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Rate-sensitive stocks plummeted on Wednesday after the Federal Reserve scaled back its forecast for future interest rate cuts and projected inflation would run hotter than previously expected next year.

In a year marked by three consecutive rate cuts totaling 100 basis points, Federal Reserve Chair Jerome Powell said the Fed is shifting gears to a more cautious stance heading into 2025 as interest rates move tantalizingly close to a neutral environment for the economy. Following the latest 25-basis-point reduction announced Wednesday, the federal funds rate now sits at 4.25%-4.5%, the lowest since January 2023. “We’re significantly closer to neutral,” Powell said during the post-meeting press c

Stocks eyed a rebound Wednesday, with the blue-chip Dow looking to snap its longest losing streak since 1978

The president-elect’s inaugural fund donors range from CEOs like Sam Altman and Ken Griffin, to Meta, Amazon, Bank of America and Goldman Sachs.

A new acronym has been making the rounds since another potential tech kingmaker — Broadcom — began closing in on the $1 trillion market cap club last week.

For all the extreme bullishness about 2025, Wall Street is just a bit edgy as the Federal Reserve looks set to deliver its final interest rate of 2024 and give a glimpse into next year. Remarkably, the Dow Jones Industrial Average's 9-day losing streak is the longest negative run since 1978 - but the index is still just under 4% from record highs set earlier this month. As Treasury yields have backed up sharply again over the past fortnight - even as the latest U.S. industrial production and retail sales excluding autos missed forecasts for last month - the yearend is looking more anxious than ebullient new year forecasts suggest.

Jefferies initiated a "buy" rating on Rocket Pharmaceuticals, based on the biotech firm's experimental gene therapies.

Zach Jecklin of Echo Global Logistics discusses the importance of providing good service through difficult freight markets, Echo’s strategy to leverage AI and how technology can help maintain relationships without eliminating human oversight. The post Focus on relationships is the key to navigating market downturns appeared first on FreightWaves.

December is shaping up to be a tale of two markets.

An investment firm's analysts compile a list of their top tech recommendations for the coming year.