Economy
Stocks making the biggest moves premarket: McCormick, Diageo, Nvidia & more
Check out the companies making the biggest moves premarket: McCormick — Shares rose more than 3% after Unilever confirmed it was in talks with the spices maker over a potential transaction to merge Unilever Foods with McCormick. If a deal were to take place, the Unilever news release said, it would involve “an upfront cash […]
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Oil prices reverse course to fall as traders assess Trump comments on Iran war
A general view of the Port of Kharg Island Oil Terminal, 25 km from the Iranian coast in the Persian Gulf and 483 km northwest of the Strait of Hormuz, in Iran on March 12, 2017. Anadolu | Anadolu | Getty Images Oil prices reversed course to drop in early Asia trading as traders assess […]
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Evercore ISI predicts ‘inflection point’ is days away, plans to commit capital if S&P 500 drops to this level
A week of “maximum uncertainty” should deliver a key opportunity for investors, according to Evercore ISI’s Julian Emanuel. “We’re getting towards an inflection point where we would want to commit capital here,” the firm’s managing director said Monday on CNBC’s ” Fast Money .” Emanuel pinpoints next Monday, April 6, the day President Donald Trump […]
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China suppliers warn of higher prices for Americans due to Strait of Hormuz closure
Pickleball paddle producer Devi Wei has a message for U.S. shoppers. “Americans will have to pay more,” the Chinese businessman told CNBC at a Beijing trade show last week at the China International Exhibition Center. Because of the recent swings in oil prices resulting from the Iran war and closure of the Strait of Hormuz, […]
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This is what really causes recessions, a former top Trump White House economist says
In 1973, OPEC proclaimed an oil embargo on the U.S. for its decision to resupply the Israeli military during the Yom Kippur war. The embargo lasted until March 1974, and during this time oil prices quadrupled. To control supply, the federal government under Nixon rationed oil, by state, to 1972 levels. By February 1974, it […]
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Powell sees inflation outlook in check, no need to hike rates because of oil shock
Federal Reserve Chair Jerome Powell, in a wide-ranging talk at Harvard University, said Monday that he sees inflation expectations as grounded despite rising energy prices so the central bank doesn’t need to respond with higher interest rates. As his term leading the central bank nears an end, Powell avoided questions about the longer-term direction of […]
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Stocks making the biggest moves midday: Fannie Mae, Boston Scientific, Blackstone, Palo Alto Networks and more
Check out the companies making the biggest moves in midday trading: Fannie Mae , Freddie Mac — Shares of the mortgage financing companies rallied after Pershing Square Capital Management’s Bill Ackman said in an X post late Sunday that the stocks are “stupidly cheap.” The billionaire investor suggested shares could rise 10-fold. Shares of Federal […]
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Fed Governor Miran still backs cuts, says interest rates could be ‘about a point’ lower this year
Key Points Federal Reserve Governor Stephen Miran continued his campaign for lower interest rates, telling CNBC that policymakers should disregard the current energy price spike. He told CNBC that he continues to think “we could be about a point easier, gradually done over the course of a year.” Source
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Watch Fed Chair Jerome Powell speak live to an economics class at Harvard
[The stream is slated to start at 10:30 a.m. ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.] Federal Reserve Chair Jerome Powell speaks Monday to the Harvard University Principles of Economics class. This will be one of Powell’s final scheduled […]
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Oil’s record month, TSA pay, the Pokémon card resale market and more in Morning Squawk
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Monday. This article about the future of film studios’ animated slates was the reminder I needed to go see “Hoppers,” as it feels like I’m the only one of my friends who hasn’t. Stock futures are higher this morning as Wall […]
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