A Qualcomm sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Aly Song | Reuters Check out the companies making headlines after the bell: Qualcomm – The semiconductor company’s stock dropped about 4% in extended trading though the company beat analysts’ estimates on both the top and […]
Tag: business news
Fed’s Mary Daly says current interest rates put economy ‘in a good place to weather the storms’
San Francisco Fed President Mary Daly said Wednesday that she did not think the Fed needs to lower interest rates to offset the effects of the coronavirus outbreak or other economic headwinds. Appearing on CNBC’s “Power Lunch,” Daly said she did not think the outbreak would do anything “material” to the U.S. economy, even with […]
70% chance of recession in next six months, study from MIT and State Street finds
There’s a 70% chance that a recession will hit in the next six months, according to new research from the MIT Sloan School of Management and State Street Associates. The researchers created an index comprised of four factors and then used the Mahalanobis distance — a measure initially used to analyze human skulls — to […]
Weekly mortgage refinance applications jump 15%
Homeowners rushed to take advantage of the sharp drop in interest rates last week. Refinance demand pushed mortgage application volume up 5% for the week to the highest level since 2013, according to the Mortgage Bankers Association’s seasonally adjusted index. Purchase demand, however, dropped. The average contract interest rate for 30-year fixed-rate mortgages with conforming […]
S&P 500 is headed for a record close, fully erasing the coronavirus-related losses of past 2 weeks
Stocks rose on Wednesday, pushing the S&P 500 back to levels hit prior to the coronavirus scare. The broad index traded 1.1% higher, led by strong gains in the energy, financials and health care sectors. That gain put the S&P 500 on pace to notch a record closing high. It also erased its losses stemming from fears […]
WHO says there are ‘no known’ treatments, ECB chief says outbreak fuels economic uncertainty
This is a live blog. Please check back for updates. All times below are in Eastern time. Total cases: More than 24,000 as of Wednesday morning.Total deaths: At least 490 worldwide as of Wednesday morning. 8 am: ECB chief says outbreak ‘adds a new layer of uncertainty’ to global growth The president of the European […]
Top moments and highlights from Trump speech
President Donald Trump delivers his State of the Union address to a joint session of the U.S. Congress in the House Chamber of the U.S. Capitol in Washington, U.S. February 4, 2020. Leah Millis | Reuters In the chamber where he was impeached, President Donald Trump on Tuesday delivered his third State of the Union […]
Democrats say they won’t use the failed Iowa app in Nevada caucuses
Caucus participants arrive to register in Des Moines, Iowa, U.S. February 3, 2020. Brian Snyder | Reuters The chair of the Democratic National Committee said on Tuesday that Democrats will not use the app involved in the disastrous Iowa caucuses for the Nevada election contest scheduled for Feb. 22 after reports showed that the state party […]
Ford, Snap, Match Group and more
Visitor walk past a Ford Escape Titanium at the Shanghai Auto Show in Shanghai on April 17, 2019. Greg Baker| AFP | Getty Images Check out the companies making headlines after the bell: Ford – The automaker’s stock dropped 10% in extended trading after the company missed on earnings but beat revenue in its fourth-quarter […]
Dow up big, Tesla tops $900 in parabolic move
Tesla CEO Elon Musk speaks during the unveiling of the new Tesla Model Y in Hawthorne, California on March 14, 2019. Frederic J. Brown | AFP | Getty Images This is a live blog. Check back for updates. 3:11 pm:Â Tesla soars 21% at session high Shares of Tesla surged 21% to its session high of […]
