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US stocks opened higher on Wednesday, with techs vaulting back from a steep sell-off as investors digested Federal Reserve Chair Jerome Powell’s stance that interest rate cuts are still likely this year. The tech-heavy Nasdaq Composite (^IXIC) jumped about 1% after techs led a sharp slide in stocks more broadly on Tuesday. The S&P 500 (^GSPC) added more than 0.6%, while the Dow Jones Industrial Average (^DJI) popped 0.5%, as both indexes came off losses of more than 1%. Powell’s testimony to… Source link

Former President Donald Trump swept nearly all of this year’s Super Tuesday primaries and caucuses, routing his last major rival for the Republican presidential nomination, former South Carolina Gov. Nikki Haley. Haley announced Wednesday morning that she is suspending her campaign, clearing the way for Trump’s rematch with President Biden, the Democrat who beat him in 2020. Biden also won lopsided victories on Tuesday across 15 states. Trump, who gained several hundred delegates with major… Source link

(Bloomberg) — Investors dumped a record amount of cash into BlackRock’s Bitcoin ETF while the cryptocurrency surged to an all-time high. Most Read from Bloomberg The iShares Bitcoin ETF (ticker IBIT) pulled $788.3 million Tuesday, its 37th consecutive inflow. The fund has now swelled to $11.5 billion in assets. Bitcoin briefly topped $69,000 on Tuesday, surpassing the all-time high it hit in late 2021. Demand from the ETFs and a optimism surrounding an upcoming reduction in the token’s… Source link

Federal Reserve Chair Jerome Powell plans to tell House lawmakers Wednesday that interest rate cuts are likely “at some point” in 2024, but that the central bank will proceed cautiously as it evaluates whether inflation is cooling appropriately. “If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year,” Powell said in a copy of his prepared remarks to the House Financial Services Committee. The group at the Fed… Source link

The Rose Bowl ended up being Nick Saban’s last game at Alabama. (Photo by Steve Limentani/ISI Photos/Getty Images) Nick Saban was not thrilled with the way that his team reacted to losing the Rose Bowl. Alabama lost 27-20 to eventual national champion Michigan in the College Football Playoff on Jan. 1. The overtime loss came after Jalen Milroe’s fourth-down run was stopped at the line of scrimmage. Milroe took off toward the end zone after a low snap on what appeared to be a designed… Source link

By Samuel Indyk and Brigid Riley LONDON (Reuters) -The U.S. dollar was a touch softer on Wednesday, as traders kept their powder dry ahead of the first leg of congressional testimony from Federal Reserve Chair Jerome Powell and the European Central Bank’s policy announcement on Thursday. Meanwhile, bitcoin was picking up a head of steam again, although it stayed below the record high reached the day before. The absence of major catalysts kept the dollar under pressure, having slipped on Tuesday… Source link

Subscribe to the Yahoo Fantasy Football Show No need to wait until next week for free agency to start, we tell you where everyone is going right now. Fantasy expert Tera Roberts joins Matt Harmon for our annual free agency matchmaking show. Harmon and Roberts react to the franchise tag deadline and other major pre-free agency moves that have taken place earlier this week. Harmon and Roberts then predict where the top free agent QBs land. Both believe Kirk Cousins has played his last snap in… Source link

The Houston Texans are keeping tight end Dalton Schultz and star quarterback C.J. Stroud together. Schultz and the Texans agreed to a three-year contract worth $36 million, including 23.5 million fully guaranteed, a source confirmed to Yahoo Sports’ Jori Epstein on Tuesday. The news was first reported by NFL Network’s Ian Rapoport. The 27-year-old arrived to the Texans after spending the first five years of his career with the Dallas Cowboys. He was set for unrestricted free agency after he… Source link

President Biden and former President Donald Trump each notched a string of resounding victories on Super Tuesday that brought them even closer to a 2024 rematch of their fierce battle in 2020 for the White House. Biden notched early wins in Iowa, North Carolina, Virginia, Vermont, Tennessee, Oklahoma, Massachusetts, Maine, Arkansas, Alabama and Texas according to the Associated Press, while former President Donald Trump scored victories over former South Carolina Governor Nikki Haley in… Source link

(Bloomberg) — Stocks came under pressure as a trio of tech heavyweights fell, with traders wading through mixed economic data in the run-up to Jerome Powell’s testimony to Congress. Most Read from Bloomberg Equities lost traction after a rally that has spurred concern about sky-high valuations — especially in megacaps, leaving the group vulnerable to big moves in the face of bad news. Apple Inc.’s iPhone woes in China deepened while Advanced Micro Devices Inc. hit a US roadblock in… Source link