Markets
Fed minutes point to ‘likely’ rate cut coming in September
Federal Reserve officials at their July meeting moved closer to a long-awaited interest rate reduction, stopping short while indicating that a September cut had grown increasingly probable, minutes released Wednesday showed. “The vast majority” of participants at the July 30-31 meeting “observed that, if the data continued to come in about as expected, it would […]
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Stocks making the biggest moves midday: Target, JD.com, Macy’s and more
Check out the companies making headlines in midday trading: Target — Shares of the retailer surged 12% on second-quarter results that surpassed Wall Street’s expectations. The company maintained its cautious outlook but said sales grew roughly 3%. JD.com — The U.S.-traded shares of the Chinese e-commerce company fell more than 5% after Walmart confirmed it […]
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Nonfarm payroll growth revised down by 818,000, Labor Department says
The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday. As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million […]
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The explosion of online sports betting is taking a toll on how people invest
Algerina Perna | Baltimore Sun | MCT | Getty Images The explosion of online sports betting is taking a toll on personal finances, particularly among those who are financially distressed. That’s the conclusion of a recent paper, “Gambling Away Stability: Sports Betting’s Impact on Vulnerable Households.” The authors found that sports betting has exploded since […]
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‘Pick a number’: Strategist says the U.S. dollar will drift much lower against the Japanese yen
A pedestrian walks past a display board showing the currency exchange rate between the US dollar and the Japanese yen, along a street in Tokyo on August 5, 2024. Richard A. Brooks | Afp | Getty Images The U.S. dollar is likely to continue to drift lower against the Japanese yen over the coming months, […]
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CNBC Daily Open: A ‘crazy’ summer
Traders work on the floor of the New York Stock Exchange during morning trading on August 20, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no […]
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Recent volatility spike was a ‘huge overreaction,’ but expect more ahead, UBS strategist says
August has been a choppy month for markets, with uncertainty over the health of the global economy sparking a jump in volatility. At the start of the month, a weaker-than-expected jobs report in the U.S. raised concerns about a potential recession and caused U.S. stocks to slide. Meanwhile, a more hawkish tone from the Bank […]
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EV company Nio aims to build battery chargers and swap stations in every Chinese county
A Nio electric car uses one of the company’s battery swap stations on Nov. 13, 2023, in Taicang, Jiangsu province of China. Vcg | Visual China Group | Getty Images BEIJING — Chinese electric car company Nio said Tuesday it plans to install battery charging stations in every one of China’s 2,844 counties by the […]
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China’s antimony export controls rattle the tungsten industry
Key Points China’s latest export controls have caused some in the critical minerals industry to worry that Beijing will leverage its global supply chain dominance in unprecedented ways. “Three months ago, there’s [no] way anyone would have thought they would have done this. It’s quite confrontational in that regard,” said Lewis Black, CEO of Canada-based […]
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CNBC Daily Open: ‘Crazy’ summer
Traders work on the floor of the New York Stock Exchange during morning trading on Aug. 20, 2024. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. […]
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