Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and has the ability to make that happen. “At the Fed, we...
Tag: Breaking news
Exxon Mobil, Alphabet, Kellogg, Charles Schwab and more
Gas pumps sit empty at an Exxon gas station in Charlotte, North Carolina on May 12, 2021. LOGAN CYRUS | AFP | Getty Images Check out the companies making headlines in midday trading Tuesday. Exxon Mob...
Fed promises ‘unconditional’ approach to taking down inflation in report to Congress
U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflat...
Powell vows that the Fed is ‘acutely focused’ on bringing down inflation
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflati...
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressi...
Unexpected 0.3% decline, hammered by inflation
Retail sales turned negative in May as consumers pulled back spending while inflation surged, the Commerce Department reported Wednesday. Advance retail and food service spending fell 0.3% for the mon...
Fed likely to hike rates by three-quarters of a point this week
Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating the possibility as well. Central bank policymakers are entert...
Wholesale prices rose 10.8% in May, near a record annual pace
Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of Labor Statistics reported Tuesday. The producer price index, a measure of the prices paid...
Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images The Federal Reserve on Wednesday is expected to do somethin...
Inflation expectations hit record levels in May, New York Fed says
People shop in a supermarket as inflation affected consumer prices in Manhattan, New York City, U.S., June 10, 2022. Andrew Kelly | Reuters Consumer expectations for inflation and spending in the year...
Coinbase lays off 18% as execs prepare for recession, ‘crypto winter’
Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. Steven Ferdman | Getty Images Coinbase is laying off almost a fifth of its workf...
Brokers look to replace payment for order flow amid SEC crackdown
The brokerage industry is exploring alternatives to payment for order flow as SEC chair Gary Gensler takes aim at the practice. One idea is coming from Apex Clearing, CNBC has learned. The clearing fi...
Stock futures are lower after Wall Street snaps two-day win streak
Stock futures were lower in early morning trading Thursday after the major averages ended the Wednesday regular session lower and U.S. Treasury yields rose. Futures on the Dow Jones Industrial Average...
Target, Kohl’s, Peloton and more
FILE PHOTO: Shoppers exit a Target store during Black Friday sales in Brooklyn, New York, U.S., November 26, 2021. Brendan Mcdermid | Reuters Check out the companies making headlines in midday tradin...
Stock futures are little changed on Monday
Traders on the floor of the NYSE, June 3, 2022. Source: NYSE Stock futures were little changed Monday evening after a sleepy day of trading as investors await key inflation data due out later in the w...
Sunrun, Eli Lilly, DiDi Global, CrowdStrike and more
Tim McKibben, left, a senior installer for the solar company, Sunrun, and installer Aaron Newsom install solar panels on the roof of a home in Granada Hills. Mel Melcon | Los Angeles Times | Getty Ima...
Fed’s Mester says half-point rate hikes are needed to fight inflation
Cleveland Federal Reserve President Loretta Mester said Friday that she doesn’t see ample evidence that inflation has peaked and thus is on board with supporting a series of aggressive interest ...
Stock futures are slightly higher ahead of May’s jobs report
Trader on the floor of the NYSE, June 1, 2022. Source: NYSE Stock futures rose Thursday evening as investors focus their attention on more jobs data due out Friday morning. Futures tied to the Dow Jon...
Lululemon, RH, Okta and more
People line up to enter a store during Black Friday shopping at Fashion Outlets of Chicago in Rosemont of Greater Chicago Area, Illinois, the United States, on Nov. 26, 2021. Joel Lerner | Xinhua News...
Fed Vice Chair Lael Brainard says it’s ‘very hard to see the case’ for the Fed pausing rate hikes
Federal Reserve Vice Chair Lael Brainard said Thursday that it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon. Though she stressed that Fed po...
Stock futures are little changed as investors dwell on health of the economy
U.S. stock futures were flat Wednesday night as economic concerns dragged down investor sentiment. Futures tied to the Dow Jones Industrial Average edged lower by 13 points, or 0.04%. S&P 500 futu...
Stocks making the biggest moves after hours: Chewy, GameStop and more
A dog sits in front of the New York Stock Exchange (NYSE) during Chewy Inc.’s initial public offering (IPO) in New York, U.S., on Friday, June 14, 2019. Michael Nagle | Bloomberg | Getty Images ...
Salesforce, Delta, Albemarle and more
Pedestrians pass in front of the Salesforce Tower in New York. Victor J. Blue | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Salesforce — Shares of the enterpri...
The Fed’s Mary Daly says rate hikes should continue until inflation is tamed
San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level. Those moves likely would entail multipl...
Fed Governor Christopher Waller says he’s prepared to take rates past ‘neutral’ to fight inflation
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Fe...
Twitter, Macy’s, Nvidia, Lululemon and more
A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets shopping mall on November 17, 2019 in Central Valley, New York. Gary Hershorn | Corbis News | Getty Images Check ...
Fed minutes: May 2022 – Monetary policy may move into restrictive territory
Federal Reserve officials earlier this month stressed the need to raise interest rates quickly and possibly more than markets anticipate to tackle a burgeoning inflation problem, minutes from their me...
Andreessen Horowitz raises $4.5 billion crypto fund in down market
Chris Dixon, General Partner at Andreessen Horowitz, discusses cryptocurrency during the TechCrunch Disrupt forum in San Francisco, October 2, 2019. Kate Munsch | Reuters Andreessen Horowitz plans to ...
Stock futures fall after Dow’s 600 point comeback
Stock futures fell in overnight trading on Monday as the markets struggled to sustain a comeback rally following weeks of losses. Futures on the Dow Jones Industrial Average fell 110 points, or 0.34%....
Crypto exchange FTX quietly shops for brokerage start-ups amid move into stock trading, sources say
Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images FTX has been on the hunt to buy...