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BNY Mellon Cautions on SEC’s Clearing Proposal Timing Amid Turbulent Markets

In a classic tango between expectation and reality, the Federal Reserve’s members sprang into action on Tuesday, dampening hopes that the era of rate hikes had met its demise. The stage is now set for Fed chairman Jerome Powell to potentially throw a hawkish curveball against the recent loosening of financial conditions.

Federal Reserve Governor Michelle Bowman led the charge, reminding eager market players that assumptions of the Fed keeping rates unchanged were a tad premature. The flurry of comments reignited a flicker of hope among investors for potential rate hikes. However, with many still clinging to the notion that the Fed’s hiking spree has wrapped up, Treasury yields found it challenging to shake off their recent gloom, lingering in the aftermath of the Fed’s decision to maintain rates last week and Powell’s notably dovish press conference on November 1.

The odds of a rate hike in the upcoming December and January meetings are currently dismal, standing at a meager 10% and 15% respectively, according to’s Fed Rate Monitor Tool.

The pressing question now looms over Jerome Powell’s shoulders: will he combat these expectations? The Fed’s overarching message revolved around deciphering why Treasury yields are spiraling upward. If these escalations in yields primarily hinge on predictions of the Fed’s next move, they might not necessarily align with the Fed’s forward-looking policy considerations.

Powell’s upcoming stance remains the market’s mystery, as the tug-of-war between expectations and Fed action continues to shape the narrative of future rate hikes. The stage is set, the players are in motion, and the spotlight remains fixed on the enigmatic Fed chairman.

Dow futures tick lower, Disney up 2.9% after earnings

US stock futures were trading lower during Wednesday’s evening deals, after a mixed session among major benchmark averages as investors closely monitored a slew of Federal Reserve speeches.

By 6:35 pm ET (11:35 pm GMT) Dow Jones Futures were 0.1% lower while S&P 500 Futures and Nasdaq 100 Futures lost 0.2% apiece.

In extended deals, Walt Disney (NYSE:DIS) lifted 2.9% after reporting Q4 EPS of $0.82 versus $0.71 expected, while revenues came in at $21.24 billion versus $21.37 billion expected.

AppLovin (NASDAQ:APP) gained 16.7%, reporting Q3 EPS of $0.30 versus $0.27 expected on revenues of $864 million versus $797.12 million expected.

Affirm Holdings (NASDAQ:AFRM) added 10.6% after the company reported Q1 losses of $0.57 per share versus expected losses of $0.64 per share. Revenues were reported at $497 million versus $444.45 million expected.

Twilio (NYSE:TWLO) lifted 7.4%, reporting Q3 EPS of $0.58 versus $0.37 expected on revenues of $1.03 billion versus $989.95 million expected.

Arm Holdings (NASDAQ:ARM) fell 6.5% after the company reported Q2 EPS of $0.36 versus $0.26 expected, with revenues coming in at $806 million versus $746.9 million expected.

HubSpot (NYSE:HUBS) added 6.3% after reporting Q3 EPS of $1.59 versus $1.24 expected on revenues of $557.6 million versus $534.13 million expected.

Ahead in Thursday’s trade, investors will be monitoring fresh jobless claims data as well as a speech from Powell.

Among earnings, companies including AstraZeneca PLC (LON:AZN) ADR (NASDAQ:AZN), Becton Dickinson and Company (NYSE:BDX), SoftBank (TYO:9984) Group Corp. (OTC:SFTBF), Honda Motor Co Ltd ADR (NYSE:HMC) and Li Auto Inc (NASDAQ:LI) are scheduled to report results.

During Wednesday’s regular trade, the Dow Jones Industrial Average fell 40.3 points or 0.1% to 34,112.3, the S&P 500 added 4.4 points or 0.1% to 4,382.8 and the NASDAQ Composite gained 10.6 points or 0.1% to 13,650.4.

On the bond markets, United States 10-Year rates were at 4.492%.



Zepbound Approved as Novo Nordisk’s Weight-Loss Nemesis

In a tale of regulatory nods, Eli Lilly’s Zepbound has earned the green light from both U.S. and UK authorities, ready to tango toe-to-toe with Novo Nordisk’s Wegovy in the fight against the ever-expanding waistlines of the world.

Both contenders strut their stuff as highly effective weight-loss remedies, eyeing a slice of the colossal $100 billion global market pie by the decade’s close.

Novo Nordisk’s potions have performed weight-loss wonders, not only changing the game for purveyors of sweet treats but also influencing healthcare providers wrestling with obesity-related issues like diabetes, sleep apnea, and the crafters of devices for bariatric weight-loss surgeries.

Yet, amidst the accolades, the high price tags attached to these remedies have drawn flak, putting them out of reach for many battling the bulge.

Smart investments are like the sages of the financial world – they grow wiser with time. They’re the Gandalfs of your portfolio, whispering, “You shall not pass on this opportunity!” So, when it comes to smart investments, don’t be a Frodo, clutching your precious savings, be a Gandalf, and let your money embark on an epic journey to financial prosperity.