Weekly jobless claims unexpectedly rise, hit highest level since early September
Jobless claims unexpectedly rose last week as states reimposed coronavirus restrictions as lawmakers struggle to push through new government aid, according to a Labor Department report Thursday. The number of first-time unemployment-benefits filers totaled 885,000 in the week ending Dec....
Bitcoin hits new all-time high above $23,000, extending its wild 2020 rally
Omar Marques | LightRocket | Getty Images Bitcoin hit a fresh record high above $23,000 on Thursday, extending a wild rally for the cryptocurrency that has seen it more than triple in value this year. The world’s most-valuable digital currency...
Fed commits to keep buying bonds until the economy gets back to full employment
The Federal Reserve on Wednesday made a key adjustment to its efforts to support the economy, while upgrading its outlook for growth. As expected, the Fed held benchmark interest rates near zero following the conclusion of its two-day meeting. Investors...
Fed raises its economic outlook slightly, sees 4.2% growth next year and 5% unemployment rate
People ride scooters past the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images The Federal Reserve dialed up its economic expectations slightly for the end of...
Homebuilder confidence drops from record high as rising prices hit buyers
A house under construction is seen in Culver City, a neighborhood of Los Angeles on November 21, 2020. Chris Delmas | AFP | Getty Images After three straight months of record highs, homebuilder confidence in the single-family housing market pulled...
Refinance demand jumps 105% annually, as mortgage rates set 15th record low of 2020
In this Friday, Sept. 21, 2012, photo,a home is for sale in Oklahoma City. Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve’s stimulus efforts may be having an impact on...
Robert Shiller calls stocks ‘highly priced,’ but wouldn’t cash out
Nobel Prize-winning economist Robert Shiller believes the fear of missing out is fading. According to Shiller, the market phenomenon was the major narrative driving the historic rally off the March 23 low — as the world entered the throes of...
The Fed could disappoint markets Wednesday, even if it keeps a super dovish tone
The Fed may see a brighter long-term outlook when it releases its economic forecasts Wednesday due to vaccine developments, but it also has the opportunity to disappoint at least some investors who are expecting immediate changes in its bond buying...
‘It’s an economic war’— Warren Buffett urges Congress to extend relief for small businesses
Berkshire Hathaway Chairman Warren Buffett urged Congress on Tuesday to extend aid to small businesses as they continue to struggle through economic shutdowns used to fight the coronavirus pandemic. “It’s an economic war,” Buffett told CNBC’s Becky Quick on “Squawk...
Goldman Sachs CEO David Solomon says 90% of small businesses have exhausted PPP funds
Goldman Sachs CEO David Solomon told CNBC on Tuesday that small businesses it surveyed are in dire need of another round of emergency Paycheck Protection Program funding. “They really have needs; 90% of them have exhausted their PPP funding at...