10-year Treasury yield leaps to fresh 19-year high after hot economic readings
Treasury yields raced higher on Wednesday as new services and manufacturing sector data increased worry of further Federal Reserve rate hikes.
Business
McDonald's will spend big on restaurant upgrades, training to drive growth
The plans are part of the fast-food giant's new growth strategy, called McDonald's > NEXT.
US Stocks Face Rate Pressure as Hot PMI Revives Fed Hike Risk
The US 10-year Treasury yield jumped above 5% on Wednesday after a stronger-than-expected September business activity report pushed markets to reassess the outlook for Federal Reserve interest rates. With US growth acce…
Activist Toms Capital urges Devon Energy in letter to explore alternatives, including a sale
Toms, which manages just over $4 billion in assets, says in the letter it is now one of Devon's top five shareholders.
Trump faces Xi as strains with allies complicate U.S. pressure on China
As Trump prepares to meet Xi, strains with U.S. allies are complicating Washington’s efforts to marshal pressure against an increasingly resilient China.
Iran's president blames U.S., Israel for global instability in defiant UN speech
Pezeshkian began his address to the UN General Assembly in New York City by holding up photos of children he said were killed by U.S. and Israeli bombs.
Cotton Slipping to Start Wednesday Trade
Cotton is showing 40 to 50 point gains on Wednesday morning. Futures closed out the Tuesday session with contracts down 16 to 55 points across the board. Crude oil was down 57 cents per barrel on the session, with the U…
AI drone maker hits $6.4 billion valuation as Ukraine war spurs defense tech
AI drone maker Tekever on Wednesday said it had hit a $6.4 billion valuation, as Europe races to rearm amid the Ukraine war and mounting threats from Russia.
Trump-Xi summit puts AI safety talks on the table but neither side wants to slow down
Donald Trump wants the U.S. to beat China in the AI race. But as he meets Chinese President Xi Jinping, both countries are also weighing how to address the risks posed by rapidly advancing technology.
Nearly 10% of borrowers opted for riskier mortgages last week, as rates soared over 7%
Mortgage rates soared to the highest level since 2024 last week, causing loan demand to fall back again and more borrowers to opt for riskier loans. Total application volume decreased 1.5% from the previous week, accord…
Texas turning blue may hinge on Democrats harnessing data center opposition
TEXAS — Mason McCallister said it was an act of God that sent him down a gravel road near his home in Bells, Texas, one Sunday last December.
UK economic outlook brighter as new government measures will boost growth, says OECD – business live
Oil prices fall for a sixth day in their longest losing streak in over a year, as Saudi Arabia reportedly restarts its east-west pipeline and amid hopes for progress in US-Iran talks
Never Have Stocks Owed So Much to So Few
In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person …
Zelenskyy says Ukraine ready for ‘energy ceasefire’, calls for trilateral meeting with Putin, Trump
Ukrainian President Volodymyr Zelenskyy has called on U.S. President Donald Trump to organize a trilateral meeting with Russian President Vladimir Putin, saying the world leaders need to move "as quickly as possible" to…
Indian billionaire’s payments firm plots biggest London flotation in years
A payments business that operates across Africa and is ultimately controlled by an Indian billionaire has announced its intention to float on the struggling London Stock Exchange.
Oil Slips for a 5th Day as Nasdaq Rips in FOMO Fashion
Tuesday offered enough relief on that front. But the bigger point is still in plain sight: oil remains roughly 50% higher than a year ago, and nearly half of the US inflation overshoot can be traced to elevated energy a…
Iran says Trump’s threats a sign of ‘strategic desperation,’ floats conditions for Hormuz reopening
Iran's military on Wednesday described U.S. President Donald Trump's threats to annihilate Tehran as "a sign of strategic desperation," warning the country stands ready to inflict strikes "more crushing" than earlier in…
Semiconductor Rally Faces Crosscurrents From FX and Credit
The S&P 500 finished the day flat, while the Nasdaq gained around 80 bps. It is hard to say that today was much different from what we have seen in recent weeks.
‘It doesn’t seem fair’: I’m retired and have plenty of money. Why can’t I qualify for a retail credit card?
“I draw from my IRA as needed for household repairs, trips and other larger expenses.”
Stocks Settle Mixed as Chipmakers Climb and Financial Stocks Fall
The S&P 500 Index ($SPX) (SPY) closed unchanged on Tuesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.82%. December E-mini S&P futures (ESZ…
Dollar Supported by Hawkish Fed Comments
The dollar index (DXY00) today is up by +0.05%. The dollar is slightly higher today, boosted by hawkish comments from the Fed. Chicago Fed President Austan Goolsbee said that, given higher inflation, the more prudent co…
Fed's Collins warns inflation could be 'notably' higher after backing rate hike
Boston Federal Reserve President Susan Collins has warned that there is "an increased likelihood" that inflation will stay "notably" above the Federal Reserve's 2% target.
Spain shares higher at close of trade; IBEX 35 up 0.41%
U.S. equities traded higher on Friday, led by a 100-point gain in the Dow Jones Industrial Average. The broader market showed mixed signals as technology stocks slipped while communication services rallied.
Oil falls after U.S. and Iran talk for hours at UN meeting
Oil fell Wednesday, amid optimism that supply disruptions would ease following U.S.-Iran talks, which raised hopes of a diplomatic solution to the conflict in the Middle East.