China still holds the cards for global supply chains, whether or not Covid lockdowns frustrate businesses in the near term. An employee works on the production line of the screens for 5G smartphones at a factory on May 13, 2022 in Ganzhou, Jiangxi Province of China. Zhu Haipeng | Visual China Group | Getty Images
Finance
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 13, 2022. Brendan Mcdermid | Reuters U.S. stock index futures were flat during overnight trading on Monday, following a volatile session that saw the S&P 500 and Nasdaq Composite continue their march lower. Futures contracts tied to
Bitcoin fell below the $26,000 level since December 2020. (Photo credit should read CFOTO/Future Publishing via Getty Images) CFOTO | Future Publishing via Getty Images Investors have been eager to find out what happened to the more than $3 billion in bitcoin bought up by crypto firm Terra to back its failed stablecoin. Now, they’ve
The persistent spread of Covid and resulting stay-home orders — primarily in Shanghai — forced factories to close or operate at limited capacity in April. Pictured here on May 12 is a refrigerator factory in Hefei, China, about a five hours’ drive from Shanghai. Xie Chen | Visual China Group | Getty Images BEIJING —
In this article CVNA GM GME Source: NYSE Check out the companies making headlines in midday trading Thursday. Carvana — Shares of the online used-car retailer popped nearly 30%, alongside other heavily shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on
The stock market is going through a period of uncertainty and volatility, but some sectors could benefit from that. Timothy A. Clary | AFP | Getty Images (Click here to subscribe to the Delivering Alpha newsletter.) A wide divergence of performance has formed in the hedge fund industry amid the stock rout on Wall Street this year.
(Click here to subscribe to the Delivering Alpha newsletter.) With $1.5 trillion in assets, Franklin Templeton is among America’s top 10 asset managers, and growing. Over the last few years, the firm has acquired asset manager Legg Mason, custom index provider O’Shaughnessy Asset Management, and secondary private equity investor Lexington Partners, among others. President and CEO Jenny
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority. Powell said he couldn’t promise a so-called soft
Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which
In this article TWTR AFRM HOOD TOST MSTR Check out the companies making headlines before the bell: Twitter (TWTR) – Twitter tumbled 14.6% in premarket trading after Elon Musk tweeted that his deal to buy the company was “temporarily” on hold, as he awaits details on the number of fake and spam accounts on the
In this article TWTR AFRM HOOD Traders work on the floor of the New York Stock Exchange. NYSE Check out the companies making headlines in midday trading. Twitter — Shares of the social media platform slid 8% after Elon Musk said his take-private deal is on hold until he receives more information about how many fake accounts
In this article LUNA.CM= UST.CM= USDT.CM= The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the U.S. dollar, has erased
Stock futures dipped on Thursday evening as investors geared up for the S&P 500 to potentially slide into official bear market territory. Futures tied to the Dow Jones Industrial Average shed 68 points, or 0.2%. S&P 500 futures lost 0.2% and Nasdaq-100 futures fell 0.3%. On Wednesday, the S&P 500 and Dow bounced off their
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising interest rates by a half-percentage point to combat record high inflation. Win Mcnamee | Getty Images As he and his colleagues engage in a
iCreditWorks CEO Scott Young, former chief commercial officer of Goldman Sachs Marcus. Courtesy: Goldman Sachs A Goldman Sachs executive known for securing some of the industry’s biggest credit-card deals in recent years has left to join early stage start-up iCreditWorks, CNBC has learned. Scott Young, who was chief commercial officer of Goldman’s Marcus consumer business,
Stock futures were slightly higher Wednesday evening after the latest CPI data showed inflation is still running hot. Futures tied to the Dow Jones Industrial Average added 17 points, or 0.05. S&P 500 futures inched higher by 0.03%. Nasdaq 100 futures were down by 0.01%. Disney shares fell about 2% after hours despite strong earnings
In this article RIVN BYND BMBL DIS Close-up detail of the Disney+ app icon on an Apple iPhone 12 Pro smartphone screen. Phil Barker | Future Publishing | Getty Images Check out the companies making headlines in extended trading. Walt Disney — Disney shares rose about 1% in extended trading after the company reported stronger-than-expected
In this article COIN RBLX PRGO DNUT WEN Check out the companies making headlines before the bell: Wendy’s (WEN) –Wendy’s reported adjusted profit of 17 cents per share, 1 cent below estimates, with revenue and same-store sales also missing analyst forecasts. The restaurant chain is seeing a negative impact from higher costs for supplies and
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, April 28, 2022. Brendan McDermid | Reuters Stock futures dipped in overnight trading Tuesday ahead of a key inflation reading. Futures on the Dow Jones Industrial Average shed about 35 points, or 0.1%. S&P 500 futures eased 0.1% and
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., U.S, on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller pledged Tuesday that the rate-setting group wouldn’t make the same mistakes on inflation
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