Stocks making the biggest moves midday: General Electric, Warner Bros. Discovery, UPS, 3M and more
A General Electric (GE) sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Aly Song | Reuters Check out the companies making headlines in midday trading. General Electric — Shares slid more...
Fed’s Mester casts doubt on the need for ‘shock’ interest rate hikes ahead
Cleveland Federal Reserve President Loretta Mester said Friday she’s in favor of raising interest rates quickly to bring down inflation, but not so quickly as to disrupt the economic recovery. That means a strong likelihood of backing a 50 basis...
Powell says taming inflation ‘absolutely essential,’ and a 50 basis point hike possible for May
Federal Reserve Chairman Jerome Powell affirmed the central bank’s determination to bring down inflation and said Thursday that aggressive rate hikes are possible as soon as next month. “It is appropriate in my view to be moving a little more...
Many factory workers in Shanghai can’t get back to work, even after Covid controls ease
BEIJING — Foreign businesses are struggling to bring workers back to factories after weeks of lockdowns in Shanghai, as the country battles its worst Covid outbreak since the pandemic began. Nearly a month since Covid restrictions began in earnest in...
Watch Fed Chairman Jerome Powell speak live at IMF debate
[The stream is slated to start at 1 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Thursday on a panel presented by the International Monetary...
Weekly jobless claims total 184,000, just above expectations in tight labor market
Initial jobless claims last week were a bit higher than expected but still reflective of a labor market where employers are loathe to fire workers. First-time claims for benefits in the week ended April 16 totaled 184,000, a decline of...
Fed’s Daly says the economy can handle rate hikes, but a mild recession is possible
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, November 12 2018. Ann Saphir | Reuters San Francisco Federal Reserve President Mary Daly acknowledged...
Fed’s Bostic expresses caution about the pace of interest rate hikes
Atlanta Fed President Raphael Bostic did not commit in a CNBC to interview to what pace the Fed should take in increasing benchmark rates.
Homebuilder sentiment drops for fourth straight month, as rising rates push housing to ‘an inflection point’
A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California. David Paul Morris | Bloomberg | Getty Images Sharply rising mortgage rates are taking their toll on the nation’s homebuilders,...
Market will break out of slump due to peaking inflation, Evercore ISI predicts
The market slump may be in its final innings. According to Evercore ISI’s Julian Emanuel, stocks should start grinding higher due to peaking inflation. He cites a positive trend going back to the last time stocks and bonds fell together:...
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