|
U.S. and Iran reach deal to extend ceasefire and open strait AxiosIran says draft US deal includes oil sanctions waiver, nuclear limits and asset release ReutersThe true test of Trump's Iran agreement will come only if the fighting stops CNNTrump Celebrates While America Capitulates The AtlanticTrump sought to break Iran's regime. He settled for reopening Hormuz. The Washington Post
|
|
Oil prices had already fallen quite dramatically on Thursday and Friday, in anticipation of an imminent deal. President Trump has posted online that the Strait of Hormuz will reopen after the deal is signed on Friday.
|
|
Inside the whirlwind 24 hours that led the White House to slap export controls on Anthropic Business InsiderScoop: Anthropic flies staff to D.C. to clean up White House fight AxiosA warning from Amazon led the White House to shut down Anthropic's Mythos model FortuneDonald Trump has cut off access to the world's best AI model The Economist
|
|
The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
SEE MORE 16 Dividend Kings for Decades of Dividend Growth
Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
|
|
