Mohamed El-Erian: Stock market sell-off won’t stop the Fed from hiking rates
The stock market drop isn’t going to stop the Federal Reserve from normalizing interest rates, noted economist Mohamed El-Erian told CNBC on Wednesday. And that’s a good thing, he said. “I don’t think this derails the Fed in any way...
Apple plans to give away original content for free to device owners
Seven years ago, Walter Isaacson wrote that Apple founder Steve Jobs told him he’d “cracked” the code on bringing television into the digital age. Seven years later, the world is still waiting. But Apple’s not giving up, even if it...
Cramer: If Fed chief Powell were to ‘walk back’ aggressive rate remarks, Wall Street could rally
Federal Reserve Chairman Jerome Powell could “walk back” his aggressive statements on interest rates, CNBC’s Jim Cramer predicted Wednesday. “All he has to do is say, ‘You know what, I think that everything is on the table,'” Cramer said on...
No. 1 Wall Street pot analyst says the marijuana market will be much bigger than she first thought
The cannabis industry’s rapid evolution and new strategic partnerships with mainstream brands reveal a far larger possible market for legal marijuana than investors and analysts first anticipated, according to Cowen. “With cannabis, you’re talking about this massive step change in...
US producer prices rebound in September
U.S. producer prices increased 0.2 percent in September, reversing an unexpected decline in August and in line with expectations. A rise in services prices offset a slight drop in prices for goods. Final demand prices had fallen 0.1 percent in...
Trump advisor Hassett: Emerging markets fallout, not US inflation, poses ‘biggest risk’ to economy
A more severe downturn in emerging markets, not domestic inflation, is the “biggest risk” to the U.S. economy, a top economic advisor to President Donald Trump told CNBC on Wednesday. “I’m very concerned about emerging markets. If you look at...
European stocks mixed amid political uncertainty in Italy
European stocks traded mixed on Wednesday morning, as investors monitored the latest political developments in Italy. The pan-European Stoxx 600 was flat with the various sectors taking different directions. Autos and health care dropped the most in early deals. Overall,...
PPG shares bounce back after activist Nelson Peltz reports stake
PPG Industries rallied more than 5 percent in after-hours trading Tuesday after Trian Partners disclosed a stake in the company. Trian, managed by activist fund manager Nelson Peltz, has accumulated a $690 million, 2.9 percent stake in the 135-year-old manufacturer....
Cramer: Don’t buy Starbucks on Ackman’s new investment
Don’t chase Starbucks stock now that activist investor Bill Ackman has revealed his $900 million stake in the company, CNBC’s Jim Cramer said Tuesday. For one, the stock has been “going up straight” since Starbucks announced in July that it...
China is dramatically cutting US oil imports, analyst says, even though it’s not on tariff list
Oil may not have been on China’s official tariff list, but the country appears to have not imported any U.S. crude in August, according to Bimco’s chief shipping analyst, Peter Sand, who cited U.S. Census data. Bimco is the world’s...
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