The Latest Breaking News from US Federal Reserve

June S&P 500 futures (ESM23) are trending down -0.14% this morning as market participants digested soft Chinese economic data while awaiting an update on plans to raise the federal debt limit as well as crucial retail sales data.

NEW YORK: The US bank Wells Fargo has agreed to pay $1 billion to settle a class action lawsuit by shareholders who accused it of not having changed its management and practices quickly enough after a series of scandals.

Jim Grant has been writing the “Interest Rate Observer” every week since 1983—and routinely making prescient predictions.

"Big Food's staggering increase in earnings shows they did not need to raise prices so high on consumers . . . "

Atlanta Fed President Raphael Bostic thinks high consumer spending and strong labor market could continue to push prices higher.

The globe has, so far, been able to weather higher interest rates without the devastating consequences some anticipated.

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.03%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.05%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.05%. U.S. stocks this morning gave up an early advance...

Insurers are among the major beneficiaries of a rising interest rate environment. With the Fed unlikely to cut rates anytime soon, the insurance industry will likely benefit. Hence, it could be wise to buy fundamentally strong insurance stocks, Everest Re Group (RE), Reinsurance Group of America (RGA), and International General…

June S&P 500 futures (ESM23) are up +0.39%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.32% this morning as market participants awaited an update on plans to raise the U.S. debt ceiling while bracing for a key speech from Fed Chair Jerome Powell.