People visit China Telecom’s booth during 2019 World 5G Convention at Beijing Etrong International Exhibition & Convention Center on November 21, 2019 in Beijing, China. VCG | Getty Images BEIJING — Global investors are stepping up their bets on Asia, particularly China, regardless of the coronavirus pandemic’s shock to growth or growing geopolitical tensions. Just this
Tesla vehicles are displayed in a Manhattan dealership on September 08, 2020 in New York City. Spencer Platt | Getty Images Check out the companies making headlines in midday trading: Bristol-Myers Squibb — Shares of the pharmaceutical company rose 1.2% after it announced positive interim results from a phase three trial of an immunotherapy drug
Take a look at some of the biggest movers in the premarket: Costco (COST) – Costco reported quarterly earnings of $3.04 per share, 20 cents a share above estimates. The warehouse retailer’s revenue also beat Wall Street forecasts. Comparable-store sales rose 11.4% compared to the 7.8% consensus estimate of analysts polled by Refinitiv. Costco also
A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai on September 8, 2019. Alex Tai | SOPA Images | LightRocket via Getty Images SINGAPORE — Major index provider FTSE Russell said Thursday it will add Chinese government bonds to its flagship World Government Bond Index from October next year — a development
A computer-generated image from interiors contractor Portview shows how office space may be segregated as people go back to the workplace after the coronavirus lockdowns are eased. Portview What will the post-Covid workplace look like? Steelcase is one of the largest manufacturers of office furniture — desks, chairs, storage products and office pods — and
shapecharge | E+ | Getty Images Racial inequality is bad for the U.S. in innumerable ways, of course, many of which are hard to calculate directly. But now Citi has put a number to at least one aspect of social injustice, finding in a new study that $16 trillion has been erased from U.S. GDP
Stock futures were slightly higher during overnight trading as the major averages attempted to recover from Wednesday’s heavy losses, which saw the S&P 500 tumble more than 2%. Futures contracts tied to the Dow Jones Industrial Average rose 0.13%, pointing to a 75-point gain at the open on Thursday, while S&P 500 futures advanced 0.08%.
Economist Stephen Roach warns next year will be brutal for the dollar. Not only does he see growing odds of a double-dip recession, the Yale University senior fellow believes his “seemingly crazed idea” that the dollar would crash shouldn’t be so crazy anymore. “We’ve got data that’s confirmed both the saving and current account dynamic in
Spencer Platt | Getty Images Some JPMorgan Chase traders are upset that they only learned about a coronavirus case in their building last week from press reports, CNBC has learned. When the bank discovered that an employee on the fifth floor of its Manhattan headquarters had caught Covid-19, it quickly told those who had contact
A couple wearing protective facemasks as a prevention measure against the COVID-19 coronavirus walk at a nearly empty shopping mall in Beijing on February 27, 2020. Nicolas Asfouri | AFP | Getty Images BEIJING — Chinese fervor for online shopping waned in August, a sign that the world’s second-largest economy still faces many challenges as it
TransferWise co-founders Kristo Käärmann and Taavet Hinrikus. TransferWise LONDON — TransferWise, one of Europe’s most valuable private financial technology firms, just posted its fourth consecutive year of profitability. The online money transfer service said Wednesday that its net profit more than doubled to £21.3 million ($27.1 million) in the fiscal year ending March 2020. Annual
Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Bernstein upgraded Amazon to “outperform” from “market perform,” saying a 16% drop in the stock over the past few weeks has created an attractive entry point. Bernstein highlights Amazon’s growth prospects, noting a 50% increase this year in fulfillment capacity.
While the stock market continues to struggle, the dollar is kicking off the week around six-week highs. However, Brown Brothers Harriman’s Win Thin warns the greenback won’t stay there because the backdrop supports another leg lower. He expects the U.S. Dollar Index to test Feb. 2018 lows — which would be around the “88 and change”
A man walks near the New York Stock Exchange (NYSE) on August 31, 2020 at Wall Street in New York City. Angela Weiss | AFP | Getty Images Stock futures held steady in overnight trading on Monday following a steep sell-off on Wall Street. Futures on the Dow Jones Industrial Average fell about 10 points.
A Deutsche Bank AG flag flies outside the company’s office on Wall Street in New York. Mark Kauzlarich | Bloomberg | Getty Images Financial stocks came under pressure on Monday amid a report that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials. Shares of
A pedestrian with a umbrella walks pass a logo of Deutsche Bank in Frankfurt am Main, Germany. Thomas Lohnes | Getty Images SINGAPORE — Germany’s largest lender Deutsche Bank appears to have facilitated more than half of the leaked $2 trillion of suspicious transactions that were flagged to the U.S. government over nearly two decades,
People visit the Charging Bull Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020. Tayfun Coskun | Anadolu Agency | Getty Images U.S. stock futures dipped on Sunday night as the market tried to bounce back from its longest weekly losing streak in about a year. Dow Jones
James Bullard Olivia Michael | CNBC St. Louis Federal Reserve President James Bullard offered an optimistic look on the U.S. economy, with “off the charts” growth that will help lift inflation. Bullard also said he sees the unemployment rate falling to 6.5% by the end of the year, an estimate well below the median projection
CEO of Tesla Motors Elon Musk reacts following the company’s initial public offering at the NASDAQ market in New York June 29, 2010 Brendan McDermid | Reuters Check out the companies making headlines in midday trading. U.S. Steel — U.S. Steel shares popped more than 9% after the company reported a smaller-than-expected loss for its
A member of exchange staff uses a fixed-line telephone while looking at financial data on computer screens on the trading floor of Bats Europe, the European arm of Bats Global Markets Inc., in London, U.K.. Jason Alden/Bloomberg | Bloomberg | Getty Images Trading floors in banks have been immortalized in countless Hollywood movies. Chaotic scenes