Shristi Achar

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U.S. stocks were poised for a lower open on Tuesday as stronger-than-expected labor costs signaled persistent inflationary pressures, while caution prevailed ahead of the Federal Reserve's interest rate decision. Money markets are largely expecting the U.S. central bank to stand pat on interest rates this meeting, while pricing in just about 31 basis points (bps) of rate cuts this year, down from about 150 bps estimated at the start of 2024, according to LSEG data. "This pretty much tells you that the Fed is going to be very reluctant to reduce short-term interest rates in 2024 and that's had the predictable impact on the stock market," said Hugh Johnson, chief economist at Hugh Johnson Economics.

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It is expected ECB will ease borrowing costs by 25 basis points from the current record level of 4%

By Shristi Achar A (Reuters) -European shares pared gains on Thursday after the European Central Bank (ECB) delivered a widely expected interest rate cut but provided no outlook for future moves.

(Reuters) -Nvidia became the world’s most valuable company on Tuesday, dethroning tech heavyweight Microsoft, as its chips continue to play a central role in a race to dominate the market for artificial intelligence.