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Mark Wilson | Getty Images Federal Reserve Board Chairman Jerome Powell speaks during a news conference on December 19, 2018 in Washington, DC. The US Federal Reserve raised the short-term interest rates by a quarter percentage point on Wednesday, the fourth increase of the year, and signaled two more hikes …
Read More »Powell says inflation has surprised to the downside, but not by a lot
Mark Wilson | Getty Images Federal Reserve Board Chairman Jerome Powell speaks during a news conference on December 19, 2018 in Washington, DC. Inflation has persistently surprised policy makers on the low end, Federal Reserve Chairman Jerome Powell acknowledged on Wednesday, but not enough to stop the central bank’s efforts …
Read More »Powell says Fed has arrived at the lower end of neutral rate range
Jim Watson | AFP | Getty Images Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington, DC, December 19, 2018. Federal Reserve chairman Jerome Powell made his comments on Wednesday following the Federal Reserve’s decision to hike interest rates. This …
Read More »Fed dot plot December 2018
Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve. The Federal Reserve said Wednesday it now expects just two rate hikes in 2019, one less than it had previously forecast in September. In its economic projections, the Fed reduced its forecast for the federal …
Read More »Major global markets already in bear market, stoking growth fears
The economic headwinds and downbeat sentiment has forced investors to consider to what extent those recent data points could spell more pain ahead for U.S. markets, Despite the recent-sell-off, relatively speaking, the major US indices are outperforming their global peers. The pan-European Stoxx 600 index has fallen more than 15 …
Read More »Sell-off forces Credit Suisse to slash 2019 S&P 500 target
Recent wild rides in the stock market have forced Credit Suisse to cut its forecast for 2019. The bank has slashed its 2019 year-end S&P 500 price target to 2925 from 3350. The new target would be a 15 percent gain from current levels. “Our lower price target reflects recent …
Read More »The tech ‘FAANG’ trade is no longer the favorite of investors
Drew Angerer | Getty Images The day’s final numbers are displayed on a monitor on the floor of the New York Stock Exchange (NYSE) at the closing bell, November 19, 2018 in New York City. Technology stocks continued to plunge on Monday, with Facebook and Apple down again as the …
Read More »As Goldman’s 1MDB mess deepens, insiders doubt the firm’s rogue banker defense
Goldman Sachs is finding it hard to distance itself from what it says were the actions of a few bad apples. The bank has said just two employees were primarily responsible for a deepening international scandal in which Goldman bankers helped a Malaysian financier plunder billions of dollars from an …
Read More »Stocks making the biggest moves after hours: Qualcomm, Oracle and more
David Paul Morris | Bloomberg | Getty Images Mark Hurd, CEO of Oracle Corp. Check out the companies making headlines after the bell: Oracle shares rose as much as 3.6 percent during after hours trading Monday as the company beat expectations on both earnings and revenue. The computer technology company …
Read More »Goldman Sachs says it was lied to in 1MDB scandal that has plagued its stock
Chris Jung | NurPhoto | Getty Images Logo of 1MDB (1Malaysia Development Berhad) on a bus window in Kuala Lumpur, Malaysia. Goldman Sachs is fighting back against criminal charges from the Malaysian government, saying it was the victim of deceptive Malaysian officials in a scandal that has rocked the bank’s …
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