Business

More workers just became eligible for unemployment, including those who didn't return to work over safety concerns

Carlos Ponce joins a protest in in Miami Springs, Florida, asking senators to continue unemployment benefits past July 31, 2020. Joe Raedle/Getty Images On Thursday, the Labor Department expanded eligibility for unemployment benefits. The benefits now include workers who didn't return to or accept jobs due to COVID safety concerns. But those who quit their jobs over safety concerns aren't eligible for the expanded benefits. Visit the Business section of Insider for more stories. The Labor...
Tags: Trends, Joe Biden, University Of Chicago, Meyer, Federal Reserve, Economic Policy Institute, Labor Department, Labor Dept, Joe Raedle Getty, Carlos Ponce, Heidi Shierholz, Bruce Meyer, COVID, Employ America, Elizabeth Pancotti, Miami Springs Florida

Treasury yields spike to highest in over a year as investors weigh inflation concerns against recovery prospects

Tetra Images via Getty The 10-year yield zoomed past 1.5% on Thursday, reaching a level not seen since February 2020 The pace of the selloff in bonds has "increased severely" over the past few weeks, according to a fixed-income strategist. The selloff comes as Congress is set to vote on a $1.9 trillion stimulus package  Visit the Business section of Insider for more stories. The yield on the US 10-year Treasury note surged to its highest in more than a year, with the rapid rise stoked by ...
Tags: Congress, US, Trends, Debt, Markets, Bloomberg, Treasury, Federal Reserve, Bond, Stimulus, Yield, Treasuries, Brean Capital, Carla Mozee, Treasury Inflation Protected Securities, Buchta

Treasury yields spike to highest in over a year as investors weight inflation concerns against recovery prospects

Tetra Images via Getty The 10-year yield zoomed past 1.5% on Thursday, reaching a level not seen since February 2020 The pace of the selloff in bonds has "increased severely" over the past few weeks, according to a fixed-income strategist. The selloff comes as Congress is set to vote on a $1.9 trillion stimulus package  Visit the Business section of Insider for more stories. The yield on the US 10-year Treasury note surged to its highest in more than a year, with the rapid rise stoked by ...
Tags: Congress, US, Trends, Debt, Markets, Bloomberg, Treasury, Federal Reserve, Bond, Stimulus, Yield, Treasuries, Brean Capital, Carla Mozee, Treasury Inflation Protected Securities, Buchta

Emergency monthly checks for parents could turn permanent under Senate Democrats' push

Sen. Sherrod Brown (D-OH) talks with reporters on Capitol Hill. Tom Williams/CQ-Roll Call, Inc via Getty Images Senate Democrats want to make permanent a new stimulus program that would temporarily provide checks to families. Sen. Sherrod Brown said he wants to tie it to a plan for postal banking. Under the House stimulus plan, families could receive a monthly check of $250 or $300 per child starting on July 1. Visit the Business section of Insider for more stories. Senate Democrats said o...
Tags: Utah, Florida, Senate, Trends, Joe Biden, Gop, House, Marco Rubio, Columbia University, Federal Reserve, Rubio, Brown, Sen Sherrod Brown, Senate Banking Committee, Committee for a Responsible Federal Budget, Under the House

Global stocks rise as Fed Chair Jerome Powell confirms interest rates will remain low for longer

AP Photo/Richard Drew Global stocks gained Thursday after Jerome Powell struck a reassuring tone for central-bank policy.The Fed chairman said it could take more than three years before inflation reached the Fed's target of 2%.Yield on the 10-year US Treasury note rose to 1.4%, its highest in a year.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Global stocks rose Thursday after Federal Reserve Chairman Jerome Powell wrapped up his two-day congressional testimony ...
Tags: Asia, Hong Kong, Japan, UK, Texas, China, Germany, Global, US, Trends, Shanghai, Deutsche Bank, US Treasury, Pfizer, Brent Crude, Federal Reserve

