Rigetti Computing, IonQ, and other quantum stocks plunged after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.
The first human bird flu death in the US has Moderna's vaccine development in focus for investors this week.
The Treasury has been forced to intervene to stabilise financial markets amid growing concern over the impact of Rachel Reeves’s Budget and a surge in borrowing costs.
Advanced Micro Devices shares fell Wednesday after HSBC analysts gave the stock a double downgrade, citing concerns about its artificial intelligence revenue.
Several stocks across the quantum computing industry fell sharply Wednesday after Nvidia CEO Jensen Huang said the technology is likely still years away.
The economy has been running hotter than expected lately, raising the possibility that the Federal Reserve will hold interest rates higher for longer, and may not even cut interest rates in 2025 as policymakers had predicted.
Wall Street's biggest banks have pushed back the expected endgame for the Federal Reserve's ongoing efforts to shrink the size of its balance sheet, according to meeting minutes for the Federal Reserve's most recent policy meeting. Banks told the Fed ahead of the December policy meeting that they saw this process ending in June of this year, a little later than what they had told the Fed ahead of the November policy meeting, the minutes of the December Federal Open Market Committee meeting said, recounting a briefing by a New York Fed official responsible for implementing monetary policy. The Fed's most recent meeting, held on Dec. 17-18, saw officials trim their interest rate target range by a quarter percentage point to between 4.25% and 4.5%, cut back expectations of future rate cuts and raise their estimated path for inflation.
Shares of leading firms nose-dive after Nvidia’s Jensen Huang suggests a generational wait for fully functional quantum tech.
WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labor market, though a slowdown in hiring has led some laid-off workers to experience long bouts of joblessness. Signs of a steadily cooling labor market could allow the Federal Reserve to keep interest rates unchanged in January against the backdrop of still high inflation. Fed Governor Christopher Waller said on Wednesday that he expected further rate cuts, adding that the pace of the reductions "will depend on how much progress we make on inflation, while keeping the labor market from weakening."
A Wall Street billionaire who was brought down by his relationship with the paedophile financier Jeffrey Epstein has become the latest wealthy figure to be linked with a takeover of The Telegraph.