A top Wall Street economist is lowering his recession forecast. But Barclays’ Michael Gapen warns it’s too early to give the U.S. economy the all-clear. “We do need to get over some of these hurdles that are a problem for business-sector spending of which is both U.S.-China trade concerns as well as things like Brexit
Finance
Consumer sentiment unexpectedly rose in November, according to data released Friday by the University of Michigan. The university’s index of consumer sentiment climbed to 96.8 from 95.5 last month. Economists polled by Dow Jones expected consumer sentiment to dip to 94.9 for November. An index reflecting consumer expectations moving forward also rose to 87.3 from
Nathalie Salman | Getty Images Goldman Sachs strategists expect a “baby bear” market in bonds next year, with a mild move higher in interest rates due to a better economy, subdued global inflation and the lack of central bank policy easing. In a sweeping outlook for 2020, the firm’s strategists say they do not expect
(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) This month has become a sideways “slowvember” slide in recent weeks, with stocks remarkably steady near record highs, as investors are again left to wonder if the tape is resting or rolling
Shoppers pack an aisle during a Black Friday sale at a Target store, Friday, Nov. 23, 2018, in Newport, Ky. John Minchillo | AP (This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, .) As customers gear up for the biggest shopping days
US President Donald Trump shows a letter from Chinese President Xi Jinping as he announces an initial trade deal with China at the Oval Office of the White House in Washington, DC on October 11, 2019. Nicholas Kamm | AFP | Getty Images Here are the most important things to know about Monday before you
Santa Claus waves to the crowd during the Macy’s Thanksgiving Day Parade in New York City. Getty Images It’s Thanksgiving time, and investors’ thoughts turn to holiday shopping and a year end Santa rally in the stock market. Some analysts think both could be pretty good this year. While Black Friday has probably lost some
CHICAGO – NOVEMBER 21: Nordstrom signage is visible at its store November 21, 2003 in Chicago. Nordstrom, Inc. reported net earnings of $45.5 million, or $0.33 per diluted share, for the third quarter of 2003, which ended November 1, 2003. For the same period last year, net earnings and earnings per diluted share were $18.4
Win McNamee | Getty Images BEIJING — The close economic and financial ties between the U.S. and China create potentially greater risks for America’s global clout if the two countries separate further. “We are still in the foothills of a Cold War,” Henry Kissinger, former U.S. Secretary of State, said Thursday at Bloomberg’s New Economy
Janet Yellen Scott Mlyn | CNBC NEW YORK — Pronounced wealth inequality that has built up for decades poses a major threat to a U.S. economy that is in otherwise “excellent” shape, former Federal Reserve Chair Janet Yellen said Thursday. The central bank leader from 2014-18 also said the U.S.-China tariff war is having a
Pedestrians walk outside an E*Trade Financial office in New York. Daniel Acker | Bloomberg | Getty Images Retail broker E-Trade appears to have just lost the most recent battle in the brokerage wars. E-Trade shares fell more than 8% on Thursday after sources told CNBC that brokerage giant Charles Schwab is in talks to buy
Moody’s has downgraded its outlook for German banks to “negative” from “stable” as profitability and overall creditworthiness weaken in a low interest rate environment. In a report published Thursday, the ratings giant said the already weak profitability of German banks will decline further over the next 12 to 18 months as net interest income falls.
Brent Lewin | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Tiffany & Co. jumped 4% during extended trading after a Reuters report that French luxury goods maker LVMH raised its bid from $120 per share to approximately $130 per share, according to people familiar with the matter.
A shopper is seen in a Target store in the Brooklyn borough of New York. Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Target — Target shares surged more than 11% to an all-time high on the back of quarterly numbers that beat expectations. The retailer posted a profit of
Robinhood co-founder and co-CEO Vlad Tenev speaks onstage during the TechCrunch Disrupt New York event on May 10, 2016. Noam Galai | Getty Images for TechCrunch Financial technology start-up Robinhood is gearing up to launch its commission-free stock trading app in the U.K. The Menlo Park, California-based firm said Wednesday that it was opening a
A shopper exits an Urban Outfitters store in New York. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Urban Outfitters tanked more than 15% during extended trading after the retailer reported a third-quarter earnings miss on the top and bottom line. The company posted earnings
Traders wear “DOW 28,000” hats on the floor of the New York Stock Exchange (NYSE) on November 15, 2019 in New York City. As trade talks with China show some progress, the Dow Jones Industrial Average rose 222 points to close above 28, 000 for a new record. Spencer Platt | Getty Images Negative trade
Interest rates are on hold for now — Federal Reserve officials have indicated as much and the market believes it — but the state of affairs could be fleeting amid an ever-changing set of economic conditions. Pretty much everyone is convinced the Fed is finished for 2019, a year in which it cut its benchmark
Traders work at the Coty booth on the floor of the New York Stock Exchange. Jin Lee | Bloomberg | Getty Images Check out the companies making headlines midday Monday: Coty — Shares of the cosmetic company jumped more than 1% after Coty announced it is taking a 51% stake in Kylie Cosmetics, Kylie Jenner’s
Intelsat 35e Source: Intelsat Check out the companies making headlines after the bell: Shares of Intelsat SA slid nearly 2% during extended trading after the Federal Communications Commission announced it will publicly auction off a portion of its C-band spectrum wavelength in place of 5G wireless networks. Intelsat, along with three other satellite operators, provides