CAC 40 Dips With Rate-cut Bets Back In Focus
(RTTNews) - French stocks were subdued on Thursday as softer U.S. consumer inflation data brought Fed rate cuts back into focus.
Closer home, the European Central Bank is widely expected to start cutting interest rates from a record high in June, with economists expecting up to three rate cuts this year.
The benchmark CAC 40 was down 30 points, or 0.4 percent, at 8,209 after closing 0.2 percent higher in the previous session.
The dollar was on the back foot while U.S Treasury yields sank to six-week troughs ahead of speeches by several Federal Reserve officials later in the day.
Banks BNP Paribas, Credit Agricole and Societe Generale were down around half a percent each.
Automaker Renault was down 0.6 percent.
read more
U.S. Labor Productivity, Costs Increase Less Than Previously Estimated In Q1
Revised data released by the Labor Department on Thursday showed U.S. labor productivity increased by slightly less than previously estimated in the first quarter of 2024. Unit labor costs also jumped by less than previously estimated during the quarter.
RTTNews
|
5h 4min ago
Maplebear Board Approves $500 Mln Share Repurchase Program
Delivery company Maplebear, Inc. (CART) revealed Thursday in a form 8-K filed with the U.S. Securities and Exchange Commission that its Board of Directors have approved a share repurchase program with authorization to purchase up to an aggregate of $500 million of the Company's common stock. The Share Repurchase Program has no expiration date.
RTTNews
|
5h 5min ago
U.S. Trade Deficit Widens To Largest Since October 2022
With the value of imports jumping by much more than the value of exports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened significantly in the month of April. The Commerce Department said the trade deficit surged to $74.6 billion in April from a downwardly revised $68.6 billion in March.
RTTNews
|
5h 10min ago
U.S. Jobless Claims Rise More Than Expected To 229,000
A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended June 1st. The Labor Department said initial jobless claims climbed to 229,000, an increase of 8,000 from the previous week's revised level of 221,000.
RTTNews
|
5h 17min ago
Nvidia Hits $3 Trln Market Cap, Overtakes Apple
Nvidia Corp. has breached the $3 trillion mark in valuation, becoming the second most valuable company in the U.S. Market overtaking tech giant Apple Inc on Wednesday. The artificial intelligence or AI chipmaker is gaining on the surging demand for AI chips worldwide.
RTTNews
|
5h 23min ago
Vanda Pharmaceuticals Receives Unsolicited, Non-binding $8.00/share Cash Offer From Cycle Group
Biopharmaceutical company Vanda Pharmaceuticals Inc. (VNDA) confirmed Thursday that it has received an unsolicited, non-binding indication of interest from Cycle Group Holdings Ltd. to acquire the Company for $8.00 per share in cash.
RTTNews
|
5h 25min ago
Halozyme Therapeutics Boosts FY24 Outlook On Grant Of European Patent
Biopharmaceutical company Halozyme Therapeutics, Inc. (HALO) announced Thursday that it is raising its full year 2024 financial guidance based on the grant of European Patent No. 4269578.
RTTNews
|
6h 6min ago
ECB Cuts Rates By 25 Bps As Expected On Improving Inflation Outlook
The European Central Bank lowered interest rates by a quarter basis point on Thursday, in line with expectations, citing an improvement in the inflation outlook. The Governing Council, led by ECB President Christine Lagarde, cut the main refinancing rate by 25 basis points to 4.25 percent.
RTTNews
|
6h 13min ago
