Author: News Room
Wednesday is shaping up to be one of the most important days of the year for economic news, as investors will hear about the path of inflation and the manner in which the Federal Reserve plans to react.In a one-two punch that starts in the morning with the pivotal consumer price index reading for May and ends with the Fed’s policy meeting in the afternoon, vital signals will be sent about the direction of the economy and whether policymakers can soon take their foot off the brake.The day “packs months of macro risk into one day,” wrote UBS economist Jonathan…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stock spotlight: The market is flattish Tuesday, overcoming some selling pressure at the start of the session. Longtime Club holding Apple is the top stock in the S & P 500 , rallying more than 6% to a fresh all-time high. Apple’s surge follows a roughly 2% decline Monday as the iPhone maker presented its generative artificial intelligence strategy at its annual developer conference event. The difference between the sessions? The…
The high interest rate environment has done little to dampen the appetite for credit products, a recent TransUnion report said. The report said that in the first quarter of 2024, when counted together, consumers had more than 543 million bank cards in their wallets, an increase of 20 million year over year and more than 88 million from just three years ago. Not only do more Americans have bank cards, but they are also increasingly using their available credit, with balances growing 2.2% over last year. The average new account credit lines rose 3.8% to $5,628.Consumers also increasingly accessed cash…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.000% as of May 10, which is 0.010 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.375%, which is 0.125 percentage points higher than yesterday. With mortgage rates changing daily, it’s a good idea to…
The May 2024 jobs report showed remarkable strength just in time for new graduates despairing that they might have to move home. You got this, graduate. You can find a job and live on your own. The Biden administration’s efforts to address supply chain issues are effectively slowing down price hikes, and employers are happily and confidently hiring workers. The unemployment rate is 4% — as good a measure of full employment as you can get. Other signals point to a strong economy. Job losers are a lower share of the unemployed — 48.7% — than before. New labor market…
US Department of Veterans Affairs officials have eliminated frontline jobs for staffers who provide care to veterans, even though agency leaders previously declared such positions would largely be protected from cuts, according to a CNN review of documents and interviews with more than 20 VA employees and job applicants. Positions for psychologists, clinical social workers and others have been cut, and some job offers have been rescinded in recent weeks and months as the agency seeks to address a budgetary shortfall and shave its workforce by 10,000 positions. The job reductions come at a time when some veterans continue to face extended…
Stay informed with free updatesSimply sign up to the Media myFT Digest — delivered directly to your inbox.Edgar Bronfman Jr has become the latest billionaire to join the pursuit of Paramount, signalling his interest in a possible $2bn-plus bid for National Amusements, the holding company through which Shari Redstone controls the film and TV group.The latest twist in a chaotic saga over Paramount’s future was confirmed by two people familiar with Bronfman’s interest, who said he had backing from private equity group Bain. A successful bid would mark a return to the centre of the media industry for Bronfman, a…
With a good chunk of this year’s rally being driven by tech stocks, and in particular AI, it’s often necessary for us to dig into other sectors for growth. Another key trend that has dominated the healthcare space this year is the burst of popularity in Ozempic and related weight-loss drugs: and though this is only a smart part of Hims & Hers’ (NYSE:HIMS) product portfolio, the company has been a big beneficiary of that trend, with its stock up more than 2x year to date. Data by YCharts Despite the massive year to date rally, I’m initiating Hims &…
The WNBA just had its highest-attended opening month in 26 years, fueled by a powerhouse rookie class with the likes of Caitlin Clark and Angel Reese. The league also said Monday it had its most-watched start of the season games ever across all six networks that broadcast matches — ABC, ESPN, ESPN2, CBS, ION and NBA TV. Women’s basketball is experiencing a boom thanks to the phenomenon around WNBA rookie Clark. The NCAA women’s basketball National Championship matchup between Clark’s alma mater the Iowa Hawkeyes and the South Carolina Gamecocks earlier this year drew 18.9 million viewers, smashing television ratings…
Trump Media on Monday submitted an updated inspection of the company’s finances by a newly hired public accounting firm, after its last auditor was charged with fraud by the U.S. Securities and Exchange Commission.Shares of Trump Media initially dropped more than 7% on Monday’s announcement. The stock was down about 6% as of 1:00 p.m. ET.The media company, which is majority-owned by former President Donald Trump and trades as DJT on the Nasdaq, said its revised registration statement includes a reaudit conducted by the Phoenix, Arizona-based firm Semple, Marchal & Cooper, LLP.The company behind the social media platform Truth Social…
