Economic data South Korea, India, Japan

Economic data South Korea, India, Japan

Despite rate cuts, more growth policies are deemed necessary for the Chinese economy China still needs more growth policies to stabilize its economy after the central bank unexpectedly cut key interest rates, China’s central bank-backed Financial News said Tuesday. The People’s Bank of China cut the interest rate on its 1-year policy bonds by 10 … Read more

Stock futures just after Monday’s gains

Stock futures just after Monday’s gains

US stock futures were flat on Monday evening after all three major averages were achieved during the daily trading session. The Dow Jones Industrial Average futures are down 45 points, or 0.13%. On Monday, the 30-stock index closed above the 200-day moving average for the first time since late April. S&P 500 and Nasdaq 100 … Read more

Hedge fund manager Dan Loeb buys new stake in Disney and pushes for ESPN spin-off

Hedge fund manager Dan Loeb buys new stake in Disney and pushes for ESPN spin-off

and Loeb Justin Solomon | CNBC Daniel Loeb’s Third Point has taken a new stake in Disney, forcing the entertainment giant to spin off its sports network ESPN, according to a letter obtained by CNBC’s David Faber. Shares rose as much as 2% on the news. In a letter to Disney CEO Bob Chapek, Loeb … Read more

Shares Drop After Four Consecutive Weeks of S&P 500 Gains

Shares Drop After Four Consecutive Weeks of S&P 500 Gains

US stocks were lower on Monday, putting Wall Street on course to take a breather after another positive week as traders braced for big retail gains. The Dow Jones Industrial Average fell 150 points, or 0.45%. The S&P 500 and Nasdaq Composite fell 0.46% and 0.23% respectively. Monday’s moves come after disappointing economic data from … Read more

Anshu Jain, former co-CEO of Deutsche Bank, dies aged 59

Anshu Jain, former co-CEO of Deutsche Bank, dies aged 59

Jain Anshu, president of Cantor Fitzgerald, will appear on CNBC’s Squawk on the Street at the 2020 World Economic Forum in Davos, Switzerland, on January 22. 2020. Gerry Miller | CNBC Anshu Jain, an Indian-born investment banker who rose to co-CEO of Deutsche Bank, died last night after a long battle with cancer, his family … Read more

Fed’s Barkin says rate hikes must continue until inflation stays at 2%

Fed’s Barkin says rate hikes must continue until inflation stays at 2%

Despite positive inflation data this week, Richmond Federal Reserve president Thomas Barkin said Friday that more rate hikes will be needed to ease price pressures. This week’s releases showing the consumer and wholesale price increases that eased in July were “very welcome,” Barkin told CNBC’s “Squawk on the Street” in a live interview. “So we’re … Read more

Equity futures are slightly higher ahead of Friday’s session

Equity futures are slightly higher ahead of Friday’s session

Equity futures rose early Friday after the Dow Industrial Average and S&P 500 closed nearly flat after a short-lived rally driven by another positive inflation report. Futures pegged to the Dow Jones were up 45 points, or 0.14%, while the S&P 500 and Nasdaq 100 were up 0.17% and 0.25%, respectively. Shares of Rivian fluctuated … Read more

July 2022 Producer Price Index: Wholesale inflation down 0.5%

July 2022 Producer Price Index: Wholesale inflation down 0.5%

Wholesale prices fell in July for the first time in two years as a plunge in energy prices slowed inflation, the Bureau of Labor Statistics reported Thursday. The producer price index, which measures received prices for products against final demand, fell 0.5% from June, the first month-to-month decline since April 2020, the month after Covid-19 … Read more

Dow futures tick higher after Wednesday’s market rally

Dow futures tick higher after Wednesday’s market rally

Dow futures were higher in overnight trading on Wednesday after all major averages posted sharp gains on the back of a better-than-expected July inflation report. Futures pegged to the Dow Jones were up 0.27% or 89 points, while S&P 500 futures and Nasdaq 100 futures were up 0.26% and 0.38%, respectively. Disney added 6.7% in … Read more

Disney, Bumble, Sonos and more

Disney, Bumble, Sonos and more

Disney store can be seen in Times Square, New York City. Nick Pfosi | Reuters Check out the companies making headlines Wednesday after the bell: Walt Disney – Shares of the entertainment company rose 5.8% after Disney booked better-than-expected Disney+ subscriptions in the previous quarter. Subscriptions came in at 152.1 million, above StreetAccount’s expected 147.76 … Read more