Month: June 2022
Trash and dollar stores: Analysts are starting to give their top stocks to own in a recession
With the market selling off on fears of an imminent recession, individual stock analysts are starting to trot out their top stock picks to own in an economic downturn. A number of reports to clients of Wall Street banks this week focused on stocks that have resilient revenues and business models. Stocks fell deeper into […]
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Environmental groups sue Biden to block 3,500 oil and gas drilling permits
A polar bear sow and two cubs are seen on the Beaufort Sea coast within the 1002 Area of the Arctic National Wildlife Refuge. U.S. Fish and Wildlife Service | Reuters A coalition of environmental groups this week sued the Biden administration in an effort to stop more than 3,500 permit applications from energy companies […]
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Remember Foursquare? The location tech used by Apple, Uber and Coca-Cola knows you
In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. Even if you aren’t aware of it, you probably use Foursquare every single day — or at least its technology. With more than 125,000 developers worldwide embedding it in their own software, and with 14 […]
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DOJ criminally investigating plan for alternate Trump electors with focus on lawyers, report says
United States Attorney General Merrick Garland speaks during a press conference announcing a significant firearms trafficking enforcement action and ongoing efforts to protect communities from violent crime and gun violence at the Department of Justice in Washington, June 13, 2022. Evelyn Hockstein | Reuters The Department of Justice is conducting a criminal investigation into the […]
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SpaceX employees denounce CEO Musk as ‘distraction’ in letter
SpaceX owner and Tesla CEO Elon Musk (R) gestures as he arrives on the red carpet for the Axel Springer Awards ceremony, in Berlin, on December 1, 2020. Britta Pedersen | AFP | Getty Images A group of SpaceX employees derided flamboyant billionaire CEO Elon Musk as a “distraction and embarrassment” in an internal letter […]
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Airline stocks tumble as economic concerns overshadow travel surge
An American Eagle aircraft taxis as a Southwest Airlines aircraft lands at Reagan National Airport in Arlington, Virginia, January 24, 2022. Joshua Roberts | Reuters Packed planes. Sky-high airfare. An end to Covid testing for international arrivals. So much is going in airlines’ favor these days — except their share prices. The sector’s latest drop […]
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Chipotle testing cauliflower rice in select locations after item drew in customers last year
Employees prepare orders for customers at a Chipotle Mexican Grill restaurant in Hollywood, California. Patrick T. Fallon | Bloomberg | Getty Images Chipotle is giving cauliflower rice another try after the item helped bring in new customers when it was offered for a limited time last year. The Newport Beach, California-based chain said Thursday it […]
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A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022. Elizabeth Frantz | […]
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This inflation indicator shook the Fed and caused it to get more aggressive
All of a sudden, Wall Street is hyper-focused on inflation expectations, and an indicator from the University of Michigan with its roots in the 1940s, for clues as to how the Federal Reserve will try to manage the economy and fight inflation that’s running at a more than 40-year high. The Fed can’t do anything […]
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Cost to finance a new car hits a record $656 per month — and auto shoppers could pay even more with latest Fed rate hike
Fg Trade | Istock | Getty Images Shortages, interest rates are pushing up prices “Simply put, there is not enough supply of sellable vehicles to support demand,” said Jeff Schuster, LMC Automotive’s president of Americas operations and global vehicle forecasts, in a forecast published jointly with J.D. Power. In addition to a persistent shortage of […]
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