Tag Archives: Fed

Financial Daily Dose 8.20.2020 | Top Story: Apple Becomes First U.S. Company to Hit $2 Trillion Valuation Mark

BY: Michael D. Reif | August 20, 2020

Apple tipped the $2 trillion mark this week, the first U.S. company to reach that valuation milestone, doing so just 2 years after it first hit $1 trillion. That it’s done so in the middle of a pandemic only punctuates how the coronavirus crisis “has been a bonanza for the tech giants” – NYTimes and … Continue reading

Financial Daily Dose 8.19.2020 | Top Story: S&P 500 Erases Pandemic Losses Despite U.S. Failure to Control Virus

BY: Michael D. Reif | August 19, 2020

Unlike much of the world, the U.S. has not turned the corner on the coronavirus outbreak. But you wouldn’t know it by looking at the markets. On Tuesday, the S&P 500 topped out at its highest level ever, “capping a remarkable rebound fueled by unprecedented government stimulus and optimism among investors about the world’s ability … Continue reading

Financial Daily Dose 8.18.2020 | Top Story: U.S. Further Restricts Huawei Access to American Components

BY: Michael D. Reif | August 18, 2020

Another day, another major U.S. restriction on Chinese tech. The Commerce Department is out with new rules “curbing Huawei Technologies Co.’s access to foreign-made chips.” The measures would “prohibit non-U.S. companies from selling any chips made using U.S. technology to Huawei without a special license” and places “potentially severe new limits on Huawei’s ability to … Continue reading

Financial Daily Dose 3.27.2020 | Top Story: Weekly unemployment claims in US top 3.3 million in COVID-19-shaken economy

BY: Michael D. Reif | March 27, 2020

Anticipated House passage later today of the $2 trillion COVID-19 stimulus bill helped swing markets back to a bull run (though let’s keep that bubbly corked, shall we?). The news was enough for Wall Street to shrug off a staggeringly big unemployment report, at least for a day, and we’ll be watching carefully to see … Continue reading

Financial Daily Dose 11.14.2019 | Top Story: Fed Chair Talks Economy and Rates During Congressional Testimony

BY: Michael D. Reif | November 14, 2019

Fed Chair Powell was far from the main attraction on the Hill yesterday, but hey, let’s keep it on topic here and note his belief that the U.S. economy is performing well even as certain risks—including “sluggish growth abroad and trade developments”—remain (though aren’t enough to cut rates again any time soon) – NYTimes and … Continue reading

Financial Daily Dose 10.31.2019 | Top Story: Fed Delivers Expected Interest Rate Cut

BY: Michael D. Reif | October 31, 2019

As universally expected, the Fed’s Open Market Committee delivered its third interest rate cut of 2019 yesterday, though it did so while signaling that it’s likely to pause before taking action again and “is now shifting into a more patient mode” – NYTimes and WSJ and Bloomberg Markets generally approved despite Chair Powell’s hints at … Continue reading

Financial Daily Dose 10.25.2019 | Top Story: ECB Holds Rates Steady as Draghi Departs

BY: Michael D. Reif | October 25, 2019

Mario Draghi presided over his final ECB meeting yesterday, with the central bank deciding to hold rates steady and let current stimulus measures play out for the time being. His departure (and the arrival of former IMF chief Christine Lagarde) coincides with a debate over his legacy at the bank—is he “savior of the Eurozone” … Continue reading

Financial Daily Dose 10.9.2019 | Top Story: Chair Powell says Fed will Expand its Treasury Securities Holdings

BY: Michael D. Reif | October 9, 2019

Fed Chair Powell, speaking at an economics conference in Denver yesterday, made news by indicating that the central bank would “once again begin expanding its portfolio of government-backed securities”—a shift in policy hastened by recent repo market shortages requiring Fed intervention – NYTimes and WSJ and Bloomberg and MarketWatch and Law360 A Philly jury has … Continue reading

Financial Daily Dose 10.4.2019 | Top Story: Markets Watching US Jobs Report for Clues on More Fed Rate Action

BY: Michael D. Reif | October 4, 2019

Jobs report Friday again. Here’s what to look for in the numbers [and let’s temper those expectations, okay?] – Bloomberg and NYTimes and WSJ Here’s why most expect that the figures, along with manufacturing and other economic data that rolled in this week, are probably troublesome enough to push the Fed to cut again at … Continue reading

Financial Daily Dose 9.19.2019 | Top Story: Fed Cuts Rates Another Quarter percent

BY: Michael D. Reif | September 19, 2019

As pretty much expected, the Federal Reserve cut interest rates a quarter point again yesterday, its second cut since late July. Fed Chair Powell also indicated in remarks after the FOMC broke that a “‘more extensive’ series of rate cuts would be appropriate,” though, for now, “a growing number of Fed officials expect just one … Continue reading