Investors are worried that the Fed will also continue to act, even though there is already evidence that consumers are starting to feel a one-two punch from higher prices and higher interest rates.
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Stocks rallied sharply Monday, thanks to more strong earnings from big banks and a sigh of relief about new plans by the United Kingdom to scrap a controversial tax cut plan.
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Markets plunged on Thursday morning after red-hot inflation data raised fears on Wall Street that the Federal Reserve would continue hiking interest rates aggressively. Then, something strange happened.
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US stocks alternated between slight losses and modest gains Monday before eventually closing higher ahead of the Federal Reserve’s two-day policy meeting later this week.
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Investors will be keeping a close eye on Friday’s August jobs report for further clues about interest rates. Economists are predicting that 300,000 jobs were added last month.
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After a wild several weeks for GameStop, the retailer’s chief financial officer is resigning. The company announced Tuesday that Jim Bell, its executive vice president and CFO, will resign from his roles on March 26. GameStop has started searching for a new CFO “with the capabilities and qualifications to help accelerate GameStop’s transformation,” it said, […]
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Robinhood, the stock trading app that helped fuel GameStop mania and ended up in a PR crisis, is running a Super Bowl ad. The 30-second spot, which will make its TV debut during Sunday’s game, highlights the company’s branding push that it is “opening America’s financial system to everyone.” The commercial features everyday people living their lives and […]
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GameStop traders sent the stock on a wild ride Thursday. The stock plunged more than 40% Thursday after surging nearly 40% at one point earlier in the day. Adding to the drama? Robinhood said it was restricting trading in the red hot stock as well as several others. “We continuously monitor the markets and make changes where necessary. […]