FOMC not ready to cut rates until ‘greater confidence’ inflation is moving to 2% goal

Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates, minutes released Wednesday showed. “Participants affirmed that additional favorable data were required to give them greater confidence that inflation was moving sustainably toward 2 percent,” the meeting summary said. […]

PARA, TSLA, MGM and more

Check out the companies making headlines in midday trading: Paramount Global — The media and entertainment stock popped more than 9% on news that Skydance Media has reached a preliminary merger deal with controlling shareholder National Amusements. Paramount Global’s special committee is reviewing and voting on the agreement , CNBC reported, citing a person familiar […]

One of the biggest bears in this bull market is leaving JPMorgan

JPMorgan’s Marko Kolanovic. Crystal Mercedes | CNBC A top strategist at JPMorgan who was caught offside by the stock market rally is quitting the investment firm. Marko Kolanovic, who served as chief global markets strategist and co-head of global research, is leaving the bank to explore other opportunities, according to a source familiar with the […]

Is inflation Biden’s or Trump’s fault? The answer isn’t so simple

President Joe Biden and former President Donald Trump faced off in the first presidential debate of the 2024 campaign on June 27, 2024 in Atlanta. Andrew Harnik | Getty Images News | Getty Images The recent U.S. presidential debate saw both candidates trade barbs related to the economy. High pandemic-era inflation was among the grievances. […]

Stocks making the biggest moves premarket: PARA, TSLA, STZ

Check out the companies making headlines before the bell. Paramount Global — Shares of Paramount Global surged more than 12% on news that Skydance Media has reached a preliminary deal to buy National Amusements, the company’s controlling shareholder. The New York Times and Wall Street Journal first reported news of the agreement. Tesla — The […]

U.S. needs more tungsten. China is a major supplier of the critical metal

Pictured here is a stone with tungsten ore inside a mine in Germany run by Saxony Minerals and Exploration. Picture Alliance | Picture Alliance | Getty Images BEIJING — China dominates the supply chain for many of the world’s critical minerals, but so far it’s held off on sweeping restrictions on at least one: tungsten. […]

Americans caught in fintech’s false FDIC promise

Natasha Craft, a 25-year-old FedEx driver from Mishawaka, Indiana. She has been locked out of her Yotta banking account since May 11. Courtesy: Natasha Craft When Natasha Craft first got a Yotta banking account in 2021, she loved using it so much she told her friends to sign up. The app made saving money fun […]

What Taylor Swift’s The Eras Tour says about ‘passion tourism’

Taylor Swift performs on stage during The Eras Tour on June 28, 2024 in Dublin, Ireland.  Charles Mcquillan/tas24 | Getty Images Entertainment | Getty Images Taylor Swift’s European tour was top of mind for Nikita Rao when planning where to go for her family’s annual summer vacation. Rao, her husband and two kids, who live […]

TSLA, CRWD, PARA, TEAM and more

Check out the companies making headlines in premarket trading. Tesla – The electric vehicle stock declined 1.5% before the bell, following a 6% jump during Monday’s session as the company is slated to report second-quarter delivery numbers Tuesday morning. Atlassian Corporation — Shares advanced nearly 2% following an upgrade to overweight from Piper Sandler. Analyst […]