John Collison, president and co-founder of Stripe. Christophe Morin | IP3 | Getty Images Rising interest rates crushed technology valuations and had a chilling effect on Silicon Valley. Stripe’s co-founder says it was needed. “Broadly speaking, the effects of higher rates have been quite good,” John Collison, president of the online payments company, told CNBC … Read more
The Japan flag is juxtaposed against a Japanese yen bank note. Javier Ghersi | Moment | Getty Images The yen slipped past 155 against the U.S. dollar on Thursday, touching a new 34-year low against continued strength in the greenback. The weakness comes as the Bank of Japan is due to release its monetary policy … Read more
US Federal Reserve Board Chairman Jerome Powell arrives to testify at a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report,” on Capitol Hill in Washington, DC, March 6, 2024. Mandel Ngan | Afp | Getty Images With the economy humming along and the stock market, despite some recent twists and … Read more
Federal Reserve Chair Jerome Powell speaks during a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report” on Capitol Hill in Washington, U.S., March 6, 2024. Bonnie Cash | Reuters If there was any doubt before, Federal Reserve Chair Jerome Powell has pretty much cemented the likelihood that there won’t be … Read more
Financial Counsellor and Director of the Monetary and Capital Markets Department Tobias Adrian hold the press briefing of the Global Financial Stability Report at the International Monetary Fund during the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC, United States on April 16, 2024. Anadolu | … Read more
Just weeks ago, it all felt so easy. Jerome Powell was poised to kick off the great monetary pivot in earnest thanks to the steady demise of inflation, while Corporate America’s famous profit machine vindicated the euphoria on Wall Street and beyond. Now after a week of geopolitical tensions and bond volatility, life is getting … Read more
Federal Reserve officials at their March meeting expressed concern that inflation wasn’t moving lower quickly enough, though they still expected to cut interest rates at some point this year. At a meeting in which the Federal Open Market Committee again voted to hold short-term borrowing rates steady, policymakers also showed misgivings that inflation, while easing, … Read more
Treasury yields climbed on Friday after closely watched nonfarm payrolls data for March surged past expectations. The 10-year Treasury yield jumped 6 basis points to 4.371%. The benchmark note on Wednesday briefly touched a new 2024 high of 4.429%. The 2-year Treasury yield was also higher by 8 basis points at 4.719%. Yields and prices … Read more
Robert Iger, President and CEO of Walt Disney Company announces a $5 million dollar donation with Mickey Mouse for the New Hospital Building at Children’s Hospital Los Angeles, October 30, 2006 in Los Angeles, California. Bob Riha Jr | Archive Photos | Getty Images This report is from today’s CNBC Daily Open, our international markets … Read more
The trading floor of the New York Stock Exchange (NYSE) prepares for Reddit’s initial public offering (IPO) on March 21, 2024 in New York City. The social media platform Reddit priced its IPO in the range of $31 to $34 per share on Wednesday. Spencer Platt | Getty Images Even with hot artificial intelligence startups … Read more
