Blackrock CEO warns: The market is seriously wrong, the Fed will not cut interest rates so many times.
BlackRock's CEO stated that he finds it hard to see the Fed cutting interest rates by another 200 basis points because "more policies introduced by the government tend to lean towards inflation rather than deflation."
U.S. stocks are surging | Chinese concept stocks continue to strengthen! Futu surged nearly 12% overnight; U.S. retail sector as a whole on the rise, Home Depot, Lowe's both hitting new highs for the year.
In terms of major tech companies reaching all-time highs in the US stock market, Home Depot rose 1.42% to the top of the leaderboard, Lowe's Companies increased by 1.39%, and Fiserv financial services rose by 0.71%.
Express News | Blackrock CEO: No signs of a US economic landing, market expectations for Fed rate cuts are excessive.
A general strike is imminent, with port employers in the USA proposing a 50% pay raise.
The United States Maritime Alliance (USMX) has announced a nearly 50% increase in dock workers' wages in an effort to resume negotiations with the International Longshoremen's Association (ILA).
Major shift in the Fed's hawkish leaning voting committee: Open to cutting rates by 50 basis points again if employment weakens.
Atlanta Fed President Bostic recently stated that if the upcoming US non-farm data shows slower job growth than expected, he will be open to the Fed cutting interest rates by 50 basis points again. Bostic revealed that in the September dot plot this year, he predicted only one 25 basis point rate cut in addition to the 50 basis point cut in September. Bostic mentioned the standard of non-farm job additions of around 0.1 million.
China and the United States are worlds apart! The Chinese stock market is bouncing back strongly, while US funds are being massively sold off.
On Monday, a total of 5,088 stocks in China's stock market rose, with only 4 stocks falling.