Google’s pivot away from bank accounts shows why finance is a tough industry for tech giants
The logo for Google Pay displayed on a phone screen. Jakub Porzycki | NurPhoto via Getty Images At least one tech giant has decided it’s better to serve banks rather than taking them head on. Google is shuttering its bank...
Stocks are at a 70-year high as a share of household financial wealth
Tourists are lined up for taking photos by the Charging Bull Statue in the financial district of New York, on August 16, 2021. Tayfun Coskun | Anadolu Agency | Getty Images Overall U.S. household wealth has never been this high,...
Stocks making the biggest moves midday: Merck, Moderna, United Airlines and more
Check out the companies making headlines in midday trading. Merck — Shares surged 8.4% after it announced its new antiviral pill cut the risk of death or hospitalization by 50% for Covid patients. The pharmaceutical company plans to file for emergency...
Key inflation gauge watched by the Federal Reserve hits another 30-year high
Inflation ran at a fresh 30-year high in August as supply chain disruptions and extraordinarily high demand fueled ongoing price pressures, the Commerce Department reported Friday. The core personal consumption expenditures price index, which excludes food and energy costs and...
A budget is the first step to financial wellness. Here’s how to get started
Taiwanese ethnicity man looking at the home budget and sorting out bills using his laptop in his cozy living room SrdjanPav | E+ | Getty Images If you’re trying to get control of your finances, most financial advisors will start...
Stocks making the biggest moves midday: Bed Bath & Beyond, Kohl’s, CarMax and more
A shopper walks past a Bed Bath & Beyond Inc. store Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Bed Bath & Beyond – Shares of the big-box retailer plunged 22% after the company...
Yellen lends support for effort to remove the debt ceiling altogether
Janet Yellen, U.S. Treasury secretary, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 30, 2021. Sarah Silbiger | Bloomberg | Getty Images With a potential default looming for the U.S. in October, Treasury...
Stock futures are higher after rising rates hit tech stocks
U.S. stock index futures rose during overnight trading on Wednesday, after tech stocks dipped again as investors digest the impact from higher rates. Futures contracts tied to the Dow Jones Industrial Average gained 141 points. S&P 500 futures and Nasdaq...
Mortgage demand falls as rates rise to highest level since July
Real estate agents arrive at a brokers tour showing a house for sale in San Rafael, California. Getty Images Higher interest rates took some recent wind out of the sails in the mortgage market. After gains the previous week, total...
Stocks making the biggest moves premarket: Micron, Eli Lilly, Netflix, Lucid and more
Check out the companies making headlines before the bell: Micron Technology (MU) – Micron reported adjusted quarterly earnings of $2.42 per share, 9 cents above estimates, with the chip maker’s revenue also topping Street forecasts. However, its current-quarter forecast fell...