Elon Musk says Chinese economy will surpass US by 2 or 3 times: ‘The foundation of war is economics’
Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., speaks during an event at the SpaceX launch facility in Cameron County, Texas, U.S., on Saturday, Sept. 28, 2019. Bronte Wittpenn | Bloomberg | Getty Images...
Fed’s James Bullard says rate cuts possible only if coronavirus turns into pandemic
St. Louis Federal Reserve President James Bullard said Friday the coronavirus outbreak would have to reach levels of the ordinary flu before he would consider cutting interest rates. Markets are anticipating the Fed will cut rates four times this year...
Stock market live updates: Dow loses 3,200 points and counting on week, bond yields collapsing
Traders work on the floor of the New York stock Exchange (NYSE) on on February 24, 2020 in New York City. Stocks fell over 1000 points on Monday as global concerns grow about the economic impact of the Coronavirus. Spencer...
Square emerges as a coronavirus hedge while other payment stocks get crushed
Jack Dorsey, chief executive officer of Square Inc., second right, tours the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015. Yana Paskova | Bloomberg | Getty Images Square has been an...
Coronavirus could trigger a worrying psychological change in US consumers, economist says
The rising numbers of coronavirus cases outside of China could trigger a psychological change in consumer behavior that ultimately damages the U.S. economy, an economist told CNBC. Speaking to CNBC’s “Squawk Box Europe” Thursday, Michelle Girard, chief U.S. economist at...
January pending home sales jump more than expected, up 5.2%
A single family home is shown for sale and in escrow in San Marcos, California. Mike Blake | Reuters Pending home sales in January rose 5.2%, the National Association of Realtors said Thursday, crushing analysts’ expectations of a 2% monthly...
Toomey says he won’t oppose Judy Shelton’s controversial Fed nomination
Senator Pat Toomey Cameron Costa | CNBC Sen. Patrick Toomey said he will support the nomination of Judy Shelton to the Federal Reserve, removing a key obstacle to her confirmation. The Pennsylvania Republican said Wednesday he received assurance that Shelton...
US new home sales surge to 12.5-year high in January
Workers install roof trusses on a home under construction in Vineyard, Utah. George Frey | Bloomberg | Getty Images Sales of new U.S. single-family homes raced to a 12.5-year high in January, pointing to housing market strength that could help...
Disaster insurance investment bets strike fever pitch as coronavirus fears soar
The coronavirus outbreak is sparking extreme demand for market protection, according to XFA’s Bill Looney. Looney, who runs the firm’s global business development, finds options traders are placing call strikes on the Cboe Volatility Index at a fever pitch as new virus cases...
Weekly mortgage applications rise 1.5%, just before the big rate drop
A mixed week for mortgage rates caused a split in application volume between refinances and purchase loans. Total mortgage application volume rose 1.5% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index, which included...
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