Dow closes at record high as Powell signals Fed to remain accommodative

Xinhua/Wang Ying/ Getty Images The Dow Jones Industrial Average closed at record highs on Wednesday as Federal Reserve Chairman Powell signaled that the Fed will continue to remain accommodative. Powell wrapped up his second day of testimony to Congress and said the economy still needs support given that the unemployment rate and inflation has yet to reach the Fed's target.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The Dow closed at record highs on Wednesday a...
Tags: Congress, US, Trends, Tesla, Treasury, Fda, Federal Reserve, Foxconn, Buffett, Fed, SPAC, Johnson Johnson, Powell, Daily Journal, Charlie Munger, Jerome Powell

Federal Reserve payment system crashed, service restored hours later

The Federal Reserve experienced a major technical outage.
Tags: Finance, Article, Federal Reserve, FBN, Fbn/markets, FOXBusiness, Suzanne O'Halloran, Fox-business/politics/the-fed, fox-business/industries/Financials, Edward Lawrence, 1c57b734-8717-55ee-99b7-8fba3c759e86

Stocks seek direction as Fed's Powell set to resume Capitol Hill testimony

U.S. stock futures were lower Wednesday morning as investors grappled with rising bond yields and assurances from Federal Reserve Chairman Jerome Powell that the central bank would continue to support the economy.
Tags: Finance, Article, Capitol Hill, Federal Reserve, Fed, Powell, FBN, Jerome Powell, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/earnings, Fox-business/markets/us-markets, Fox-business/politics/the-fed, Jonathan Garber, Fox-business/topic/coronavirus

US stocks dip as investors weigh spiking yields against stimulus promises

Traders work during the closing bell at the New York Stock Exchange (NYSE) on March 18, 2020 at Wall Street in New York City Johannes Eisele/AFP via Getty Images US stocks declined on Wednesday as investors weighed rising interest rates against fiscal stimulus progress.Stocks extended their decline from Tuesday's volatile tech sell-off, which saw the Nasdaq 100 briefly down as much as 4%.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stocks were lower on Wednesd...
Tags: Congress, Wall Street, US, Trends, Tesla, Treasury, Fda, Federal Reserve, Foxconn, Afp, Johnson Johnson, Powell, Jerome Powell, MicroStrategy, New York Stock Exchange NYSE, Matthew Fox

Goldman alums launch trading venue - Wall Street splashes out on AI, cloud - Alt data for young hedge funds

New York City, USA - August 1, 2018: Elevated view of the skyline of modern skyscrapers of Manhattan at sunset in New York City, USA J2R/Shutterstock Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:A new stock-trading venue just raised money from some of Wall Street's biggest names, including Goldman Sachs and Bank of America.From AI to the cloud, Wall Street plans to allocate more of its IT budget to cutting-edge tech. An alt-data sho...
Tags: Amazon, Wall Street, US, Trends, Bank Of America, Credit Suisse, Manhattan, SEC, Goldman Sachs, Federal Reserve, Goldman, Gamestop, Wells Fargo, Reuters, Bern Switzerland, Fomo

10 things you need to know before the opening bell

Federal Reserve chair Jerome Powell Sarah Silbiger/Getty Images Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.Sign up for Insider Investing for your weekly markets analysis.Here's what you need to know before markets open.1. US futures edge up after Asian stocks plunge despite Fed chair Jay Powell's dovish comments. Futures climbed into the green after Powell stressed that the economy still needed support.2. Star investor Cathie Woo...
Tags: Congress, US, Trends, Tesla, Goldman Sachs, Federal Reserve, Vlad Tenev, Fed, Jpmorgan, Lee, Powell, Tom Lee, Jerome Powell, Rob Arnott, Harry Robertson, Jay Powell

US futures edge up after Asian stocks plunge despite Fed chair Jay Powell's dovish comments

Federal Reserve chair Jay Powell struck a dovish tone on Tuesday Pool/Getty Images US stock futures nudged higher on Wednesday after Fed chair Jay Powell struck a dovish tone.Powell soothed investors' nerves about rising inflation and bond yields.Yet Asian tech stocks plunged overnight as investors second-guessed the recent rally.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stock futures were mostly steady on Wednesday, edging modestly higher after Federal Res...
Tags: Amazon, Asia, Hong Kong, Europe, UK, Congress, China, Global, US, Trends, Tesla, US Treasury, Federal Reserve, Dow Jones, Fed, Powell

