Eastern Bankshares, Inc., the parent company of Eastern Bank, announced two major strategic moves on Monday, September 19, 2023. The company agreed to sell its insurance operations to Arthur J. Gallagher & Co. for $510 million and to merge with Cambridge Bancorp, the parent company of Cambridge Trust Company, for...
Fed’s Powell Signals No Rate Hike Soon Despite Inflation Fears
The Federal Reserve announced on Wednesday that it will keep its key interest rate near zero and continue its bond-buying program until the economy shows more signs of recovery. Fed Chair Jerome Powell also downplayed the recent surge in inflation, saying it is likely to be transitory and not a...
Stock Market Today: Dow, S&P Live Updates for September 19 – Bloomberg
Asian stocks traded mixed on Tuesday, as investors awaited the outcome of the Federal Reserve’s policy meeting that could signal the future path of interest rates. The Dow Jones Industrial Average and the S&P 500 closed slightly lower on Monday, while the Nasdaq Composite dropped more than 1.5% amid a...
Asian Stocks Fall as Tech Selloff Weighs on Markets
Asian stocks opened lower on Monday, following a tech-led decline on Wall Street last week, as investors awaited the Federal Reserve and Bank of Japan policy meetings. The dollar and Treasury yields edged higher. Tech Giants Drag Down US Indices The S&P 500 erased its weekly gain, while the Nasdaq...
Ray Dalio advises new investors to diversify and brace for disruptions
Ray Dalio, the founder of Bridgewater Associates, one of the world’s largest hedge funds, spoke at the Milken Institute Asia Summit in Singapore last week. He shared his views on the changing world order, the implications of artificial intelligence, and the best strategies for new investors. Dalio warned of “great...