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By Pete Schroeder (Reuters) -Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank’s annual “stress tests” of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed’s practice of determining how big banks perform against hypothetical economic turmoil, and … Read more
The only person who knows what Roki Sasaki wants could be Roki Sasaki. (Photo by Eric Espada/Getty Images) Roki Sasaki has 26 days until he has to sign with an MLB team or go back to Japan. His list of potential destinations is beginning to take shape. The Los Angeles Dodgers, long considered favorites for … Read more
A recent survey shows small business owners are feeling more optimistic about the economy following the election. The National Federation of Independent Businesses’ Small Business Optimism Index rose by eight points in November to 101.7, its highest reading since June 2021. The Uncertainty Index declined 12 points in November to 98, following October’s pre-election record … Read more
The Federal Reserve may overhaul its annual stress tests for large U.S. banks to reduce the volatility of the results, but also make them more transparent. While the Fed did not offer specifics beyond general processes it’s considering, it did say in a statement the goal was not to “materially affect overall capital levels.” “The … Read more
(Bloomberg Law) — The Federal Reserve doesn’t allow for appropriate public input when designing bank stress tests, bank trade groups said in a lawsuit seeking to force the central bank to open the design of the tests to public comment. Most Read from Bloomberg The suit, filed Tuesday in the US District Court for the … Read more
(Bloomberg) — Bank of Thailand expects inflation to stay within the 1% to 3% target range in the next two years, Governor Sethaput Suthiwartnarueput said, describing the band as appropriate and supportive of the nation’s growth potential. Most Read from Bloomberg The central bank chief said the inflation target, which has been kept for a … Read more
A.J. Brown and the Philadelphia Eagles play the Dallas Cowboys this Sunday, here’s how to watch. (Scott Taetsch/Getty Images) The Philadelphia Eagles will be playing without Jalen Hurts this week when they face their division rivals the Dallas Cowboys on Sunday. The starting quarterback suffered a concussion during last week’s game against the Commanders, and … Read more
WASHINGTON (AP) — The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Jobless claim applications ticked down by 1,000 to 219,000 for the week of Dec. 21, the Labor Department reported Thursday. That’s fewer than the 223,000 analysts forecast. Continuing claims, … Read more
There are a few more days to go in 2024, but unless something disastrous happens, the stock market will deliver a second consecutive year of impressive gains. As of the 12/27 close, the S&P 500 is up 25%. The tech-heavy Nasdaq 100 is up about 27%. Hard to be mad about those returns, especially given … Read more
(Bloomberg) — Gold (GC=F) rose in thin US holiday trading as investors digesting mixed domestic jobs data while mulling the outlook for Federal Reserve interest-rate moves. Most Read from Bloomberg Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it’s taking longer for out-of-work people … Read more