Breaking News: Markets
Fed’s Mester says inflation hasn’t peaked and multiple half-point rate hikes are needed
Cleveland Federal Reserve President Loretta Mester said Friday that she doesn’t see ample evidence that inflation has peaked and thus is on board with supporting a series of aggressive interest rate increases. “I think the Fed has shown that we’re in the process of recalibrating our policy to get inflation back down to our 2% […]
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What Friday’s downgrade of Micron means for our chipmaker stocks
Here’s how the CNBC Investing Club is thinking about its semiconductor holdings after another industry player, Micron, was downgraded to a sell. Source
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Payrolls rose 390,000 in May, better than expected as companies keep hiring
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had […]
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Stocks making the biggest moves premarket: Turning Point Therapeutics, Lululemon, RH and others
Check out the companies making headlines before the bell: Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in premarket trading after agreeing to be acquired by Bristol Myers Squibb (BMY) for $76 per share in cash, or $4.1 billion. Turning Point specializes in cancer treatments. Lululemon (LULU) – Lululemon shares rose […]
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Asia-Pacific stocks set for higher start after overnight Wall Street jump
SINGAPORE — Shares in Asia-Pacific looked set for a positive Friday start following gains overnight on Wall Street. Investors will also be looking ahead to the release of U.S. jobs data for May. Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 27,770 while its counterpart in […]
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Stock futures are slightly higher ahead of May’s jobs report
Trader on the floor of the NYSE, June 1, 2022. Source: NYSE Stock futures rose Thursday evening as investors focus their attention on more jobs data due out Friday morning. Futures tied to the Dow Jones Industrial Average were up about 34 points. S&P 500 futures and Nasdaq 100 futures were both higher by 0.2%. […]
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Stocks making the biggest moves after hours: Lululemon, RH, Okta and more
People line up to enter a store during Black Friday shopping at Fashion Outlets of Chicago in Rosemont of Greater Chicago Area, Illinois, the United States, on Nov. 26, 2021. Joel Lerner | Xinhua News Agency | Getty Images Check out the companies making headlines in extended trading. Lululemon Athletica — Shares of the athleisure […]
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Stocks making the biggest moves midday: Microsoft, Chewy, GameStop, MongoDB & more
Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. Charles Platiau | Reuters Check out the companies making headlines in midday trading Thursday. Microsoft — Shares of the technology giant slipped 0.6% after Microsoft cut its earnings and revenue guidance for the fiscal fourth quarter. Microsoft cited unfavorable foreign exchange rates as the […]
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Fed Vice Chair Lael Brainard says it’s ‘very hard to see the case’ for the Fed pausing rate hikes
Federal Reserve Vice Chair Lael Brainard said Thursday that it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon. Though she stressed that Fed policymakers will remain data-dependent, Brainard said the most likely path will be that the increases will continue until inflation is tamed. “Right now, it’s […]
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Tiger Global drops 14% in May during the tech sell-off, pushing hedge fund’s 2022 losses to over 50%
Chase Coleman’s Tiger Global Management suffered huge losses in May amid a tech-driven sell-off, making the hedge fund’s tough 2022 even worse. The growth-focused flagship fund at Tiger Global tumbled 14.3% in May, bringing its 2022 losses to over 50%, a source familiar with the return told CNBC’s David Faber. “Our recent public fund performance […]
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