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Investors Step In to Buy the Dip Following Wall Street’s CPI-Induced Decline: Market Analysis

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In a recent market update, there has been a rebound in Treasuries, led by shorter maturities, and followed a selloff triggered by a reset in Federal Reserve rate-cut bets. The premium traders are paying to hedge a sustained rise in long-end yields has hit the most expensive level since October. Equities also gained in a choppy session.

Jeremy Straub at Coastal Wealth remarked, “Investors should expect continued volatility as the market sorts out the continued uncertainty over how the Federal Reserve will respond to the ongoing inflation situation.” Fed Bank of Chicago President Austan Goolsbee said slightly higher inflation data for a few months would still be consistent with a path back to the central bank’s 2% goal. Traders are now only fully pricing in three Fed rate cuts for this year, with around a 70% chance of a fourth reduction, in line with the US central bank’s forecast for three easing moves.

The S&P 500 hovered near 4,980, with Nvidia Corp. briefly overtaking Google’s parent Alphabet Inc.’s market capitalization, while Apple Inc. extended losses into a third day. Uber Technologies Inc. surged on plans to buy back shares, and Bristol Myers Squibb Co.’s bond sale was said to exceed $85 billion in demand. Two-year US yields fell 10 basis points to 4.56%, and Bitcoin topped $51,000.

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Matt Maley at Miller Tabak Co. mentioned that the stock-market bounce is giving investors relief from Tuesday’s “scare.” He also noted that Treasury yields remain at or very near their recent highs.

The global debt index has dropped 3.5% this year, wiping out all of its gains since December 12, with slower-than-forecast UK inflation numbers for January offering some relief to Treasuries on Wednesday, lowering the US 10-year yield after Tuesday’s 14-basis-point surge.

Chris Senyek at Wolfe Research remarked, “For the overall market to experience an official correction, we believe investors will need to see additional evidence that the Fed won’t cut in line with expectations and/or the growth outlook is decelerating fast enough to spark recession fears.”

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Solita Marcelli at UBS Global Wealth Management stated, “The ‘hot’ inflation data do not change our base case for a soft landing of slower growth, falling inflation, and 100bps of Fed rate cuts this year, likely starting in the second quarter.”

The reversal in bond yields on Wednesday also favored a rebound in big tech, the group that has powered the stock-market resurgence. From a technical perspective, Dan Wantrobski at Janney Montgomery Scott said there will possibly be further “choppy back-and-forth action” this week as more Fed officials are expected to chime in on inflation data ahead of the producer price index on Friday.

The S&P 500’s pivot point from Tuesday’s session is at a close watch level of 4,920, as a break below this threshold could trigger more selling pressures ahead. Corporate highlights and key events for the week are also being closely monitored.

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This story has been produced with the assistance of Bloomberg Automation. The information has been stated as of 15th February 2024 at 03:30 AM IST. More stories are available on Bloomberg’s website.

Passionate news enthusiast with a flair for words. Our Editorial Team author brings you the latest updates, in-depth analysis, and engaging stories. Stay informed with their well-researched articles.

Net Worth

Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

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Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

Who is Stephen M. Ross?

Stephen M. Ross, the Chairperson of The Related Companies, is a distinguished figure in the real estate sector, renowned for his significant contributions and profound impact. Born on May 10th, 1940, in Detroit, Michigan, Ross embarked on his journey into real estate at a young age, demonstrating remarkable diligence and entrepreneurial spirit. Despite initially pursuing a career as a tax attorney, Ross soon discovered his genuine passion for real estate investment, laying the foundation for his illustrious career.

Stephen M. Ross Career

Ross’s career trajectory is marked by pioneering ventures and transformative projects. In 1972, he founded The Related Companies, which initially focused on subsidized low and moderate-income apartments. Over the years, Ross transitioned to higher-profile projects, including the iconic Hudson Yards development, valued at over $7 billion. His visionary approach and strategic partnerships have cemented his reputation as a prominent figure within the real estate industry.

Stephen M. Ross Net Worth

As of 2024, according to Celebrity Net Worth, Stephen M. Ross’s net worth stands at an impressive $10 billion, solidifying his status as one of the wealthiest individuals globally. Ross’s wealth accumulation is attributed to his unparalleled success as a real estate mogul, with an estimated annual income of nearly $700 million derived from royalties on his diverse property holdings. His continued involvement in the real estate sector, with ongoing projects in New Jersey and Florida, further contributes to his substantial net worth.

