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The S&P 500 reached a record intraday high on Wednesday for the first time in more than a month, as investors returned to artificial intelligence stocks and bet that the Federal Reserve will cut interest rates again next year. The index was last trading up 0.2% at 6,920.88 points, surpassing its previous intraday peak of 6,920.34, set on October 29, when shares of AI heavyweight Nvidia helped lift the index to a market valuation above $5 trillion for the first time. US equities have rebounded from their November lows, with investors rotating back into leading technology and AI…
Major market participants continue to increase their exposure to Ethereum (ETH), investing hundreds of millions of dollars in the world’s second-largest cryptocurrency. This comes despite recent price weakness, which has pushed the token down by nearly 3% so far this week. The divergence suggests that while short-term price action remains under pressure, long-term conviction among institutional investors and large “whales” remains firmly intact. Price Weakness Fails to Deter Large Buyers Data from BeInCrypto Markets showed that Ethereum continued to struggle amid a broader market pullback. At the time of writing, ETH was trading at $2,929.23, down 1.06%…
After a year defined by worries about cloud growth and tariff impact on retail, Amazon stock heads into 2026 poised for gains. The Club name struggled throughout 2025 as Wall Street worried that Microsoft ‘s Azure and Google Cloud were outpacing the growth rate of the No. 1 cloud, Amazon Web Services, and how President Donald Trump ‘s tariffs could pressure already-thin retail margins weighed on sentiment as well. Amazon shares have gained only 6% year-to-date, trailing the S & P 500 ‘s nearly 18% gain over the same period. The stock was also underperforming its mega-cap tech peers. Amazon…
The US dollar fell on Wednesday and was on track to record its largest annual loss since 2017, with scope for further declines, as investors bet that the Federal Reserve will have room to cut interest rates more aggressively next year, while most other major central banks are seen as having largely завершed their easing cycles. Strong US gross domestic product data released on Tuesday failed to alter interest-rate expectations, with investors continuing to price in around two additional rate cuts by the Federal Reserve in 2026. David Mericle, chief US economist at Goldman Sachs, said: “We expect…
In a significant enforcement drive, the Corporate Tax Office (CTO) Lahore recovered Rs2.646 billion from a taxpayer who had “failed to fulfill his statutory obligations”, the Federal Board of Revenue (FBR) said in a statement on Wednesday. “In a significant enforcement breakthrough aimed at strengthening tax compliance, the Corporate Tax Office (CTO) Lahore has recovered Rs2.646 billion in an enforcement action conducted by the CTO Lahore. “The recovery pertains to outstanding Income Tax demand created against a taxpayer – who failed to fulfill his statutory obligations – after successful completion of assessment proceeding,” the FBR statement read. “CTO Lahore successfully…
Crippling high beef prices are being felt by everyone. Tyson Foods , for example, announced plans last month to close its beef plant in Lexington, Nebraska. Roughly 3,200 workers will lose their jobs at what had long been the area’s largest employer. The Wall Street Journal on Tuesday ran a sobering story about the ripple effect of next month’s closure after two decades of operation. In its Nov. 21 announcement, Tyson said it is closing the Lexington plant as part of a plan to “right-size its beef business” in the face of a historically low cattle herd in the United…
The US dollar fell on Wednesday and was on track to record its largest annual loss since 2017, with scope for further declines, as investors bet that the Federal Reserve will have room to cut interest rates more aggressively next year, while most other major central banks are seen as having largely завершed their easing cycles. Strong US gross domestic product data released on Tuesday failed to alter interest-rate expectations, with investors continuing to price in around two additional rate cuts by the Federal Reserve in 2026. David Mericle, chief US economist at Goldman Sachs, said: “We expect…
Brazil is preparing to waive visa requirements for Chinese citizens travelling for tourism and business, local media reported on Wednesday citing government sources, in a move that would mark a significant shift in policy and deepen ties with its largest trading partner.According to local newspaper Valor Economico, the decision reflects a growing view within President Luiz Inacio Lula da Silva’s government that easing entry rules would boost tourism, trade and investment, outweighing long-standing concerns about migration risks. China is Brazil’s largest commercial partner and one of the fastest-growing sources of foreign visitors, with more than 76,000 visitors just in 2024.The…
The Privatisation Commission Board (PC Board) on Wednesday recommended the bid offer – Rs135 billion for 75% stake in the Pakistan International Airlines (PIA) – submitted by the Arif Habib consortium for consideration and approval by the Cabinet Committee on Privatisation, an official statement stated. The development comes after Pakistan government concluded on Tuesday the sale of a 75% stake in its national carrier for Rs135 billion, giving an end to years of stalled efforts to privatise the loss-making airline. Arif Habib consortium bought the managing stake in the national carrier. The consortium is comprised of Arif Habib Corporation Limited,…
The Club’s 10 things to watch Wednesday, Dec. 24 1. Wall Street is headed for a muted open in this holiday-shortened session that ends at 1 p.m. ET. Today marks the start of the seasonally strong Santa Claus rally period, covering the final five trading days of the year and the first two of the next. The S & P 500 is coming off a fresh record close, boosted by the AI tech trade. Trading volumes yesterday were predictably lighter than usual. 2. Initial jobless claims for last week totaled 214,000, below the Dow Jones consensus of 225,000 and also…