Fedspeak, TSM's new high, HSBC disposal - what's moving markets
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Federal Reserve speakers continue to voice their opinions over potential interest rate cuts ahead of the release of key inflation data. Taiwan Semiconductor Manufacturing has hit a new high, while HSBC is set to suffer a big pretax loss as it sells its Argentina unit. Fed funds futures contracts for December reflect expectations of around 60 basis points in rate cuts this year. TSMC shares surged to a record high after receiving a $6.6 billion subsidy for an advanced semiconductor plant. HSBC is selling its Argentina business for $550 million, resulting in a $1 billion pretax loss. Oil prices edged higher on raised uncertainty over a possible ceasefire in the Israel-Hamas conflict.



https://www.investing.com/news/economy/fedspeak-tsms-new-high-hsbc-disposal--whats-moving-markets-3370653