The S&P 500 and Nasdaq indexes hovered near record highs on Thursday, lifted by a jump in chip stocks after lower-than-forecast producer inflation data fanned expectations of interest rate cuts from the Federal Reserve. Nasdaq component Broadcom soared 14.3% to hit a record high after the chipmaker raised its forecast for revenue from semiconductors used in artificial intelligence (AI) technology. A Labor Department report showed the U.S. producer price index (PPI) unexpectedly fell 0.2% month-on-month in May, compared with a 0.1% increase expected by economists polled by Reuters ..read more

(Bloomberg) -- Ukraine’s central bank delivered a third straight cut to borrowing costs as policymakers weigh the economic impact of Russian attacks on the nation’s energy sector.Most Read from BloombergApple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not CashHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.US Producer Prices Surprise With Biggest Decline Since OctoberGavin Newsom Wants to Curb a Labor Law That Cost Businesses $10 BillionChinese Trader’s $20 Million Pile of R ..read more

Supply will outstrip demand, and the spare capacity will be unlike ever "seen before other than at the height of the Covid-19 lockdowns in 2020,” IEA said ..read more

(Bloomberg) -- Bond traders loaded back up on interest-rate-cut bets — and even the pushback coming out of the Federal Reserve did little to shake their conviction.Most Read from BloombergApple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not CashHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.US Producer Prices Surprise With Biggest Decline Since OctoberGavin Newsom Wants to Curb a Labor Law That Cost Businesses $10 BillionChinese Trader’s $20 Million Pile of Russian Copper G ..read more

(Bloomberg) -- Treasuries rallied, sending most yields to the lowest levels since early April, as data on wholesale prices and jobless claims supported wagers the Federal Reserve will wind up cutting interest rates more than policymakers anticipate.Most Read from BloombergApple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not CashHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.US Producer Prices Surprise With Biggest Decline Since OctoberGavin Newsom Wants to Curb a Labor Law ..read more

A Minnesota agency's inadequate oversight of a federal program that was meant to provide food to kids, and its failure to act on red flags, created the opportunities that led to the theft of $250 million in one of the country's largest pandemic aid fraud cases, the Legislature's watchdog arm said Thursday in a scathing report. The Minnesota Department of Education “failed to act on warning signs known to the department prior to the onset of the COVID-19 pandemic and prior to the start of the alleged fraud, did not effectively exercise its authority to hold Feeding Our Future accountable to pro ..read more

(Bloomberg) -- Oil steadied, sustaining a week of solid gains, as cooling US inflation supported broader markets while Russia agreed to dial back output.Most Read from BloombergApple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not CashHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.US Producer Prices Surprise With Biggest Decline Since OctoberGavin Newsom Wants to Curb a Labor Law That Cost Businesses $10 BillionChinese Trader’s $20 Million Pile of Russian Copper Goes Missing ..read more

(Bloomberg) -- Oil steadied, sustaining a week of solid gains, as cooling US inflation supported broader markets while Russia agreed to dial back output.Most Read from BloombergApple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not CashHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.US Producer Prices Surprise With Biggest Decline Since OctoberGavin Newsom Wants to Curb a Labor Law That Cost Businesses $10 BillionChinese Trader’s $20 Million Pile of Russian Copper Goes Missing ..read more

(Bloomberg) -- Major OPEC+ producers will gather in Riyadh this weekend to debate oil output cuts after the Saudi-led group revised its meeting plans for a second time. Most Read from BloombergHomebuyers Are Starting to Revolt Over Steep Prices Across USWall Street Billionaires Are Rushing to Back Trump, Verdict Be DamnedModi Set for Landslide Election Win in India, Exit Polls ShowSaudi Arabia Puts Wall Street on Notice to Set Up Shop in RiyadhTrump Is Guilty on All Counts in Hush-Money Case. No ..read more

(Bloomberg) -- US diesel demand plummeted to its lowest seasonal level in 26 years in March, driven by slowing economic growth.Most Read from BloombergHomebuyers Are Starting to Revolt Over Steep Prices Across USWall Street Billionaires Are Rushing to Back Trump, Verdict Be DamnedModi Set for Landslide Election Win in India, Exit Polls ShowSaudi Arabia Puts Wall Street on Notice to Set Up Shop in RiyadhTrump Is Guilty on All Counts in Hush-Money Case. Now What?Product supplied of distillate — th ..read more