Economy still not ready for big rate hikes ahead, says Wells Fargo CEO

Charles Scharf Qilai Shen | Bloomberg | Getty Images Wells Fargo CEO Charles Scharf said he is betting on “more significant rate hikes” as the Federal Reserve tries to rein in high inflation, and that the economy is not as prepared as it should be. “I wouldn’t bet on a number, but I would bet … Read more

5 things to know before the stock market opens Wednesday, June 22

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to give back much of Tuesday’s gains Traders on the floor of the NYSE, June 16, 2022. Source: NYSE US stock futures fell Wednesday, pointing to an open that would give up now of … Read more

5 things to know before the stock market opens Thursday, June 16

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to plunge as stocks’ post-Fed rate hike rally vanishes The screen displays the Fed rate announcement as a trader works (inside a post) on the floor of the New York Stock Exchange (NYSE) in … Read more

Here’s how recessions became an inevitable part of the American economy

The US has experienced at least 30 recessions throughout history, dating back as early as 1857. Some economists argue that they may become an inevitable part of the financial cycle that fluctuates between periods of expansion and contraction. “History teaches us that recessions are inevitable,” said David Wessel, a senior fellow in economic studies at … Read more

5 things to know before the stock market opens Wednesday, June 8

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures fall with the 10-year Treasury yield above 3% Trader on the floor of the NYSE, June 7, 2022. Source: NYSE US stock futures fell Wednesday after back-to-back gains on Wall Street. Adding pressure, the benchmark … Read more

The job market is still hot – for now

A storefront in Montebello, California on Dec. 9, 2021. Frederic J. Brown | Afp | Getty Images Workers continue to benefit from a hot job market characterized by near-record demand for their lab, which has translated to ample choice and higher pay. However, there are signs of a slowdown in some industries and the Federal … Read more

5 things to know before the stock market opens Tuesday, May 24

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow set to gave back some of Monday’s snapback rally The screen displays the Fed rate announcement as a trader works inside a post on the floor of the New York Stock Exchange (NYSE) in New York … Read more

5 things to know before the stock market opens Wednesday, May 11

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Futures turn lower after consumer prices remain at four decade highs Traders on the floor of the NYSE, May 10, 2022. Source: NYSE US stock futures turned lower Wednesday after the first of two key April inflation … Read more