Economy
Social Security fund will be able to pay benefits one year longer than expected, Treasury says
U.S. Treasury Secretary Janet Yellen takes off her mask at the start of a Senate Banking, Housing and Urban Affairs Committee hearing on “Financial Stability Oversight Council Annual Report to Congress,” on Capitol Hill in Washington, U.S., May 10, 2022. Elizabeth Frantz | Reuters The Social Security trust fund most Americans rely on for their […]
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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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5 things to know before the stock market opens Thursday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures rise as Wall Street tries to rebound from Wednesday’s losses A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York, April 11, 2022. Andrew Kelly | Reuters […]
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Stocks making the biggest moves premarket: Hormel, Ciena, GameStop and more
Check out the companies making headlines before the bell: Hormel (HRL) – Hormel added 1.7% in premarket trading after beating top and bottom-line estimates for its latest quarter. The company behind the Spam, Dinty Moore and Jennie-O food brands backed its earlier full-year sales guidance and also said its moves to mitigate inflation and supply […]
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First time on a yacht? Avoid these 7 amateur mistakes
While most of the travel industry struggled to get back on its feet, the yachting industry had a different problem during the pandemic: serving everyone wanting to charter a boat. Like the rise in private jet travel during the pandemic, charter demand remains “extremely strong,” said Crom Littlejohn, chief commercial officer of the yacht brokerage […]
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The Fed’s Mary Daly says rate hikes should continue until inflation is tamed
San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level. Those moves likely would entail multiple 50 basis point hikes at coming meetings, then a possible rest to see how the central bank policy tightening is combining with other factors in addressing […]
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Yellen says the administration is fighting inflation, admits she was wrong that it was ‘transitory’
Treasury Secretary Janet Yellen emphasized that the White House has several strategies ready to go that will reduce an inflation burden she conceded is too high on Americans. In an interview Tuesday with CNBC’s Becky Quick, Yellen listed efforts aimed at prescription drug costs, the budget deficit and oil production that could bring down prices […]
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5 things to know before the stock market opens Wednesday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow futures rise as Wall Street begins June trading A trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, May 31, 2022. Michael Nagle | Bloomberg | Getty […]
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Stocks making the biggest moves premarket: Capri Holdings, Salesforce, Weibo and others
Check out the companies making headlines before the bell: Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above […]
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