Consumer prices surged more than expected over the past 12 months, indicating a worsening outlook for inflation and cementing the likelihood of substantial interest rate hikes this year. The consumer ...
Tag: Breaking news
Stock futures rise slightly ahead of key inflation data
U.S. stock futures were slightly higher on Wednesday night ahead of key inflation data due Thursday morning. Dow Jones Industrial Average futures rose 79 points, or 0.2%. S&P 500 futures added 0.0...
Disney, Uber, Mattel and more
General views of the Mickey Mouse Ferris Wheel at Disney California Adventure Park at the Disneyland Resort, which has reopened for outdoor dining and shopping on April 11, 2021 in Anaheim, California...
University of Michigan provost named as next head of the Boston Fed
The Federal Reserve Bank of Boston today announced that Dr. Susan M. Collins will be its next president, CEO. Courtesy: Federal Reserve Bank of Boston. The Boston Federal Reserve, which is heading the...
Fed’s Mester says ‘each meeting is going to be in play’ for rate hikes this year
Cleveland Federal Reserve President Loretta Mester laid out an aggressive plan for reducing easy-money policies this year, saying the central bank will be ready to hike rates at any meeting and should...
CVS, Enphase Energy, Chipotle, Lyft and more
Customers shop at the CVS Pharmacy, on Morrissey Boulevard, in Dorchester, on April 2, 2020. Some pharmacy workers worry about unsafe conditions at their stores. Pat Greenhouse | Boston Globe | Getty ...
Fed’s Bostic says more than 3 hikes possible this year, but needs to see how economy responds
Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta. Christopher Dilts | Bloomberg | Getty Images Atlanta Federal Reserve President Raphael Bostic said Wednesd...
Peloton, Harley-Davidson, Pfizer, Chegg and more
A mechanic works on a motorcycle at a Harley-Davidson showroom and repair shop in Lindon, Utah, U.S., on Monday, April 19, 2021. George Frey | Bloomberg | Getty Images Check out the companies making h...
Consumer debt totals $15.6 trillion after a record-breaking increase in 2021
A customer counts his cash at the register while purchasing an item at a Best Buy store in Flushing, New York. Jessica Rinaldi | Reuters Consumers ended 2021 with record levels of debt, leading into a...
Seven hikes? Fast-rising wages could cause the Fed to raise interest rates even higher this year
Too much of a good thing, in the form of rapidly rising wages, is expected to push Federal Reserve interest rate hikes at an even faster pace. Average hourly earnings jumped 0.7% in January and are no...
Frontier and Spirit to merge creating 5th largest airline in U.S.
Frontier Airlines and Spirit Airlines, the two largest low-cost carriers in the U.S. have agreed to merge, creating what would become the fifth largest airline in the country. The boards of both compa...
Weekly jobless claims total 238,000, fewer than expected
Initial filings for unemployment claims totaled a bit fewer than expected last week as companies looked to overcome the impact of the omicron spread. Claims for the week ended Jan. 29 were 238,000, a ...
Payrolls show surprisingly strong gain of 467,000 despite omicron surge
Job growth rose far more than expected in January despite surging omicron cases that seemingly sent millions of workers to the sidelines, the Labor Department reported Friday. Nonfarm payrolls surged ...
Republicans grill Fed nominee Raskin over past views on climate and big energy companies
Sarah Bloom Raskin, nominated to be vice chairman for supervision and a member of the Federal Reserve Board of Governors, gestures during a Senate Banking, Housing and Urban Affairs Committee confirma...
Companies cut 301,000 as omicron slams labor market
Companies cut jobs in January for the first time in more than a year as the spread of the Covid omicron variant appeared to hit hiring, payroll processing firm ADP reported Wednesday. Private payrolls...
After a huge year for growth, the U.S. economy is about to slam into a wall
Free food is handed out by the Brooklyn community organization PASWO during a weekly food distribution on December 08, 2021 in New York City. Spencer Platt | Getty Images Spurred by a massive inventor...
There were 4.6 million more job openings than unemployed workers in December
A woman walks past a “Now Hiring” sign in front of a store on January 13, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images Job openings totaled nearly 11 million in Decem...
UK investigation into Downing Street Covid lockdown parties finds ‘failures of leadership’
Prime Minister Boris Johnson leaves 10 Downing Street to make a statement at Parliament on January 31, 2022 in London, England. Dan Kitwood | Getty Images News | Getty Images LONDON — The interim find...
Apple, Robinhood, Visa, Chevron and more
Logo on an Apple store is seen in Arlington, Virginia, January 27, 2022. Joshua Roberts | Reuters Check out the companies making headlines in midday trading. Apple — Shares of the tech giant jumped mo...
Key Fed inflation gauge rises 4.9% from a year ago, fastest gain since 1983
A gauge the Federal Reserve prefers to measure inflation rose 4.9% from a year ago, the biggest gain going back to September 1983, the Commerce Department reported Friday. The core personal consumptio...
GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spread
The U.S. economy grew at a much better than expected pace to end 2021 though the acceleration likely tailed off as the omicron spread put a damper on hiring and further hindered the global supply chai...
Stock futures rise as investors assess Fed update
Traders work on the floor of the New York Stock Exchange (NYSE) on January 18, 2022 in New York City. Spencer Platt | Getty Images Stock futures rose on Wednesday night after Federal Reserve chairman ...
Tesla, Netflix, LendingClub and more
The Tesla dealership in Eatonville, Florida is seen on March 1, 2019, the day after Tesla announced that it was closing its retail stores as a cost-cutting measure, in a shift to on-line only sales. P...
Federal Reserve points to interest rate hike coming in March
Facing both turbulent financial markets and raging inflation, the Federal Reserve on Wednesday indicated it could soon raise interest rates for the first time in more than three years. In a move that ...
Microsoft, Mattel, F5, DraftKings, Clorox and more
Barbie dolls for sale at a Target store. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Corning — Shares of the tech and specialty glass company rallied more than 12% in...
London police to investigate alleged Downing Street lockdown parties
Prime Minister Boris Johnson leaves 10 Downing Street on January 19, 2022 in London, England. Dan Kitwood | Getty Images News | Getty Images Metropolitan Police Commissioner Cressida Dick said Tuesday...
Netflix, Kohl’s, Wynn Resorts, General Motors and more
Mario Tama | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Netflix — Shares of the streaming giant fell 2.6% after Jefferies downgraded the stock to hold...
Inflation surge could push the Fed into more than four rate hikes this year, Goldman Sachs says
U.S. Federal Reserve Board Chairman Jerome Powell attends his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022. ...
Fed releases long-awaited study on a digital dollar, but doesn’t take a position yet on creating one
Federal Reserve Board Chairman Jerome Powell speaking at a re-nomination hearing of the Senate Banking, Housing and Urban Affairs Committee, on January 11, 2022, in Washington, DC. Pool / Getty The Fe...