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....
JPMorgan is buying UK robo-advisor Nutmeg to boost overseas retail banking expansion
Sign for J.P. Morgan on 7th March 2020 in London, United Kingdom. JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York. Mike Kemp | Getty Images LONDON — JPMorgan Chase...
The Fed moves up its timeline for rate hikes as inflation rises
The Federal Reserve on Wednesday considerably raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates. However, the central bank gave no indication as to when it will begin...
U.S. stock futures dip slightly after Fed forecasts rate hikes in 2023
Traders work on the floor of the New York Stock Exchange. NYSE Stock futures dipped slightly in overnight trading after the Federal Reserve raised inflation expectations and forecast rate hikes as early as 2023. Futures on the Dow Jones Industrial...
The Federal Reserve now forecasts at least two rate hikes by the end of 2023
The Federal Reserve now sees at least two interest rate hikes in 2023, according to the central bank’s so-called dot plot of projections. Wednesday’s forecast showed 13 members of the Federal Open Market Committee believe the Fed will increase rates...
The markets are on edge before the Federal Reserve’s policy update in the face of surging inflation
The Federal Reserve is not expected to take any policy actions after its two-day meeting this week, but it is likely to signal that it is thinking about them. Stock futures were flat on Wednesday morning as investors awaited the...