U.S. stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check. The S&P 500 closed the wild session down 1.3% to 3,768.47 after dropping 2.5% at its session low. The Dow […]
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Here’s why inflation is kryptonite for bonds as Powell’s comments rock markets
The bond market sold off Thursday when Federal Reserve Chairman Jerome Powell expressed little worry about inflation and provided no indication of policy changes ahead. In an exchange with The Wall Street Journal, the central bank leader acknowledged that an economy recuperating from the depths of the Covid-19 pandemic could […]
Employers likely added more jobs in February, but economists say there’s no bounce back yet
A worker wearing a protective mask boxes a pizza inside a Costco store in San Francisco, California, on Wednesday, March 3, 2021. David Paul Morris | Bloomberg | Getty Images Hiring likely improved in February as more of the economy reopened, but winter weather could have hampered some activity. Economists […]
Senate takes first step toward passing $1.9 trillion Covid relief bill — here’s what happens next
Senate Majority Leader Chuck Schumer, a Democrat from New York, wears a protective mask while arriving to the U.S. Capitol in Washington, D.C., U.S., on Thursday, March 4, 2021. Stefani Reynolds | Bloomberg | Getty Images The Senate took its first major step Thursday toward passing Democrats’ $1.9 trillion coronavirus […]
Mark Cuban: Crazy NFT prices ‘will settle down’ over time, but the tech is here to stay
Billionaire investor Mark Cuban has been at the forefront of the wave of interest in blockchain technology, smart contracts and NFTs, or non-fungible tokens. It’s “like the early days of all new tech, the excitement sometimes creates some unique situations,” Cuban tells CNBC Make It. Recently, NFT-based art in particular […]
Dow drops 500 points after Powell triggers a jump in yields, S&P 500 and Nasdaq go red on year
U.S. stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check. The S&P 500 last traded down 2.5%, wiping out earlier gains, while the Dow Jones Industrial Average slid 560 points. […]
10-year Treasury yield jumps back above 1.5% after Powell comments on inflation
The 10-year U.S. Treasury yield climbed back above the 1.5% level on Thursday after Fed Chair Jerome Powell said there was potential for a temporary jump in inflation and that he had noticed the recent rise in yields. The yield on the benchmark 10-year Treasury note rose to 1.526% shortly […]
Somebody hijacked Salesforce’s LinkedIn account and posted support for Black Lives Matter
Marc Benioff, co-founder and chief executive officer of Salesforce.com Inc., speaks during the WSJDLive Global Technology Conference in Laguna Beach, California, U.S., on Wednesday, Oct. 26, 2016. The conference brings together an unmatched group of top CEOs, founders, pioneers, investors and luminaries to explore tech opportunities emerging around the world. […]
Stocks fall into the red after Powell inflation comments trigger yield jump
U.S. stocks fell in volatile session Thursday, headed for a third straight losing day after Federal Reserve Chair Jerome Powell’s comments on inflation sparked a jump in bond yields. The S&P 500 last traded down 0.3%, wiping out earlier gains, while the Dow Jones Industrial Average dipped 90 points. The […]
Amazon wants to be the exclusive provider of all Thursday NFL games starting in 2023
Jeff Bezos, founder of Amazon Katherine Taylor | Reuters Amazon wants to be the National Football League’s exclusive producer of Thursday games starting in 2023, but the NFL may decide to keep certain games on the NFL Network and take less money from Amazon, according to people familiar with the […]