Evans says Fed programs are important backstop, disappointed by Treasury’s move to stop some funding
Chicago Federal Reserve President Charles Evans expressed disappointment Friday in the Treasury Department’s decision to end several lending programs implemented during the coronavirus pandemic. Speaking a day after Treasury Secretary Steven Mnuchin said the programs would not continue past their...
Mnuchin decision cuts Fed lending power, but sources say emergency programs can be revived
U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell share an elbow bump greeting prior to testifying before a House Financial Services Committee hearing on oversight of the Treasury Department’s and Federal Reserve’s coronavirus disease (COVID-19) pandemic response...
October existing home sales see ‘spectacular’ 26.6% annual gain even with short supply and surging prices
Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually to a seasonally adjusted annualized rate of 6.85 million units, according to the National Association of Realtors. The NAR’s chief economist, Lawrence...
John Malone says platforms like Apple, Amazon and Roku will dominate streaming
John Malone chairman of Liberty Media Michael Kovac | Getty Images | Vanity Fair) Liberty Media Chairman John Malone told CNBC that Amazon, Apple or Roku could dominate in the crowded streaming space given their ability to scale globally. “I think these...
Jobless claims filings pick up amid continued struggles for labor market
The pace of workers filing for unemployment claims picked up last week and was a bit higher than Wall Street had been expecting. Jobless claims totaled 742,000 for the week, the Labor Department reported Thursday, ahead of the 710,000 estimate...
Market ‘tug-of-war’ with Covid-19 may limit downside, $7.2B money manager says
Money manager Kevin Nicholson believes downside is limited for the S&P 500 through next month. Nicholson, who’s co-chief investment officer of global fixed income at RiverFront Investment Group, blames the market’s “tug-of-war” with Covid-19 news. “When we announce new vaccines,...
Ant Group is still capable of securing the world’s biggest IPO, says Chinese investor
Liu Qiang, Vice President of Fosun Technology and Financial Group, Deputy Chairman of Hani Securities, speaks with Arjun Kharpal, Senior Correspondent of CNBC, during Day 1 of CNBC East Tech West at LN Garden Hotel Nansha Guangzhou on November 17,...
Stocks making the biggest moves midday: Tesla, Walgreens, DraftKings, Square and more
CEO of Tesla Motors Elon Musk reacts following the company’s initial public offering at the NASDAQ market in New York June 29, 2010 Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Tesla — Tesla shares...
Bostic says Fed’s tools still have ‘juice’ and will be used if the economy slows
Atlanta Federal Reserve President Raphael Bostic said the central bank is prepared to step in with more policy help if needed to help businesses and people get through what could be some tough months ahead. Even with the prospects of...
U.S. companies with China operations look to the Asian giant for growth
Aerial view of Alibaba Shanghai R&D Center, ZJ Science City, IBM and Microsoft at AIsland on August 6, 2020 in Shanghai, China. Shen Chunchen | Visual China Group | Getty Images BEIJING — For some American businesses, having an office...
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