Fed’s Daly says more rate hikes needed, dismisses ‘pivot’ talk
[ad_1] The Federal Reserve needs to keep raising its benchmark interest rate in order to cool inflation that hit a 40-year high earlier this year and has shown little signs…
Icahn, other big-name investors clean up on Elon Musk’s Twitter reversal
[ad_1] Elon Musk’s decision to end his war with Twitter Inc. isn’t just a big win for the social-media company, but also for some big-name investors like Carl Icahn. Icahn quietly amassed a Twitter TWTR, +22.24%…
Celsius co-founder Daniel Leon resigns
[ad_1] S. Daniel Leon, co-founder and chief strategy officer of Celsius, has left the firm just a week after chief executive Alex Mashinsky declared his departure. “We confirm that Daniel…
Fed’s Daly says ‘churn’ in labor market might be settling
[ad_1] There are signs that the U.S. labor market is starting to cool off a bit, San Francisco Federal Reserve President Mary Daly said Tuesday. “I think…some of the churn…
If Fed gives up fight, ‘you’re going to see bitcoin and other assets take right back off,’ says Michael Novogratz
[ad_1] “ ‘If he gives up this fight, you’re going to see bitcoin and other assets take right back off.’” — Michael Novogratz, CEO of digital asset and blockchain lender…
Pound climbs, U.K bond yields fall again on expectations U.K.’s Kwarteng will speed up debt-cutting plans
[ad_1] The British pound rose and gilt yields fell a second day after reports that U.K. Chancellor Kwasi Kwarteng will publish debt-reducing plans early, a day after a U-turn over…
Facebook parent is no longer one of 10 most valuable U.S. companies. Here’s what just overtook it.
[ad_1] Meta Platforms Inc. is furthering its descent through the ranks of the biggest companies in the U.S., this time falling below Exxon Mobil Co. for the first time in…
Futures exchange CME considers brokerage, taking cue from crypto rival FTX
[ad_1] CME Group Inc. criticized crypto exchange FTX’s plan to cut out the middlemen in the futures markets. Now, the Chicago exchange giant is taking a step in the same direction. In…
Inflation is forcing people to use up their savings in a bad sign for the economy
[ad_1] Turns out Americans aren’t sitting on a big pile of savings to help them endure high inflation or another recession. The U.S. savings rate fell to a 14-year low…
Carnival stock falls to a 30-year low as losses and revenue misses keep piling up
[ad_1] Shares of Carnival Corp. sank to a fresh post-pandemic low Friday after the cruise operator reported yet another wider-than-expected loss and sales miss, even as capacity usage improved to…
Fed’s Barkin expects inflation to come down a bit in coming months
[ad_1] All signs point to lower U.S. inflation in coming months, Richmond Fed President Thomas Barkin said Friday. “Inflation should come down a bit. I don’t expect it to be…
Dow futures rise 200 points as another rough quarter concludes
[ad_1] U.S. stock futures on Friday were pointing to a positive end to another difficult quarter, with key inflation data and Fed speeches set to come. What’s happening Futures on…
Fed must try to avoid a ‘harsh recession,’ Daly says
[ad_1] The Federal Reserve does not need to induce a deep recession in order to bring down high inflation, San Francisco Fed President Mary Daly said Thursday. “Inducing a deep…
Microsoft, Google parent Alphabet, and nearly a fifth of S&P 500 hits 52-week lows
[ad_1] Nearly a fifth of the S&P 500 index sank to new 52-week lows Thursday led by some of the biggest names in the tech sector. By early afternoon trading…
Why bitcoin and ether are outperforming stocks, despite dollar’s rally
[ad_1] Bitcoin and ether have outperformed major stock indexes so far this week, despite the dollar’s continued rally as Treasury yields have climbed. Bitcoin BTCUSD, -0.49% lost about 1.4% on…
Financial contagion from U.K.’s woes? Biden economic adviser says U.S. ‘in a strong place to deal with a full set of headwinds’ including from abroad
[ad_1] “‘The U.S. economy remains in a strong place to deal with a full set of headwinds, including those coming from abroad.’” — Jared Bernstein, member of President Joe Biden’s…
Citadel’s Ken Griffin says inflation may have already peaked, though recession risk still looms
[ad_1] Ken Griffin, the billionaire founder and chief executive of the hedge fund Citadel, thinks the U.S. may have already hit peak inflation, though a recession is still possible. Speaking…
Bond-market volatility touches one of highest levels since 2007-2009 financial crisis and recession
[ad_1] Volatility in the ordinarily sedate world of bonds climbed this week to one of the highest levels since the 2007-2009 financial crisis and recession. The ICE BofA MOVE Index,…
Gas futures in Europe continue to climb as Gazprom warns Ukrainian gas route could be cut off
[ad_1] European and UK benchmark natural gas prices jumped after Kremlin-run Gazprom warned that the remaining gas route to Europe, via Ukraine, is now at risk of being shut off.…
IMF scolds U.K. on fiscal plan that has upset financial markets
[ad_1] The International Monetary Fund on Tuesday afternoon weighed in on the massive tax-cut package and other measures at the heart of a U.K. government fiscal plan that sank the…
Bank of America clients are buying the dip in U.S. stocks, shifting from cyclicals to defensive
[ad_1] In light of the recent U.S. stock market losses, Bank of America (BofA) saw more buying of equities among its clients during last week’s selloff, and there was a…
Las Vegas Sands and Wynn Resorts shares lead S&P 500 winners after Macau’s surprise new COVID-19 recovery plan
[ad_1] Shares of casino operators got a big boost Monday after Macau officials announced that an easing of pandemic-era travel restrictions would begin in the coming weeks. News surfaced over…
Global bonds are in first bear market in 76 years based on two centuries of data, says Deutsche Bank
[ad_1] It’s been a terrible year for financial markets and perhaps even more so when you weigh 2022 against more than two centuries of data. Global bonds are now in…
U.S. stock futures dip, dollar rises as Italian election results add to uncertainty
[ad_1] U.S. stock-index futures fell late Sunday, suggesting losses Monday, as the projected victory of a far-right party in Italy added to uncertainties about rising interest rates and recession fears.…
‘The housing market may have to go through a correction’: Mortgage rates hit 6.29%, Freddie Mac says
[ad_1] The numbers: U.S. mortgage rates continue to climb, adding hundreds of dollars in costs to potential homeowners. The increase in mortgage rates followed the Federal Reserve hiking interest rates…