Jobs report expected to run hot and that could lead to aggressive Fed

People walk into a store along a busy shopping street in Manhattan on December 10, 2021 in New York City. Spencer Platt | Getty Images Job growth in August likely slowed from July’s frenzied pace, but it is still expected to have been quite strong, with broad-based hiring across many sectors. Monthly jobs data is … Read more

Fed rate hikes won’t curb inflation if spending stays high, paper says

John C. Williams, president and chief executive officer of the Federal Reserve Bank of New York, Lael Brainard, vice chair of the Board of Governors of the Federal Reserve, and Jerome Powell, chair of the Federal Reserve, walk in Teton National Park where financial leaders from around the world gathered for the Jackson Hole Economic … Read more

Sony raises price of PlayStation 5 console due to soaring inflation

Sony raises price of PlayStation 5 console due to soaring inflation

In this photo illustration a PlayStation 5 logo seen displayed on a smartphone. Mateusz Slodkowski | SOPA Images | Light Rocket via Getty Images Sony on Thursday raised the recommended retail price of its PlayStation 5 games console in several international markets citing the global economic environment, including high inflation. The Japanese gaming giant said … Read more

The US economy didn’t get the recession memo

The brutal GDP report released on July 28, showing the economy had contracted for a second quarter in a row, led some to insist the much-feared recession had already arrived. And in some ways that makes sense: Since 1948, every period of back-to-back quarters of negative growth coincided with a recession. But the recession-is-already-here argument … Read more

Consumer debt tops $16 trillion as inflation fuels credit card surge

US household debt surpassed $16 trillion for the first time ever during the second quarter, the New York Federal Reserve said Tuesday. Even as borrowing costs surge, the NY Fed said credit card balances increased by $46 billion last quarter. Over the past year, credit card debt has jumped by $100 billion, or 13%, the … Read more

Bausch Health, Meta, Comcast, Qualcomm and more

In this photo illustration, a silhouetted woman holds a smartphone with the Meta Platforms, Inc. logo displayed on the screen. Rafael Henrique | Light Rocket | Getty Images Check out the companies making headlines in midday trading. Bausch Health – Trading in the pharmaceutical company’s shares was halted after the stock dipped 50%. A Delaware … Read more

European Central Bank tries to ease fears of debt crisis after bond ‘panic’

At its regular meeting last week, the ECB confirmed plans to increase rates by 25 basis points in July — its first hike in 11 years — to tackle inflation, and said a bigger increase could follow in September if necessary. It also said it would stop buying European government bonds. Those plans pushed up … Read more

5 things to know before the stock market opens Wednesday, May 25

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Nasdaq futures slide, a day after tech-heavy index sank more than 2% Traders on the floor of the NYSE, May 23, 2022. Source: NYSE US stock futures fell Wednesday, one day after the Nasdaq dropped 2.4% as … Read more

5 things to know before the stock market opens Monday, May 23

Here are the most important news, trends and analysis that investors need to start their trading day: 1. S&P 500 set to open higher after narrowly avoiding a bear market close Traders on the NYSE, May 20, 2022. Source: NYSE Dow futures rose 350 points Monday after the 30-stock average logged its first eight-week losing … Read more

eurozone breaks another record in April 2022

Inflation in the euro zone remains well above the ECB’s target, as energy and food prices soar. Bloomberg | Bloomberg | Getty Images Inflation in the euro zone has hit a record high for the sixth consecutive month, sparking further questions about how the European Central Bank will react. Headline inflation in the 19-member region … Read more