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Stock markets jump as US inflation cools, with eyes on Federal Reserve

Stock markets surged Wednesday after data showed US inflation slowed in May, raising hopes the Federal Reserve will cut interest rates later this year.

Wall Street's tech-heavy Nasdaq and broad-based S&P 500 extended gains in afternoon deals rallied to fresh records the previous day.(Unsplash)
Published on Jun 12, 2024 10:01 PM IST
AFP | | Posted by Shweta Kukreti

US inflation eases to 3.3% in May, defying expectations for slight rise

Wall Street's main indices opened higher following records the previous day while European markets rebounded after falling earlier this week.

Shoppers and pedestrians on Broadway in the Soho neighborhood of New York, US.(Bloomberg)
Published on Jun 12, 2024 08:12 PM IST
AFP |

Nvidia to overtake Apple as world's second-most valuable company soon

Nvidia's stock has nearly tripled in value over the past year to $2.68 trillion.

Nvidia's CEO Jensen Huang displays products on-stage during the annual Nvidia GTC Artificial Intelligence Conference at SAP Center in San Jose, California.(AFP)
Updated on Jun 03, 2024 08:20 AM IST
By | Edited by Mallika Soni

Dodgers owner Mark Walter's India bet ends in disaster: Here's what happened

Mark Walter recently he’s turned his attention to sports, acquiring major stakes in the Los Angeles Dodgers, the Los Angeles Lakers and Chelsea Football Club

Mark Walter estimated $6 billion wealth—derives from buying sleepy regional insurance companies, putting the premiums into higher-risk, higher-return investments and keeping a big chunk of the profits.
Published on May 23, 2024 10:26 AM IST
Bloomberg |

Ivan Boesky, inspiration for ‘Wall Street’ character Gordon Gekko, dies at 87

Boesky, who partly inspired the Gordon Gekko character in the 1987 movie “Wall Street,” was considered a genius at risk arbitrage - the business of speculating in takeover stocks

Boesky was once considered one of the richest and most influential risk-takers on Wall Street. (AP file photo)
Updated on May 21, 2024 12:06 PM IST
ByReuters
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