Federal Reserve holds interest rates steady, says tapering of bond buying coming ‘soon’
The Federal Reserve on Wednesday held benchmark interest rates near zero but indicated that rate hikes could be coming sooner than expected, and it significantly cut its economic outlook for this year. Along with those largely expected moves, officials on...
Stocks making the biggest moves premarket: Darden Restaurants, BlackBerry, Salesforce and others
Check out the companies making headlines before the bell: Darden Restaurants (DRI) — The Olive Garden parent reported earnings of $1.76 per share, higher than the $1.64-per-share forecast. The restaurant company also reported same-store sales that rose 47.5%, topping estimates....
Stock futures are flat after Dow, S&P snap 4-day losing streak following Fed decision
U.S. stock index futures were little changed during overnight trading on Wednesday after the Federal Reserve kept benchmark interest rates unchanged, while indicating no immediate intention of removing stimulus policies. Futures contracts tied to the Dow Jones Industrial Average gained...
Existing home sales fall 2% as first-time buyers are priced out
Sales of previously owned homes declined 2% in August from July to a seasonally adjusted annualized rate of 5.88 million units, according to the National Association of Realtors. Sales were 1.5% lower than August 2020 for the first annual decline...
Jamie Dimon warns it’s possible the Fed could be forced into a sharp move next year
JP Morgan CEO Jamie Dimon looks on during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon has warned investors that the...
Stronger mortgage demand points to September surge in home sales
A sales center sign in front of a new residential community in Lithonia, Georgia, April 26, 2021. Elijah Nouvelage | Bloomberg | Getty Images After a Labor Day week lull, demand for mortgages rose sharply last week from homeowners and...
Here’s why the Evergrande crisis is not China’s ‘Lehman moment’
The Evergrande headquarters is seen in Shenzhen, southeastern China on September 14, 2021, as the Chinese property giant said it is facing “unprecedented difficulties” but denied rumours that it is about to go under. Noel Celis | AFP | Getty...
The Fed will try to soothe markets Wednesday, while preparing investors for end to bond buying
After Monday’s market turbulence, the Federal Reserve’s challenge will be to sound reassuring while acknowledging it’s preparing to make its first major step away from the easy policies it put in place to fight the pandemic. The Fed will release...
Stocks making the biggest moves midday: Uber, DraftKings, Seagen, Activision Blizzard and more
Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019. Philip Pacheco | AFP via Getty Images Check out the companies making headlines in midday trading. Uber — The ride-hailing giant saw...
Fintech firm Wise launches feature that lets users spend money invested in stocks
The Wise logo displayed on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images LONDON — British financial technology firm Wise debuted an investments feature Tuesday that lets users invest in stocks through multiple currencies and...
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