Nvidia closes at record as AI chipmaker’s market cap tops $3.4 trillion
Nvidia shares closed at an all-time high on Monday as the chipmaker continues to ride a massive wave of demand for its artificial intelligence chips.
Financial News
Trump to move fast on tariffs, says Wall Street firm, citing clients who met with ex-trade chief
Lighthizer, the U.S. trade representative during Trump’s first term, is a top prospect for a number of potential Cabinet posts if Trump wins the White House.
Chinese finance minister hints at increasing the deficit at highly anticipated briefing
Lan Fo’an emphasized that the space for a deficit increase is “rather large,” but noted such policies are still under discussion.
Boeing to cut 17,000 jobs as losses deepen during factory strike
Boeing said it will lay off about 10% of its workforce as its losses deepen from an ongoing factory strike.
Bank of Korea trims interest rates after holding for almost two years
The BOK cut its benchmark interest rate from 3.5% to 3.25%.
Fed officials were divided on whether to cut rates by half a point in September, minutes show
The Federal Reserve on Wednesday releases minutes from its Sept. 17-18 policy meeting.
New Zealand central bank slashes rates by 50 basis points in second straight rate cut
The RBNZ slashed rates from 5.25% to 4.75% on Wednesday, marking its second straight cut to its interest rate since August.
China stocks poised to reopen with markets fixated on fiscal stimulus
Traders are closely watching for additional policy measures as Beijing has signaled a sense of urgency in bringing its economy back on track.
Japan’s Nikkei opens up 2% as Asia markets mostly climb ahead of a week of central bank decisions
Economists polled by Reuters expect the BOK and RBNZ to cut rates, while the RBI will hold.
Fed close to pulling off the elusive economic soft landing in 2024 after great September jobs report
If this sounds like a Goldilocks scenario, it’s probably not far from it, even with the lingering inflation concerns.