Check out the companies making headlines before the bell: Bank of America (BAC) – Bank of America shares rallied 3.2% in the premarket after it beat estimates by 6 cents with a quarterly profit of 82 ...
Tag: Economy
Crypto VC Firm Inflection Launches $40M Fund to Build ‘Open Economy’
Limited partner investors in the Mercury Fund include Galaxy Digital, Digital Currency Group (CoinDesk’s parent company), Accolade Partners, Evanston Capital, Isomer, Hutt Capital, Multiple Capital, P...
Mastercard strikes NFT payments deal with Coinbase amid wave of crypto partnerships
A 3D printed Mastercard logo is seen in front of displayed stock graph in this illustration taken September 20, 2021. Dado Ruvic | Reuters Mastercard said Tuesday it inked a deal with Coinbase, the la...
U.S. companies are expecting to pay an average 3.4% raise to workers in 2022
U.S. employers expect to pay an average 3.4% raise to their workers in 2022, according to a Willis Towers Watson survey. That projected wage growth is faster than actual raises paid in the prior two y...
SoFi stock soars after clearing final regulatory hurdle to become bank
Anthony Noto CEO of SoFi at the newly named SoFi Stadium under construction in Los Angeles. Stephen Desaulniers | CNBC Shares of SoFi rallied as more than 16% in after-hours trading on Tuesday followi...
Alibaba, Citrix, 23andMe and others
Check out the companies making headlines before the bell: Alibaba (BABA) – Alibaba fell 3.8% in the premarket after a Reuters report said the Biden administration was reviewing the China-based company...
How Far Can Bonds Fall As Interest Rates Rise Again?
American bonds on stock market perspective dashboard. Stock exchange market chart. getty J.P. Morgan Chase Chief Executive Officer Jamie Dimon says we can expect 6 or 7 interest rate increases this ye...
The Fed is about to see a lot of new faces. What it means for banks, the economy and markets
Sarah Bloom Raskin Andrew Harrer | Bloomberg | Getty Images In what likely will be just a few months’ time, the Federal Reserve will look a lot different: Three new governors, a new vice chairma...
The Fed Will Drive The Economy Into A Ditch If It Is Wrong About Inflation
Shipping containers stacked at the Port of Los Angeles. (Photo by Mario Tama/Getty Images) Getty Images Inflation is hitting very high numbers – CPI, for example, is at its highest level since 1982. B...
How U.S. economic sanctions work
Economic sanctions remain one of the most powerful tools the United States has in its foreign policy arsenal. And as Russian forces continue to amass along the border with Ukraine, officials in the U....
Retail sales December 2021:
Retail sales fell much more than expected in December as surging prices took a big bite out of spending, the Commerce Department reported Friday. The advance monthly sales report to close out the year...
Stocks making the biggest moves premarket: BlackRock, Wells Fargo, Sherwin-Williams
Check out the companies making headlines before the bell: BlackRock (BLK) – BlackRock earned an adjusted $10.42 per share for the fourth quarter, beating the consensus estimate of $10.16, although rev...
Mastercard CEO says spending trends look ‘relatively positive’ in 2022
Consumer spending trends look “relatively positive” so far this year, Mastercard CEO Michael Miebach told CNBC on Thursday, following strong holiday numbers. Miebach’s comments in an...
Stock futures are flat ahead of major bank earnings
U.S. stock index were little changed during overnight trading on Thursday, ahead of earnings from the major banks on Friday. Futures contracts tied to the Dow Jones Industrial Average advanced 29 poin...
Fed’s Harker calls for ‘action on inflation,’ sees 3 or 4 rate hikes
Philadelphia Fed President Patrick Harker said Thursday he foresees three or four interest rate hikes this year as likely to fight inflation. His thinking, outlined in a live interview on CNBC’s...
Ford, Snap, Virgin Galactic and more
Newly manufactured Ford Motor Co. 2021 F-150 pick-up trucks are seen waiting for missing parts in Dearborn, Michigan, March 29, 2021. Rebecca Cook | Reuters Check out the companies making headlines in...
Delta Air Lines, Moderna, Virgin Orbit and others
Check out the companies making headlines before the bell: Delta Air Lines (DAL) – Delta shares rose 2.2% in the premarket after the airline beat top and bottom-line estimates for the fourth quarter. D...
Manhattan rents were the highest ever for December
Apartment buildings on the Upper East Side neighborhood of New York. Victor J. Blue | Bloomberg | Getty Images Manhattan rents hit their highest level ever for a December as the supply of apartments p...
Despite higher wages, inflation gave average worker a 2.4% pay cut last year
A San Francisco grocery store. David Paul Morris/Bloomberg via Getty Images Inflation is taking a big bite out of workers’ paychecks, eroding many of the raises businesses have offered to attrac...
Rapidly rising food prices may give restaurants an edge—here’s why
Erick Williams, chef/owner of Virtue restaurant in Chicago’s Hyde Park, preps a beet salad on Feb. 4, 2021. Jose M. Osorio | Chicago Tribune | Tribune News Service | Getty Images Food prices are...
Inflation rises 7% over the past year, highest since 1982
Inflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday. The consumer price index, a gauge ...
UBS says the Fed is behind the curve in shrinking the balance sheet
The Federal Reserve is behind the curve when it comes to shrinking the balance sheet, according to UBS Global Wealth Management’s Kelvin Tay. Fed Chairman Jerome Powell said Tuesday that he exp...
Travel is ‘roaring back’ — That’s good and bad for travelers
Last year wasn’t a stellar year for travelers. Perhaps that’s why so many are pinning their hopes on 2022. Travel bookings and inquiries are surging, say travel insiders, in an upward tra...
Unlocking the $12.6-Trillion machine economy on Web3
Web3 is poised to disrupt the internet. It already has in many ways. It’s paving the way to a multi-trillion-dollar decentralized machine economy at the forefront of which IoTeX stands. This, accordin...
Fed Vice Chair Clarida to step down early following scrutiny over his trades during pandemic
Federal Reserve Vice Chairman Richard Clarida said Monday he will be leaving his post with just a few weeks left on his term and amid revelations regarding his trading of stock funds. In an announceme...
Fed Chair Powell says rate hikes, tighter policy will be needed to control inflation
U.S. Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, ...
General Electric, Rivian, Illumina and more
Offices of Illumina, in San Diego, California. Mike Blake | Reuters Check out the companies making headlines in midday trading. Illumina – Illumina shares surged 12.7% a day after the biotechnology co...
Watch Fed Chair Jerome Powell testify live at his Senate confirmation hearing
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell testifies Tuesday before the Senate Banking...
Powell Says Fed to Ensure Inflation Doesn’t Take Root in Economy
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg Federal Reserve Chair Jerome Powell said the central bank ...