Dow futures surge more than 400 points as the market is set to rebound from a brutal week
Major averages suffered their 10th losing week in 11 on fears that the Fed will hike rates aggressively to tame inflation at the risk of causing a recession.
Financial News
Look for more selling pressure in week ahead as investors learn the hard way not to fight the Fed
After a brutal week for markets, Fed Chair Jerome Powell will testify before Congress about the central bank’s increasingly aggressive plan to fight inflation.
Bitcoin briefly dropped below $17,800 as sell-off accelerates — here’s what happened
Bitcoin fell below $17,800, and ether fell under $920, as the sell-off in the crypto market accelerates.
Russia’s Putin lashes out over Western sanctions ‘blitzkrieg,’ claims Ukraine invasion was forced
Russia’s Putin has claimed his hand was forced over Moscow’s invasion of Ukraine and sharply criticized a “blitzkrieg” of Western economic sanctions.
A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’
The trouble is, the Fed’s likely to get a recession anyway as data shows the economy is a far cry from stable.
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
The Federal Open Market Committee released its decision on interest rates Wednesday, with markets expecting a three-quarter point hike.
China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain
China released economic data for May that topped muted expectations for a month hampered by Covid controls.
U.S. holds ‘candid’ and ‘productive’ talks with China in nearly 5-hour meeting
A senior administration official described the talks, which were held in Luxembourg, as “candid, in-depth, substantive and productive.”
Global food prices are soaring. Rice could be next
Food prices and export bans have been on the rise. Rice, a staple food in much of Asia, could be next, industry watchers say.
The Fed will raise rates in the week ahead, but what Chair Powell says may matter most
The Federal Reserve meets next week, and while opinion is unanimous it will raise rates, markets are hinging on what Chair Powell says about future hikes.