‘Rip-roaring hot’ jobs market sees private payrolls surge by 230,000, highest since February
Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody’s Analytics. Private companies added 230,000 more positions for the month,...
The Federal Reserve should return to role as a ‘supporting actor’ in the economy, Fed’s Evans says
Robust economic growth has allowed the Federal Reserve to return to its role as a “supporting actor” for economic growth, the head of the central bank’s Chicago district said Wednesday. Like Fed Chairman Jerome Powell a day before, Charles Evans...
The U.S. economy is set to look good ‘for quite some time,’ Chicago Fed president says
Following Federal Reserve chairman Jerome Powell’s description of the U.S. economic outlook as “remarkably positive”, market watchers are fielding questions as to how long this rosy period might last. The answer? Quite some time, in the words of Chicago Fed...
$8 billion valuation of Coinbase proves cryptos are not ‘tulips’: Michael Novogratz
The biggest U.S. cryptocurrency company has reportedly been valued at billions of dollars and that’s a bullish sign for the industry’s legitimacy, according to former Fortress hedge fund manager Michael Novogratz. Coinbase is negotiating a deal with investment firm Tiger...
After-hours buzz: TPX, JCP & more
Check out the companies making headlines after the bell: Tempur Sealy International shares jumped more than 8 percent in after-hours trading following reports that competitor Mattress Firm is preparing to file for bankruptcy. Reuters reported on Tuesday that Mattress Firm...
Fed’s Powell sees ‘remarkably positive outlook’ for economy that may be ‘too good to be true’
Federal Reserve Chairman Jerome Powell sees the U.S. economy generating highly optimistic expectations, with the unusual combination of low unemployment and inflation fueling hopes for an extended expansion. In a speech Tuesday, the central bank chief said the jobless rate...
Microsoft’s CFO explains its M&A strategy: It loves to buy ‘communities’ like LinkedIn and GitHub
Microsoft has been working from a clear strategy for acquisitions in the past few years if you ask Amy Hood, the company’s chief financial officer. With deals like LinkedIn, Minecraft developer Mojang, and most recently GitHub, Microsoft has been one...
US-Mexico-Canada agreement shows a deal with China is ‘possible,’ OECD secretary general says
The U.S. administration’s updated trade agreement with Mexico and Canada shows that a separate deal with China is “possible,” the secretary general of the Organization for Economic Co-Operation and Development (OECD) said Tuesday. “It’s a victory for the world to...
Trump just helped stocks clear an important hurdle, long-time bull Art Hogan says
Art Hogan sees the new deal to replace NAFTA as ammunition for his bull case. According to the B. Riley FBR chief market strategist, President Donald Trump helped U.S. stocks clear an important hurdle by resolving the North American trade...
Shadow banking crisis may push India’s central bank to leave the rupee stranded
With the rupee hovering close to its all-time weakest level against the U.S. dollar, India’s central bank is widely expected to hike interest rates this week to shore up the currency. The rupee has been the worst-performing Asian currency this...