Month: July 2022
Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession
This is a developing story. Check back for updates. Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, July 27, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell said on Wednesday he does […]
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FTC sues to block Facebook owner Meta from buying VR fitness app maker
Facebook CEO Mark Zuckerberg testifies before the U.S. House Financial Services Committee during An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors hearing on Capitol Hill in Washington on Oct. 23, 2019. Xinhua News Agency | Getty Images The Federal Trade Commission is suing to block Facebook-owner Meta from buying […]
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Here’s how advisors are shifting clients’ portfolios as the Federal Reserve again hikes rates by 75 basis points
The Good Brigade | DigitalVision | Getty Images Here’s how portfolio allocations have shifted “We’re attempting to address both inflation and recession concerns,” said certified financial planner John Middleton, owner of Brighton Financial Planning in Flemington, New Jersey. For stock allocations, he likes companies paying a high dividend, and value stocks, which typically trade for […]
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Small caps are starting to work — Here are a few buys from a top strategist in the group
Small caps are starting to outperform their large cap peers, and one top strategist has some stock picks for investors to play the trend. Jefferies’ strategist Steven DeSanctis believes small cap stocks have further to rally. After coming off their worst first half since 1973, small caps are due for a comeback, especially as early […]
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Pending home sales fell 20% in June versus a year earlier as mortgage rates soared
A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Signed contracts to purchase existing homes dropped 20% in June compared with the same month a year ago, the National Association of Realtors said Wednesday. That is the slowest pace since […]
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Fed hikes interest rates by 0.75 percentage point for second consecutive time to fight inflation
The Federal Reserve on Wednesday enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to tamp down runaway inflation without creating a recession. In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive moves since the Fed […]
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Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on June 15. Text removed from the March statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]
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WHO recommends gay and bisexual men limit sexual partners to reduce the spread of monkeypox
People line up outside the Test Positive Aware Network nonprofit clinic to receive the monkeypox vaccine in Chicago, Illinois, July 25, 2022 Eric Cox | Reuters The World Health Organization on Wednesday recommended that gay and bisexual men limit their number of sexual partners to protect themselves from monkeypox and help slow transmission of the […]
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Senate passes bill to boost U.S. chip production and China competition, sending to House
President Joe Biden listens as Communications Workers of America President Christopher Shelton speaks during a virtual meeting on the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, in the South Court Auditorium at the White House on July 25, 2022 in Washington, DC. Anna Moneymaker | Getty Images The Senate on Wednesday passed […]
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Stocks making the biggest moves midday: Chipotle, Microsoft, Spotify, Alphabet and more
Signage is displayed outside a Chipotle Mexican Grill Inc. restaurant in San Francisco, California, U.S., on Monday, July 20, 2020. Chipotle is scheduled to release earnings figures on July 22. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Chipotle Mexican Grill– Shares of Chipotle surged more […]
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