U.S. Housing and Urban Development Secretary Ben Carson testifies during a Senate Banking, Housing, and Urban Affairs Committee hearing on September 10, 2019 in Washington, DC. Zach Gibson | Getty Images The Department of Housing and Urban Development’s internal watchdog cleared Secretary Ben Carson of wrongdoing after investigating a planned purchase of more than $31,000
Finance
andresr | E+ | Getty Images Friday’s August retail sales report is the last big economic report before the Fed begins its two-day meeting Tuesday, and it could be muddied by the Amazon Prime Day promotions that sent July sales sharply higher. Economists expect a gain of just 0.2%, after a much better than expected
Once again President Trump berated the Federal Reserve via Twitter on Wednesday, this time calling for the central bank to immediately cut interest rates to zero. The president said this would offset the effects of the monetary stimulus being pursued by other central banks and allow the federal government to refinance its outstanding debt at
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell on August 15, 2019 in New York City. Drew Angerer | Getty Images Consumer inflation and the outcome of the European Central Bank’s rates meeting could both be market movers Thursday, ahead of the Fed’s meeting
Mark Hurd, CEO of Oracle. Adam Jeffery | CNBC Check out the companies making headlines after the bell: Shares of Oracle dipped as much as 5% during extended trading after the company’s CEO, Mark Hurd, announced a medical leave of absence and $15 billion stock buy back. Founder and Executive Chairman Larry Ellison said in
Goldman Sachs and Bank of America have been added to the growing list of underwriters, sources familiar said, for what will likely be the biggest initial public offering of all time, Saudi Aramco. There will be six global coordinators of the IPO, sources said. The listing is expected to value the world’s most profitable oil
Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California on May 14, 2019. – Global markets remain on red alert over a trade war between the two superpowers China and the US, that most observers warn could shatter global economic growth,
Pedestrians pass in front of a GameStop store in New York Scott Mlyn | CNBC Check out the companies making headlines after the bell: Shares of GameStop plummeted more than 16% after the company cut its forecast and reported second quarter earnings that fell short of expectations. The company said it expects adjusted full-year earnings per share
Wilmington Trust’s Luke Tilley is worried a bearish trend in the employment numbers will hurt the economy’s strongest part: consumers. According to the firm’s chief economist, the U.S. is seeing its lowest year-over-year jobs growth since 2011, which was just two years into the economic recovery. “Things are slowing down,” he told CNBC’s “Trading Nation”
Traders work on the floor at the New York Stock Exchange. Eduardo Munoz | Reuters The stock market is itching to make new highs, and it may soon, as long as progress continues to appear to be made on the trade war front. Technical market analysts, who watch stock charts, see an opportunity for stocks
An employee hands a customer their order at the drive-thru window of a Wendy’s restaurant in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines after the bell: Wendy’s shares fell about 4% after the company slashed its 2019 forecast as it announced plans to roll out breakfast nationwide
The chicken in Popeye’s sandwich crunches audibly when you bite in, with all those nooks and crannies on the surface shattering into a thousand delicious pieces. Nick Kindelsperger | Tribune News Service | Getty Images No wonder Popeyes ran out of its new chicken sandwich. An analyst at KeyBanc Capital Markets estimates the fast-food chicken
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Jason Alden | Bloomberg | Getty Images Somewhere, Jamie Dimon is smiling. J.P. Morgan Chase is close to winning the lead advisory role for the initial public offering of Saudi Aramco, the world’s most profitable corporation, edging out rivals for the plum assignment, according to
Wilmington Trust’s Meghan Shue warns snap decisions during market volatility spikes will trap investors in losing trades. According to the firm’s senior investment strategist, reacting to every U.S.-China trade war development and taking on large positions are two of the worst things they can do right now. “For long-term investors, to chase those headlines risks
Traders on the floor of the New York Stock Exchange. Brendan McDermid | Reuters As bond yields plunge to historic lows, investors craving for steady income are turning to dividend-focused funds. But beware — not all dividend exchange-traded funds are created equal. There are hundreds of ETFs that currently offer much higher payouts than the
Bespoke Investment’s Paul Hickey believes a market hot streak is unfolding. The independent market researcher is building his bullish case by zeroing in on the Citi Economic Surprise Index, which is built to measure optimism in the economy. In the week ending Friday, the index flipped into positive after spending more than 100 days in
Masayoshi Son, chairman and chief executive officer of SoftBank Group at the SoftBank World 2018 event in Tokyo, Japan. Kiyoshi Ota | Bloomberg | Getty Images SoftBank is learning the biggest obstacle to success for its $100 billion Vision Fund are the public markets. That’s where founder and CEO Masayoshi Son’s long-term ambitions are colliding
Federal Reserve Chairman Jerome Powell said Friday the central bank’s pivot this year to lower interest rates has helped sustain U.S. economic growth. Speaking during a forum in Zurich, the central bank leader gave mostly positive reviews to where the U.S. stands now, even while much of the rest of the world weakens. “The Fed
People recover items from a beached boat after Hurricane Dorian September 5, 2019, in Marsh Harbor, Great Abaco. Brendan Smialowski | AFP | Getty Images Damage from Hurricane Dorian in the Caribbean could reach up to $3 billion, a risk firm estimated on Friday. Insurance losses from Hurricane Dorian’s impact on the Caribbean will range
Stocks will look to build on their strong recent momentum and reclaim their record highs next week amid a slew of economic data while trade war fears decrease. The S&P 500 is about 2% from an intraday record reached on July 26 after notching back-to-back weekly gains. The broad index is up 1.8% this past