Wall Street firms predict September interest rate cut

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 10 June 2024

⏱️ 1 minutes

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Summary

Latest predictions come as Fed officials prepare to meet; Nvidia completes stock split; Norway sovereign wealth fund is latest shareholder to oppose Tesla’s Musk pay; Supreme Court to hear Meta appeal of lawsuit sparked by Cambridge Analytica scandal.

Transcript

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0:00.0	The latest predictions on interest rate cuts.
0:04.7	I'm Novasafo with the Marketplace Minute.
0:07.3	Federal Reserve policy makers meet this week to talk interest rates.
0:11.4	No change is expected, but several Wall Street firms now expect
0:15.2	cuts to start in September and total no more than three quarters percentage points
0:19.8	this year. Invidia stock began trading today at prices one-tenth of last weeks,
0:26.0	because now there are ten times as many shares thanks to a stock split.
0:29.8	The company's profits and valuation have soared amid heated demand for AI chips.
0:36.0	Norway's Sovereign Wealth Fund is the latest major Tesla shareholder planning to vote against
0:41.5	Elon Musk's 56 billion dollar pay package.
0:45.0	The issue is up for a vote at a shareholder meeting Thursday.
0:49.0	The Supreme Court has agreed to hear Facebook Parent Meta's challenge of a lawsuit over allegedly failing to disclose data breaches.
0:57.0	This has to do with news reports and a subsequent share plunge four years ago.
1:02.0	I'm Novasafo with a marketplace minute.

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