Wall Street falls as energy drags; focus shifts to Fed meeting
U.S. stocks edged lower on Tuesday as a drop in oil prices weighed on the energy sector, while investors stayed away from making big bets ahead of the Federal Reserve’s two-day policy meeting, where it is widely expected to cut interest rates.
U.S. manufacturing production rebounds; trend still weak
U.S. manufacturing output increased more than expected in August, boosted by a surge in machinery and primary metals production, but the outlook for factories remains weak against the backdrop of trade tensions and slowing global economies.
Oil drops sharply as Saudi output seen returning soon after attacks
Oil prices dropped sharply on Tuesday after a top Saudi Arabian source told Reuters production could be fully back on line within weeks, quicker than initially thought following weekend attacks that cut halved the kingdom’s output.
U.S. effective fed funds rate jumps on Monday: New York Fed data
What U.S. banks charge each other to borrow reserves overnight jumped on Monday, prompted by a jump in money market rates amid scarcity in cash available for lending, according to data from the New York Federal Reserve released on Tuesday.
New York Fed to hold overnight repo operation
The New York Federal Reserve said on Tuesday it will hold an overnight repurchase agreement operation from 9:30 a.m. to 9:45 a.m. ET (1330 to 1345 GMT) “in order to help maintain the federal funds rate within the target range” of 2.00-2.25%.
Wall Street drops at open; Fed in focus
U.S. stocks fell at open on Tuesday as investors stayed away from making big bets ahead of the Federal Reserve’s two-day policy meeting, where it is widely expected to cut interest rates.
Wework 7.875% bond falls 96.3 cents, lowest since August
WeWork’s 7.875% bond due in May 2025 fell 5.46 points to 96.3 cents in early trading on Tuesday after its parent, the We Company, postponed its initial public offering.
U.S. manufacturing production rebounds in August
U.S. manufacturing output increased more than expected in August, boosted by a surge in machinery and primary metals production, but the outlook for factories remains weak against the backdrop of trade tensions and slowing global economies.
Trump’s Fed pick, Shelton, calls for Fed coordination with White House
Judy Shelton, U.S. President Donald Trump’s pick to fill a vacant seat at the Federal Reserve, downplayed the independence of the central bank on Tuesday and called on the Fed to work more closely with the White House, an approach that would upend how …
Benettons set to shake up Atlantia as bridge probe escalates: sources
The Benetton family is set to replace the powerful head of Atlantia with a management board and co-opt a veteran right-hand man to help steer the infrastructure group through fallout from a deadly bridge collapse, three sources said.
