US services sector grows at slowest pace since July
The U.S. services sector expanded at a slower-than-expected pace in December, according to data released Monday. The institute for Supply Management said its non-manufacturing index clocked in at 57.6 last month. Economists polled by Refinitiv expected the ISM non-manufacturing index...
US-China trade war: Beijing says both sides have expressed a desire to hammer out a deal
As officials from Beijing and Washington met to attempt to hash out their countries’ ongoing trade dispute, China’s foreign ministry said Monday that both sides had expressed a will to work together in order to implement the consensus of their...
Here’s what Wall Street bankers think Apple should buy, if Tim Cook decides to go deal hunting
Apple has a growth problem. With no game-changing product on the horizon (that we know of), it might finally make sense for Apple to acquire a company that can give it renewed life and change its Wall Street narrative. This...
This year’s fintech predictions, from the company powering most of the industry
This could be a banner year for fintech, according to one of the industry’s most dialed-in CEOs. Zach Perret runs Plaid, which links more than 20 million customer bank accounts to financial technology apps like Robinhood, Venmo and Coinbase. The...
Stock market comeback is now in the hands of China-US trade talks
Trade talks between the U.S.and China will dominate the market’s focus in the week ahead, while investors are also watching to see whether other companies join the ranks of Apple and warn about an earnings miss. Fed Chairman Jerome Powell,...
Rent, mortgage payments are hard to meet for workers entangled in the government shutdown
On Christmas Eve, Cory Binsfield, a landlord in Duluth, Minnesota, received bad news from a couple of his tenants: their rent will be late. Normally, Binsfield dings tenants who are more than five days behind with an 8 percent late...
‘Time to buy’: Bank of America contrarian indicator with strong track record signals rally ahead
The recent exit from risky assets like stocks by investors sent a powerful contrarian “buy” signal for the market not seen since during the Brexit turmoil, according to a Bank of America Merrill Lynch market gauge with a strong short-term...
Powell says Fed ‘wouldn’t hesitate’ to tweak balance sheet reduction if it was causing problems
Federal Reserve Chairman Jerome Powell said Friday that the central bank “wouldn’t hesitate” to adjust how quickly it lets its balance sheet shrink if it starts to cause problems in financial markets. “We don’t believe that our issuance is an...
Manufacturing industry posts biggest annual job gain in 20 years
The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997. A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred...
Job growth surges by 312,000 in December
Job creation ended 2018 on a powerful note, with nonfarm payrolls surging by 312,000 in December though the unemployment rate rose to 3.9 percent. The jobless rate, which was last higher in June, rose for the right reason as 419,000...
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