#Oil_prices settled lower Wednesday, as an unexpected build in U.S. s#tockpiles and signs that the #Federal_Reserve is set to keep rates higher for longer than previously expected weighed on sentiment. At 14:30 ET (17:30 GMT), #Brent_oil futures fell 3.4% to $83.44 a barrel, while West Texas Intermediate crude futures fell 3.6% to settle at $79 a barrel,. […]

  The #Bank_of_Canada is getting closer to being able to start cutting interest rates from their current 23-year highs, Governor #Tiff #Macklem said on Wednesday. In opening remarks to the Senate banking committee, #Macklem said: “We are seeing what we need to see, but we need to see it for longer to be confident that

  The #Federal#Reserve decided today to maintain its benchmark interest rate. Inflation data since January have been higher than anticipated, causing market participants to adjust their expectations significantly.  The #Fed announced plans to slow its balance sheet normalization process in the upcoming month. Starting in June, the #central_bank will decrease this rate to $25 #billion

  S&P 500 closed lower Wednesday after swinging between gains and losses as the Federal Reserve kept rates unchanged on Wednesday, but the #central_bank maintained its easing basis, downplaying the prospect of rate hikes.  #At 16:00 ET (20:00 #GMT), S&P 500 fell 0.40%, the NASDAQ #Composite fell 0.3%, and the #Dow_Jones Industrial Average climbed 85 points, or 0.2%.

  #Oil_prices fell for a third day on Wednesday on rising crude #inventories and #production in the #usa the world’s biggest oil consumer, along with increasing hopes of a ceasefire agreement in the #Middle_East. Brent crude futures for July fell 47 cents, or 0.5%, at $85.86 a barrel by 0005 GMT. U.S. West Texas Intermediate

  #Japan may introduce measures to provide tax breaks for companies converting #foreign #profits into #the_yen and include it in the government’s annual mid-year policy blueprint compiled in the summer, the #Sankei newspaper reported. The tax holiday may be deployed as a policy tool to stem the yen’s sharp declines, incentivising firms to return overseas

  #Ukraine launched drones on several #Russian regions in hours leading to Wednesday morning, #Russian officials said, with #unofficial #Russian_news outlets reporting a fire at the Ryazan oil refinery after the #attack. Pavel Malkov, governor or the Ryazan region, which shares a border with the Moscow region in its northwestern parts, said that there were

  #Oil_prices fell sharply in #Asian #trade on Wednesday, extending recent losses as signs of an unexpected build in #usa_stockpiles and strong crude production sparked doubts over tight supply conditions.  #Markets were also on edge before the conclusion of a Federal Reserve meeting later in the day, where the #central_bank is widely expected to strike

  #Japanese and #Australian_stocks fell on Wednesday, leading losses across #Asia as fears of higher-for-longer #usa_interest rates grew before the conclusion of a #Federal_Reserve meeting later in the day. Most other markets in the region were closed for the Labor Day holiday, which also kept broader trading volumes largely muted.  #Risk appetite was decidedly negative

  #Super_Micro_Computer (NASDAQ:#SMCI) reported mixed results for the fiscal #Q3 #2024 and raised revenue outlook for the full year. Shares fell 2.7% in after-hours #trading. The company posted quarterly earnings per share (#EPS) of $6.65, beating the analysts’ expectations of $5.80. However, revenue came in at $3.85 #billion, notably below the consensus estimate of $3.99