Stock markets
Market bears should take note that Powell will stop inflation by ‘any means necessary,’ Cramer says
CNBC’s Jim Cramer on Wednesday said that investors should be with Jerome Powell and not against him, as the Federal Reserve chair has proven he’s willing to take inflation down no matter what. “I think the Powell bears need a reset and a recalibration. … Turns out he’s willing to cause a slowdown — he’ll […]
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Take advantage of gold’s impending comeback with this best-of-breed stock, Cramer says
CNBC’s Jim Cramer on Wednesday said that he believes gold will make a recovery, and there’s one company in the industry that investors should consider adding to their portfolios. “I bet the precious metal can make a comeback. If I’m right, then the one to own is best of breed Barrick Gold, which I think […]
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Stock futures inch higher after Fed raises rates by most since 1994
U.S. stock index futures were modestly higher during overnight trading on Wednesday after the Federal Reserve implemented the largest interest rate hike since 1994. Futures contracts tied to the Dow Jones Industrial Average added 0.22%. S&P 500 futures were up 0.23%, while Nasdaq 100 futures advanced 0.29%. The major averages ended Wednesday’s session higher, with […]
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Jeffrey Gundlach says he wouldn’t be surprised if bitcoin drops to $10k
DoubleLine Capital CEO Jeffrey Gundlach said parts of the crypto world are blowing up and bitcoin could fall further to $10,000. “When it broke below $30(k), it looked on chart basis $20(k) was going to happen quickly, and it did. The trend in crypto is clearly not positive,” Gundlach said in an interview with Scott […]
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Powell says the Fed could hike rates by 0.75 percentage point again in July
Federal Reserve Chair Jerome Powell. Xinhua News Agency | Xinhua News Agency | Getty Images Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July as it did in June. “From the perspective of today, either a 50 basis point […]
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Fed members predict more hikes with the benchmark rate above 3% by year-end
U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March 3, 2022. Tom Williams | Reuters The Federal Reserve said Wednesday it expects the fed funds rate to increase by another roughly 1.75 percentage points over the next four […]
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It’s a daunting time for retirees, who face the biggest inflation threat, financial advisors say
MoMo Productions | Stone | Getty Images Retirees and those planning to retire soon are the people most threatened by high inflation, investment managers and financial experts said at CNBC’s Financial Advisor Summit. Inflation means a dollar today can buy fewer groceries and other household staples than it did a year ago, on average. Some […]
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Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on May 4. Text removed from the May statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]
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Millionaires are raising cash on fears that the Fed can’t tame inflation and stave off recession
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 9, 2022. Brendan Mcdermid | Reuters American millionaires are raising cash in response to lingering inflation fears, according to CNBC’s Millionaire Survey. Millionaires surveyed by CNBC ranked inflation as the top risk to both the economy and […]
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Stocks making the biggest moves premarket: Baidu, MicroStrategy, Moderna and more
Check out the companies making headlines before the bell: Baidu (BIDU) – Baidu shares jumped 4.1% in premarket trading after Reuters reported the China-based internet search giant is in talks to sell its controlling stake in the video streaming company iQIYI (IQ). iQIYI fell 3.4%. MicroStrategy (MSTR) – MicroStrategy lost 2.2% in the premarket as […]
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