Stocks battle back as Fed's Powell eases inflation, economy concerns

U.S. equity markets staged a dramatic comeback Tuesday with the Dow Jones Industrial Average ending just shy of a record high after Federal Reserve Chairman Jerome Powell reassured investors the central bank would continue to support the economy and that inflation would remain in control.
Tags: Finance, Article, Federal Reserve, Fed, Powell, FBN, Jerome Powell, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/earnings, Fox-business/markets/us-markets, Jonathan Garber, Fox-business/topic/coronavirus, 7acde026-947a-5dc6-9c20-5bbcc26ebbeb

Tech stocks pare deep losses but still decline as Fed's Powell eases concerns over runaway inflation

Traders work, as a screen shows Federal Reserve Chairman Jerome Powell's news conference after the U.S. Federal Reserve interest rates announcement, on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 30, 2019. Brendan McDermid/Reuters US stocks pared losses but closed lower on Tuesday after Fed chair Jerome Powell staved off fears of rampant inflation.Stimulus and reopening could lift price growth, but the effect will likely be small and temporary, Powell said...
Tags: Energy, Elon Musk, New York, New York City, Amc, Value, US, Trends, Markets, Bitcoin, Treasury, Federal Reserve, Biden, Andrew Cuomo, Nasdaq, Dow Jones

The elite's favorite status symbols have become way more expensive over the past 20 years

The elite have turned towards investing in education and health as a means to flaunt their riches. AFP Contributor/Getty Images Services in health care and education have increased in price by over 100% in the past 20 years, per an AEI chart. Meanwhile, consumer goods like new cars, clothing, and TVs have become way more affordable. The split between the two mirrors the rise in discreet wealth, in which immaterial means have become status symbols. Visit the Business section of Insider for ...
Tags: US, Trends, Bloomberg, Ivy League, Federal Reserve, Louis Vuitton, Mark Perry, Thorstein Veblen, AEI, Hillary Hoffower, Elizabeth Currid Halkett, AFP Contributor Getty Images Services, Consider American Enterprise Institute, Currid Halkett, Currid Halkett Discreet

The Fed is looking carefully at issuing a digital dollar, Chairman Jerome Powell tells Congress

Sarah Silbiger/Getty Images Federal Reserve Chairman Jerome Powell told Congress on Tuesday that it is looking carefully at issuing a digital US dollar.Powell called the potential digital dollar a "high priority" project, according to the testimony.The potential issuance of a digital dollar would come amid a surge in cryptocurrencies like bitcoin, which briefly surpassed $1 trillion in market value last week.Sign up here for our daily newsletter, 10 Things Before the Opening BellFederal Re...
Tags: Congress, US, Trends, Markets, Crypto, Trading, Federal Reserve, Cryptocurrencies, Fed, Powell, Jerome Powell, Matthew Fox, Sarah Silbiger, Digital Dollar, Getty Images Federal Reserve, Things Before the Opening BellFederal Reserve

US home prices jumped the most in 7 years in December as the housing-market boom charged into the new year, Case-Shiller says

Homes are seen for sale in the northwest area of Portland, Oregon. Reuters The S&P Case-Shiller US home-price index rose to a 10.4% annualized increase in December, up from 9.5%. The reading marks the strongest pace of price growth in seven years, according to a press release. The data suggests the US housing market ended 2020 strong amid low inventory and record-low mortgage rates. Visit the Business section of Insider for more stories. US home prices surged through the end of 2020 as rec...
Tags: US, Trends, San Diego, Federal Reserve, Shiller, Phoenix Seattle, Craig Lazzara, Ben Winck, Portland Oregon Reuters, Suzanne Mistretta

Nearly 330 small business leaders call for $1.9 trillion stimulus relief package

Ralph Mercier, owner of Mercier's Salon, pauses from hanging up snowflakes in the window of his business in downtown Calais, Maine. Erin Clark/The Boston Globe via Getty Nearly 330 small business leaders signed a letter in support of Biden's $1.9 trillion stimulus. The package includes measures for small business, which has been decimated by the pandemic. PPP loans saved at least 1 million jobs, but small business overall is two-thirds the size of early 2020. Visit the Business section...
Tags: Congress, Trends, Mit, United States, Federal Reserve, Biden, PPP, Boston Globe, National Federation of Independent Businesses, Juliana Kaplan, Ben Winck, Paycheck Protection Program, Small Business for America, Ralph Mercier, Mercier s Salon, Calais Maine Erin Clark

