Category: United States

Former U.S. Treasury Secretary, Larry Summers, has said markets may be underestimating the risks posed by an upsurge in political turmoil that threatens to undermine the basic order and stability that has underpinned America’s economic growth in recent decades.  The American economist said the risks of political strife are “really, very substantially greater” now than […]

Jensen Huang saw his net wealth increase by $ 9.6 billion on Thursday following a major surge in Nvidia’s share price that has lifted the wealth of the world’s richest billionaires, according to Bloomberg’s Billionaire Index.   The Nvidia CEO saw his overall wealth increase to $ 69.2 billion after shares in the California chip maker […]

AT&T Inc. said Thursday its cellular network has been restored, after widespread “wireless service interruptions” affected some of its customers earlier in the day, following user reports of outages. Tens of thousands of AT&T T, -2.41% users had flagged service disruptions on Downdetector shortly after 11 a.m. Eastern time. AT&T said it took “immediate action” […]

Social-media platform Reddit — the home of AMAs, Wall Street Bets and thousands of other online communities — publicly filed its registration statement for an IPO on Thursday, detailing plans to push further into advertising, data sales and analytics, and what it called its budding user-driven economy. The company, founded in 2005, plans to trade […]

Federal Reserve Gov. Chris Waller said there’s “no rush” to reduce U.S. interest rates in light of stronger-than-expected readings on inflation and economic growth early in the new year. “The data that we have received since my last speech [on Jan. 16] has reinforced my view that we need to verify that the progress on […]

Federal Reserve Gov. Lisa Cook said Thursday that inflation has slowed faster than expected, but central bank officials need “greater confidence” that price pressures are returning to low pre-pandemic norms before cutting interest rates. Cook and a parade of Fed officials in the past few weeks have stressed that the battle against inflation is not […]

Another round of robust U.S. data is set to arrive next week, raising questions in the financial market about whether the economy can continue to avoid buckling under the weight of the highest interest rates in over two decades. The first revision to fourth-quarter gross domestic product is set to be released next Wednesday, followed […]

Royal Caribbean Cruises Ltd. launched a private offering of $ 1.0 billion of senior-secured eight-year bonds on Thursday, tapping the high-yield bond market for the first time in 2024. Proceeds of the deal will be used along with cash on hand and/or borrowings under the cruise operator’s revolving credit facilities to repay more expensive debt, […]

The Nikkei 225 — an oddly constructed index covering the top 225 Japanese companies — is back at levels not reached since 1989. The Nikkei 225 JP:NIK rallied 2.2% Thursday to finish at 39,098.68, taking out the Dec. 1989 peak of 38,916 in the process. “Although the most recent push to these levels has been […]

European stocks were on course for a new record high for the first time in more than two years as the semiconductor sector got a fresh leg up from Nvidia’s sparkling results. The STOXX Europe 600 index XX:SXXP, which represents a continent-wide list of the bigger stocks, at one point in morning trade Thursday was […]

Tim Whistler’s credit-card debt gradually grew to about $ 8,000. The cost of everyday products rose, his monthly rent jumped from $ 1,000 to $ 1,400 over four years, and then last year, his son was born, adding entirely new categories of expenses. Like a growing number of Americans, his credit-card debt now exceeds what […]

Dear Quentin, I’ve been reading your articles for years — and now I need help.  I am in my early 50s, divorced and working full time, and have been raising my only child, a teenage daughter, alone for the past 12 years. My daughter is estranged from her father, who pays child support. We live […]

Etsy Inc.’s stock fell 8% in extended trading Wednesday after the company posted a quarterly earnings miss and warned of a soft beginning to its fiscal year. The online marketplace ETSY, +1.66% reported fiscal fourth-quarter net income of $ 83.3 million, or 62 cents a share, compared with net income of $ 109.5 million in […]

A chart comparing Nvidia Corp.’s performance to that of Cisco Systems during the dot-com bubble years certainly looks ominous. Perhaps that is why the chart, or various versions of it, has been making the rounds on X, the social-media platform formerly known as Twitter, while also finding its way into Wall Street research reports — […]

More Federal Reserve officials are concerned about cutting interest rates too quickly than are worried about going too slowly, according to minutes of the Fed’s late January policy meeting, released Wednesday. “Most” officials noted the risks of moving too quickly to cut rates and wanted to carefully assess the data for more progress on inflation, […]

Bausch & Lomb Corp.’s stock soared 10% early Wednesday after the eye-care company reported adjusted fourth-quarter profit that topped estimates and offered upbeat revenue guidance for 2024. The Vaughan, Ont.-based company BLCO, +8.16% had a net loss of $ 54 million, or 15 cents a share, for the quarter, after a loss of $ 1 […]

Social-media company Reddit is planning to offer shares in its initial public offering to 75,000 of its biggest users when it hits the market next month, the Wall Street Journal reported Wednesday, citing people familiar with the matter. The move is aimed at building loyalty, but could backfire if the stock falls in its debut. […]

Top hedge funds have started cutting their exposure to the Magnificent Seven tech giants, despite having generated gains due to the bumper returns provided by the popular mega-cap tech companies in 2024 so far, new analysis from Goldman Sachs shows.  Hedge funds continued to be heavily invested in the Magnificent Seven – Alphabet GOOG, +0.31%, […]

Japan’s exports increased in January thanks to higher demand for cars and semiconductor-manufacturing equipment, data from the Ministry of Finance showed Wednesday. Exports rose 11.9% from a year earlier in January, compared with a 9.7% increase in December. The result was higher than a 9.4% rise expected by economists polled by data provider FactSet. Exports […]

Beyond BYON, +4.98%, the owner of Bed Bath & Beyond and Overstock, said revenue fell in the latest quarter and that it is reviewing its portfolio to meet its full-year financial goals. The location-based online retailer posted fourth-quarter loss of $ 161 million, or $ 3.55 a share, compared with a loss of $ 15.5 […]