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Stephen M. Ross Age

Currently, Stephen M. Ross is 83 years old, born on May 10th, 1940. Despite his age, Ross remains actively engaged in his professional pursuits, demonstrating resilience and dedication to his craft.

Stephen M. Ross Family: Wife and Children

Ross’s personal life is characterized by familial bonds and enduring relationships. He is happily married to Kara Ross and is the proud father of four children. Ross’s commitment to family values underscores his holistic approach to life and business.

Stephen M. Ross Height and Weight

Physically, Stephen M. Ross stands at a height of 6 feet 2 inches (1.88m) and maintains a healthy body weight of around 72 kg. Despite his busy schedule, Ross prioritizes his health and well-being, engaging in activities such as volleyball and tennis.

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Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

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Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

Who is Mike Markkula?

Mike Markkula, born Armas Clifford “Mike” Markkula Jr. on February 11, 1942, in Los Angeles, California, is an American entrepreneur renowned for his pivotal role in the early days of Apple Inc. After graduating from the University of Southern California with degrees in electrical engineering, Markkula amassed considerable wealth through stock options while working at Fairchild Semiconductor and Intel.

Mike Markkula Career

Markkula’s career trajectory took a significant turn in 1977 when he was introduced to Steve Jobs by Venture Capitalist Don Valentine. Recognizing the immense potential of the Apple II computer, Markkula became the company’s first major angel investor, providing $250,000 in funding. He subsequently served as Apple’s CEO from 1981 to 1983, overseeing critical phases in the company’s growth and development.

Mike Markkula’s Net Worth

As of 2024, according to Celebrity Net Worth, Mike Markkula boasts an estimated net worth of $1.2 billion. His wealth stems from astute investments, particularly in Apple Inc., where he played a foundational role as an early investor and executive.

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Mike Markkula Age

Born on February 11, 1942, Mike Markkula is currently [age] years old.

Mike Markkula Family: Wife and Children

Markkula is married to Linda, and together they have made significant real estate investments, including properties in Carmel Valley, Woodside, and Hawaii. They have engaged in philanthropy, with notable donations to Santa Clara University’s Markkula Center for Applied Ethics.

Mike Markkula Height and Weight

Unfortunately, information regarding Mike Markkula’s height and weight is not readily available.

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Sundar Pichai Net Worth 2024: How Much is the CEO of Google Worth?

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Sundar Pichai Net Worth 2024: How Much is the CEO of Google Worth?

Who is Sundar Pichai?

Sundar Pichai, born on June 10, 1972, in Madurai, India, is a prominent figure in the tech industry, renowned as the CEO of Alphabet Inc. and its subsidiary Google LLC. With an educational background in materials science and engineering, Sundar’s journey from humble beginnings in Chennai to the helm of one of the world’s leading multinational companies is an inspiration to many.

Sundar Pichai Career

Sundar’s career trajectory is marked by notable achievements and leadership roles. Beginning as a materials engineer, he gained experience in product management at Applied Materials and management consulting at McKinsey & Company. In 2004, Sundar joined Google, where his strategic insights and innovative contributions led to significant advancements, including the development of Google Chrome, Android, and Google Drive. His ascent within the company culminated in his appointment as CEO in 2015, overseeing Google’s transition into Alphabet Inc.

Sundar Pichai’s Net Worth

As of 2024, Sundar Pichai’s net worth is estimated to exceed $1.66 Billion, primarily attributed to his role as CEO of Alphabet Inc. and his ownership of approximately 520,668 shares of Alphabet Inc. stock. His remarkable leadership and strategic vision have propelled Google’s growth and innovation, contributing to his substantial financial success.

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Sundar Pichai Age

As of 2023, Sundar Pichai is 50 years old, having been born on June 10, 1972.

Sundar Pichai Family: Wife and Children

Sundar Pichai is married to Anjali Pichai, whom he met during his college years at the Indian Institute of Technology (IIT), Kharagpur. They share a deep bond, enduring a period of long distance before marrying and relocating to the United States. Together, they have two children, Kavya and Kiran, and prioritize maintaining a balanced family life despite Sundar’s demanding career.

Sundar Pichai Height and Weight

Sundar Pichai stands at a height of 5 feet 8 inches and weighs approximately 68 kilograms.

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