US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority. Powell said he couldn’t promise a so-called soft […] More
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising interest rates by a half-percentage point to combat record high inflation. Win Mcnamee | Getty Images As he and his colleagues engage in a […] More
Stock futures were little changed on Thursday evening as investors geared up for the S&P 500 to potentially slide into official bear market territory. Futures tied to the Dow Jones Industrial Average shed 9 points, or less than 0.1%. S&P 500 futures and Nasdaq-100 futures were marginally higher. On Wednesday, the S&P 500 and Dow […] More
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the U.S. dollar, has erased much of its value this week […] More
Carvana — Shares of the online used-car retailer popped 25%, alongside other heavily shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from Stifel, Morgan Stanley and Wells Fargo. Tapestry — Shares soared 15.5% […] More
Stock futures were slightly higher Wednesday evening after the latest CPI data showed inflation is still running hot. Futures tied to the Dow Jones Industrial Average added 70 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures each added 0.2% also. Shares of Bumble and Rivian jumped 10% and 7%, respectively, in extended trading […] More
Check out the companies making headlines in extended trading. Walt Disney — Disney shares rose about 1% in extended trading after the company reported stronger-than-expected growth in streaming subscribers across its media platforms for the most recent quarter. Bumble — The dating app operator’s shares jumped more than 9% after the company reported $211.2 […] More
Stocks rose Wednesday, as investors tried to look past the latest U.S. inflation data. The S&P 500 rose 0.9%, the Nasdaq Composite added 0.5% and the Dow Jones Industrial Average gained 320 points, or 1%. “I think there’s a hope, and I emphasize hope, that we’ve seen the peak in the rate of change in […] More
Bitcoin, the world’s largest cryptocurrency, has fallen over 50% since setting an all-time high of nearly $69,000 in November. Dan Kitwood | Getty Images The two main tokens from embattled crypto project Terra are now in freefall. UST, a so-called stablecoin that’s meant to maintain a $1 peg, plunged more than 60% Wednesday from 24 […] More
The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. Shannon Stapleton | Reuters Check out the companies making headlines after the bell: Coinbase — Shares sank 11.5% in extended trading after Coinbase reported first-quarter […] More
Shares of SoFi fell sharply on Tuesday and were halted for nearly three hours after the company accidentally released its first-quarter results early. The company said the report, which was scheduled for after market close on Tuesday, was released early due to human error, according to CNBC’s Kate Rooney. Shares were down more than 18% […] More
In this photo illustration an Upstart Holdings logo is seen on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images Shares of Upstart plummeted Tuesday after the artificial intelligence lending platform cut its full-year revenue outlook, citing rising interest rates and an uncertain economy. The company had reported better-than-expected first-quarter results […] More