Wall Street is bracing for tomorrow's Fed Decision, where the central bank is widely expected to cut interest rates. Jerome Powell and company kick off their meeting this morning. The meeting comes amid the release of more key economic data, including August retail sales out this morning. On the Tech front, both Microsoft shares are higher. Microsoft is rising after the company raised its dividend, while Intel is jumping after it announced plans to make its foundry business a subsidiary.
Instagram is introducing separate teen accounts for those under 18 as it tries to make the platform safer for children amid a growing backlash against how social media affects young people's lives.Broyhill Asset Management, an investment management company, released a second-quarter 2024, investor letter. A copy of the letter can be downloaded here. Despite gains in global markets, the Broyhill Equity portfolio declined in the second quarter.
Spain's central bank on Tuesday raised this year's economic growth forecast to 2.8% from 2.3%, predicting an acceleration from 2023, largely thanks to booming tourism. It was the second straight outlook upgrade by the Bank of Spain this year following its initial forecast of a 1.9% expansion. The European Central Bank on Thursday lowered its 2024 economic growth projection for that region to 0.8% from 0.9%.
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