Personal income soared by 10% from December 2020 to January 2021 thanks in large part to government stimulus benefits, according to a new analysis from the U.S. Bureau of Economic Analysis (BEA). The December 2020 Covid-19 relief bill provided $600 stimulus payments for many individuals and extended key federal unemployment […]
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Bet on these stocks to outperform as bond yields surge, top investor says
A surging bond market triggered a stock sell-off on Wall Street this week. The 10-year Treasury note briefly crossed above 1.6% on Thursday, its highest level in more than a year. It traded at just under 1.5% on Friday. “The yield curve has steepened so you want to own banks,” […]
Democrats vow to penalize big corporations that don’t pay $15 minimum wage
Senator Bernie Sanders (I-V.T.), Chairman of the Budget Committee, speaks during a U.S. Senate Budget Committee hearing regarding wages at large corporations on Capitol Hill in Washington, February 25, 2021. Stefani Reynolds | Reuters Top Democrats are drafting new plans that would penalize big corporations that pay their employees less […]
The $15 minimum wage is in trouble. Here’s what you need to know
A Feb. 18 rally celebrating the California Labor Commissioner’s order for a McDonald’s franchise to rehire and compensate workers who went on strike for coronavirus protections was held on Feb. 18, 2021. Lucy Nicholson | Reuters The fight for a $15 federal minimum wage just hit a major roadblock. On […]
Stocks making the biggest moves midday: Etsy, Virgin Galactic, Foot Locker & more
Etsy CEO Chad Dickerson and others celebrate their IPO at the Nasdaq exchange, April 16, 2015. Getty Images Check out the companies making headlines in midday trading. Etsy — Shares of the e-commerce company popped nearly 13% on Friday after beating on the top and bottom lines of its quarterly […]
Nasdaq rebounds from worst sell-off since October, Dow falls 100 points
Traders on the floor of the New York Stock Exchange. Source: The New York Stock Exchange Tech stocks lifted the broader market higher in volatile trading on Friday, rebounding from steep losses after a key inflation gauge showed tame price pressures. The Nasdaq Composite jumped 1.7% as Apple, Facebook and […]
GOP warns Biden against relying on party-line vote for big bills, but Democrats are wary of obstruction
During his first year in office, President Barack Obama enjoyed a congressional “supermajority”: Wide enough margins of power in both chambers of Congress that allowed agenda items to pass without Republican support. But when Republican Scott Brown won a special election to fill the seat of the late Democratic Sen. […]
Art Cashin expects more stock pain as traders worry about Fed losing control of bond market
Longtime trader Art Cashin told CNBC on Friday that investors should brace themselves for a period of stock market volatility as Wall Street digests rising bond yields. “You have to be very careful. There is a fine line. If the market begins to believe that the Fed has somehow lost […]
S&P 500 falls as market struggles to rebound from steep losses amid rising rates
Traders on the floor of the New York Stock Exchange. Source: The New York Stock Exchange U.S. stocks swung wildly with tech names bouncing between losses and gains on Friday as Wall Street struggled to shake off fears of rapidly rising rates. The Nasdaq Composite erased a 1.5% gain and […]
Senators call to expand Covid aid plan designed to keep employees on the payroll
Senate Minority Leader Charles Schumer (D-NY) (L) and Senate Majority Leader Mitch McConnell (R-KY) walk side-by-side to the Senate Chamber at the U.S. Capitol February 7, 2018 in Washington, DC. Chip Somodevilla | Getty Images A bipartisan group of senators is urging Senate leaders to expand a key economic relief […]