March 1, 2024NYCB in Crisis: CEO Steps Down as Losses Mount to $2.7 BillionNew York Community Bancorp (NYCB) is facing renewed turmoil as it announced the departure of its CEO Thomas Cangemi, revealed significant weaknesses in its internal controls, and reported a massive increase in its fourth-quarter loss, which skyrocketed to $2.7 billion. These developments have severely impacted NYCB’s stock, which plummeted 28% at the opening of the […] READ MORE March 1, 2024Persistent Inflation Challenges Eurozone, Core Prices Higher Than AnticipatedInflation in the Eurozone slightly cooled to 2.6% in February, yet it remained above economists’ expectations, signaling a persistent inflationary pressure within the economy. Despite anticipations of a decline, core inflation, which excludes volatile items such as energy, food, alcohol, and tobacco, also exceeded forecasts at 3.1%. Notably, food, alcohol, and tobacco prices led with […] READ MORE March 1, 2024This Tax Tip Could Save You ThousandsDid you know the IRS taxes gold at a higher rate than securities? But there’s a little-known, perfectly legal, way around that… READ MORE March 1, 2024Nasdaq and S&P 500 Continue to Climb, Celebrating Stellar FebruaryThe S&P 500 and Nasdaq Composite surged to record highs in February, marking the best performance for the month in almost ten years. This rally was buoyed by investor reactions to a critical inflation report, signaling robust confidence in the market. The Nasdaq Composite experienced a significant upturn of 0.9% to close at 16,091.92, achieving […] READ MORE February 29, 2024Thursday's PCE Price Index Release to Shine a Spotlight on Inflation TrendsOn Thursday, the Commerce Department is set to release the January figures for the personal consumption expenditures (PCE) price index, which is highly regarded by the Federal Reserve as a key measure of inflation. Economists surveyed by Dow Jones anticipate a monthly increase of 0.3% and a year-over-year rise of 2.4%. This upcoming release is […] READ MORE February 29, 2024Hoenig Cautions Against Expecting Three Rate Cuts Amid Economic ResilienceFormer Federal Reserve President Thomas Hoenig expressed surprise at the prospect of the Federal Reserve cutting interest rates three times in 2024, considering the current economic landscape. Speaking on CNBC’s “Squawk on the Street,” Hoenig suggested that, based on the resilience of the economy, persistent inflation above 3%, strong consumer spending, and low unemployment rates, […] READ MORE February 29, 2024Gold Market Shines During Spring Festival, Yet Slower Growth Expected AheadGold consumption over the extended Chinese New Year holiday in 2024 demonstrated a strong market appetite, reflecting a positive start to the year. Despite a vibrant start, expectations for the year suggest a more tempered outlook for gold jewelry demand, anticipated to grow but at a slower rate compared to 2023, owing primarily to a […] READ MORE February 29, 2024Inverted Yield Curve Signals Caution, But Economic Strength Defies PredictionsFor the past 16 months, one of Wall Street’s most trusted indicators for predicting recessions, the inverted yield curve, has been signaling a potential economic downturn. This phenomenon occurs when the interest rates on short-term bonds exceed those of long-term bonds, traditionally seen as a harbinger of recession. However, despite this alarm, the actual economic […] READ MORE February 29, 2024Could the Chinese Yuan Overtake the US Dollar?The longstanding dominance of the US dollar in global markets is being challenged by the rising prominence of the Chinese Yuan. For years, the dollar’s status as the world’s reserve currency made it a cornerstone of international finance, but recent trends towards de-dollarization, spurred by high inflation and geopolitical tensions, have begun to erode its […] READ MORE « Previous 1 … 8 9 10 11 12 … 43 Next »
