Stocks Gain, Fed Minutes Show Rate-Hike Scenario, More
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What is the main topic discussed in this episode?
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News when you want it. With Bloomberg News Now, I'm Ed Kalecki. A rebound in stocks gained traction amid easing jitters around artificial intelligence disruption, while a slew of data show the U.S. economy is holding up. Bonds fell. Bitcoin sank to around 66,000. Oil jumped. The Wednesday numbers on Wall Street, the Dow was up 129. NASDAQ gained 175. The S&P added 38. The 10-year Treasury yield is at 4.08 percent. The two-year yield is at 3.46 percent. Federal Reserve officials signaled renewed worries over inflation with several policymakers suggesting the central bank may need to raise interest rates if inflation stays above their goal. Here's Bloomberg's Mike McKee.
Several participants indicated that they would have supported a two-sided description of the committee's future interest rate decisions, reflecting the possibility that upward adjustments could be appropriate.
Minutes of the Federal Open Market Committee's January 27th and 28th meeting released Wednesday also revealed that a vast majority of participants judged that downside risks to employment had moderated in recent months, while the risk of more persistent inflation remained. The FOMC voted 10-2 at the meeting to hold the benchmark federal funds rate in a range of 3.5% to 3.75%. Crews have found the bodies of eight backcountry skiers that are searching for one more who is still missing after an avalanche in the mountains near Lake Tahoe, making it the deadliest U.S. avalanche in nearly half a century. Sheriff Shannon Moon made the announcement.
Of the six, one was a Blackbird mountain guide and five survivors were clients on that tour.
Sheriff Moon then talked about the terrain.
It's a very remote, rugged area on the north side of the highway there. It is not a groomed area or a ski resort area. This is a backcountry area, rugged terrain.
Authorities have told the families the mission has moved from rescue to recovery. Six others from the same group of skiers were rescued Tuesday. They were on a three-day trek in northern California's Sierra Nevada.
What factors are contributing to the recent stock market rebound?
as a monster winter storm pummeled the west coast billionaire retail tycoon leslie wexner told a u.s house panel wednesday that he visited disgraced financier jeffrey epstein's private caribbean island but said he wasn't aware of epstein's sex trafficking operation at the time wexner said he visited the island once with his wife and children for a few hours while the family was in the area on their boat this according to an opening statement wexner made and a deposition to congressional investigators that was provided to Bloomberg News by his attorney. The House Oversight Committee has been investigating what role Epstein's broad network of connections may have played in facilitating his enterprise or delaying criminal prosecution.
This is California Democrat Robert Garcia, ranking member of the House Oversight Committee.
Mr. Wexner admitted that he traveled to both Epstein's Island as well as his other properties. Mr. Wexner also admitted that Jeffrey Epstein had access to a lot of Mr. Wexner's wealth.
And Texas Democrat Jasmine Crockett.
As a trained attorney and litigator, once they told me he wasn't taking the fifth, I thought that the record would be full of I don't remembers. I will tell you that once this record comes out, you will see that you most likely will be left with more questions than answers.
Oil gained as traders weighed whether talks between the U.S. and Iran will be enough to avert conflict, following a report that American military intervention could come sooner than expected. Brent crude briefly rose above $70, while West Texas Intermediate rose as much as 4.1 percent to trade near $65 a barrel after Axios reported that any U.S.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–2:33
2
What factors are contributing to the recent stock market rebound?
2:33–5:30
3
What insights did the Federal Reserve minutes provide on interest rates?
5:30–6:33
4
What were the key points from the Federal Open Market Committee's recent meeting?
6:33–8:47
Speakers
9 identifiedMore from Bloomberg News Now
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