Goldman Sachs CEO David Solomon speaks at the World Economic Forum in Davos, Switzerland, on January 23, 2020. CNBC’s Adam Galacia Goldman Sachs is providing its top executives with a new perk that is becoming more common in the tech industry: the ability to take as much vacation time as they want. According to a […] More
Consider some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit Airlines increased 19.3 percent in premarket trading after JetBlue (JBLU) launched a $30 per share tender offer for its competitor airline. Spirit had previously rejected a bid from JetBlue, preferring to maintain a previously agreed-upon merger with Frontier Airlines […] More
The persistent spread of Covid and resulting stay-home orders — primarily in Shanghai — forced factories to close or operate at limited capacity in April. Pictured here on May 12 is a refrigerator factory in Hefei, China, about a five hours drive from Shanghai. Xie Chen | Visual China Group | Getty Images BEIJING — […] More
Traders on the floor of the NYSE, May 6, 2022. Source: NYSE Stock futures were higher Sunday evening after a week of steep losses that ended on a high note, and ahead of a big earnings week for retailers. Futures tied to the Dow Jones Industrial Average rose 89 points, or 0.3%, while S&P 500 […] More
Traders work on the floor of the New York Stock Exchange. NYSE Check out the companies making headlines in midday trading. Twitter — Shares of the social media platform slid 9.7% after Elon Musk said his take-private deal is on hold until he receives more information about how many fake accounts there are on Twitter. Still, Musk […] More
A Carvana used car “vending machine” on May 11, 2022 in Miami, Florida. Joe Raedle | Getty Images Shares of online used car retailer Carvana surged Thursday amid a wild trading session in which several heavily-shorted stocks popped. The stock closed up 24.7%. Trading was halted at least four times Thursday. Carvana’s share price had […] More
Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which is meant to always be worth $1 — sunk as low as 95 cents on Thursday and struggled to climb back to its intended dollar […] More
Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies. Jaap Arriens | NurPhoto | Getty Images Bitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project. The price of bitcoin plunged […] More
Crypto firm Tether has been reducing the amount of commercial paper in its reserves. Jakub Porzycki | Nurphoto | Getty Images Tether, the world’s largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market. The token sank to as low as 95 cents on some exchanges at around 3:15 a.m. ET. […] More
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority. Powell said he couldn’t promise a so-called soft […] More
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising interest rates by a half-percentage point to combat record high inflation. Win Mcnamee | Getty Images As he and his colleagues engage in a […] More
Stock futures were little changed on Thursday evening as investors geared up for the S&P 500 to potentially slide into official bear market territory. Futures tied to the Dow Jones Industrial Average shed 9 points, or less than 0.1%. S&P 500 futures and Nasdaq-100 futures were marginally higher. On Wednesday, the S&P 500 and Dow […] More