Sun, Nov 3, 2024 6:40 PM
Markets brace for presidential election, Fed meeting
A Flip by Shubhangi Gupta
Manolo Blahnik, the high-end shoe brand with many celebrity fans and often worn in the TV hit "Sex and the City", has opened its first store in mainland China after a 22-year battle over the legal right to use its name. In addition to the new boutique in Shanghai's Plaza 66 luxury mall, the company expects to open a store a year in China for the next five years.
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US yields aren’t far from levels that would lure investors from stocks into bonds, according to the chief investment officer of Amundi SA, Europe’s biggest asset manager. The benchmark yield jumped as high as 4.48% following the Nov. 5 election, before retreating back to around 4.33% after the Federal Reserve cut its main interest rate by a quarter percentage point on Thursday.
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Futures tracking the benchmark S&P 500 were trading above the 6,000-point mark on Friday, with equity markets set for an upbeat end to an action-packed week that saw Donald Trump recapture the U.S. presidency and the Federal Reserve cut rates. Futures for all three major indexes were little changed in early trading after S&P 500 futures passed the milestone for the first time on Thursday.
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