Fed signals possible rate cuts this year amid inflation data
Federal Reserve officials, led by Chair Jerome Powell, indicated rate cuts could begin later in the year despite January and February inflation upticks. Powell urged independence from politics and warned against acting too soon, with decisions anticipated around May to November including July or later first cuts.
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Wall Street ends day mixed as major indices drift
Wall Street closed mixed with the S&P 500 up 0.1 percent to 5,211.49 while the Dow slipped 0.1 percent to 39,127.14 and the Nasdaq rose 0.2 percent to 16,277.46. GE Aerospace led gains after a spin off, Cal-Maine Foods rose on egg sales, Intel fell 8.2 percent on disclosed losses, and Disney dropped on CEO investor-board concerns.
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Prosecutors Rebuke Judge Over Presidential Records Act Claim
Federal prosecutors push back at Judge Aileen Cannon's plan to craft jury instructions referencing the Presidential Records Act in Trump's classified documents case. They argue the act is inapplicable to sensitive Mar-a-Lago files and warn of potential appeals if instructions rely on that premise. The case, with unsettled trial timing, faces ongoing disputes over motions to dismiss and legal standards.
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Disney shareholders back CEO Iger after proxy fight
Shareholders voted to rebuff Nelson Peltz and Jay Rasulo, backing Walt Disney Co. chief executive officer Robert Iger. Disney recommended a slate of directors. Peltz’s campaign urged a CEO transition and higher performance linked pay, while Disney highlighted steady EBITDA margins near 18 percent.
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