British Prime Minister Liz Truss attends a news conference in London, Britain, October 14, 2022. Daniel Leal | Reuters LONDON — A major reshuffle and the scrapping of a key tax-cutting pledge by U.K. Prime Minister Liz Truss on Friday wasn’t enough to placate markets with the pound and government […]
Finance
Geber86 | E+ | Getty Images As the U.S. economy attempts to find its footing as it emerges from the Covid-19 pandemic, two looming uncertainties have emerged: persistent high inflation and a possible recession. So it’s no surprise that financial advisors who landed on the CNBC FA 100 list for […]
Stocks slumped Friday, capping off a volatile week of trading, a day after posting a historic turnaround rally as investors digested inflation expectations. The Dow Jones Industrial Average fell 403.89 points, or 1.34%, to end the day at 29,634.83. Still, the index was up 1.15% on the week. The S&P […]
Home Depot co-founder and billionaire businessman Bernie Marcus isn’t sure he would be able to create the home improvement chain today if he tried given onerous regulations on small businesses and a challenging economic backdrop. “I don’t think so,” Marcus — a well-known proponent of free market capitalism and small […]
LONDON, ENGLAND – OCTOBER 14: Britain’s Prime Minister Liz Truss attends a press conference in the Downing Street Briefing Room on October 14, 2022 in London, England. After just five weeks in the job, Prime Minister Liz Truss has sacked Chancellor of The Exchequer Kwasi Kwarteng after he delivered a […]
This week, Major League Baseball (MLB) became the first of the four major U.S. sports leagues to sign a CBD sponsor. The league is teaming up with Colorado CBD company Charlotte’s Web for a multi-year deal that includes a line of MLB-branded products. According to MLB, the deal will provide […]
This post was originally published on TKer.co Stocks ended another volatile week lower with the S&P 500 declining 1.6%. The index set a closing low of 3,577.03 on Wednesday and an intraday low of 3,491.58 on Thursday. From its January 3 closing high of 4,796.56, the S&P is now down […]
Pro Picks: Watch all of Monday’s big stock calls on CNBC Stocks closed lower on Monday with the Nasdaq Composite index falling to the lowest level in two years as tech shares continue to be the hardest hit in this bear market because of spiking interest rates. The Nasdaq Composite […]
If there needs to be a U.S. recession to bring down inflation to appropriate levels, the Fed would be cool with that, says one Wall Street pro. “Unfortunately, yes [the Fed would be OK with a recession]. I’m going to say yes,” BMO senior economist Jennifer Lee said on Yahoo […]
The Bank’s Financial Stability Committee on Sep. 28 announced a two-week emergency purchase program for long-dated U.K. government bonds. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Monday announced further measures to ensure financial stability in the U.K., building on its intervention in the long-dated […]
Former Federal Reserve chairman Ben Bernanke speaks after he was named among three U.S. economists awarded the 2022 Nobel Economics Prize, during a news conference at the Brookings Institution in Washington, October 10, 2022. Ken Cedeno | Reuters U.S.-based economists Ben Bernanke, Douglas Diamond and Philip Dybvig were awarded the […]
U.S. stocks extended a downtrend on Monday to start the week lower as Wall Street steered into third-quarter earnings season and braced for a batch of inflation reports. The technology-heavy Nasdaq Composite (^IXIC) led declines, dropping 1% to a two-year low as a set of fresh restrictions by the Biden […]
George S. Farra (far left), co-founder and principal of Woodley Farra, and the team at Indianapolis-based financial advisory firm, which comes in at No. 1 on the CNBC FA 100 list for 2022. Portfolio manager George S. Farra is good at remembering his mistakes. More than a decade ago, he […]
Stocks surged Tuesday as Wall Street built on a sharp rally seen in the previous session and bond yields continued to fall. The Dow Jones Industrial Average rose 825.43 points, or 2.8%, to 30,316.32. The S&P 500 added nearly 3.1% to close at 3,790.93, and the Nasdaq Composite was up […]
A Swiss flag flies over a sign of Credit Suisse in Bern, Switzerland FABRICE COFFRINI | AFP | Getty Images Shares of Credit Suisse recovered their losses and ended the Monday trading session down around 1% after a big market rally. The shares had dropped as much as 10% at […]
U.S. stocks charged sharply higher Tuesday as Wall Street built on momentum from a broad market rally that kicked off the month and quarter earlier this week. [Click here to read what’s moving markets on Wednesday, Oct. 5] The benchmark S&P 500 surged 3%, its largest two-day climb since April […]
“It is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our economy,” Finance Minister Kwasi Kwarteng said in a statement. Rob Pinney | Getty Images News | Getty Images LONDON — The U.K. government on Monday […]
Boeing stock (BA) has been like a wounded bird this year amid recession fears, but an analyst at CFRA argues that it could be poised for liftoff. Shares of the airplane manufacturer have tanked 34% year to date, badly lagging the Dow Jones Industrial Average’s (^DJI) 17% drop. The Street […]
Mortgage applications on Wednesday became the latest sign showing how hard rates are hitting housing. And it could get worse. The volume of mortgage applications for purchases dropped 13% last week compared with the previous week, according to the Mortgage Bankers Association (MBA), while refinance activity, a measure most sensitive […]
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, October 4, 2022 Today’s newsletter is by Sam Ro, the author of TKer.co. Follow him on Twitter at @SamRo. Excess savings are shrinking, […]