Breaking News: Economy
Stocks making the biggest moves premarket: Disney, Airbnb, Rivian, Amgen and more
Check out the companies making headlines before the bell. Disney — Shares were down about 1% after the media giant reported quarterly results that beat analyst expectations, thanks in part to strong performance at its streaming unit. The company earned $1.39 per share, excluding items, on revenue of $23.16 billion. Analysts expected a profit of […]
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CNBC Daily Open: Market correction may not be over yet
Traders work on the floor of the New York Stock Exchange during morning trading on August 06, 2024 in New York City. Michael M. Santiago | 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, no […]
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Sahm rule creator doesn’t think that the Fed needs an emergency rate cut
Key Points Sahm was the economist who introduced the so-called Sahm rule in 2019. It states that the initial phase of a recession has started when the three-month moving average of the U.S. unemployment rate is at least half a percentage point higher than the 12-month low. Source
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What are the economics of war?
More countries are boosting their defense industries, calling for a shift to “war economy mode.” But what exactly is a war economy? Last March, Thierry Breton, the EU’s commissioner for internal market, advocated for a shift of the European defense industry toward a war economy. Europe is facing an “existential threat,” he said, as the […]
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Kenya central bank cuts main lending rate by 25 basis points
Nairobi cityscape – capital city of Kenya, East Africa Jacek_sopotnicki | Istock | Getty Images Kenya’s central bank cut its benchmark lending rate by 25 basis points to 12.75% on Tuesday, saying there was scope for a gradual easing of its policy stance while ensuring continued exchange rate stability. “The MPC (Monetary Policy Committee) noted […]
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CNBC Daily Open: Dow sheds 1,000 points, Japan stocks rebound
A trader works on the floor of the New York Stock Exchange. NYSE 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, no matter where they are. Like what you see? You can subscribe here. What you need to […]
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CNBC Daily Open: Dow sheds 1,000 points
A trader works on the floor of the New York Stock Exchange (NYSE) ahead of the closing bell in New York City on August 5, 2024. Charly Triballeau | 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 […]
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San Francisco Fed President Daly sees interest rate cuts coming as labor market weakens
Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024. Graeme Sloan | Bloomberg | Getty Images San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be […]
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Trump blames Harris, Biden for stock market meltdown after taking credit for past upswing
Republican presidential nominee Donald Trump on Monday blamed Vice President Kamala Harris for the stock market’s dramatic plunge, months after claiming he deserved credit for the market’s then-record upswing. “Of course there is a massive market downturn. Kamala is even worse than Crooked Joe,” Trump wrote in a post on Truth Social about Harris, the […]
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Stocks making the biggest moves midday: Robinhood, Nvidia, Intel and more
Check out the companies making headlines in midday trading: Crypto stocks — Several bitcoin-related names were hit following the cryptocurrency’s drop below $50,000 for the first time since February. Robinhood plummeted more than 10%, and MicroStrategy plunged more than 8%. Others such as Coinbase and Marathon Digital each fell around 5%. Kellanova — Shares of […]
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