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The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. Sarah Silbiger | Reuters Markets are nearly certain the Federal Reserve next month will take another step down in the pace of its interest rate increases. Pricing Wednesday morning point ed to a 94.3% probability of a 0.25 percentage point hike at the central bank's two-day meeting that concludes Feb. 1, according to CME Group data. If that holds, it would take the Fed's benchmark borrowing rate to a targeted range of 4.5%-4.75%. related investing news JPMorgan says take profits on this rally as it will start to fade in the first quarter Jesse Pound a day ago While the probability is little changed since late last week, economic data Wednesday helped solidify the idea that after a succession of aggressive hikes — four consecutive three-quarter point hikes in 2022, at one point — the Fed is ready to take its foot off the brake a bit more. The producer price index fell 0.5% in December while retail sales...

Hundreds of Tesla owners gathered at the automaker's showrooms and distribution centers in China over the weekend, demanding rebates and credit after sudden price cuts they said meant they had overpaid for electric cars they bought earlier. On Saturday, about 200 recent buyers of the Tesla Model Y and Model 3 gathered at a Tesla delivery center in Shanghai to protest against the U.S. carmaker's decision to slash prices for the second time in three months on Friday. Many said they had believed that prices Tesla charged for its cars late last year would not be cut as abruptly or as deeply as the automaker just announced in a move to spur sales and support production at its Shanghai plant. The scheduled expiration of a government subsidy at the end of 2022 also drove many to finalize their purchases. Videos posted on social media showed crowds at Tesla stores and delivery centers in other Chinese cities from Chengdu to Shenzhen, suggesting wider consumer backlash. After Friday’s s...

In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNT The crypto market has been battered this year, with more than $2 trillion wiped off its value since its peak in Nov. 2021. Cryptocurrencies have been under pressure after the collapse of major exchange FTX. Jonathan Raa | Nurphoto | Getty Images 2022 marked the start of a new "crypto winter," with high-profile companies collapsing across the board and prices of digital currencies crashing spectacularly. The events of the year took many investors by surprise and made the task of predicting bitcoin's price that much harder. The crypto market was awash with pundits making feverish calls about where bitcoin was heading next. They were often positive, though a few correctly forecast the cryptocurrency sinking below $20,000 a coin. But many market watchers were caught off guard in what has been a tumultuous year for crypto, with high-profile company and project failures sending shock waves across the indust...

Even as inflation persists, there are some bright spots where high prices are easing, Walmart's CEO said Tuesday. Toys, clothing, and sports equipment categories are all seeing prices come down, Doug McMillon told CNBC. “In toys, sporting goods , apparel, and categories like that, price s have come down more aggressively,” McMillon said in the interview. “We’re still inflated but we’re not inflated nearly as much as we are in (other) categories.” TVs, too, are benefiting from instances in which consumers are able to be less selective about their purchases as they consider pricing, McMillon said. How Walmart's CEO feels about American spending habits amid economic pressure Dec. 6, 2022 00:51 The categories are all ones in which big-box retailers placed large backlogs of orders as the pandemic set in. They ultimately ended up with excess inventory as supply chain hiccups eased and demand slowed down. Other companies have recently discussed seeing similar easing of price pressure...

BRUSSELS — The European Union tentatively agreed to a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. After a last-minute flurry of negotiations, the EU presidency, held by the Czech Republic, said in a statement that “ambassadors have just reached an agreement on price cap for Russian seaborne #oil.” The decision must still be officially approved with a written procedure but is expected to go through. They needed to set the discounted price that other nations will pay by Monday, when an EU embargo on Russian oil shipped by sea and a ban on insurance for those supplies take effect. The price cap, which was led by the Group of Seven wealthy democracies and still needs their approval, aims to prevent a sudden loss of Russian oil to the world that could lead to a new surge in energy price s and further fuel inflation. The $60 figure...

Artistgndphotography | E+ | Getty Images Televisions are among just a handful of consumer goods and services that have dropped in price in the last year — which may translate to steep discounts for shoppers on Black Friday and Cyber Monday. What's more, 38% of shoppers say they'll likely buy a TV during Thanksgiving week, including Cyber Monday, according to a recent Consumer Technology Association survey. related investing news The ultimate Thanksgiving portfolio with costs on the rise Jesse Pound 2 hours ago Despite a challenging holiday period, KeyBanc sees a few retail stock winners Samantha Subin 6 hours ago "Those lucky enough to be in the market for a TV are going to find some excellent deals right now," said Rick Kowalski, director of industry analysis and business intelligence at the association. Why TV prices are falling amid broader inflation Average TV prices fell by almost 17% in October 2022 compared with the same month in 2021, according to the consu...

U.S. gas prices are now at their lowest level since the February start of Russia's war in Ukraine, which sent prices soaring. But at $3.61, it's still the highest price ever recorded for the week of Thanksgiving by AAA. Blame inflation. “The national average has fallen sharply since the June peak of nearly $5.02,” said Andrew Gross, AAA spokesperson, in a statement. “But this Thanksgiving will be about 20 cents higher than a year ago, and a dollar more per gallon than a pre-pandemic 2019." "However, we can be thankful that gas prices are moving in the right direction for now,” Gross said. prices _221117_1920x1080-udm0m6.jpg"/> prices _221117_1920x1080-udm0m6.jpg"/> Gas prices dip ahead of Thanksgiving travel , could dip even further Nov. 17, 2022 00:25 There remains wide geographic variability in gas prices , with averages in southern U.S. states well below the national rate. Notably, the price of gasoline in Texas has broken below $3 to an average o...