A man walks near the New York Stock Exchange (NYSE) on August 31, 2020 at Wall Street in New York City. Angela Weiss | AFP | Getty Images Stock futures held steady in overnight trading on Monday following a steep sell-off on Wall Street. Futures on the Dow Jones Industrial Average fell about 10 points.
Finance
A Deutsche Bank AG flag flies outside the company’s office on Wall Street in New York. Mark Kauzlarich | Bloomberg | Getty Images Financial stocks came under pressure on Monday amid a report that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials. Shares of
A pedestrian with a umbrella walks pass a logo of Deutsche Bank in Frankfurt am Main, Germany. Thomas Lohnes | Getty Images SINGAPORE — Germany’s largest lender Deutsche Bank appears to have facilitated more than half of the leaked $2 trillion of suspicious transactions that were flagged to the U.S. government over nearly two decades,
People visit the Charging Bull Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020. Tayfun Coskun | Anadolu Agency | Getty Images U.S. stock futures dipped on Sunday night as the market tried to bounce back from its longest weekly losing streak in about a year. Dow Jones
James Bullard Olivia Michael | CNBC St. Louis Federal Reserve President James Bullard offered an optimistic look on the U.S. economy, with “off the charts” growth that will help lift inflation. Bullard also said he sees the unemployment rate falling to 6.5% by the end of the year, an estimate well below the median projection
CEO of Tesla Motors Elon Musk reacts following the company’s initial public offering at the NASDAQ market in New York June 29, 2010 Brendan McDermid | Reuters Check out the companies making headlines in midday trading. U.S. Steel — U.S. Steel shares popped more than 9% after the company reported a smaller-than-expected loss for its
A member of exchange staff uses a fixed-line telephone while looking at financial data on computer screens on the trading floor of Bats Europe, the European arm of Bats Global Markets Inc., in London, U.K.. Jason Alden/Bloomberg | Bloomberg | Getty Images Trading floors in banks have been immortalized in countless Hollywood movies. Chaotic scenes
Red fire retardant blankets burned residences and vehicles in the aftermath of the Almeda fire in Talent, Oregon, U.S., September 14, 2020. Adrees Latif | Reuters The U.S. is about halfway through the 2020 wildfire season, but historic blazes in California, Oregon and Washington have already decimated millions of acres, destroyed entire communities and caused
Well, that was fast. It took just 12 trading sessions for Apple to plunge more than 20% from its all-time high, shedding over half a trillion in market capitalization. The tech giant has lost 22.5% from its intraday record high of $137.98 from Sept. 2, losing around $536 billion in market value. Apple’s fast and
Check out the companies making headlines in the premarket Friday: Home Depot (HD), Lowe’s (LOW) — An analyst at Oppenheimer downgraded both of the home improvement companies to “perform” from “outperform.” He also lowered his price targets on the two stocks, noting that, near term, “we’re increasingly concerned that the market is becoming too lax toward chances
Money manager Kevin Nicholson expects the stock market to stabilize and rise in early 2021. But the co-chief investment officer of global fixed income at RiverFront Investment Group warns it’ll come at a cost to the jobs market. “Companies are going to right-size their business,’ Nicholson told CNBC’s “Trading Nation” on Thursday. “This is going
The Marriner S. Eccles Federal Reserve building stands behind a fence in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images For the past decade or so, the Federal Reserve has been quite effective in helping to create inflation, just not the kind that it normally targets. The Fed’s perpetually
Bobcat fire approaches Sierra Madre and Arcadia communities in California, U.S., September 13, 2020 in this picture obtained from social media. Photo taken September 13, 2020. John Mirabella | Reuters Despite official resistance to the idea in the Trump administration, the wildfires raging across California, Oregon and Washington — swallowing millions of acres and leaving
Institutional Investor Hall of Famer Richard Bernstein predicts more momentum in stocks closely tied to the economy. He expects more enthusiasm surrounding the state of the recovery will drive more investors away from richly valued mega cap growth names, which include big tech high flyers. “If you’re buying them today at these types of valuations,
LONDON – Grenke, a German financial services provider, is under investigation after a report by a short-selling investor research company alleged it of market manipulation, money laundering and fraud. The 64-page report, which Grenke strongly rejects, was published by Fraser Perring of Viceroy Research. Shares of Grenke, which is listed on the Frankfurt Stock Exchange,
Check out the companies making headlines premarket Wednesday: FedEx (FDX) — FedEx shares popped more than 9% in the premarket on the back of quarterly numbers that beat analysts’ expectations. The shipping giant reported earnings per share of $4.87 on revenue of $19.32 billion. Analysts expected a profit of $2.69 per share on revenue of $17.55
September’s early volatility may be no match for what comes after the presidential election. Wells Fargo Securities’ Michael Schumacher notes volatility is set to jump following the results — not recede. “Normally, you might think that it’s Election Day or Election Day plus one that is super volatile,” the firm’s head of macro strategy told CNBC’s
Federal Reserve Board Chairman Jerome Powell speaks during a press conference following the January 28-29 Federal Open Market Committee meeting, in Washington, DC on January 29, 2020. Mandel Ngan | AFP | Getty Images While committed to keeping interest rates low for the next several years, the Federal Reserve still has plenty of work to
SINGAPORE — One of the biggest challenges that governments will face in the next decade is bringing down debt, a senior minister in Singapore said on Monday. Governments around the world have increased spending to support their economies hit hard by the coronavirus pandemic. Some have to borrow more to do so — which is a
BTIG’s Julian Emanuel warns another deep market pullback is coming despite Monday’s comeback. The firm’s chief equity and derivatives strategist sees evidence in trading activity that retail investors are still over-exposed to the market’s high flyers. “Rather than fear being priced in the options market, there’s fear of missing out. The price of out of