World
Stock futures rise slightly as S&P 500 is poised for worst week since March 2020
Stock futures rose modestly on Thursday evening as Wall Street tries to find its footing after a brutal week of selling. Futures tied to the Dow Jones Industrial Average gained 103 points, or 0.3%. Those for the S&P 500 added 0.4%, while Nasdaq 100 futures climbed 0.5%. The moves come as investors are increasingly worried […]
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Everyone knows inflation is on fire. This is what’s really fueling it
Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen at the gas pump and grocery store. There are literally hundreds of avenues that filter into broader measures the government uses to gauge price increases. The big three […]
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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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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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Musk on possible layoffs at Twitter: ‘The company needs to get healthy’
Musk addresses question of possible layoffs at Twitter: ‘The company needs to get healthy’ Musk said layoffs at Twitter will depend on its financial situation. “It depends. The company does need to get healthy,” Musk said, according to the source. “Right now the costs exceed the revenue” Musk said there has to be some rationalization […]
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‘No need for any concern’: Germany plays down fears of economic fragmentation in Europe after bond yields soar
German Minister of Finance Christian Lindner said there is no need for concern about the stability of the euro zone. John Thys | Afp | Getty Images LUXEMBOURG — There is no need for markets to be worried about the stability of the euro zone, Germany’s finance minister told CNBC Thursday following a recent surge […]
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UK bolsters gas stockpile for winter with Ukraine war squeezing supply and sending prices soaring
Russia is a significant supplier of oil and gas. A number of major economies have formulated plans to reduce their reliance on Russian hydrocarbons following its invasion of Ukraine. Sean Gladwell | Moment | Getty Images Norwegian energy firm Equinor said Thursday it would deliver extra gas to the U.K.’s Centrica over the next three […]
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China’s multi-billion dollar shopping festival tests e-commerce giants and consumer appetite
China’s “618” shopping festival sees e-commerce giants including JD.com and Alibaba offer huge discounts to shoppers. Billions of dollars worth of sales are racked up across the 618 sales period which usually lasts a couple of weeks. Geng Yuhe | Visual China Group | Getty Images China is in the midst of the “618” shopping […]
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Bank of England hikes rates for the fifth time in a row as inflation soars
Bank of England Governor Andrew Bailey has said he is not at all happy with rising inflation, but that the central bank couldn’t have done anything differently to avoid it. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday implemented a fifth consecutive hike to interest rates as it looks […]
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