Tech stocks under siege as Fed's Powell heads to Capitol Hill

U.S. stock futures were mixed Tuesday with big tech under siege for a second straight session as traders grapple with the possibility of looming inflation as Federal Reserve Chairman Jerome Powell readies for two days of Congressional testimony.
Tags: Finance, Article, Capitol Hill, Federal Reserve, Fed, Powell, Congressional, FBN, Jerome Powell, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/earnings, Fox-business/markets/us-markets, Jonathan Garber, Fox-business/topic/coronavirus

10 things you need to know before the opening bell

Big Tech recovers after a rough day Wednesday on Wall Street. Matteo Colombo/Getty Images Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.Sign up for Insider Investing for your weekly markets analysis.Here's what you need to know before markets open.1. US tech rout set to continue, after rising bond yields drive sharp sell-off, while bitcoin plunges again. Nasdaq futures were down sharply after the index plunged 2.46% on Monday.2. Elo...
Tags: Home Depot, Asia, Europe, Elon Musk, UK, Congress, US, Trends, Tesla, Hsbc, Ubs, Goldman Sachs, Federal Reserve, ESG, Churchill, SPAC

US tech rout set to continue after rising bond yields drive sharp sell-off, while bitcoin plunges again

US tech stocks tumbled on Wall Street on Monday John Minchillo/AP US futures fell on Tuesday morning after stocks tumbled on Monday, with tech firms down again.Rising bond yields have caused investors to second-guess the recent equities rally.Bitcoin plunged again to around $48,000 after rising past $58,000 the previous week.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The drop in US technology stocks looked set to resume on Tuesday morning, with Nasdaq 100 and S...
Tags: Apple, Amazon, Asia, Hong Kong, Europe, Japan, UK, London, Congress, Wall Street, China, US, Trends, US Treasury, Wti, Easyjet

Tech stocks tumble as investors balk at lofty valuations

Traders work on the floor of the New York Stock Exchange (NYSE) on November 20, 2019 in New York City Spencer Platt/Getty Images US stocks closed mixed with the tech-heavy Nasdaq losing over 2% as investors pivot out of highly-valued tech stocks.SPAC Churchill Capital IV spiked as much as 19% on a report a deal with EV maker Lucid Motors could come as soon as Tuesday.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stocks were mixed on Monday with tech stocks pu...
Tags: Ge, US, Trends, Markets, Oil Prices, Bloomberg, Joe Biden, Bitcoin, Reddit, Goldman Sachs, Federal Reserve, General Electric, Dow Jones, S&P 500, Churchill, Gamestop

Janet Yellen says using bitcoin is an 'extremely inefficient' way to transact

Federal Reserve Chairman Janet Yellen waits for a hearing of the Joint Economic Committee on Capitol Hill, November 29, 2017. Brendan Smialowski/AFP via Getty Images Janet Yellen on Monday said bitcoin is an "extremely inefficient way of conducting transactions."  The Treasury Secretary expressed concern that bitcoin is used "often for illicit finance." The comments come a day after bitcoin hit a new record of $58,042. Sign up here for our daily newsletter, 10 Things Before the Opening Bel...
Tags: Trends, Markets, Bbc, Getty Images, Bitcoin, Netherlands, United Arab Emirates, Treasury, Argentina, Janet Yellen, Norway, Christine Lagarde, Ecb, Federal Reserve, Cryptocurrencies, Yellen

7 reasons why stocks have positive support in the near term despite rising bond yields, according to Fundstrat's Tom Lee

Johannes Eisele/AFP/Getty Images Fundstrat's Tom Lee says any dip in the stock market should be a buying opportunity. A large stimulus, declining COVID-19 cases, and millennial investors are a few reasons Lee says stocks have positive support in the near-term.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Rising bond yields may be giving investors some apprehension about the stock market's trajectory, but Fundstrat's Tom Lee says any dips will be buying opportunit...
Tags: Washington, China, US, Trends, Markets, Treasury, Stocks, Janet Yellen, Federal Reserve, Bonds, FOMC, Fed, Jpmorgan, Lee, Powell, Tom Lee

