Russia’s Putin says crypto has ‘value’ — but maybe not for trading oil
Russian President Vladimir Putin delivers a speech during the Russian Energy Week event on October 13, 2021 in Moscow, Russia. Mikhail Svetlov | Getty Images Russian President Vladimir Putin thinks cryptocurrencies have value — but he’s not convinced they can...
Fed says it could begin ‘gradual tapering process’ by mid-November
Federal Reserve officials could begin reducing the extraordinary help they’ve been providing to the economy by as soon as mid-November, according to minutes from the central bank’s September meeting released Wednesday. The meeting summary indicated that members feel the Fed...
Consumer prices rise more than expected as energy costs surge
Consumer prices increased slightly more than expected in September as food and energy price rises offset declines in used cars, the Labor Department reported Wednesday. The consumer price index for all items rose 0.4% for the month, compared with the...
Weekly mortgage demand stalls, as rates jump to highest level since June
Prospective homebuyers view a kitchen while touring a house for sale in Helotes, Texas. Matthew Busch | Bloomberg | Getty Images Mortgage rates continued their trudge higher last week, leaving most homeowners with little to no incentive to refinance. Homebuyers,...
Fed’s Bullard says bond purchases should be tapered quickly in case rate hikes are needed
St. Louis Federal Reserve President James Bullard advocated Tuesday for the central bank to be aggressive as it starts winding down its monthly bond-buying program in case inflation becomes a larger problem. In a CNBC interview, the Fed official said...
A record 4.3 million workers quit their jobs in August, led by food and retail industries
Workers left their jobs at a record pace in August, with bar and restaurant employees as well as retail staff quitting in droves, the Labor Department reported Tuesday. Quits hit a new series high going back to December 2000, as...
Market is about to see the strongest earnings season of year, history shows
Earnings may give stocks a major boost starting this week. Ally Invest’s Lindsey Bell finds the third quarter is undeniably the most powerful earnings season for Wall Street. “We’re starting to think about the end of the year into next...
JPMorgan’s Dimon says supply-chain hiccups will soon ease, points to extraordinary consumer demand
JP Morgan CEO Jamie Dimon gives a speech during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler| AFP | Getty Images Global supply-chain hiccups caused by the coronavirus...
Stock futures edge lower to start the week
Traders work the floor of the New York Stock Exchange. NYSE Stock futures edged lower Sunday night after finishing near the flat line Friday after investors shook off concerns about a much weaker-than-expected labor market report released on Friday. Dow...
Strong wage gains cast doubt that inflation is going away anytime soon
September’s wage gains provided more fuel to the argument that the current pace of inflation could run longer than many economists anticipate. Average hourly earnings rose 0.6% for the month, making the year-over-year increase 4.6%. Over the past six months,...