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The Trump policy changes that Miran cites as justification for lower rates don't necessarily deliver as promised, or have side effects.
After yesterday's buoyant romp, the market remembered gravity, with the Nasdaq shedding a full point. Equal-weight S&P, though, beat its cap-weighted cousin.
Saudi Arabia is set to allow foreigners to own a majority stake in local companies in a push to revive its underperforming equity market. The Capital Market Authority is close to easing rules that cap foreign ownership of listed companies at 49%.
Shares in European arms makers moved higher on Wednesday after U.S. President Donald Trump, in a rhetorical shift, said on he believed Ukraine could retake all its land occupied by Russia.
Denmark's central bank on Wednesday cut its GDP forecasts for 2025-2027, citing a negative impact from U.S. trade tariffs and weaker growth in the pharmaceuticals industry, where weight-loss drug maker Novo Nordisk has seen rising competition.

UK's Beauty Tech said on Wednesday its parent Project Glow Topco's initial public offering price has been set at 251 pence to 291 pence per share.

European shares are poised to open lower on Wednesday.

Inflation pressures are once again building in Australia, with a monthly reading hitting its highest level in just over a year in August.
Stocks slid on Wednesday, echoing losses on Wall Street overnight, while the dollar rose broadly, after Federal Reserve Chair Jerome Powell fell short of confirming investors' expectations that U.S. interest rates will decline sharply in coming months.

Dealmaking is picking up, and big firms are hunting for more bankers and senior hires.
Panelists Marc Sumerlin and Douglas Holtz-Eakin weigh in on Federal Reserve Gov. Stephen Miran's speech and rate cuts on 'Kudlow.
U.S. business activity continued growing in September, though the rate of growth slowed for the second consecutive month, S&P Global said Tuesday (Sept. 23). The company's Flash U.S. Composite PMI Output Index slipped from 54.6 in August to 53.

The bull market in U.S. stocks might not see much more than a pause for the rest of this year, despite the S&P 500's lofty valuation, according to Morgan Stanley's Andrew Slimmon.

The stock market is near all-time highs, driven by an AI investment boom, but faces risks as this growth engine slows. A two-speed economy has emerged: Tech and AI sectors surge, while broader lending and consumer demand stagnate under high interest rates.

Sellers came into the stock market Tuesday, spooked a bit by comments from Fed Chair Powell who reiterated the Fed's policy quandary.

Federal Reserve Chair Jerome Powell took the steam out of the market's rally.

Major U.S. benchmarks slipped from record levels.

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Matt Miller, Carol Massar and Tim Stenovec.

Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach.

Ohsung Kwon, Wells Fargo, joins 'Closing Bell Overtime' to discuss the health of the profit cycle, his forecast for 11% EPS growth in 2025 and 2026 followed by 12% in 2027, expectations for 9% annualized equity market returns, the improving macro backdrop, why he believes the AI-led bull market is not a bubble, and more.