Why Snowflake shares can survive a tough winter, according to Wells Fargo
Snowflake Inc. shares have dropped almost 60% over the past 12 months amid concerns about software valuations as well as the outlook for consumption-based software companies in a choppier economic environment, but Wells Fargo’s Michael Turrin thinks that the data-warehousing name can still thrive. He initiated coverage of Snowflake’s SNOW, +1.55% stock with an overweight […]
Why gold prices may be headed for record highs this year
Gold recently climbed to its highest prices in nearly seven months, feeding expectations that the precious metal is on track to notch record highs this year, after closing out 2022 with a modest loss.Gold “noticeably” appreciated by about $200 an ounce from November to the end of last year, and continued that trend in the […]
The Fed delivered a message to the stock market: Big rallies will prolong pain
It was a “don’t make me come back there” moment from the Federal Reserve.A line from the minutes of the central bank’s December policy meeting released Wednesday afternoon was taken by analysts and economists as a warning to financial market participants that bets on a policy pivot in 2023 aren’t welcome. And, to the extent […]
German factory orders fell in November to lowest level since July 2020
New orders at German factories declined sharply in November to their lowest level in more than two years, a sign of weakening demand for the country’s key manufacturing sector as the economy cools. Factory orders fell 5.3% on month in November, swinging from a 0.6% rise in October, according to price-adjusted data from the German […]
Your boss will no longer be able to make you sign noncompete agreements — if federal regulators have their way
Employers would be banned from making staff sign noncompete clauses, according to proposed rules that federal regulators say would boost worker pay and end a major drag on people who wish to change jobs, and stay in the same industry.The Federal Trade Commission released the proposed rules on Thursday designed to end worker noncompete clauses, […]
ADP says 235,000 private-sector U.S. jobs created in December
The numbers: Private-sector employment rose by 235,000 in December, payroll processor ADP said Thursday, in a sign that many companies are still hiring and the U.S. labor market remains strong. ADP reported a 182,000 increase in November. The increase in hiring was larger than expected. Economists polled by The Wall Street Journal had forecast a […]
Traders see higher likelihood of 50-basis-point-rate hike in February and 5%-plus fed funds rate by March
Traders raised the likelihood of a half-percentage-point February rate hike by the Federal Reserve on Thursday after Kansas City Fed President Esther George told CNBC she sees rates above 5% for some time. The chances of a 50-basis-point February hike were seen at 43%, up from 30% a day ago. Meanwhile, fed funds futures traders […]
Gold prices end lower after a 4-session rise to their highest since June
Gold futures finished lower on Thursday, posting their first loss in five sessions, as traders booked profits in the wake of the metal’s rise to its highest price since June. Price action Gold for February delivery GC00, +0.04% GCG23, +0.04% fell $18.40, or 1%, to settle at $1,840.60 per ounce on Comex. Prices for […]
Can you trust mobile banking apps? How to stay as safe as possible when banking on your phone.
This article is reprinted by permission from NerdWallet. Americans embraced mobile banking as their main account access more than any other method from 2017 to 2021, according to the Federal Deposit Insurance Corp.’s 2021 report on unbanked and underbanked households. Even so, a new NerdWallet survey found that many people are hesitant to use mobile banking because […]
Data from 235 million Twitter users reportedly exposed by hacker
Data from 235 million Twitter accounts has been leaked and posted on an online hackers forum, free for anyone to download, according to reports late Wednesday. Researchers at Privacy Affairs reported the leaked data includes account names, handles, creation dates, follower counts and email addresses, and that the data could be used for phishing, doxxing […]