The Fed forecasts lowering rates by another half point before the year is out

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 31, 2024. Kevin Mohatt | ReutersThe Federal Reserve projected lowering...

Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years

WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.With both the jobs picture and...

Stocks making the biggest moves midday: Intuitive Machines, U.S. Steel, Victoria’s Secret and more

Check out the companies making headlines in midday trading: Intuitive Machines — Shares soared 51% after the space exploration company secured a roughly $5 billion space network contract from NASA. United States Steel — The U.S. steel producer saw shares jump more...

JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns

JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, D.C., on Dec. 6, 2023.Evelyn Hockstein | ReutersJPMorgan Chase...

Point72’s Steve Cohen is stepping back from trading his own book

Steven CohenAdam Jeffery | CNBC Billionaire investor Steve Cohen is retiring from the trading floor at his hedge fund Point72.The prominent hedge fund investor, who also owns the New York Mets, will continue his role as the co-chief investment officer at Point72,...