Top News: Top Financial Services News of the Day – Monday at 11:00 a.m. ET

Labor market is not 'flashing red,' two top Fed officials say

Two top Federal Reserve officials said Monday they did not think the job market was weakening dangerously, but the risk of further weakness justified a half-percentage-point rate cut last week.

 
Pro Take: Look Out for Hungry Unicorns

Venture capitalists both cheered the Fed’s half-percentage-point rate cut last week and acknowledged that its effects will take time to sink in across the startup ecosystem. But when they do, expect software unicorns to go after M&A deals.

 
UniCredit Ups Ante in Pursuit of Germany's Commerzbank

The Italian lender has moved to raise its stake in Commerzbank above 20%, ignoring German opposition to a possible takeover.

 
The Rate Cut Happened. Not All Borrowing Costs Are Going Down.

The yield on the 10-year Treasury note is a reminder that the Federal Reserve does not have full control over the cost of borrowing.

 
The Fed Is Flying Blind. Investors Don't Seem to Care.

Markets welcomed the central bank’s dovish stance following last week’s big interest rate cut.

 
Binance CEO Invests in Compliance to Move on From Past Mistakes

The cryptocurrency exchange said it spent about $213 million on compliance programs in 2023.

 
Germany to Keep Commerzbank Shares After UniCredit Takes Stake

The government said it would not sell any additional shares in the bank following the €702 million sale to UniCredit. The move marks a U-turn for the government.

 
The Lone Dissenter Inside the Fed Who Voted Against Powell's Rate Cut

Gov. Michelle Bowman, who had advocated for a smaller cut, expressed concern that moving too quickly could seem like “declaring victory prematurely.”

 
Annuities' New Golden Age Probably Isn't Over Yet

High interest rates supported annuity sales, but other factors contributed as well.

 
How Five Wall Street Investors Will Trade Falling Interest Rates

The world of 5% yields is coming to an end.

(END) Dow Jones Newswires

September 23, 2024, 11:15 ET (15:15 GMT)