CEO outlook dims sharply, with more than half expecting a recession ahead, survey shows
Corporate executives are taking a dim view of their prospects, with a majority now expecting a recession ahead, according to a closely watched business survey released Wednesday. The Conference Board measure of CEO sentiment showed that 57% of respondents expect...
Households are now spending an estimated $5,000 a year on gasoline
A woman rides an electric bike past a gas station as current gasoline prices continues to climb close to record setting territory in Encinitas, California, May 9, 2022. Mike Blake | Reuters U.S. households are now spending the equivalent of...
Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll
Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.
Powell says the Fed will not hesitate to keep raising rates until inflation comes down
Jerome Powell, chairman of the U.S. Federal Reserve, arrives for a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 15, 2021. Al Drago | Bloomberg | Getty Images Federal Reserve Chair Jerome Powell emphasized his resolve to get...
Stock futures are little changed ahead of key inflation reading
Stock futures were little changed in overnight trading Tuesday ahead of a key inflation reading. Futures on the Dow Jones Industrial Average shed about 15 points. S&P 500 futures were marginally lower and Nasdaq 100 futures were near flat. The...
From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting business
Factories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site. Pictured here is an auto parts manufacturer in Suzhou that has had 478 employees on site since April 16. CFOTO | Future Publishing | Getty...
Fears of a Fed mistake grow as this week’s anticipated interest rate hike looms
Jerome Powell, Chairman of the U.S. Federal Reserve, attends the National Association of Business Economicseconomic policy conference in Washington, D.C, United States on March 21, 2022. Yasin Ozturk | Anadolu Agency | Getty Images The Federal Reserve is tasked with...
The Federal Reserve’s fight with inflation could cool the hot labor market, risking stagflation
The Federal Reserve is hiking interest rates in an effort to defuse an explosive year of price inflation. But global forces could neutralize the effects of that tightening of monetary policy, and keep inflation high. Some observers believe the U.S....
Warren Buffett rips Wall Street for turning the stock market into ‘a gambling parlor’
Berkshire Hathaway CEO Warren Buffett lambasted Wall Street for encouraging speculative behavior in the stock market, effectively turning it into a “gambling parlor.” Buffett, 91, spoke at length during his annual shareholder meeting Saturday about one of his favorite targets...
Nasdaq futures rise as market attempts comeback from April sell-off, Meta shares soar
Stock futures rose in overnight trading as the market shook off the April sell-off and investors reacted positively to earnings from Meta Platforms. Futures on the Dow Jones Industrial Average added 70 points or 0.2%. S&P 500 futures gained 0.7%...
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