Powell notes economic improvement, but says the pandemic remains a risk
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., U.S., September 23, 2020. Stefani Reynolds | Reuters Federal Reserve Chairman Jerome Powell said in testimony prepared for...
Bitcoin drops as China intensifies crypto mining crackdown
A bitcoin mine near Kongyuxiang, Sichuan, China on August 12, 2016. Paul Ratje | The Washington Post | Getty Images Bitcoin sank Monday on reports that China has intensified its crackdown on cryptocurrency mining. The world’s largest digital currency fell...
Stocks making the biggest moves midday: Nvidia, Lennar, Adobe and more
A sign is posted in front of the NVIDIA headquarters on May 10, 2018 in Santa Clara, California. Justin Sullivan/Getty Images Check out the companies making headlines in midday trading. Nvidia — Shares of Nvidia gained 2.3% midday, then closed...
Goldman Sachs ramps up bitcoin trading in new partnership with Mike Novogratz’s Galaxy Digital
Goldman Sachs’ efforts to help hedge funds and other big institutional clients wager on bitcoin have taken a step forward. The bank has begun trading bitcoin futures with Galaxy Digital, the crypto merchant bank founded by Mike Novogratz, CNBC has...
Fed’s Jim Bullard sees first interest rate hike coming as soon as 2022
St. Louis Federal Reserve President James Bullard told CNBC on Friday that he sees an initial interest rate increase happening in late-2022 as inflation picks up faster than previous forecasts had anticipated. That estimate is even quicker than the outlook...
Inflation breakout will drive 10-year Treasury yields above 2% in coming months, Wells Fargo predicts
Treasury yields may be about to break out. Even though yields temporarily fell after this week’s Federal Reserve decision on interest rates, Wells Fargo Securities’ Michael Schumacher expects the benchmark 10-year Treasury Note rate to end the year as high...
Stocks making the biggest moves in the premarket: Adobe, Smith & Wesson, Orphazyme & more
Take a look at some of the biggest movers in the premarket: Adobe (ADBE) – Adobe reported quarterly profit of $3.03 per share, 21 cents a share above estimates. The software company’s revenue also topped Wall Street forecasts and Adobe...
China’s entertainment industry is set to bounce back from Covid, says Chinese dancer
BEIJING — Chinese dancer and TV host Jin Xing is confident the entertainment industry will return to normal, and that the arts will be more prized post-pandemic. In China, where stringent lockdowns helped control the domestic spread of Covid-19 within...
Mortgage rates shoot higher after Fed Chairman Powell’s comments
The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a reaction to comments made Wednesday by Federal Reserve Chairman...
Jobless claims show surprise increase to highest level in a month
Initial jobless claims unexpectedly rose last week despite an ongoing recovery in the U.S. employment market, the Labor Department reported Thursday. First-time filings for unemployment insurance for the week ended June 12 totaled 412,000, compared with the previous week’s 375,000....
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