Economy
Microsoft president sees ‘new era’ of stagnating labor pool
Microsoft CEO Brad Smith participates in a meeting at The Westin Palace Hotel, on 20 May, 2022 in Madrid, Spain. Cezaro De Luca | Europa Press | Getty Images U.S. companies are facing a “new era” in which fewer people are entering the workforce and pressure to pay higher salaries may become permanent, Microsoft president […]
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5 things to know before the stock market opens Monday
Netflix signage next to the Nasdaq MarketSite in New York, U.S., on Friday, Jan. 21, 2022. Michael Nagle | Bloomberg | Getty Images Here are the most important news items that investors need to start their trading day: 1. Big earnings week More quarterly earnings reports will stream in this week as companies and investors […]
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Stock futures inch higher ahead of a busy week of earnings
U.S. stock index futures were modestly higher during overnight trading Sunday as Wall Street looks ahead to a busy week of earnings. Futures contracts tied to the Dow Jones Industrial Average added 0.25%. S&P 500 futures were up 0.4%, while Nasdaq 100 futures advanced 0.5%. The major averages are coming off a losing week, despite […]
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Airfares are finally starting to cool as peak summer travel season fades. Now what?
Passengers are seen at the Delta Air Lines check-in counters at Hartsfield-Jackson Atlanta International Airport ahead of the Fourth of July holiday in Atlanta, Georgia, July 1, 2022. Elijah Nouvelage | Reuters Flights, believe it or not, are getting cheaper. Airfares fell a seasonally-adjusted 1.8% from May to June, according to the latest U.S. inflation […]
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G-20 finance meetings in Bali overshadowed by war in Ukraine
Financial leaders of the Group of 20 richest and biggest economies have wrapped up meetings on the Indonesian resort island of Bali without a final joint communique after talks were overshadowed by divisions over the war in Ukraine. As G-20 host this year, Indonesia has sought to bridge divisions between G-20 members over Russia’s invasion, […]
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Stocks making the biggest moves midday: Citigroup, Wells Fargo, Pinterest and more
Citigroup offices in New York City. Adam Jeffery | CNBC Check out the companies making headlines in midday trading. Pinterest — Shares of the image-sharing social media company surged 16.2% on a report from the Wall Street Journal that Elliott Management has acquired a more than 9% stake. Citigroup — Citigroup rallied 13.2% after second-quarter […]
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Solar stocks sink as Senator Manchin says he won’t support climate bill
Sunrun installer putting up solar electric panels on a residential rooftop in California. Source: Sunrun Solar stocks tumbled Friday after Sen. Joe Manchin said he will not support increased spending to address climate change, according to NBC News, citing a Democrat briefed on the conversations. The Invesco Solar ETF, which tracks the industry, was down […]
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Argus downgrades Delta citing weak outlook following second-quarter earnings
Argus downgraded shares of Delta Air Lines to hold from buy, citing weaker-than-expected quarterly earnings and a less-than-stellar outlook. Shares of the Atlanta-based carrier have shed nearly 24% year-to-date through Thursday’s close. While Delta benefited from the rollback in Covid-19 travel restrictions and increased demand for international flights, it’s also been hit by capacity reductions […]
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Retail sales rose more than expected in June as consumers remain resilient despite inflation
A pedestrian carries a shopping bag while walking through Union Square on May 17, 2022 in San Francisco, California. Justin Sullivan | Getty Images Consumer spending held up during June’s inflation surge, with retail sales rising slightly more than expected for the month amid rising prices across most categories, the Commerce Department reported Friday. Advance […]
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Stocks making the biggest moves premarket: UnitedHealth, Wells Fargo, Pinterest and others
Check out the companies making headlines before the bell: UnitedHealth (UNH) – The health insurer’s stock rose 1.7% in the premarket after its quarterly earnings and revenue beat forecasts, and it raised its full-year outlook. The company’s results were helped in part by a strong performance at its Optum health care services unit. Wells Fargo […]
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