Economy
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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Amazon plans 4,000 more jobs in the UK this year, defying tech downturn
An Amazon warehouse in Warrington, England. Nathan Stirk | Getty Images Amazon announced Friday it would create more than 4,000 permanent jobs in the U.K. in 2022, defying a wave of job cuts in the tech industry. The roles will include job functions in software development, product management, and engineering, as well as operational duties […]
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Investing on the graveyard shift: Two new ETFs look to capture the ‘night effect’
Two new ETFs out this summer are working the overnight shift. The NightShares 500 [NSPY] and NightShares 2000 ETFs [NIWM] are doing something no ETF has done before: Take advantage of the so-called “night effect.” According to NightShares CEO Bruce Lavine, stocks bought at the market close and sold when markets open again in the […]
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Fed Governor Waller expects 0.75 percentage point hike, but open to a larger one
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., U.S, on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said he’s willing to consider what would be the most aggressive interest rate […]
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