Stocks close higher on Friday, Nasdaq posts fourth week of gains

Stocks close higher on Friday, Nasdaq posts fourth week of gains

Shares rose on Friday and capped a winning week fueled by better-than-expected economic growth and a rise in Tesla shares. The Nasdaq Composite jumped 0.95% to 11,621.71, while the S&P 500 gained 0.25% to close at 4,070.56. The Dow Jones Industrial Average added 28.67 points, or 0.08%, to end at 33,978.08. All major averages posted … Read more

Here’s the real reason American Express offers such big rewards

Here’s the real reason American Express offers such big rewards

Armed with impressive rewards and a loyal customer base, AmEx is a giant in the credit card industry. The company’s revenue has grown more than 32% since 2017, when adjusted for inflation, and the company’s shares have shown resilience and growth in a tumultuous market. “Rebate revenue,” or fees charged to merchants who accept its … Read more

What is a “continuing recession” and are we there? Experts explain

What is a “continuing recession” and are we there?  Experts explain

By most indicators, the US economy is doing well. Although the first half of 2022 started with negative growth, a strong labor market and a resilient consumer helped turn the tide and provide hope for the year ahead. Gross domestic product, which tracks the overall health of the economy, rose more than expected in the … Read more

PCE data shows further decline in Fed’s favorite inflation gauge

PCE data shows further decline in Fed’s favorite inflation gauge

Text size The Fed is closely monitoring labor market tensions as a barometer of the health of the US economy. Above, a worker at Chick-fil-A in Texas. Brandon Bell/Getty Images The Federal Reserve’s preferred measure of inflation rose 4.4% annually in December, from 4.7% in November, the latest sign that the era of scorching prices … Read more

Intel, Chevron, American Express, Silvergate and more

Intel, Chevron, American Express, Silvergate and more

Intel said on April 5, 2022 that it had suspended all business operations in Russia. Pictures by Paco Freire/Sopa | Light flare | Getty Images Check out the companies making headlines before the bell: Intel — The chipmaker suffered a 9% loss in its shares early in the morning after its latest financial results missed … Read more

Energy giants set to break annual profit records

Energy giants set to break annual profit records

US President Joe Biden previously pointed the finger at Exxon Mobil for making “more money than God” last year. Brandon Bell | Getty Images Some of the world’s biggest oil and gas companies are poised to report record annual profits, raking in extraordinary revenues after a year of volatile fossil fuel prices amid Russia’s assault … Read more

investors await key inflation report

investors await key inflation report

Treasury yields rose on Friday as investors awaited key inflation figures and gauged the outlook for the U.S. economy after Thursday’s gross domestic product report came in better than expected. As of 4:35 a.m. ET, the benchmark return 10-year cash flow rose more than four basis points to 3.5367%. The Cash 2 years the yield … Read more

Microsoft and ArcelorMittal back clean steel spinoff from MIT Boston Metal

Microsoft and ArcelorMittal back clean steel spinoff from MIT Boston Metal

Removing molten iron from a pilot-scale facility at Boston Metal’s facility in Woburn, Mass. Photo courtesy of Boston Metal The $1.6 trillion steel industry is the backbone of the modern world. It is also a significant contributor to global warming, accounting for between 7% and 9% of global carbon dioxide emissions, according to the World … Read more

Asia-Pacific stocks rise as Tokyo inflation nears 42-year high

Asia-Pacific stocks rise as Tokyo inflation nears 42-year high

Adani shares plunge further for second straight day of losses Shares of Adani Group companies continued to post steep losses for a second consecutive trading session in India after short-selling firm Hindenburg announced its short position in the conglomerate companies earlier this week. Adani refuted the allegations in two separate statements, adding that the group … Read more

Adani shares fall further as they consider legal action against Hindenburg

Adani shares fall further as they consider legal action against Hindenburg

Adani Group Chairman and Founder Gautam Adani during the News18 Rising India Summit on February 25, 2019 in New Delhi, India. Since becoming a billionaire in 2008, Adani is now one of the richest people in the world, with a fortune of $113 billion, according to the Bloomberg Billionaires Index. Hindustan Times | Hindustan Times … Read more