The allies of Republican presidential candidate #Donald_Trump are drafting proposals that would attempt to erode the #Federal_Reserve’s independence if he wins, the #WallStreet Journal reported on Thursday, citing people familiar with the matter. A small group of the former #president’s allies has produced a nearly 10-page document outlining a policy vision for the c#entral_bank, […]

  #usa_equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for #rate cuts this year. #LSEG data showed a withdrawal of $1.2 billion from #usa equity funds, though the figure was less than the previous week’s, as optimism over solid corporate earnings, especially from major tech

  #Wall_Street’s main indexes advanced on Friday as most #megacap #growth #stocks rose after robust quarterly results from #Alphabet (NASDAQ:#GOOGL) pushed its market value over $2 #trillion, while an in-line inflation reading calmed interest rate jitters. Alphabet jumped 10.8% to a record high after the #Google-parent announced its first-ever dividend, a $70 #billion #stock buyback

  #Oil_prices rose on Friday, on track to end higher this week following two straight weeks of losses, after a top #usaofficial expressed optimism over economic growth and #usa inflation rose moderately in March in line with expectations. #Brent_crude futures were up 60 cents, or 0.7%, to $89.61 a barrel at 1318 GMT. U.S. West

  #Snap received an upgrade from #HSBC from a ‘Reduce’ to a ‘Buy’ rating, with the price target being increased to $15.10, up from the previous $10.00. This change in stance comes after #Snap reported a robust first quarter for 2024, with revenues and earnings surpassing HSBC’s estimates and the Visible #Alpha consensus. Snap disclosed

  #usa_stocks rose sharply Friday after fresh inflation data failed to raise further fears of delayed rate cuts, helped by stronger-than-expected earnings from tech giants #Microsoft and Alphabet.  AT 09:35 ET (13:35 GMT), #Dow_Jones Industrial #Average gained 80 #points, or 0.2%, S&P 500 rose 35 points, or 0.7%, while the tech-heavy #NASDAQ #Composite soared 205 points, or 1.3% PCE data comes

  The #usa_dollar fell on Thursday, except against the #yen, vacillating after data showed unexpected slowing in economic growth and an unwelcome inflation acceleration, potentially tying the #Federal Reserve’s hands on a pivot to easier interest rates. While the #dollar was hardly shaken against the beleaguered yen, it otherwise only popped briefly after the Commerce

  #Biden traveled to #Syracuse, #New_York, on Thursday and announced a preliminary agreement with memory chip maker #Micron Technology (NASDAQ:#MU) for up to $6.14 #billion in subsidies for two chip factories. The agreement signed by the #usaCommerce Department will fund facilities in New York and Idaho under the #2022 #CHIPS and Science Act, which aims

  #Snapbeat #Wall_Street’s expectations for quarterly revenue and user #growth on Thursday, as improvements to its advertising system delivered results faster than anticipated. Shares of #Snap spiked 25% to $14.32 in after-market trading. The owner of photo messaging #app #Snapchat has been working over the past year to improve how it targets ads to users

  The S&P 500 closed lower, but well off session lows Thursday as Meta cut come losses, though rising Treasury yields on #economic data showing slowing growth, but sticky inflation, forced #traders to push out bets on a first rate cut to December. At 16:00 ET (20:00 GMT), the #DowJones Industrial Average fell 375 points,