Flexport CEO Ryan Petersen told CNBC on Friday there’s no single fix to resolve the shipping delays that have disrupted the global economy. That’s because one key reason they are happening — consumers buying more physical products during the Covid pandemic as they spent less on services — will not […]
CNBC News
Cramer’s week ahead: ‘The sell-off probably isn’t done’
CNBC’s Jim Cramer on Friday looked ahead to next week’s key market events, which include public remarks from multiple Federal Reserve officials and earnings reports from Nike and FedEx. The “Mad Money” host’s lookahead came after another down day for Wall Street, with the Dow Jones Industrial Average dropping 533 […]
The Fed will continue to dominate the market in the week ahead after sell-off
Traders on the floor of the New York Stock Exchange. Source: NYSE The Federal Reserve’s signal that it is looking to step away from some of its easy policy is expected to be a dominant trading theme in the week ahead and likely for the rest of the summer. In […]
Just 5% of people who applied for public service loan forgiveness have qualified
Ungureanu Vadim | EyeEm | Getty Images In January, Anna Brekken had finally made 120 student loan payments, the number at which borrowers are supposed to get the rest of their debt canceled under the public service loan forgiveness program. When she submitted her request for forgiveness, she looked forward […]
Shell company hijack: Men used SEC filings, fake press releases for stock pump-and-dump scam, feds say
Three men engaged in a brazen scheme to “surreptitiously hijack” and take over dormant shell companies, whose stock they then fraudulently inflated to dump to unwitting investors, according to charges in an indictment that was unsealed Friday. The men from 2017 through 2019 allegedly used fake resignation letters to seize […]
Biden says delta Covid variant is ‘particularly dangerous’ for young people
President Joe Biden speaks about reaching 300 million COVID-19 vaccination shots, in the State Dining Room of the White House, Friday, June 18, 2021, in Washington. Evan Vucci | AP President Joe Biden on Friday doubled down on his administration’s plea to Americans to get vaccinated against Covid-19 as quickly […]
Golf equipment makers look to buy more factories overseas to meet increased demand, PGA store CEO says
The golf industry is seeing a surge in demand during the pandemic, with PGA Tour Superstore reporting a 55% increase in overall year-to-date sales compared with 2019. Demand is so high that suppliers are struggling to keep up, Dick Sullivan, CEO of PGA Tour Superstore, said on CNBC’s “The Exchange” on […]
Stocks making the biggest moves midday: Nvidia, Lennar, Adobe and more
A sign is posted in front of the NVIDIA headquarters on May 10, 2018 in Santa Clara, California. Justin Sullivan/Getty Images Check out the companies making headlines in midday trading. Nvidia — Shares of Nvidia gained 2.3% midday, then closed 0.21% after Bank of America raised its price target on […]
Dow falls more than 500 points to close out its worst week since October
Stocks fell on Friday, with the Dow Jones Industrial Average posting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected. Economic comeback plays led the market sell-off. The blue-chip average dropped 413 points, bringing its week-to-date losses to 3.1%. The […]
Peter Thiel-backed psychedelic start-up’s shares pop in Wall Street debut
Shares of the Peter Thiel-backed psychedelic start-up Atai Life Sciences jumped Friday on its first day of trading on Wall Street. The newly listed Nasdaq stock opened up 40% before pulling back some. The German biotech’s initial public offering was priced Thursday night at $15 per share, the high end […]