Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on February 01, 2023 in Washington, DC. Kevin Dietsch | Getty ImagesFederal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected.Citing data earlier this year showing […]
Stock market today: Live updates
The Dow rose slightly Monday, as Wall Street fought to hold onto last week’s gains and investors braced for a busy week of economic news.The Dow Jones Industrial Average gained 40.47 points, or 0.12%, to settle at 33,431.44. The S&P 500 added 0.07% to end at 4,048.42, while the Nasdaq Composite dipped 0.11% to close […]
David Einhorn says investors should be ‘bearish on stocks and bullish on inflation’
Greenlight Capital’s David Einhorn said Wednesday he’s keeping his negative stance on the stock market as inflation and interest rates could shoot higher.”I think we should be bearish on stocks and bullish on inflation,” Einhorn said on CNBC’s “Halftime Report.” “I think we’re in a policy now, which is probably pretty good for Main Street, […]
Gold hits 1-week high as dollar slides on robust China data
An Argor-Heraeus SA branded two hundred and fifty gram gold bar, center, sits in this arranged photograph at Solar Capital Gold Zrt. in Budapest, Hungary.Akos Stiller | Bloomberg | Getty Images Gold prices gained 1% on Wednesday as strong Chinese economic data dented the dollar and drove some bets for better physical demand from the […]
10-year Treasury yield briefly hits highest level since November
U.S. Treasury yields were little changed on Tuesday to cap off a month of sharp gains, as traders weighed the prospects of tighter for longer monetary policy.The yield on the benchmark 10-year Treasury note was last lower by 1 basis point at 3.912%. Earlier, it touched a high of 3.983%, its highest level since Nov. […]
Gold set for biggest drop in 20 months on rate hike worries
American Eagle and South African Krugerrand gold bullion in Chicago, Illinois.Scott Olson | Getty ImagesGold prices slipped to a two-month low on Tuesday and were on track for their biggest monthly decline since June 2021, pressured by an elevated dollar and prospects of more rate hikes from the U.S. Federal Reserve.Spot gold was down 0.17% […]
It has ‘lost a little bit of control of inflation’
JPMorgan Chase CEO Jamie Dimon said Thursday that containing inflation remains a work in progress for the Federal Reserve, while noting the U.S. economy continues to show signs of strength.”I have all the respect for [Fed Chair Jerome] Powell, but the fact is we lost a little bit of control of inflation,” Dimon said in […]
Gold steady as U.S. rate hike fears persist
A one-kilogram gold bar sits at Gold Investments Ltd. bullion dealers in this arranged photograph in London, U.K., on Wednesday, July 29, 2020.Chris Ratcliffe | Bloomberg | Getty ImagesGold prices were little changed on Thursday as traders waited for U.S. growth data for more clues on the pace of Federal Reserve rates hikes and a […]
Gold dips on firm dollar and yields, markets turn to U.S. data
Gold bars being counted in IstanbulYoray Liberman | Getty ImagesGold prices eased on Tuesday as the dollar strengthened and bond yields rose, while investors looked toward U.S. economic data later this week for more clues on the rate-hike trajectory of the Federal Reserve.Spot gold fell 0.3% to $1,835.57 per ounce. U.S. gold futures slipped 0.4% […]
Gold steadies on dollar pullback; Fed rate increase fears weigh
Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. arranged in Budapest, Hungary, on Tuesday, March 22, 2022. Akos Stiller | Bloomberg | Getty ImagesGold prices edged higher on Thursday due to a slight pullback in the dollar and bond yields, although gains were kept in check by evidence of a resilient U.S. […]