Check out the companies making headlines before the bell: Coinbase — Crypto-related assets surged after Bitcoin topped $40,000 for the first time this year. Coinbase jumped 7%, MicroStrategy gained 7% and Marathon Digital climbed 13%. Uber Technologies — The ride-hailing stock rose 4% after S & P Dow Jones Indices on Friday said it will …
US GDP Skyrockets to 4.9% and Jobless Claims Soar to 210,000 The US Gross Domestic Product (GDP) surged to an impressive 4.9% annualized rate, exceeding all expectations and more than doubling the pace set in the previous quarter, according to a Bloomberg report. The strong economic performance is fueling speculation about how the US economy …
The stock market experienced a turnaround following comments from Fed Chair Jerome Powell on interest rate policy, coupled with strong earnings reports from Ulta Beauty (ULTA) and other major stock moves. At midday, indexes shifted upwards after Powell’s discussion during a fireside chat at Spelman College in Atlanta. Powell stated that job creation in the …
Federal Reserve Chairman Jerome Powell on Friday downplayed aggressive interest rate cuts, hailing their premature declarations as confounding, adding it’s too soon to speculate when policy might ease. Powell in his speech said that the current inflation levels are still “well above” the central bank’s goal, refuting any notion of a sufficiently restrictive stance achieved. …
Former U.S. President Donald Trump’s ex-chief economic advisor, Gary Cohn, predicts that the Fed will not cut interest rates until the second half of 2024. Cohn emphasized that the U.S. economy is “back to normal,” but people have forgotten what normal feels like, based on 100-year average data. Gary Cohn, vice chairman of International Business …
Nationwide job market showing signs of a shift in power balance between workers and employers Union strikes from Detroit to Hollywood have proved the power of workers and changed the tide after decades of a weakened labor movement. However, the nationwide job market is showing signs that the post-pandemic era of worker control over wage …
President Joe Biden’s performance among small business owners has taken a nosedive, with the quarterly CNBC/SurveyMonkey Small Business Survey revealing a fresh low in his approval. The economy’s small business confidence, however, is showing a slight rebound in the fourth quarter. At the heart of this is a clear divide in economic perception between Republicans …
Dow Jones futures saw a modest rise early Wednesday, alongside S&P 500 futures and Nasdaq futures, after Nvidia (NVDA) reported huge earnings and strong guidance. Key economic data showed mixed. Nvidia stock hovered within a buy zone early Wednesday. Other key AI plays, including Microsoft (MSFT), Advanced Micro Devices (AMD), Google parent Alphabet (GOOGL), Meta …
The OBR’s recent forecasts for inflation and economic growth paint a much more pessimistic picture compared to previous projections in March. The OBR now expects inflation to rise to 2.8% by the end of 2024, a significant increase from the earlier forecast of 0.9%. Additionally, the growth forecasts have been downgraded to 0.6% for this …
Dow Jones futures saw a modest rise early Wednesday, as did S&P 500 and Nasdaq futures after Nvidia (NVDA) reported strong earnings and guidance. Significant economic data will be released. Meanwhile, other AI plays such as Microsoft (MSFT), Advanced Micro Devices (AMD), Alphabet (GOOGL), Meta Platforms (META), Palantir Technologies (PLTR) and Super Micro Computer (SMCI) …