Wall Street found some relief after the recent slide in stocks and bonds as oil prices fell, with traders betting the Federal Reserve will boost rates to fight inflation and defend its credibility. Alicia Levine, CIO at BNY, gives her constructive equity market approach and discusses how higher yields bleed into equities.
The Federal Reserve is expected to lift interest rates today for the first time since 2023 as policymakers lose confidence that inflation will cool sufficiently without at least a nudge from the central bank. Michael McKee, International Economics & Policy Correspondent with Bloomberg News, tells us what he expects from today's Fed decision.
Moomoo's US CEO Neil McDonald joined Bloomberg Open Interest to explain why X is becoming a major destination for stock discovery and how social investing, institutional-grade tools and AI-powered trading are changing the retail investor experience. He says natural-language automation can even help traders fight FOMO and make more disciplined decisions.
Goldman Sachs' David Mericle joins Bloomberg Open Interest to break down why the Fed could hike rates without committing to another move. He argues the US economy isn't overheating, inflation pressures remain manageable, and the labor market is in a healthy balance, while warning that rising oil prices could complicate the Fed's path.
Circle CEO and Co-Founder Jeremy Allaire joins Bloomberg Open Interest to lay out his massive vision for digital dollars, saying stablecoins could address a roughly $60 trillion cash market. He explains why Circle doesn't need the CLARITY Act to scale, calls blockchain finance an "irreversible megatrend," and details the launch of Arc with hundreds of companies already participating.
Forrester analyst Sucharita Kodali says strong retail sales are hiding a major divide in the US consumer. Higher-income shoppers are still spending, while rising gas costs squeeze lower-income households. She explains why Walmart, Costco and Amazon could gain even more ground this holiday season as middle-tier retailers struggle.
OpenAI is holding early talks with investors about a fresh funding round that would value the company at more than $1.2 trillion ahead of an initial public offering. Michelle Davis reports on "Bloomberg Open Interest."
Indonesian National Economic Council Vice Chair Mari Pangestu believes the country may see a lower budget deficit next year. She also expects fiscal discipline from new Finance Minister Suahasil Nazara. She speaks with Paul Allen on "Insight with Haslinda Amin."
On this episode of Stock Movers: - Intel (INTC) is the most actively traded stock in the premarket after Reuters reported that SK Hynix is in talks with the chipmaker about a deal that would see it manufacture memory chips in the US for the first time. SK Hynix says it's made no decisions in response to a Reuters report that it's in talks with Intel about a deal to make semiconductors in the US. - JB Hunt (JBHT) shares are lower this morning after the trucking company flagged rising costs and issued a rare earnings warning at a Morgan Stanley conference. - Reliance Worldwide (RWC) shares are moving on news Brookfield agreed to pay $3.38 a share to buy Reliance World.
The Federal Reserve is expected to hike interest rates for the first time in three years on Wednesday. Investors on Tuesday saw a greater than 90% chance of a quarter-point move this week and priced in another hike by the end of the year. Michael McKee has a preview.
US retail sales rose broadly in August showing that consumers are still spending despite higher gasoline prices. Twelve of 13 retail categories reported increases, boosted by back-to-school shopping. Sales were up by 1.2% beating the estimate of 0.8%. Bloomberg's Michael McKee reports from Washington.
Bond traders have piled into bearish positions ahead of Wednesday's Federal Reserve meeting, betting that the Treasury selloff driving yields to their highest in almost two decades will continue. Steven Major, Global Macro Advisor at Tradition, discusses the case for a bond rally and falling yields.
