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At the Future Investment Initiative in Saudi Arabia, top finance executives from firms like Goldman Sachs, Morgan Stanley, and Apollo Global Management expressed skepticism about the likelihood of two Federal Reserve interest-rate cuts this year. None of the panelists indicated support for such market expectations, suggesting that bets on rate reductions may be excessive.
Bitcoin has surged past $71,000 as investors position themselves ahead of the US presidential election, with hopes that a Trump victory could lead to a more crypto-friendly administration. The market anticipates a potential record high for Bitcoin, contingent on overcoming key resistance levels, while Ether also sees increased demand. Upcoming US economic data, including non-farm payrolls, may influence market sentiment as investors await monetary policy decisions from the Federal Reserve.
Pfizer has exceeded earnings expectations and raised its full-year guidance, driven by strong sales from its Covid-related products. The company's performance highlights the ongoing impact of its pandemic offerings on overall financial results.
The Nikkei 225 has surged over 3% following Japan's recent election results, surpassing its 200-day SMA as the jobless rate hits an eight-month low. Meanwhile, the Dow Jones is experiencing low volatility ahead of key earnings, while the S&P 500 hovers below its all-time high, awaiting significant US megacap earnings.
The global aviation industry is facing significant challenges due to delays in aircraft deliveries from Boeing and Airbus, leading airlines to maintain older, less efficient jets. United Airlines has adjusted its fleet plans amid rising costs, while budget carriers in Europe and the US have scaled back growth targets. Long-haul airlines like Cathay Pacific and Lufthansa are also struggling with the delayed introduction of Boeing's 777X, now expected in 2026.
Healthcare M&A activity declined by 2.8% in Q3 2024, reaching its lowest level since Q3 2020, influenced by high borrowing costs and regulatory scrutiny. Notable transactions included Orlando Health's acquisition of three Florida hospitals from Steward Health Care for $439.4 million, part of Steward's divestiture following bankruptcy. The Professional Services sector led in transaction volume, particularly in dentistry, while private equity funding in announced deals fell to 7%.
Bitcoin's price has surged to $71,500, buoyed by optimism surrounding a potential Donald Trump victory, with betting odds favoring him significantly. Trump's commitment to retaining all bitcoins held by the US government and his vision of making the US a cryptocurrency leader further support this bullish sentiment. Technically, Bitcoin has broken out of a downtrend channel, suggesting a possible rally towards $100,000, with a critical resistance level at $73,000.
China is contemplating the approval of over 10 trillion yuan ($1.4 trillion) in additional debt over the next few years to stimulate its struggling economy. This fiscal package may be enhanced if Donald Trump secures victory in the upcoming U.S. election, according to informed sources.
This week, five of the Magnificent Seven stocks are set to release earnings, amid mixed performance and high valuations. The upcoming US job report is expected to show a moderation in job growth, influenced by temporary factors like hurricanes and strikes, which may affect the Fed's policy outlook. The S&P 500 remains close to its record high, with market participants awaiting key risk events, while sector performance has been impacted by corporate earnings and de-risking ahead of the US elections.
UBS Group AG has received an average "Hold" rating from five brokerages, with three analysts recommending a hold and two a buy. The stock opened at $32.39, showing a market cap of $103.84 billion and a P/E ratio of 61.10. UBS reported a quarterly EPS of $0.34, surpassing estimates, with revenue of $11.90 billion.
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finance leaders doubt likelihood of two federal reserve rate cuts this year
Morgan Stanley
Standard Chartered PLC
State Street Corporation
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10:46 29.10.2024
bitcoin surges ahead of us election as investors eye record highs
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10:09 29.10.2024
aviation industry faces challenges from delayed aircraft and rising costs
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10:00 29.10.2024
healthcare mergers and acquisitions face decline amid regulatory scrutiny and economic pressures
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09:59 29.10.2024
Bitcoin price surges on Trump victory hopes and bullish technical signals
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China plans 1.4 trillion dollar debt issuance to boost economy
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us job report expectations and market reactions ahead of key earnings
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09:32 29.10.2024
ubs group receives hold rating as analysts favor five better stocks
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