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  • Oct 08, 2024

Smaller US trade deficit supports strong economic growth estimates for third quarter

WASHINGTON (Reuters) -The U.S. trade deficit narrowed sharply in August as exports increased to a record high, suggesting trade could have little or no impact on economic growth in the third quarter. The economy's strength likely has no impact on expectations that the Federal Reserve will cut interest rates again next month. Economists at Goldman Sachs maintained their forecast for gross domestic product to rise at a 3.2% annualized rate in the July-September quarter after the trade data.

  • Oct 08, 2024

Chile Inflation Undershoots Forecasts Before Rate Decision

(Bloomberg) -- Chile’s consumer prices rose less than forecast last month, providing the central bank with some good news as policymakers signal they will cut the interest rate again next week.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesWhat Do US Vehicle Regulators Have Against Tiny Cars?Chicago’s $1 Billion Budget Hole Ex

  • Oct 08, 2024

FirstRand Turns More Bullish on South Africa’s Economy, Rand

(Bloomberg) -- FirstRand Ltd. has turned more bullish on South Africa’s economy, and now sees a greater chance of economic growth accelerating to 2% and the rand strengthening to below 16 per dollar next year.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesWhat Do US Vehicle Regulators Have Against Tiny Cars?For a Master of Bru

  • Oct 08, 2024

Morning Bid: Stocks stall, Hang Seng decimated, oil ebbs

World markets painted a messy picture on Tuesday, with recently pumped-up crude oil prices retreating sharply and disappointment surrounding China's economic stimulus already setting in - knocking Hong Kong shares back almost 10%. The return of mainland Chinese markets after a week's holiday there did see the CSI300 index play catch-up with another jump of about 6%. Chinese officials said they were fully confident of achieving this year's 5% GDP growth target.

  • Oct 08, 2024

In the Market: Fed may struggle to rid backstops of stigma amid new push

The U.S. Federal Reserve is encouraging banks to count on its long-shunned cash backstops in a bid to support its monetary policy and financial stability goals. The Fed’s discount window and the Standing Repo Facility (SRF) are credit backstops where lenders can get cash against collateral such as Treasury bonds.

  • Oct 08, 2024

Everything to know about Nvidia, from the stock to its AI chips

Nvidia has emerged as one of the hottest artificial intelligence stocks on the market. The 31-year-old company’s meteoric rise is largely due to the recent AI boom, which revealed the unexpected potential of its core product, the graphics processing units (GPUs), for AI development.

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