The People’s Bank of China cut its five-year loan prime rate (LPR) by 15 basis points to 4.45%, the second reduction this year and the largest on record. Most analysts had expected a cut of five basis points. China’s LPR is the rate at which commercial banks lend to their best customers. It serves as …
China slashes interest rate as housing sales collapse Read More »
NEW YORK (AP) – Another fall for stocks on Friday has the S&P 500 flirting with a 20% drop from its peak set earlier this year, putting it within the grasp of what Wall Street calls a bear market. The index that’s at the heart of most workers’ 401 (k) accounts was down 0.4% for …
Wall Street nears bear market at the end of a bruising week Read More »
The Deer & Co. John Deere 8R fully autonomous tractor is displayed ahead of the Consumer Electronics Show (CES) on January 4, 2022 in Las Vegas, Nevada. Patrick T. Fallon | AFP | Getty Images Check out the companies making headlines in midday trading. Deere – The stock plummeted 11.4% after Deere reported a miss …
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures rise after S&P 500 closes on brink of a bear market Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, May 19, 2022. Andrew Kelly …
5 things to know before the stock market opens Friday, May 20 Read More »
Check out the companies making headlines before the bell: Foot Locker (FL) – The athletic footwear and apparel retailer reported an adjusted quarterly profit of $ 1.60 per share, 5 cents above estimates. Revenue was slightly below forecasts, and same-store sales fell by less than half of what was anticipated by analysts. Foot Locker shares …
The announcement will be welcomed by the Biden administration, which has sought to steer countries away from Huawei. Town Erik Hertzberg and Brian PlattBloomberg Published On 19 May 202219 May 2022 Prime Minister Justin Trudeau will join Canada’s closest intelligence allies in banning Huawei Technologies Co. from fifth-generation wireless networks, according to a government official …
Trudeau to ban China’s Huawei from 5G in Canada | Technology News Read More »
By Adam Owens, WRAL anchor / reporter Raleigh, NC – The economy is strange right now. The stock market keeps making sharp downturns, inflation is up and supply chain issues are causing delays and higher costs – but at the same time, job availability is also so high that many companies are hurting for employees. …
‘NC economist says 50-50 chance of recession in 2022 :: WRAL.com Read More »
Stagflation is making a comeback, according to former Morgan Stanley Asia chairman Stephen Roach. He warns the US is on a dangerous path that leads to higher prices coupled with slower growth. “This inflation problem is widespread, it’s persistent and likely to be protracted,” Roach told CNBC’s “Fast Money” on Thursday. “The markets are not …
Stephen Roach gives stagflation warning, calls peak inflation absurd Read More »
By FATIMA HUSSEIN and FRANK JORDANS, Associated Press KOENIGSWINTER, Germany (AP) – Finance ministers for the Group of Seven leading economies grappled Thursday with deepening inflation concerns and the immediate effects of Russia’s war in Ukraine, with US Treasury Secretary Janet Yellen warning that it all adds up to a “very difficult economic situation.” Yellen …
Inflation, Russia-Ukraine War Draw G7 Finance Leaders’ Focus | Business News Read More »
NEW YORK (AP) – Stocks fell in morning trading on Wall Street Thursday, deepening a slump for major indices as persistently high inflation continues to weigh on the economy. The S&P 500, the benchmark for many index funds, is coming off of its biggest drop in nearly two years. It fell another 0.4% and is …
Stocks slip on Wall Street, edge closer to bear market Read More »
