Finance

With the pandemic boosting demand for alternative assets, JPMorgan’s Joyce Chang is seeing a new dynamic unfolding in the cryptocurrency space: a battle between banks and fintech. “Fintech is coming into the mainstream from this pandemic as there has really been demand for digital services — less in person transactions,” the firm’s chair of global

Alex Wong | Getty Images News | Getty Images Democrats are rushing to pass a $1.9 trillion pandemic aid bill by next week and get it to President Joe Biden in time to prevent a gap in unemployment benefits. It’s perhaps too late to stop that from happening, according to some experts. “The unfortunate reality

Take a look at some of the biggest movers in the premarket: IMAX (IMAX) – IMAX lost 21 cents per share, one cent a share more than analysts had anticipated. The movie theater operator’s revenue came in above Wall Street estimates. Sales were helped by stronger performances in Asian markets, and the company is anticipating

A logo of a Virgin Galactic is seen outside the building during the company’s first day of trading on the New York Stock Exchange (NYSE) on October 28, 2019 in New York City. JOHANNES EISELE | AFP | Getty Images Check out the companies making headlines in midday trading. Virgin Galactic – The space company’s shares

LONDON — Special purpose acquisition companies, or SPACs, are showing signs of “froth” in the U.S. — and that doesn’t bode well for investors, the boss of London’s stock exchange warned Friday.  “There has been some recognition of the froth in the U.S. market,” London Stock Exchange Group (LSEG) CEO David Schwimmer told CNBC’s “Squawk

BEIJING — Chinese Premier Li Keqiang announced Friday the world’s second-largest economy would target growth of over 6% for 2021. The Chinese government kicked off its “Two Sessions” annual parliamentary meeting this week for approving national priorities for 2021. This year’s gathering will last just about a week. The political advisory body, the Chinese People’s

A shopper wearing a protective mask checks out at a Costco store in San Francisco, California, on Wednesday, March 3, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell on Thursday: Costco – Costco shares fell 1.3% after the company posted mixed fiscal second-quarter results. Costco

Take a look at some of the biggest movers in the premarket: Okta (OKTA) – Okta tanked 10.5% in premarket trading after announcing it is buying customer management software provider Auth0 for $6.5 billion in stock. The provider of identity management software also reported quarterly earnings of 6 cents per share, compared to consensus forecasts

One top strategist is calling the tech slump a major buying opportunity. According to Oppenheimer Asset Management’s John Stoltzfus, the group will rebound because it plays a key role in the economy’s reopening. He cites the critical support tech companies provide to consumers and every sector of corporate America. “We see the rollover in the

Shoppers enter a Michaels store in Miami, Florida. Scott McIntyre | Bloomberg | Getty Images Check out the companies making headlines in midday trading.  Rocket Companies – The online mortgage provider’s stock dropped close to 20% after a surprise rally in the previous session as analysts urged caution in the heightened speculative trading in the

Britain’s Chancellor of the Exchequer Rishi Sunak takes part in a national “clap for carers” to show thanks for the work of Britain’s National Health Service (NHS) workers and frontline medical staff around the country as they battle with the coronavirus pandemic, on the steps of the Foreign and Commonwealth Office (FCO) on April 16,

An electric vehicle charging station is seen at Nio’s headquarters on Jan. 31, 2021 in Hefei, Anhui Province of China. Ruan Xuefeng | Visual China Group | Getty Images BEIJING — Chinese consumers thinking about whether to buy Tesla‘s electric cars or local alternatives have two things at the top of their minds: price and

Gary Gensler, President Joe Biden’s pick to lead the Securities and Exchange Commission, said he would hope to oversee cryptocurrency regulation, the “gamification” of equity trading and board diversity if confirmed to lead Wall Street’s chief regulator. Gensler, who testified before the Senate Banking Committee on Tuesday, was grilled on whether he would scrutinize payment

People line up to receive free food donations Nov. 19, 2020 outside the St. Charles Borromeo Church in New York. Robert Nickelsberg | Getty Images News | Getty Images It’s been almost a year since the pandemic upended the labor market and hurtled millions into unemployment. Normally, that demarcation line would spell trouble: States re-calibrate

The major indexes may be kicking off the month in rally mode, but PNC Financial’s Amanda Agati sees trouble under the hood. She believes the rotation into economically sensitive market groups from stay-at-home plays is overdone. “The value side of the equation — that ‘go outside’ trade — has really moved way too far and

Joggers pass the Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images While the Federal Reserve may not raise its benchmark interest rate for years, there are growing expectations it may tweak policy soon to address some of the recent tumult in the

A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters This is breaking news. Check back for updates. Activist investor Jeff Ubben will join Exxon Mobil’s board of directors, sources told CNBC’s David Faber. Mike Angelakis, the chairman and chief executive officer of Atairos and former CFO of Comcast, is also

A medical worker takes care of a newborn baby lying inside an incubator at Jingzhou Maternity & Child Healthcare Hospital on the eve of Chinese New Year, the Year of the Ox, on Feb. 11, 2021 in Jingzhou, Hubei Province of China. Huang Zhigang | Visual China Group | Getty Images BEIJING — China’s decades-old

People wearing face masks crossing a street at Hong Kong’s Wan Chai district on Feb. 16, 2021. Zhang Wei | China News Service | Getty Images Hong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.

Warren Buffett Gerard Miller | CNBC Warren Buffett, the 90-year-old “Oracle of Omaha,” remains a firm believer in the American dream, saying in his closely watched annual shareholder letter to “never bet against America.” “In its brief 232 years of existence … there has been no incubator for unleashing human potential like America,” the chairman