US stocks fall as investors mull how stimulus will impact inflation

Traders on the floor react before the opening bell on the New York Stock Exchange on March 9, 2020 in New York. Timothy Clary/AFP/Getty Images US stocks fell Monday morning as investors weighed how the next stimulus will impact inflation. Commodity prices are soaring and the 10-year US treasury note is at its highest point in a year.Bitcoin fell 10% after skyrocketing to new records over the weekend.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stocks fell Mond...
Tags: US, Trends, Markets, Oil Prices, Joe Biden, Treasury, Stocks, US Treasury, New York Stock Exchange, Federal Reserve, Stock Market, Wall Street Journal, Dow Jones, S&P 500, Michael Burry, Jerome Powell

COVID relief checks are only controversial in Congress. Americans overwhelmingly support bigger stimulus checks.

Protesters rally demanding economic relief during the coronavirus pandemic in New York City on August 5, 2020. Angela Weiss/AFP via Getty Images Voters are clear: Americans need $1,400 now. The only place this is controversial is Washington. 72% of voters in four key states with moderate senators support the payments, a new poll shows.  Putting money into peoples' pockets is wildly popular. Politicians who oppose increased relief could pay a political price.  Carrie Joy Grimes is chief exe...
Tags: Congress, Washington, New York City, US, America, West Virginia, Trends, Joe Biden, Maine, Alaska, Arizona, Federal Reserve, Biden, Donald Trump, Taylor, Trump

Slower Spending is Avoiding Inflation

Globally, there has been a lot of money printed to fight COVID and stimulate economies. The total US currency in circulation soared to $2.07 trillion by the end of 2020, according to Federal Reserve... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Tags: US, Innovation, Federal Reserve

Wall Street is beginning to say stimulus probably won't spark dangerous inflation

Samuel Corum/Getty Images Republicans argue Biden's stimulus plan will fuel runaway inflation. Wall Street isn't so concerned. Economists at major banks see new aid only modestly lifting inflation while aiding the US recovery. Here's how UBS, BofA, Goldman Sachs, and Deutsche Bank see stimulus affecting inflation in 2021 and beyond. Visit the Business section of Insider for more stories. The debate around passing President Joe Biden's $1.9 trillion aid proposal is a simple one.Democrats a...
Tags: Wall Street, White House, US, Trends, Bank Of America, Joe Biden, Ubs, Deutsche Bank, Goldman Sachs, Federal Reserve, Biden, Goldman, Core, Ruskin, Trump, Fed

Democrats are planning at least another $2 trillion in stimulus spending, shrugging off fears of growing debt

President Joe Biden meets with lawmakers in the Oval Office. Pete Marovich/Pool/Getty Images Democrats are planning at least another $2 trillion in stimulus spending, much of it on infrastructure. Senior Democrats support new taxes on wealthy Americans and large businesses to finance part of a follow-up package. Senate Republicans are likely to press for more targeted spending, and spark a clash in Congress. Visit the Business section of Insider for more stories. Democrats are on course to...
Tags: Texas, Congress, Oregon, Senate, White House, America, Barack Obama, Trends, Joe Biden, Cnn, Treasury, Janet Yellen, Capitol Hill, Oklahoma, Federal Reserve, Biden

Democrats are planning at least another $2 trillion in stimulus spending, shrugging off growing debt

President Joe Biden meets with lawmakers in the Oval Office. Pete Marovich/Pool/Getty Images Democrats are planning at least another $2 trillion in stimulus spending, much of it on infrastructure. Senior Democrats support new taxes on wealthy Americans and large businesses to finance part of a follow-up package. Senate Republicans are likely to press for more targeted spending, and spark a clash in Congress. Visit the Business section of Insider for more stories. Democrats are on course to...
Tags: Texas, Congress, Oregon, Senate, White House, America, Barack Obama, Trends, Joe Biden, Cnn, Treasury, Janet Yellen, Capitol Hill, Oklahoma, Federal Reserve, Biden