Finance

Spencer Platt | Getty Images People walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Net income was $6 billion in the quarter, up 33 percent from the same quarter last year. Wells Fargo is working on cutting costs. In September, it announced plans …

Is the Federal Reserve, as President Donald Trump suggests, crazy? A look at the changes to both its policy and its forecasts over the past two years shows very modest moves in response to new economic realities of stronger growth and lower unemployment — outcomes for which the president has …

Jeffrey Gundlach believes the U.S. stock market can’t diverge from global equity markets forever. The bond investor noted the S&P 500 was strangely outperforming the rest of the world’s equity markets since the summer into this month. “I said [before] … if the global stock [market] is going to take …

Stock market investors may be facing a game changer. According to DataTrek co-founder Nick Colas, a key relationship between stocks and bonds has broken down, and it could greatly hurt nest eggs. His latest research shows that the two assets became positively correlated in September, a trend that’s rarely been …

Mike Segar | Reuters Jack Dorsey, CEO and co-founder of Twitter and founder and CEO of Square, speaks at the Consensus 2018 blockchain technology conference in New York City, New York. Check out the companies making headlines after the bell: Square stock tumbled 8 percent in after-hours trading following news …

Jason Alden | Bloomberg | Getty Images Marlboro cigarettes, produced by Altria Group Altria shares rallied Wednesday on a report that the Marlboro cigarette maker is in talks to buy a stake in Canadian marijuana company Aphria. Details of Altria’s proposed investment are still being hashed out, multiple sources told …

The cannabis industry’s rapid evolution and new strategic partnerships with mainstream brands reveal a far larger possible market for legal marijuana than investors and analysts first anticipated, according to Cowen. “With cannabis, you’re talking about this massive step change in terms of the addressable market,” Vivien Azer said on CNBC’s …

Treasury Secretary Steven Mnuchin has told China not to weaken its currency as the U.S. and China try to resolve their trade differences. Mnuchin told the Financial Times the Treasury Department is closely watching the currency market and wants to talk about the issue with China as part of trade …

Brendan McDermid | Reuters Bin Li, CEO of Chinese electric vehicle start-up NIO Inc., celebrates after ringing a bell as NIO stock begins trading on the floor of the New York Stock Exchange (NYSE) during the company’s initial public offering (IPO) at the NYSE in New York, September 12, 2018. …

Stephen Brashear | Getty Images Starbucks CEO Kevin Johnson gestures while speaking during the Starbucks annual shareholders meeting at McCaw Hall on March 21, 2018 in Seattle, Washington.  Starbucks stock jumped more than 2 percent Tuesday afternoon on the news that Ackman’s fund, Pershing Square Capital, now has 15.2 million …