News

The S&P 500 and the Nasdaq dipped on Friday as fears over high interest rates next year loomed, although a cooler-than-expected inflation report kept losses in check. A Commerce Department report showed the Personal Consumption Expenditure (PCE) index, the Fed's preferred inflation measure, rose 2.4% in November on an annual basis, below estimates of 2.5%, as per economists polled by Reuters. Wall Street was jolted this week after the Fed forecast only two rate reductions in 2025 and raised its inflation estimate, in a nod to the economy's continued resilience and still-high inflation.

The S&P 500 and the Nasdaq dipped on Friday as fears over high interest rates next year loomed, although a cooler-than-expected inflation report kept losses in check. A Commerce Department report showed the Personal Consumption Expenditure (PCE) index, the Fed's preferred inflation measure, rose 2.4% in November on an annual basis, below estimates of 2.5%, as per economists polled by Reuters. Wall Street was jolted this week after the Fed forecast only two rate reductions in 2025 and raised its inflation estimate, in a nod to the economy's continued resilience and still-high inflation.

Olivier Acuña had to keep his wits about him to survive as a reporter. Then he worked in crypto and got scammed out of $400,000.

'Crypto Mom' Hester Peirce says pro-crypto regulations are coming in a new Coinage interview

Federal Reserve Bank of New York President John Williams said Friday he expects the central bank to deliver more interest rate cuts but noted that what happens will be driven by incoming data, amid a policy that is still providing restraint on the economy's momentum. Even with this week's rate cut Williams thinks "we're pretty restrictive" with monetary policy, meaning short-term rates are continuing to restrain the economy, which should help further an easing in inflation pressures, he told CNBC in an interview. As for where the Fed goes next with monetary policy, "the baseline trajectory is moving down towards neutral rates," Williams said, suggesting some sort of rate cut combinations were still in his outlook.

Markets saw a brief reprieve Friday as the Federal Reserve’s preferred inflation gauge came in below expectations, tempering concerns of mounting volatility after this week's hawkish policy pivot. The Personal Consumption Expenditures price index rose 2.4% year-over-year in November, missing the 2.5% forecast. On a monthly basis, the gauge slowed to 0.1%, down from 0.2% in October and below projections for steady growth. Core PCE, which excludes food and energy, remained at 2.8% annually, slight

The U.S. Securities and Exchange Commission (SEC) has approved the first crypto index exchange-traded funds (ETFs) from Hashdex and Franklin Templeton.