US import prices increase 0.5% on a jump in fuel costs
U.S. import prices jumped faster than expected in September amid resurgent energy prices but prices excluding fuels were unchanged. The Labor Department said on Friday import prices rose 0.5 percent last month. That was the largest increase since May and...
Mnuchin: I won’t be ‘losing any sleep’ if China dumps US bonds in retaliation over trade
Treasury Secretary Steven Mnuchin said Friday he isn’t worried about China selling its stockpile of U.S. Treasurys in retaliation over trade because there’s plenty of demand for U.S. government bonds. “If they decide they don’t want to hold them, there...
JPMorgan Chase third quarter earnings top Wall Street estimates
J. P. Morgan Chase, the biggest U.S. bank by assets, is the first major lender to report earnings. The company is closely watched by investors looking for clues into how the industry’s Wall Street and Main Street businesses fared in...
Cramer says it’s time to buy stocks on Friday after massive sell-off: ‘We are oversold’
Friday is the time to start buying stocks again, Jim Cramer said during a CNBC special show on Thursday evening. U.S. stocks fell sharply on Thursday amid fears of rapidly rising interest rates and a possible global economic slowdown. “I...
Fed’s ‘glacial’ normalization not enough to cope with inflation risks: Stephen Roach
Inflation risks are mounting and the Federal Reserve’s “glacial” normalization pace isn’t adequate to cope with it, Yale University’s Stephen Roach warned on Thursday. “Supply chains have been a major force holding down global and U.S. inflation, and they are...
In addition to the Fed, Trump can blame his tariffs for the latest market slump
While President Donald Trump has directed his ire at the Federal Reserve for the recent stock market decline, he also has himself to blame. The president’s escalating trade battle with China has added another layer of uncertainty to the nervousness...
Larry Kudlow says the Fed is independent and the president is not dictating policy to central bank
A day after President Donald Trump called the Federal Reserve “loco,” his top economic advisor said the White House is not trying to influence monetary policy. Larry Kudlow, director of the National Economic Council, spoke Thursday to CNBC about the...
Bitcoin struggles to prove its ‘safe haven’ case, nosediving with the broader markets
Bitcoin’s role as a “safe haven” asset in turbulent times is looking more unlikely. As the U.S. stock market saw its biggest drop since February on Wednesday, the largest digital currency dropped 6 percent along with it. Bitcoin, sometimes referred...
Investor Barry Sternlicht worries about a recession signal and an economy not as strong as it appears
Barry Sternlicht, CEO of global investment group Starwood Capital, told CNBC that negative factors are contributing to his unease about the state of U.S. economy. “The economy’s not quite as strong as the number indicated,” he told CNBC’s Jim Cramer...
Fintech won’t drain money away from banks, regulators say
The rise of financial technology — more commonly known as fintech — won’t threaten the existence of banks and it’s the responsibility of authorities to make sure that traditional lenders are prepared for changes in their industry, policymakers and regulators...
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