World
JPMorgan midyear outlook shocker sees S&P 500 roundtrip to new record
The stock market will likely erase its 2022 losses in the second half as inflation declines and the U.S. economy skirts a recession, according to a top strategist at JPMorgan. Marko Kolanovic, who has remained bullish on stocks in recent months despite sharp declines, said in a note to clients on Thursday that he and […]
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‘Top Gun: Maverick’ sets sights on $1 billion global box office haul
Tom Cruise in “Top Gun: Maverick” Source: Paramount “Top Gun: Maverick” continues to break barriers at the box office. The Paramount and Skydance sequel to the 1986 hit “Top Gun” soared past $900 million in ticket sales globally Monday and has set its sights on the coveted $1 billion box office title. Without much standing […]
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OPEC+ to stick to oil supply boost plan as Biden heads to Saudi Arabia, sources say
U.S. President Joe Biden salutes as he boards Air Force One en route to Delaware Air National Guard Base from Joint Base Andrews, Maryland, May 13, 2022. Elizabeth Frantz | Reuters OPEC and allied producing countries including Russia will likely stick to a plan for accelerated oil output increases in August, sources said, hoping to […]
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Santoli: The S&P 500’s bounce is set to face its first hurdle to prove it’s more than a snapback
This is the daily notebook of Mike Santoli, CNBC’s senior markets commentator, with ideas about trends, stocks and market statistics. Investors have moved on from the “too hot” porridge of runaway inflation worries and are now sampling the “too cold” bowl of rising slowdown/recession concerns. For now, the markets are navigating the shift reasonably well, […]
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This first half ranks among the market’s worst on record. Here’s what typically happens next
The first half of this year ranks among the worst on record for stocks, with the S & P 500 losing more than a fifth of its value. But the selling could ease a bit in the second half if the history of similar terrible starts is any guide. Mounting fears of a recession caused […]
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Suze Orman has a warning for those who want to quit in the Great Resignation
44% of workers are worried about a layoff, job loss Despite the collective optimism around the current job market, 44% of workers are worried about a layoff or job loss, CNBC’s All-America Workforce Survey found. Some 84% are concerned about a recession. Economists are starting to raise their recession probability outlooks. On Monday, Goldman Sachs […]
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British Airways staff at London’s Heathrow vote to strike
British Airways Boeing 747-400 with nickname Queen of the Skies commercial aircraft as seen on final approach with landing gear down landing at New York JFK John F. Kennedy International Airport in USA on 23 January 2020. Nicolas Economou | NurPhoto | Getty Images British Airways staff at London’s Heathrow airport have voted in favor […]
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Watch Jerome Powell testify to Congress on the economy and how the Fed plans to fight inflation
[This stream is set to start at 9:30 a.m. ET.] Federal Reserve Chair Jerome Powell on Thursday concluded two days of testimony in front of Congress, speaking in front of House members. In remarks for the Senate Banking Committee a day prior, Powell said the Fed understands the “the hardship high inflation is causing. We […]
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Chinese EV maker Nio says a car fell from third floor of a Shanghai office, killing two
Employees stand next to a ET7 sedan at a NIO Inc. dealership in Shanghai, China, on Wednesday, June 8, 2022. Qilai Shen | Bloomberg | Getty Images A test car made by Chinese electric vehicle start-up Nio fell out of a third-floor parking lot of a building in Shanghai, killing two people, the company said in a Weibo post on Thursday. The incident happened at around 5:20 p.m. Beijing time on Wednesday. One company staff member and a […]
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Norway announces 50 basis point hike to interest rates, largest for 20 years
Norway’s central bank, also known as Norges Bank, in Oslo, Norway. Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s central bank announced a 50-basis-point hike to its benchmark interest rate on Thursday, the country’s largest single increase since 2002. The move takes the policy rate from 0.75% to 1.25%, and Norges Bank Governor Ida Wolden […]
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