Fed Decision Looms, Nasdaq Stumbles, Government Shutdown Nears, Nissan and Honda Explore Merger

A major Fed decision is anticipated on Wednesday. The Nasdaq has experienced its longest losing streak since 1978, spanning nine consecutive days. This decline stands out against the backdrop of a generally strong broader market. Despite Tuesday's losses, both the S&P 500 and the Dow Jones Industrial Average have shown gains for the month, with the Dow experiencing a decrease of over 3%. CNBC reports that U.S.

Federal Reserve Chair Jerome Powell is set to speak following a two-day meeting of the Federal Open Market Committee. Wall Street anticipates another quarter-point interest rate reduction. Futures market traders predict the central bank will lower its benchmark borrowing rate to a range of 4.25% to 4.5%.While a rate cut is widely expected, it is not universally welcomed. A recent survey found that 93% of respondents anticipate a cut, but only 63% believe it would be the right course of action.Congress is facing an imminent government shutdown as funding expires on Friday, coinciding with legislative adjournment for the holidays. Congressional leaders are working on a stopgap measure. If approved, this bill would simply postpone the budget deadline to a point weeks into President-elect Donald Trump's term.In the automotive industry, Nissan and Honda are preparing for negotiations that could lead to a merger under a holding company. This combined operation (including Nissan-backed Mitsubishi, eventually) would generate an estimated 8 million vehicles in annual sales, according to Nikkei, which first reported the merger talks. This sales volume would position the joint venture alongside some of the world's largest automakers, although still trailing Toyota Motor and Volkswagen

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Fed Rate Cut Expected, Honda-Nissan Merger Rumors Stir MarketsInvestors anticipate the Federal Reserve's third consecutive rate cut, focusing on economic projections and Chair Jerome Powell's comments for insights into future rate actions. Meanwhile, rumors of a possible merger between Honda and Nissan are adding volatility to the market. The Dow Jones Industrial Average continued its decline, and oil prices fluctuated as traders await the Fed's decision and consider the impact of new sanctions on Russia's energy exports.
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Renault shares rise 5% after reports of Nissan-Honda merger talks; European stocks mixedEuropean stocks were mixed Wednesday as investors awaited the latest monetary policy decision by the U.S. Federal Reserve.
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Honda-Nissan Merger Could Create $54 Billion Automotive GiantA potential merger between Honda and Nissan would create a company valued at $54 billion, producing 7.4 million vehicles annually and becoming the third-largest automotive group globally. This follows a strategic collaboration in March to advance electric vehicle development, amidst Nissan's financial and strategic challenges. While Honda shares fell, Nissan and Mitsubishi saw significant increases.
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Nissan and Honda Denying Merger Reports, Exploring CollaborationDespite rumors and a surge in Nissan's share price, both companies state that no merger decision has been made. They are, however, open to discussing future collaboration possibilities.
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Nissan and Honda Deny Merger Rumors Despite Share FluctuationsNissan and Honda confirm discussions about closer collaboration but deny merger reports. While Nissan's share price surged after merger rumors, Honda's dipped. The news follows their August announcement to share EV components and jointly research autonomous driving software.
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