Latest Market News
The Bank of Canada on Wednesday lifted its key overnight lending rate by 50 basis points, or half a percentage point, to 3.75%. Nine of 12 economists surveyed by The Wall Street Journal had penciled in a 75 basis point rise. In a statement, the central bank said it expected inflation to ease “as higher […]
Microsoft Corp.’s stock MSFT, -5.25% took a 7.7% dive in morning trading Wednesday, toward the biggest one-day decline in 2 1/2 years, after the software behemoth provided a disappointing second-quarter revenue outlook. The stock was by far the biggest decliner in the Dow Jones Industrial Average DJIA, +1.00%, as the second-place loser was fellow software […]
Stifel Financial Corp. SF, +2.34% and Evercore Inc. EVR, +6.00% both reported double-digit percentage drops in compensation expense on Wednesday as banker pay dries up from 2022’s lower deal flow. Third-quarter compensation expense at Stifel fell 25% to $211.82 million from $283.1 million in the year-ago quarter, as total revenue fell to $339.4 million from […]
The Biden administration on Wednesday rolled out new measures aimed at what it described as two practices involving “junk fees” at banks KBE, +0.97%. The White House said in a news release that the Consumer Financial Protection Bureau has issued new guidance targeting “overdraft fees charged when consumers had enough money in their account to […]
U.S. stocks opened mostly lower on Wednesday as earnings from Microsoft MSFT, -5.15% and Alphabet GOOG, -6.27% disappointed investors, dragging on the Nasdaq. The S&P 500 SPX, +0.65% fell 33 points, or 0.9%, to 3,825. The Dow Jones Industrial Average DJIA, +1.02% rose 13 points, or less than 0.1%, to 31,849. The Nasdaq Composite COMP, […]
The Monetary Authority of Singapore (MAS) is introducing proposals to better regulate the cryptocurrency industry in the aftermath of the bankruptcy of the Singaporean crypto hedge fund Three Arrows Capital (3AC). The central bank of Singapore has issued two consultation papers on proposals for regulating the operations of digital payment token service providers (DPTSP) and […]