Richmond Federal Reserve President Thomas Barkin said Friday he’s on board with reducing the amount of economic help the central bank is providing as concerns grow about inflation. With the Fed indicating that it’s likely to start pulling back on its monthly bond purchases, Barkin said that seems reasonable and he’s leaning toward beginning the
Finance
The Good Brigade | DigitalVision | Getty Images The vast majority of health savings account owners aren’t investing their money — and it’s likely shortchanging them over the long term. Just 9% of accountholders were investing a portion of their HSA balance in 2020, according to an Employee Benefit Research Institute study published Thursday. The
In this article GS SPCE JBHT Signage at 23andMe headquarters in Sunnyvale, California, U.S., on Wednesday, Jan. 27, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. J.B. Hunt Transport Services — Shares of J.B. Hunt jumped more than 9% after the company beat estimates on
In this article CRSR PSON-GB TFC SPCE MRNA PNC Check out the companies making headlines before the bell: Moderna (MRNA) – Moderna added 3.2% in premarket trading after rising 3.2% yesterday, following an FDA panel recommendation for a booster dose of its Covid-19 vaccine. The panel recommended approval of a booster for people 65 and
Workers labor in a factory of bathing suits in Jinjiang in southeast China’s Fujian province Tuesday, Sept. 28, 2021. Feature China | Barcroft Media | Getty Images BEIJING — Ahead of China’s quarterly growth numbers due out on Monday, most major investment banks have trimmed their economic predictions for the year and warned that abrupt
People receive information as they attend a job fair at SoFi Stadium on Sept. 9, 2021, in Inglewood, California. PATRICK T. FALLON | AFP | Getty Images More than a third of jobless Americans are still long-term unemployed, and federal benefits for these workers ended more than a month ago. However, the number of
In this article BAC CAT WFC WBA MS UNH Check out the companies making headlines before the bell: UnitedHealth (UNH) – The health insurer’s shares rose 2.2% in the premarket after beating on the top and bottom lines for the third quarter and raising its full-year earnings forecast. UnitedHealth earned $4.52 per share, 11 cents
Inflation, whipped up by the supply chain crisis, will push bond yields higher over the next several weeks, according to Wells Fargo Securities’ Michael Schumacher. The firm’s head of macro strategy believes the benchmark 10-year Treasury Note yield could reach 1.9% before year-end — a 23% jump from Wednesday’s close. “Number one is inflation. It’s
Federal Reserve officials could begin reducing the extraordinary help they’ve been providing to the economy by as soon as mid-November, according to minutes from the central bank’s September meeting released Wednesday. The meeting summary indicated members feel the Fed has come close to reaching its economic goals and soon could begin normalizing policy by reducing
In this article PLUG .BBKA DAL BLK HAS JPM Check out the companies making headlines before the bell: JPMorgan Chase (JPM) – JPMorgan Chase reported a profit of $3.74 per share for the third quarter, compared with a consensus estimate of $3.00, while revenue also topped Wall Street forecasts. CEO Jamie Dimon said the quarter
Aerial photo of Taicang port container terminal, Suzhou City, Jiangsu Province in China, Oct. 4, 2021. Finn | Barcroft Media | Getty Images BEIJING — China reported disappointing growth in imports in September, while exports beat expectations, according to data released Wednesday by the customs agency. Imports in U.S. dollar terms rose 17.6% last month
In this article COIN Chesnot | Getty Images Coinbase is getting into NFTs. The cryptocurrency exchange said Tuesday it plans to launch a marketplace that lets users mint, collect and trade NFTs, or non-fungible tokens. Users can sign up to a waitlist for early access to the feature, the company said. NFTs are one-of-a-kind digital
Earnings may give stocks a major boost starting this week. Ally Invest’s Lindsey Bell finds the third quarter is undeniably the most powerful earnings season for Wall Street. “We’re starting to think about the end of the year into next year, and you start to hear corporate management teams talk about that,” the firm’s chief
Deal-making activities worldwide could hit a record $6 trillion by the end of the year as businesses continue to embrace cheap financing and the pandemic recovery, KPMG has said. Global mergers and acquisition volumes have so far surpassed $4.3 trillion this year, according to Refinitiv data, moving closer to the all-time high of $4.8 trillion
JP Morgan CEO Jamie Dimon gives a speech during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler| AFP | Getty Images Global supply-chain hiccups caused by the coronavirus have put a damper on economic growth, but the problem will be a fleeting one,
Take a look at some of the biggest movers in the premarket: Southwest Airlines (LUV) – The airline canceled more than 1,800 flights over the weekend, citing bad weather, air traffic control issues and staff shortages. Southwest disputed speculation that its high level of cancellations compared to other airlines was due to employee protests of
Traders work the floor of the New York Stock Exchange. NYSE Stock futures edged lower Sunday night after finishing near the flat line Friday after investors shook off concerns about a much weaker-than-expected labor market report released on Friday. Dow Jones Industrial Average futures fell 33 points, or 0.08%. S&P 500 and Nasdaq 100 futures
Lael Brainard, governor of the U.S. Federal Reserve, speaks during the National Association of Business Economics (NABE) annual meeting in Arlington, Virginia, on Monday, Sept. 27, 2021. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Lael Brainard‘s increased influence ahead likely means substantial changes and challenges for the nation’s banking system. Considered a
Top analyst Mike Mayo believes Wall Street is underestimating financials ahead of earnings season. Mayo, who follows large-cap banks for Wells Fargo Securities, suggests investors haven’t fully acknowledged the benefits associated with the booming stock market — from merger to wealth management fees. “It’s bull market banking,” the firm’s managing director told CNBC’s “Trading Nation”
In this article TSLA ALLO QDEL A OTLY MNTV Check out the companies making headlines before the bell: Tesla (TSLA) – Tesla announced it would move its corporate headquarters to Texas from California, with CEO Elon Musk noting the high cost of living and operating in California. Musk did say the company plans to increase