Markets

European Central Bank raises rates by 50 basis points, pledges further hike in March

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Christine Lagarde, president of the European Central Bank, speaks at an event. Bloomberg | Bloomberg | GettyImages The European Central Bank on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%. In a statement, he pledged to “stay the course in raising interest rates significantly at a …

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Bank of England hikes rates by 50 basis points, now sees ‘much shallower’ recession than feared

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A passageway near the Bank of England (BOE) in the City of London, UK, on ​​Thursday, March 18, 2021. Hollie Adams | Bloomberg | GettyImages LONDON — The Bank of England on Thursday hiked interest rates by 50 basis points and dialed back some of its previous bleak economic forecasts. The Monetary Policy Committee voted …

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Potential US ban investment on Chinese tech could hurt these sectors

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The Biden Administration has said the US is in competition with China and restricted the ability of American businesses to sell high-end chip tech to China. Bloomberg | Bloomberg | GettyImages BEIJING — a ban on US investment in Chinese tech could drive up market volatility — but some sectors may escape untouched, Bank of …

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Asia-Pacific markets trade mixed as investors digest Fed’s smaller quarter-point hike

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US dollar index fluctuates, hovers around 100 The dollar index fell more than 0.3% to 100.92, to the lowest levels that it’s seen since April 2022, when it last fell below the 101-mark, Refinitiv data showed. The Dollar Index hit a low of 101.036 overnight, its lowest level since 4/22/2022 when it traded as low …

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Nasdaq 100 futures rise, propelled by Meta shares

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S&P 500 futures advanced Wednesday night as investors looked beyond the latest interest rate hike and commentary from the Federal Reserve. Futures tied to the broad index added 0.5%. Nasdaq 100 futures gained 1.1%, helped by Meta shares. Futures connected to the Dow Jones Industrial Average ticked down 10 points, trading near flat. Meta surged …

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Gold demand surged to 11-year high on ‘colossal’ central bank buying

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Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Alexander Manzyuk | Reuters Gold Demand soared to an 11-year high in 2022 on the back of “colossal central bank purchases, aided by vigorous retail investor buying,” according to …

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Stock futures fall as traders await the Federal Reserve’s latest rate hike decision

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Traders on the floor of the NYSE Source: NYSE Stock futures slipped Wednesday as investors looked ahead to the Federal Reserve’s Wednesday meeting. Futures tied to the Dow Jones Industrial Average shed 140 points, or 0.4%. S&P 500 futures and Nasdaq Composite futures were down 0.4% and 0.3%, respectively. The Fed at 2 pm ET …

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AMD delivers a Q4 beat amid industry headwinds

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Advanced Micro Devices (AMD) reported a fourth-quarter earnings beat Tuesday, despite ongoing weakness in the PC market, demonstrating the semiconductor firm has the wherewithal to continue to grow and nab market share. Revenue jumped 16% year-over-year, to $5.599 billion, beating analysts’ expectations for $5.5 billion, according to estimates compiled by Refinitiv. Adjusted earnings-per-share (EPS) fell …

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