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According to Fox News: U.S. Treasury Secretary Bessant stated that Trump will meet with three candidates for Federal Reserve Chair after Thanksgiving. I can say with certainty that I will not become the Federal Reserve Chair.According to Fox News: U.S. Treasury Secretary Bessant said that President Trump may announce the next Federal Reserve Chairman before Christmas.1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 1.07% to 46,091.74 points, the S&P 500 fell 0.83% to 6,617.32 points, and the Nasdaq Composite fell 1.21% to 22,432.85 points. Home Depot fell 6%, and Amazon fell more than 4%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index fell 1.82%, Nvidia fell nearly 3%, and Microsoft fell more than 2%. Chinese concept stocks were mixed, with Amer Sports rising more than 8% and Daqo New Energy falling more than 6%. Both the Dow and the S&P 500 recorded their fourth consecutive day of decline. 2. All three major European stock indexes closed lower. The German DAX fell 1.85% to 23,153.92 points, the French CAC40 fell 1.86% to 7,967.93 points, and the UK FTSE 100 fell 1.27% to 9,552.3 points. 3. US Treasury yields fell across the board. The 2-year Treasury yield fell 2.93 basis points to 3.572%, the 3-year Treasury yield fell 4.17 basis points to 3.567%, the 5-year Treasury yield fell 4.02 basis points to 3.686%, the 10-year Treasury yield fell 2.52 basis points to 4.113%, and the 30-year Treasury yield fell 0.20 basis points to 4.733%. 4. International precious metals futures generally closed lower. COMEX gold futures fell 0.17% to $4067.40 per ounce, and COMEX silver futures fell 0.34% to $50.54 per ounce. 5. Rosnefts Ryazan refinery suspended crude oil processing since the November 15 drone attack. The WTI crude oil futures contract closed at $60.57 per barrel; the Brent crude oil futures contract rose 0.93% to $64.8 per barrel. 6. London base metals all fell, with LME aluminum down 0.85% to $2,789.50/ton, LME copper down 0.75% to $10,698.00/ton, LME lead down 0.52% to $2,027.00/ton, LME zinc down 0.12% to $2,990.50/ton, LME tin down 0.07% to $36,860.00/ton, and LME nickel down 0.03% to $14,645.00/ton.November 19th - According to CMEs "FedWatch": The probability of the Federal Reserve cutting interest rates by 25 basis points in December is 48.9%, and the probability of keeping rates unchanged is 51.1%. The probability of the Fed cumulatively cutting rates by 25 basis points by January next year is 49.7%, the probability of keeping rates unchanged is 31.9%, and the probability of cumulative rate cuts of 50 basis points is 18.4%.Moodys affirmed Lebanons rating at "C" and maintained a stable outlook.

Regulatory Problems Prevented DuPont From Acquiring Rogers For $5.2 Billion

Haiden Holmes

Nov 02, 2022 14:59

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Chemicals producer DuPont (NYSE:DD) De Nemours Inc stated on Tuesday that it was abandoning its $5.2 billion acquisition of Rogers (NYSE:ROG) Corp due to regulatory delays.


During extended trading, Rogers's stock plunged 43%, while DuPont's rose about 6%.


DuPont's all-cash acquisition of the engineering materials producer, announced a year ago, would have been its largest acquisition since splitting from DowDuPont in 2019, as it intended to service quickly developing industries including electric vehicles, 5G, and renewable energy.


DuPont stated that it would pay Rogers a termination fee of $162,5 million.


The companies announced in September that, with the exception of China, they had obtained all necessary regulatory approvals for the merger.