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J.P. Morgan sees S&P 500 at 7,500 by end 2026, double-digit gain from here

By Caroline Valetkevitch NEW YORK (Reuters) -The benchmark S&P 500 should end next year at 7,500, helped by a resilient U.S. economy and an artificial intelligence-driven "supercycle," according to Dubravko Lakos-Bujas, J.P. Morgan's head of global markets strategy. The index ended Tuesday at 6,765.89. If the ...
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Shein faces European Union scrutiny over child safety and illegal products

LONDON (AP) - European Union regulators are stepping up scrutiny of Shein's safety measures after French authorities found illegal weapons and child-like sex dolls on the fast-fashion company's website. The European Commission said Tuesday it was using the 27-nation bloc's digital rulebook to demand ...
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Tether’s stablecoin downgraded to ‘weak’ in S&P assessment

By Elizabeth Howcroft PARIS (Reuters) -S&P Global has downgraded its rating of the world's largest stablecoin, Tether, citing an increase in higher-risk assets in the cryptocurrency's reserves and "persistent gaps in disclosure", the ratings agency said on Wednesday. S&P in 2023 created a new scale from ...
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Grindr’s majority shareholders scrap $3.46 billion take-private bid

(Reuters) -Grindr's majority shareholders Ray Zage and James Lu have withdrawn their $3.46 billion offer to take the dating app private, the bidders said on Wednesday. (Reporting by Kritika Lamba in Bengaluru; Editing by Tasim Zahid) Brought to you by www.srnnews.com
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Wall Street opens higher as December Fed rate-cut bets grow

(Reuters) -Wall Street's main stock indexes opened higher on Wednesday, as investors parsed through a fresh batch of economic data and cemented expectations the Federal Reserve could cut interest rates in December. The Dow Jones Industrial Average rose 83.7 points, or 0.18%, at the open ...
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MacKenzie Scott’s college roommate once loaned her $1K. Now it’s the billionaire’s turn to invest

NEW YORK (AP) - MacKenzie Scott, one of the world's wealthiest women and most influential philanthropists, is now known for her "no strings attached" surprise grantmaking. But, as a Princeton University sophomore, she learned what it was like to be on the receiving end ...
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US core capital goods orders and shipments soar in September

WASHINGTON (Reuters) -New orders for key U.S.-manufactured capital goods surged in September and shipments of these goods increased solidly, cementing economists' expectations that economic growth accelerated in the third quarter. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, jumped 0.9% ...
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Explainer-European carmakers hope for reprieve on 2035 combustion engine ban

(Reuters) -Europe's embattled carmakers are hoping for a reprieve when Brussels unveils an auto sector package next month, which could water down an effective ban on new combustion engines initially slated for 2035 as a shift towards electric engines stutters. The continent's automakers from ...
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Wall Street futures edge up as December Fed cut bets grow, data awaited

By Johann M Cherian and Pranav Kashyap (Reuters) -U.S. stock index futures ticked higher on Wednesday, as Wall Street priced in a possible Federal Reserve rate cut in December and braced for fresh economic data that could provide greater clarity on the health of the ...
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World’s central banks are wary of AI and struggling to quit the dollar, survey shows

By Libby George LONDON (Reuters) -Artificial Intelligence is not a core part of operations at most of the world's central banks and digital assets are off the table, according to a survey released on Wednesday by the Official Monetary and Financial Institutions Forum. The working group ...
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Morning Bid: Giving thanks for bad economic news

By Anna Szymanski -By Anna Szymanski, Editor in Charge, Reuters Open Interest What matters in U.S. and global markets today Weaker-than-expected U.S. economic data has upped bets for a Federal Reserve interest rate cut next month, giving global equities a boost as we move into the ...
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Hedge funds bet against UK firms as budget looms, says Goldman Sachs

By Nell Mackenzie LONDON (Reuters) -Stock-picking hedge funds now have the biggest short positions since 2023 on UK-based stocks exposed to the domestic economy, according to a Goldman Sachs client note. The group bulked up on these positions ahead of Wednesday's presentation of the highly-anticipated budget, ...
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