Powell to speak in Congress – markets are mixed on expectations
U.S. Federal Reserve Chair Jerome Powell testifies before a Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill on March 3, 2022.Pool | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to […]
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 […]
Amid stubborn inflation, 60% of Americans live paycheck to paycheck
Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room.As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report. That’s down from 64% a year earlier, suggesting […]
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. […]
54% of Americans are dipping into savings to pay for everyday expenses
Inflation is still taking a hefty toll on households, recent reports show.Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics.To make ends meet, 27% of Americans said they’ve had to take money […]
World’s biggest pension fund posts loss in longest losing streak in two decades
Masataka Miyazono, president of the Government Pension Investment Fund (GPIF), speaks during a news conference in Tokyo, Japan, on Friday, July 1, 2022.Bloomberg | Bloomberg | Getty ImagesJapan’s Government Pension Investment Fund — the world’s largest — reported a fourth consecutive quarterly loss on Friday, taking it to its longest losing streak in 20 years.The world’s […]
IMF hikes global growth forecast as inflation cools
The IMF has revised its global economic outlook upwards.Norberto Duarte | Afp | Getty ImagesThe International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia’s invasion of Ukraine would likely still weigh on activity.In its latest economic update, the IMF said the global […]
Fourth-quarter 2022 GDP: What economists are expecting
Economic growth is expected to have slowed slightly in the fourth quarter but was still solid, driven by a strong consumer.Economists will be studying Thursday’s report on U.S. gross domestic product carefully for signs of how strong or weak the consumer actually was at the end of 2022. Retail sales suggest spending fell off sharply […]
What a recession would mean for your investments
Stop us if you’ve heard this one before: A lot of people think the economy may be headed for a recession.It’s everywhere: A recent poll of economists from the Wall Street Journal pegged the recession chances in 2023 at 61%. Even 96-year-old former Federal Reserve Chairman Alan Greenspan has weighed in, saying that a recession […]
Dimon says Congress shouldn’t play games with U.S. creditworthiness
Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. Adam Galica | CNBCJPMorgan Chase CEO Jamie Dimon said Thursday that politicians should be serious about the debt ceiling as Congress remains locked in a political fight to increase the U.S. borrowing limit.”We should […]