Federal Reserve Chairman Jerome Powell is unlikely to surrender to political pressure and “quit” despite the repeated attacks from President Donald Trump, CNBC’s Jim Cramer said Monday. The president has been treating the central bank like a “pinata,” Cramer said on “Squawk on the Street.” But Powell “ain’t quittin’. … […]
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Fed’s Charles Evans tells CNBC rates can stay unchanged into fall of 2020
Chicago Federal Reserve President Charles Evans said on Monday that he’d be comfortable leaving interest rates alone until autumn 2020 to help ensure healthy inflation in the U.S. “I can see the funds rate being flat and unchanged into the fall of 2020. For me, that’s to help support the […]
Here’s how much money you need to make a year to be in the top 5% in DC
To be a part of the top 5% of earners in an expensive city like Washington, D.C., where taxes and real-estate costs are among the highest in the country, you’ll need to bring in a lot of money. That’s according to financial website GOBankingRates, which used “data from the U.S. […]
Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & more
Check out the companies making headlines before the bell: Goldman Sachs — The investment bank reported quarterly profit of $5.71 per share, beating the consensus estimate of $4.89. Revenue fell short of forecasts, however. Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share. […]
After Chevron’s biggest sell-off in a year, market watcher sees opportunity
Chevron is starting the week fresh on the heels of its worst day in more than a year. The major oil company tumbled 5% on Friday in its biggest one-day drop since February 2018 after announcing a $33 billion deal to buy Anadarko Petroleum. Occidental Petroleum also reportedly is interested […]
Road to approval for US biotech crops in China beset with massive delays, costing industry billions
China’s approval process for biotech crops is beset by regulatory hurdles and delays that have cost U.S. companies billions of dollars and added to challenges for American farmers. Industry groups and members of Congress have been urging the Trump administration to press China to make its regulatory process for approving […]
As Trump pressures Powell, Wall Street gives the Fed a passing grade
As President Donald Trump keeps up his attacks on the Federal Reserve’s policies, Wall Street is cautiously embracing them, giving a passing grade to the Fed’s communication since its shift in January to a “patient” approach on rate hikes. The Federal Reserve Bank of New York surveys the main Wall […]
EU countries back copyright overhaul that threatens to hit YouTube and Facebook
European Union countries approved sweeping reforms to the bloc’s copyright laws on Monday, marking a symbolic end to a political battle that has pitted tech giants against high-profile media figures. The copyright directive was backed by 19 countries at an EU Council vote, with six member states — including Italy […]
Spain’s Socialists are riding high in election polls — but there are plenty of wildcards
Spanish opinion polls are signalling that the Socialist party could win a large share of the vote in a snap election on April 28 – but not enough for it to govern alone. Prime Minister Pedro Sanchez called the snap vote in February after Catalan independence parties withdrew their support […]
Fading fears of a ‘hard landing’ for China’s economy could push stocks higher, strategist predicts
China’s economy appears increasingly set to avoid a “hard landing” and that could help push the country’s stock markets higher for the rest of this year, according to Stefan Hofer, chief investment strategist at LGT Bank. Fears for a slowdown in the world’ s second largest economy swelled in 2018: […]