Stocks making the biggest moves premarket: Constellation Brands, Palantir, Norwegian Cruise and others
Check out the companies making headlines before the bell: Constellation Brands (STZ) – The maker of beer and wine reported adjusted quarterly earnings of $2.38 per share, missing the $2.77 consensus estimate, although revenue did beat Wall Street forecasts and...
As mortgage rates shoot even higher, refinance demand plummets 10%
A sharp jump in mortgage interest rates over the past few weeks is taking its toll on mortgage demand. Total application volume fell nearly 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted...
Turbulent market is fueling a never-before-seen trend between energy and S&P 500, Bespoke’s Paul Hickey finds
An unprecedented trend appears to be underway between the booming energy sector and the turbulent stock market. Over the past ten trading days, the Bespoke Investment Group’s Paul Hickey finds energy has never performed this well while the S&P 500...
Fed’s Evans sees inflation falling below central bank’s 2% target after current rise subsides
The current spate of inflation won’t last and ultimately will fall below the Federal Reserve’s target, Chicago Fed President Charles Evans said Tuesday. While inflation by some measures is running at a 30-year high, Evans told CNBC the supply chain...
U.S. faces a recession if Congress doesn’t address the debt limit within 2 weeks, Yellen says
Treasury Secretary Janet Yellen on Tuesday said she believes the economy would fall into a recession if Congress fails to address the federal government’s borrowing limit before an unprecedented default on the U.S. debt. “I do regard Oct. 18 as...
Yellen sees inflation staying higher for the next several months
Treasury Secretary Janet Yellen cautioned Tuesday that inflationary pressures hitting the U.S. economy could last for a while. Coming less than a week after Federal Reserve Chairman Jerome Powell called inflation “frustrating,” Yellen told CNBC that the various issues that...
Stock futures muted after a tech-driven sell-off on Wall Street
Stock futures were muted in overnight trading on Monday following a tech-led sell-off as investors continued to dump high-flying shares in the face of rising rates. Futures on the Dow Jones Industrial Average slipped 30 points. S&P 500 futures were...
Stocks making the biggest moves midday: Facebook, Ford, General Motors and more
Facebook’s logo displayed on a phone screen. Jakub Porzycki | NurPhoto via Getty Images Check out the companies making headlines in midday trading. Facebook — Facebook shares fell 5.5% after a company whistleblower unveiled her identify and accused the social...
Stock futures flat heading into first full week of trading in October
Traders work on the floor of the New York Stock Exchange (NYSE) on September 30, 2021 in New York City. Spencer Platt | Getty Images U.S. stock futures were little changed in overnight trading on Sunday as investors readied for...
How Biden’s $3.5 trillion economic plan compares to LBJ’s Great Society and FDR’s New Deal
Anna Moneymaker | Getty Images News | Getty Images President Joe Biden’s $3.5 trillion economic agenda — and the social spending it would usher in — has few parallels in modern U.S. history. The New Deal era of the 1930s...