The price of bitcoin climbed about 6% Wednesday after the Federal Reserve raised rates by half a point —the biggest hike in about 20 years — as expected. Bitcoin began climbing ahead of the end of the Federal Open Market Committee’s meeting. The half-point hike was widely expected by many. […]
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Consumers at breaking point as Fed’s inflation battle heats up, investor Peter Boockvar warns
The economy may be hitting a crucial turning point. Investor Peter Boockvar warns the Federal Reserve will not be able to meaningfully contain surging inflation, and there’s not much more consumers can withstand. “It gets to the question: At what point does the consumer blink in the face of these […]
Cramer says Wednesday’s relief rally won’t vanquish the bears, expects Fed skeptics to remain
CNBC’s Jim Cramer said Wednesday he’s still “drawn to owning stocks,” even as the Federal Reserve aggressively raises interest rates in such a way that some skeptics believe will send the U.S. economy into a recession. “They probably sold into the rally today. They will sell again tomorrow because this […]
Stock futures fall slightly after Fed induced relief rally
Stock futures fell slightly after the Federal Reserve raised rates by half a point and the major averages rallied to end the day. Futures tied to the Dow Jones Industrial Average lost 46 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures each fell 0.1%. In regular trading, the […]
Biden touts $1.5 trillion budget deficit reduction — but he’s not telling the whole story
President Joe Biden on Wednesday tried to cast his administration as spending hawks, touting sizable reductions in the federal deficit this fiscal year as a key departure from what he characterized as rampant spending by his Republican predecessor. While the Treasury Department estimates that this year’s budget deficit will decline […]
U.S. Secretary of State Blinken tests positive for Covid, has mild symptoms
Secretary of State Antony Blinken testifies during the Senate Appropriations Subcommittee on State, Foreign Operations, and Related Programs hearing on Capitol Hill in Washington, DC, April 27, 2022, to review of the fiscal year 2023 budget request for the US Department of State. Carolyn Kaster | AFP | Getty Images […]
Facebook plans to reduce hiring as revenue growth slows and inflation concerns increase
Facebook co-founder and CEO Mark Zuckerberg testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill October 23, 2019 in Washington, DC. Zuckerberg testified about Facebook’s proposed cryptocurrency Libra, how his company will handle false and misleading information by political leaders during the 2020 […]
Sunrun shares surge after company reports jump in customers, says higher utility prices are fueling solar
Sunrun employee Gonzalo Najera carries a solar panel before installation at a home in Alamo, Calif., May 17, 2021. Scott Strazzante | San Francisco Chronicle | Hearst Newspapers | Getty Images Sunrun shares jumped 11% during extended trading Wednesday after the company posted first-quarter earnings results, including a 39% increase […]
EBay and Etsy drop on weak guidance as e-commerce crunch continues
An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector […]
Eight attorneys general call on Biden to cancel federal student debt for every borrower
New York State Attorney General Letitia James speaks during a “Defend Democracy” rally, taking place on the first anniversary of the January 6, 2021 attack on the U.S. Capitol, in Brooklyn, New York, U.S., January 6, 2022. Brendan McDermid | Reuters Eight attorneys general, including those of New York, Illinois […]