Chancellor Rachel Reeves announced a change in fiscal rules in her Autumn Budget speech, raising taxes by £40bn and committing to investing in the UK economy for long-term growth. Despite initial market calm, concerns arose over the need for increased borrowing of £32bn annually to fund the £70bn spending increase, leading to a rise in gilt yields and a slight dip in UK equities. The Bank of England’s potential response to the larger-than-expected fiscal event is being closely monitored by investors, impacting rate-sensitive sectors while benefiting banks.
Full Article
Why Reddit Stock Was Moving Higher This Week
Shares of Reddit (NYSE: RDDT) saw a significant increase of 19.4% this week, driven by the launch of two new AI-powered advertising tools and favorable analyst reviews. The stock's positive momentum was reported by S&P Global Market Intelligence as of Wednesday's close. Explain It To Me Like I'm 5: Reddit, a website where people share things, got a lot more popular this week because they made new tools that help businesses advertise better, and people...
Read more