Breaking news
Stocks making the biggest moves midday: General Motors, Petco, GameStop, Alibaba, Cava and more
Check out the companies making headlines in midday trading: Auto stocks — Major automobile manufacturers slipped following President Donald Trump’s plans to impose a 25% tariff on “all cars that are not made in the United States,” effective April 2. Shares of General Motors , Ford Motor and Stellantis respectively fell 6%, 2% and 1%. […]
Read More
Nvidia to anchor CoreWeave IPO at $40 a share, source says
CoreWeave CEO Michael Intrator appears on CNBC on July 17, 2024. CNBC Nvidia is aiming to anchor CoreWeave’s initial public offering at $40 a share with a $250 million order, according to a person familiar with the matter. The company initially filed the offering at $47 to $55 per share. The source told CNBC’s Leslie […]
Read More
Former Treasury Secretary Janet Yellen to join global advisory board for bond giant Pimco
Treasury Secretary Janet Yellen speaking with CNBC’s Sara Eisen (not shown) at the U.S Treasury Department on Jan. 8th, 2024. CNBC Former Treasury Secretary Janet Yellen will be joining an advisory board for bond giant Pimco, CNBC has learned. Joining other prominent officials in the world of economics and finance, Yellen, who also served as […]
Read More
Treasury Department is set to lay off a ‘substantial’ number of employees, official says
People take pictures of the U.S. Treasury Department building in Washington, D.C., on Feb. 6, 2025. Mandel Ngan | AFP | Getty Images The Treasury Department is planning to furlough a “substantial” level of its workforce in conjunction with Elon Musk’s efforts to shrink the size of the federal government, according to a court document. […]
Read More
Consumer confidence in where the economy is headed hits 12-year low
Shoppers walk near a Nordstrom store at the Westfield UTC shopping center on Jan. 31, 2025 in San Diego, California. Kevin Carter | Getty Images Consumer confidence dimmed further in March as the view of future conditions fell to the lowest level in more than a decade, the Conference Board reported Tuesday. The board’s monthly […]
Read More
Stocks making the biggest moves premarket: Tesla, ViaSat, Pinterest, Nucor, AZEK and more
Check out the companies making headlines before the bell. AZEK — Shares of the outdoor products manufacturer soared 23% after cement manufacturer James Hardie Industries said it would acquire AZEK in a cash and stock deal totaling around $9 billion. James Hardie stock tumbled 11%. Pinterest — The social media stock added nearly 5% following […]
Read More
‘Transitory’ is back as the Fed doesn’t expect tariffs to have long-lasting inflation impacts
The “good ship Transitory,” despite an ominous record, appears ready to sail again for the Federal Reserve. Economic projections the central bank released Wednesday indicate that while officials see inflation moving up this year more rapidly than previously expected, they also expect the trend to be short-lived. The outlook spurred talk again about “transitory” inflation […]
Read More
Stocks making the biggest moves premarket: Five Below, Microchip Technology, ProAssurance and more
Check out the companies making headlines before the bell. QXO — The building products distributor added 4.8% after announcing it would acquire rival Beacon Roofing Supply in a deal worth $11 billion. The deal is expected to close by the end of April. Shares of Beacon were trading 2% higher. PDD Holdings — The Temu […]
Read More
Fed holds interest rates steady, still sees two cuts coming this year
WASHINGTON – The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year. Faced with pressing concerns over the impact tariffs will have on a slowing economy, the rate-setting Federal Open Market Committee kept its key borrowing rate targeted […]
Read More
Bank of America’s CEO says economic growth is ‘better than people think’ and the Fed should stay on hold
Bank of America CEO Brian Moynihan said Wednesday that consumers are continuing to spend and economic growth should be solid though slower this year. Despite surveys indicating that confidence is at a nearly three-year low amid increasing worries about inflation, Moynihan told CNBC that spending data shows consumers are still shelling out money, though shifting […]
Read More