Economy
Stock futures rise as Wall Street awaits more major bank earnings
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2022. Brendan Mcdermid | Reuters U.S. stock futures rose Thursday night after the Dow Jones Industrial Average declined following a disappointing start to second quarter earnings from the country’s largest banks. More major bank results are […]
Read More
Powell, Clarida cleared of wrongdoing in Fed trading controversy
Controversial trading activities from Federal Reserve Chairman Jerome Powell and former Vice Chairman Richard Clarida didn’t break any rules or laws, the central bank’s Office of Inspector General ruled Thursday. The report covered a period from 2019-21 when the two top-ranking officials traded stocks and funds while the central bank used monetary policy to influence […]
Read More
Stocks making the biggest moves midday: JPMorgan Chase, Goldman Sachs, Conagra Brands and more
Pedestrians pass in front of a JPMorgan & Chase bank branch automated teller machine (ATM) kiosk in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Check out the companies making headlines in midday trading. JPMorgan Chase – Shares of JPMorgan Chase sunk 3.49% and hit a 52-week low after the bank reported quarterly […]
Read More
JPMorgan CEO Dimon sums up U.S. economy in one paragraph — and it sounds bad
JP Morgan Chase & Co. Chairman & Chief Executive Officer Jamie Dimon testifies before the House Financial Services Committee on accountability for megabanks in the Rayburn House Office Building on Capitol Hill in Washington, DC on April 10, 2019. Mandel Ngan | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon on Thursday summarized the […]
Read More
Inflation poses a ‘clear and present danger,’ says Manchin: Economists weigh in on how it can hurt and help consumers
A person shops for groceries on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn. Michael M. Santiago | Getty Images News | Getty Images Inflation hit a new 40-year high in June, and policymakers are working feverishly to tame it — perhaps even risking recession to do so. Jerome Powell, chair […]
Read More
U.S. inflation jumped by 9.1% in June, a four-decade high: Here’s what you need to know about inflation
Americans paid much higher prices for goods and services in June compared to a year earlier, as inflation continued to soar, the Bureau of Labor Statistics reported. The consumer price index is one of the primary measures of inflation. CPI jumped to 9.1% last month from a year ago, above the 8.8% Dow Jones estimate. That […]
Read More
Emirates Airline slams Heathrow Airport’s ‘unacceptable’ demand to cut flights, refuses to comply
The airline industry has been hamstrung by a perfect storm of challenges over recent weeks, from labor shortages and supply disruptions to rising fuel prices. Sopa Images | Lightrocket | Getty Images DUBAI, United Arab Emirates — Emirates Airline has harsh words for London’s Heathrow Airport, the U.K.’s largest aviation hub currently beset by travel […]
Read More
5 things to know before the stock market opens Thursday
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, July 13, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Another weak morning for stocks Just days ago, investors toasted a winning week in the […]
Read More
Stocks making the biggest moves premarket: JPMorgan, Taiwan Semiconductor, Ericsson and more
Check out the companies making headlines before the bell: JPMorgan Chase (JPM) – JPMorgan Chase was down 2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2.76 per share. It also announced it was temporarily suspending share buybacks. CEO Jamie Dimon said inflation, waning consumer confidence and other […]
Read More
Embattled crypto lender Celsius informs state regulators that it’s filing for bankruptcy ‘imminently,’ source says
Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was “able to enrich himself considerably.” Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Crypto […]
Read More