Breaking News: Economy
Next ECB rate cut could be longer in coming, Holzmann says
Robert Holzmann, governor of Austria’s central bank. Bloomberg | Bloomberg | Getty Images The next interest rate cut by the European Central Bank could be longer in coming after a recent uptick in inflation, ECB Governing Council member Robert Holzmann was quoted as saying on Saturday. “I don’t see any interest rate hikes at the […]
Read More
Stocks making the biggest moves premarket: Rigetti Computing, KULR Technology, MicroStrategy and more
Check out the companies making headlines before the bell. Rigetti Computing , Quantum Computing , D-Wave Quantum – Stocks tied to quantum computing were surging in premarket trading, building on a strong year-end rally for the budding industry . Shares of Rigetti rose 27%, while D-Wave Quantum’s stock jumped 5% and Quantum Computing shares added […]
Read More
A look back at U.S. airlines’ wild 2024: From door plugs to bankruptcy, an IT meltdown and a merger
People check-in for their flights at the airport ahead of the Thanksgiving Holiday at Hartsfield-Jackson Atlanta International Airport, in Atlanta, Georgia, U.S., November 27, 2024. Megan Varner | Reuters It’s been another eventful year for U.S. air travel. Just five days into the year, a door panel blew off of a nearly new Boeing 737 […]
Read More
Stocks making the biggest moves premarket: GameStop, MicroStrategy, Honda and more
Check out the companies making headlines before the stock market opens. GameStop – Shares jumped more than 4%, extending their gains from Tuesday. The video game retailer has risen four straight days and climbed more than 77% in 2024. Crypto stocks – Stocks linked to the price of bitcoin moved lower as the cryptocurrency slid […]
Read More
Why the ‘great resignation’ became the ‘great stay,’ according to labor economists
Key Points The “great resignation” of 2021 and 2022 saw unprecedented numbers of workers quit their jobs amid ample and better-paying job opportunities. Today, it’s the “great stay.” Businesses pulled back on hiring due to higher interest rates. Fewer job openings hindered the prevalence of quitting. Employers aren’t laying off many workers, however, due to […]
Read More
Trump taps ex-Treasury official Miran as chair of Council of Economic Advisers
Stephen Miran, who was an adviser for economic policy at the U.S. Treasury Department when Donald Trump was last in office, has been tapped by the president-elect as the chair of his Council of Economic Advisers, Trump said on Sunday. The White House Council of Economic Advisers advises the president on economic policy. This story […]
Read More
How the Federal Reserve’s rate policy affects mortgages
The Federal Reserve lowered its interest rate target three times in 2024. This has many Americans waiting for mortgage rates to fall. But that may not happen for some time. “I think the best case scenario is we’re going to continue to see mortgage rates hover around six and a half to 7%,” said Jordan […]
Read More
How a government shutdown would (and wouldn’t) affect consumers days before Christmas
The US Capitol Christmas Tree is lit up ahead of the Christmas season on the West Lawn of the US Capitol Building in Washington DC., United States on December 3, 2024. Celal Gunes | Anadolu | Getty Images If the government shuts down days before Christmas, holiday travel could be hit but holiday shipping spared. […]
Read More
Key Fed inflation measure shows 2.4% rate in November, lower than expected
Prices barely moved in November but still held higher than the Federal Reserve’s target when looked at from a year ago, according to a Commerce Department measure released Friday. The personal consumption expenditures price index, the Fed’s preferred inflation gauge, showed an increase of just 0.1% from October. The measure indicated a 2.4% inflation rate […]
Read More
Stocks making the biggest moves premarket: Novo Nordisk, FedEx, Nike, Starbucks, MicroStrategy and more
Check out the companies making headlines before the bell. Novo Nordisk – Shares plunged more than 19% after the Danish pharmaceutical giant reported disappointing late-stage trial results for its experimental weight loss drug, CagriSema. Rival obesity drug maker Eli Lilly rose more than 6% following the results. FedEx – Shares jumped 8.5% after FedEx announced […]
Read More