Wall Street
Watch Jerome Powell testify to Congress on the economy and how the Fed plans to fight inflation
[This stream is set to start at 9:30 a.m. ET.] Federal Reserve Chair Jerome Powell on Thursday concluded two days of testimony in front of Congress, speaking in front of House members. In remarks for the Senate Banking Committee a day prior, Powell said the Fed understands the “the hardship high inflation is causing. We […]
Read More
S&P 500 futures are lower after the major averages dip, investors mull recession concern
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 7, 2022. Brendan McDermid | Reuters S&P 500 futures were lower Wednesday night after the major indexes slipped into the red at the end of regular trading and investors weighed the likelihood of a recession after Federal Reserve […]
Read More
President Biden calls on Congress to suspend the federal gas tax for 90 days
US President Biden delivers remarks on efforts to lower high gas prices in the South Court Auditorium at Eisenhower Executive Office Building June 22, 2022 in Washington, DC. Jim Watson | AFP | Getty Images President Joe Biden called on Congress Wednesday to suspend the federal gas tax for 90 days as prices at the […]
Read More
Biden calls on Congress to suspend the gas tax — Here’s what that means for prices at the pump
President Joe Biden called on Congress Wednesday to temporarily suspend the federal gas tax, as he tries to quell the rapid surge in prices at the pump. While experts say a suspension could provide some immediate relief, it could also keep demand elevated, thereby exacerbating tight supply. Consumers are getting hit with higher prices everywhere, […]
Read More
Stocks making the biggest moves midday: Nike, La-Z-Boy, Altria Group, Coinbase, Dow & more
People walk past a store of the sporting goods retailer Nike Inc. at a shopping complex in Beijing, China March 25, 2021. Florence Lo | Reuters Check out the companies making headlines in midday trading Wednesday. Nike — Shares of the athleticwear retailer fell more than 3% after Seaport downgraded the stock to neutral from […]
Read More
Watch Powell’s testimony to Congress on the Fed’s inflation fight, state of the economy
[The stream is set to start at 9:30 a.m. ET] Federal Reserve Chair Jerome Powell on Wednesday began two days of testimony in front of Congress. The central bank chief is expected to provide updates on the state of the economy and on how the Fed plans to curb inflationary pressures not seen since the […]
Read More
Stock futures are flat after markets claw back some losses from weeks of selling
U.S. stock index futures were flat overnight Tuesday after the major averages jumped in regular trading hours, attempting to claw back some losses following weeks of selling. Futures contracts tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were little changed. During regular trading Tuesday, the Dow surged 641 points, or 2.15%. […]
Read More
Bank of America and Citigroup are flagged for potential losses on risky loan deals by rival JPMorgan
Fund outflows and tightening conditions in a key corner of the credit markets have left big banks with an estimated $2 billion in losses, according to JPMorgan Chase . Bank of America and Citigroup have the most exposure to so-called hung loan deals within the coverage universe of JPMorgan analyst Vivek Juneja, according to a […]
Read More
Inflation is the ‘biggest poison’ for the global economy as recession risk rises, Deutsche Bank CEO says
Christian Sewing, Chief Executive Officer of Deutsche Bank, attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2020. Denis Balibouse | Reuters Europe and the U.S. face a high likelihood of recession as central banks are forced to aggressively tighten monetary policy to combat inflation, according to […]
Read More
S&P 500 futures rise 1% as the market is set to rebound from a brutal week
Traders on the floor of the NYSE, June 16, 2022. Source: NYSE Stock futures rose in overnight trading Monday following a brutal week as investors assessed a more aggressive Federal Reserve and rising chances of a recession. Futures on the Dow Jones Industrial Average gained more than 250 points. S&P 500 futures climbed 1.1% and […]
Read More