Breaking News: Economy
CNBC Daily Open: Nvidia’s ‘drop-the-mic moment’
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading in New York on August 23, 2024. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, […]
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Why dividend stocks should be a hot play into fall
ETF Edge Why dividend stocks should be a hot play into fall Published Sat, Aug 24 202411:00 AM EDT Ellie Stevens@elliestevens02 WATCH LIVE Source
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Markets are now wondering whether the Fed might cut by half a point in September
With Federal Reserve Chair Jerome Powell all but confirming that an interest rate cut is imminent, the market’s attention Friday quickly turned to when and by how much. Traders continued to price in a greater likelihood that the Fed will kick off what is expected to be a protracted easing campaign in September with a […]
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Stocks making the biggest moves midday: Cava, Intuit, Ross Stores, Workday and more
Check out the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain popped more than 21% on stronger-than-expected quarterly results . Cava posted earnings of 17 cents per share on $233 million in revenue in the fiscal second quarter. That topped LSEG estimates calling for earnings per share of […]
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Fed Chair Powell indicates interest rate cuts ahead: ‘The time has come for policy to adjust’
Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of […]
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Watch live: Fed Chair Jerome Powell speaks from Jackson Hole conference
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers his keynote speech Friday morning at the central bank’s annual retreat in Jackson Hole, Wyoming. Powell was widely expected to chart a path forward […]
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No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere. The kingdom’s $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to […]
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A recession is coming in the U.S., and ‘a few rate cuts’ won’t prevent it, says strategist
An Aldi supermarket in Alhambra, California, US, on Thursday, June 27, 2024. Eric Thayer | Bloomberg | Getty Images Contrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession, and the predicted upcoming U.S. Federal Reserve rate cuts will not be sufficient to steer […]
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Here’s everything to expect from Fed Chair Powell’s speech Friday in Jackson Hole
Key Points Fed Chair Jerome Powell will deliver his policy speech at 10 a.m. ET from the central bank’s annual conclave in Jackson Hole, Wyoming. For all the attention being paid to the presentation, the chances of it containing any startling news seem remote. In previous years, Powell has used Jackson Hole speech to outline […]
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Philadelphia Fed President Harker advocates for interest rate cut in September
Key Points Philadelphia Federal Reserve President Patrick Harker provided a strong endorsement to an interest rate cut on the way. “I think it means this September we need to start a process of moving rates down,” Harker told CNBC. Kansas City Fed President Jeffrey Schmid also spoke to CNBC, offering a less direct take on […]
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