Jobless claims unexpectedly jump despite relaxed economic restrictions
First-time claims for jobless benefits showed an unexpected jump to 770,000 as the labor market tries to recover from the Covid-19 pandemic that sent more than 22 million Americans to the unemployment line a year ago, the Labor Department reported...
Stocks making the biggest moves in the premarket: Dollar General, Signet Jewelers, Petco & more
Take a look at some of the biggest movers in the premarket: Dollar General (DG) – Dollar General shares tumbled 6.1% in premarket action after the discount retailer missed estimates by 10 cents a share, with quarterly earnings of $2.62...
Here’s where the Federal Reserve sees interest rates, the economy and inflation going
The Federal Reserve on Wednesday dialed up its economic growth expectations but signaled that there are no expected interest rate hikes for the next two years. The so-called dot-plot projections budged little, with most members still expecting to keep rates...
Fed sees stronger economy and higher inflation, but no rate hikes
The Federal Reserve on Wednesday sharply ramped up its expectations for economic growth but indicated that there are no interest rate hikes likely through 2023 despite an improving outlook and a turn this year to higher inflation. As widely expected,...
Robinhood beefs up executive team with Google veteran to lead product ahead of IPO
Robinhood hires Aparna Chennapragada as first chief product officer Robinhood has hired a top Google executive as its first chief product officer ahead of its upcoming public debut. The trading start-up said Wednesday it will bring on Aparna Chennapragada, who...
Mortgage refinance demand tanks 39% as rates continue to climb
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Higher mortgage rates are cutting into demand for refinances, as fewer and fewer...
As Fed gets ready to deliver its interest rate decision, Wells Fargo predicts the 10-year yield could reach 2.25% this year
Don’t rule out a 10-year Treasury Note yield as high as 2.25% this year. That’s the message from Wells Fargo Securities’ Michael Schumacher, ahead of Wednesday’s Federal Reserve interest rate decision. “The fiscal stimulus is enormous, and the vaccine rollout...
Homebuilder confidence drops as interest rates and lumber prices rise
A contractor works on a house under construction at the Norton Commons subdivision in Louisville, Kentucky, U.S., on Monday, March 8, 2021. Luke Sharrett | Bloomberg | Getty Images A monthly index measuring homebuilder confidence in the single-family housing market...
Investors now fear inflation and the Fed more than Covid, Bank of America survey shows
Just over a year since Covid-19 turned the world upside down, investors are starting to get over it. For the first time since the pandemic hit, respondents to the Bank of America Fund Manager Survey said the market faces bigger...
Short sellers are betting more against SPACs
Venture capitalist Chamath Palihapitiya. Mark Kauzlarich/Bloomberg via Getty Images Blank check funds are hot. Wall Street investors are increasingly betting against them. Short positions in special purpose acquisition companies, or SPACs, is at $2.7 billion, more than triple the $765...