Investing.com -- Former New York Federal Reserve President Bill Dudley on Wednesday called for the Fed to cut rates as soon as next week amid recession concerns, reversing his long-held view for the U.S. central bank to persist with its higher for longer rate regime. "The facts have changed, so...

Fed's Dudley now calling for Fed rate cut next week amid recession concerns

Markets Insider

US stocks climbed Wednesday, with the S&P 500 closing at a record high. Traders are waiting on the June inflation report, which will be a key input for Fed policy. Investors are anticipating two rate cuts from the central bank by year-end, per the CME FedWatch tool. US stocks rose...

Stock market today: S&P 500 closes at a fresh record above 5,600 as traders brace for June inflation

The Associated Press

Asian stocks mostly fell on Wednesday as markets digested Japanese and Australian business data, after U.S. stocks held relatively steady as earnings reporting season ramped up for big companies. U.S. futures fell while oil prices were higher. Japan’s benchmark Nikkei 225 slipped 0.2% in morning trading to 39,508.84, with the Japanese yen trading at its highest level in months ahead of a Bank of Japan policy decision next week. The U.S. dollar was trading over 162 yen earlier this month but the Japanese currency has strengthened in recent days after officials intervened to staunch the yen’s decline. Expectations that the BOJ may raise its near-zero interest rate, and that the Federal Reserve may in turn cut rates, have helped support the yen, which has languished as the gap between U.S. rates and those in Japan widened. 

Stock market today: Asian stocks fall after a torrent of profit reports leaves Wall Street mixed

Gold prices rose nearly 1% on Wednesday on a softer US dollar, with investors shifting focus to economic data due this week for fresh signals on the timing of the Federal Reserve’s rate cuts. Spot gold was up 0.9% at $2,430.66 per ounce as of 11:00 a.m. ET, extending...

Gold price rises on softer dollar as market awaits more US data

The S&P 500 has produced a positive return 100% of the time during the second half of election years involving an incumbent president. The S&P 500 has returned an average 4% during the second half of presidential election years, but it has returned an average of 11% when the election involved an incumbent (like Joe Biden in 2024).

This Stock Market Indicator Has Been 100% Accurate Since 1964. It Signals a Big Move in the 2nd Half of 2024.

New York Post

There may be trouble looming on the horizon for the U.S. stock market, according to BCA Research.

In a note to clients last week, BCA Research chief global strategist Peter Berezin warned that, contrary to popular belief, the economy will fall into a recession either this year or in early 2025. 

Should that happen, the S&P 500 could tumble to 3,750, which marks a 30% drop from current levels.

Stock market could drop 5% or more before end of 2024: Wall Street analyst warns

Berezin’s prediction hinges on the belief that the labor market will slow notably in coming months, which will weigh heavily on consumer spending...

US headed for a deep recession in near future as stocks could fall 30%, analyst warns

New York City, NY

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writer

Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Aurora, CO

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

David Heitz

Aurora’s pallet shelters for people experiencing homelessness, which only allow a maximum 30-day stay, have been cycling the same individuals in and out, city staff told council members Thursday. Many return to street encampments when their time in the pallet shelter runs out, Jessica Prosser, homeless services director for the city, said. Then, the city sweeps the encampment again, and they get to come back to the shelter for another 30 days, Prosser explained. This process can repeat multiple times.

Aurora pallet shelters a revolving door for homeless

Tupelo, MS

Mississippi News Group

Traci D. Franklin, a 52-year-old resident of Tupelo, was arrested by the Tupelo Police Department on June 28, 2024, following the issuance of a Lee County Circuit Court Capias Warrant.

Tupelo police make arrest on woman for not returning rental property to Best Way

While Federal Chair Jerome Powell was once an advocate of higher interest rates, he may now be siding with the ‘doves’ of the central bank, a Deutsche Bank review of meeting records and public comments shows. Powell now appears to be more closely aligned with advocates of early...

Once an Advocate of Higher Rates, Powell Now Looks Like a ‘Dove’

STICPAY has announced the launch of a new cashback service aimed at benefitting customers who trade with Forex and CFD brokers. Going by the name of STIC Cashback, the new service enables customers to receive cashback when they engage with a broker partner through STIC Cashback, with the amount of cashback depending on the customer’s trading volume.

STICPAY launches forex cashback for clients of FX and CFD brokers

Newark, NJ

Morristown Minute

NEWARK, N.J. – An Essex County man has been charged with numerous offenses related to narcotics distribution and firearms trafficking. Kyrell Domnie, 39, of Irvington, known by the alias "Fly Ky," was charged by complaint and appeared before U.S. Magistrate Judge Cathy L. Waldor in Newark federal court on July 17, 2024. He remains detained following the hearing.

Convicted Felon Faces Multiple Narcotics and Firearms Charges

Missouri State

Fulton, MO

CJ Coombs

Updated on July 17, 2024, concerning two of the missing children listed below. Bringing them home: for 40 years, the National Center for Missing and Exploited Children (NCMEC) has been helping to locate missing children.

Seven teenagers have been missing in Missouri since June 2024

California State

The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Reuters

(Reuters) - British manufacturers' expectations for price rises in the next few months fell to their lowest since late 2020 and they ramped up forecasts for output too, a survey from the Confederation of British Industry showed on Thursday.

UK factories slash price expectations and raise output forecasts, CBI says

New Jersey State

A new initiative aims to provide housing for vulnerable Medicaid members, enhancing community wellness and support. MORRIS COUNTY, N.J. - In a significant move to tackle housing instability among Medicaid recipients, New Jersey's Human Services Commissioner Sarah Adelman, along with Community Affairs Commissioner Jacquelyn A. Suárez, today announced the availability of $95 million in funding for developers. This initiative, part of the Healthy Homes program, is designed to create affordable housing opportunities for NJ FamilyCare members who are either homeless, at risk of homelessness, or currently living in institutional settings.

$95 Million for Healthy Homes: Housing for Medicaid Members

Illinois State

MOD Pizza has over 500 locations across the country with 22 restaurants in Illinois. The Washington-based chain offers fast-casual fare known for its customized, artisan-style pizzas. Customers can choose from over 40 toppings and 8 sauces to create their own masterpiece.

Bankruptcy Looms for Major Pizza Chain With Chicago Suburban Locations

OTTAWA, July 24 (Reuters) - The Bank of Canada on Wednesday trimmed its growth forecast for 2024, citing lower consumption, and reiterated that it expected inflation to return sustainably to its 2% target in the second half of 2025.

Bank of Canada trims 2024 growth forecast, sees inflation hitting target in 2nd half of 2025

SHANGHAI (Reuters) - China surprised markets by lowering a string of major short and long-term interest rates on Monday, in an effort to boost growth in the world's second-largest economy.

China's surprise rate cuts will not hurt a fragile yuan, analysts say

NewsBreak

Global FX Market Summary: FED, US Dollar, US Economic Data, US Elections July 22 ,2024

US dollar expected to weaken in short term due to Fed rate cut expectations, inverted yield curve, rising stock market optimism, and key economic data this...

Global FX Market Summary: FED, US Dollar, US Economic Data, US Elections July 22 ,2024

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