Stock markets
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
Robinhood to fall to $5 as trading slows, main revenue source is threatened, Atlantic Equities says
A recovery for Robinhood may not be in the cards anytime soon, according to Atlantic Equities. Analyst John Heagerty on Wednesday downgraded the online brokerage to underweight, saying a decline in user engagement — combined with falling trading volumes, potential regulation around the payment for order flow business model and plummeting cryptocurrency valuations — will […]
Read More
China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain
New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022. Wan Shanchao | Visual China Group | Getty Images BEIJING — China released economic data for […]
Read More
Jim Cramer calls for ‘monster rate hikes’ ahead of key Fed decision
CNBC’s Jim Cramer on Tuesday called for Federal Reserve Chair Jerome Powell to implement aggressive interest rate hikes to tamp down inflation. “Jay Powell can’t solve the war in Ukraine. He can’t get more oil out of the ground. … The same goes for the other big source of inflation, food,” the “Mad Money” host […]
Read More