Fed’s Mester: Rate hikes are based on data not preconceived notions on where they should be
Cleveland Federal Reserve President Loretta Mester did not use the exact phrase “data dependent,” which was so popular under previous central bank chief Janet Yellen, but on CNBC’s “Squawk Box” Friday she repeatedly said that economic numbers “inform our outlook”...
The Federal Reserve’s favorite inflation indicator says it is under control
When it comes to monitoring inflation, the Federal Reserve watches a different number than the rest of us. Headlines detail the latest Consumer Price Index changes, but the central bank monitors something a lot more esoteric-sounding, the Personal Consumption Expenditure...
The stock market loses 13% in a correction on average, if it doesn’t turn into a bear market
The average correction for the S&P 500 since World War II lasts four months and sees equities slide 13 percent before bottoming, according to analysis at Goldman Sachs and CNBC. The broad market index fell into correction Friday and is...
Athenahealth confident about reaching deal within two weeks, sources say
Athenahealth is confident it can reach a deal with one of several bidders within two weeks, sources told CNBC. The company has received several bids, the sources said, and there is confidence they will get a deal done. Athenahealth has...
Consumer sentiment slips in October reading, remains near historically high levels
Consumer sentiment for October was weaker than anticipated in the latest survey result, although the index remained near historically high levels. The University of Michigan’s monthly survey of consumers hit 98.6 in the final reading of October, below the 99...
Your first trade for Friday, October 26
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan Steve Grasso was a buyer of Lennar Karen Finerman was a buyer of Bank of America Dan Nathan was a buyer...
The US economy grew at a 3.5% pace in the third quarter, faster than expected
The U.S. economy grew at a faster-than-expected rate in the third quarter as inflation was kept in check and consumer spending surged, according to data released by the Commerce Department on Friday. Gross domestic product expanded by a 3.5 percent...
Wealth of world’s billionaires grew 20% last year, study reveals
The total wealth of global billionaires grew to $8.9 trillion in 2017, an increase of more than 19 percent from the previous year, according to a study released Friday by UBS and PwC. China’s ultra-wealthy are driving that trend, the...
A stock market correction is unlikely to stop the Fed from hiking rates
Markets are in a frenzy, the rest of the global economy is slowing down and there are little signs of inflationary pressures building in the system. Everybody knows this is a terrible time for the Federal Reserve to be raising...
US Treasury prices tick higher as investors seek safety amid market volatility
U.S. government debt prices rose on Friday as traders bought safe haven assets amid a rout in global equity markets. At around 4:40 a.m. ET, the yield on the benchmark 10-year Treasury note sank to 3.091 percent, while the yield...
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