Beat the street: Fed rate-cut hopes rise; ADP; Hewlett Packard Enterprise; Intel
More signs of a weakening labour market and slowing economic growth prompt rising Fed rate-cut bets. AI-server demand powers Hewlett Packard Enterprise’s strong results.
Plus, Intel’s shares rise after Apollo Global Management said it would pay $11 billion for 49% of the company’s Ireland factory joint venture.
(AI Video Summary)
US Fed rate cut outlook
In today's edition of "Beat the street", Angeline Ong discusses that expectations of a US Federal Reserve rate cut have heightened, influencing the US stock market which is leaning towards a bullish open. Market sensitivity was evident with stocks trading lower in anticipation of the ADP jobs report revealing weaker employment growth than expected. This underscores broader economic slowdown indicators, with potential implications for future Fed actions, particularly rate adjustments.
Corporate news
Additionally, Intel is in focus after a significant deal regarding its Ireland manufacturing unit, while Dollar Tree explores divesting its underperforming Family Dollar segment. Macro trends and specific corporate strategies are creating a cautiously optimistic but volatile market environment, impacting sectors from retail to technology.
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