(Reuters) – The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed’s 2% goal last month and spending softened, traders expect. After the data, traders priced in about a 53% chance of a rate cut in September, versus about 49% before the report. The report showed the core personal consumption expenditures price index, which the … Read more…

By Sinéad Carew and Huw Jones LONDON (Reuters) -MSCI’s global equities index gave up earlier gains on Friday after data showed modest U.S. inflation in April, while the dollar fell with Treasury yields as investors still bet on Fed interest rate cuts this year. The U.S. Commerce Department said the personal consumption expenditures (PCE) price index, widely seen as the Fed’s favoured inflation indicator, increased 0.3% last month, in line with expectations and the March … Read more…

By Nathan Layne BANGOR, Pennsylvania (Reuters) – Bronwen Brown, a registered Republican in a bellwether Pennsylvania county, was ready to vote for Donald Trump again in November despite long-held reservations about his character. His conviction by a New York jury has given her pause. “He’s been found guilty on all 34 counts. Do I want to go with that? Probably not,” the 72-year-old former opera singer told Reuters minutes after Trump became the first former … Read more…

By Medha Singh (Reuters) – Nvidia could soon surpass Apple to become the world’s second-most valuable company, as the kingmaker behind the AI revolution takes on the iPhone maker that has ruled Wall Street for decades. The reliance of virtually all artificial intelligence applications such as OpenAI’s ChatGPT on Nvidia’s high-end chips has helped the stock nearly triple in value over the past year to $2.72 trillion. In contrast, Apple ceded its No. 1 spot … Read more…

NEW YORK (Reuters) – The rate of U.S. failed trades stood at 1.90% on Wednesday, a big test day for the recently implemented faster settlement cycle, roughly stable from Friday’s number, Depository Trust & Clearing Corporation (DTCC) showed this morning. Market participants were expecting it to increase to 4.1% after T+1 implementation, from 2.9%, according to research firm ValueExchange. On Friday, before the settlement period was halved to one day in the U.S., the fail … Read more…