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us reportedly to propose ban on chinese software and hardware in connected cars; qualcomm reportedly in talks to acquire intel

2024-09-23

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fed governor bowman, who voted against the fed's policy meeting, said a 50 basis point rate cut could be seen as a signal that the central bank has prematurely declared victory over inflation. fed governor waller said that the positive inflation data was the main reason that prompted him to support a substantial rate cut, and he was more worried that inflation was weaker than expected.

overnight essentials

· u.s. stocks closed mixed on friday, with the nasdaq and s&p 500 falling slightly. u.s. treasury yields fell, with the gap between two-year and 10-year treasury yields close to its widest in 27 months. the dollar strengthened against the yen, hitting a two-week high after the bank of japan kept interest rates unchanged and said it was in no rush to raise rates again. gold prices broke through the $2,600 mark for the first time, extending gains boosted by bets on further u.s. rate cuts and rising tensions in the middle east. oil prices closed lower, but rose for the second consecutive week, thanks to u.s. rate cuts and falling u.s. supply.