The yield on the 10-year Treasury surged Friday as investors assessed a strong nonfarm payrolls number for May that fueled concerns that the Federal Reserve may not cut rates as soon as expected. The yield on the 10-year Treasury jumped nearly 15 basis points to 4.43%. The 2-year Treasury yield rose about 17 basis points … Read more
BENTONVILLE, Ark. — When Gil Curren’s family moved into a run-down farmhouse in Walmart’s hometown of Bentonville, Arkansas, in 1971, the now-retail giant wasn’t yet a decade old. Sometimes, the nearby creek would flood, and cows would break loose onto the dirt road in front of his home. Now, when the 88-year-old retiree looks outside … Read more
Lina Khan, chair of the Federal Trade Commission, speaks during the 2024 CNBC CEO Council Summit in Washington, D.C. on June 4, 2024. Shannon Finney | CNBC The Federal Trade Commission is preparing an antitrust lawsuit against the largest U.S. alcohol distributor, Southern Glazer’s Wine and Spirits, two sources familiar with the matter told CNBC. … Read more
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.] President Joe Biden is set to deliver remarks at the White House on Tuesday about his newly signed executive order tightening asylum restrictions at the U.S.-Mexico border. The executive order … Read more
The world economy is headed for a soft landing, inflation is going down, and rate cuts are coming, according to Kristalina Georgieva, International Monetary Fund managing director, but she says the rise of trade restrictions, including tariffs, from the world’s largest economies is the “most worrisome” risk to global growth. “Trade is slowing down even … Read more
SDI Productions | E+ | Getty Images A gradual cooling of the labor market has made it tougher to find a new job, but overall conditions are still favorable for job seekers. “Things have gotten competitive,” said Julia Pollak, chief economist at ZipRecruiter. “Don’t get discouraged; there are opportunities out there,” she added. “This is … Read more
President Joe Biden delivers remarks about immigration and border security on February 29, 2024 in Olmito, Texas. Cheney Orr | Getty Images President Joe Biden’s new executive order tightening asylum limits at the U.S.-Mexico border could have the double-edged economic effect of tightening labor markets, while also easing supply chain bottlenecks between the two countries, … Read more
Early in her career, Kelly Harry worked at a major news organization in New York City as an account executive in ad sales. “I was making $40,000 a year, and I really thought that that was a lot of money at the time, until I had a casual conversation with my co-worker who was actually … Read more
A customer views a digital menu at the drive-thru outside a McDonald’s restaurant in Peru, Illinois. Daniel Acker | Bloomberg | Getty Images Fast-food restaurants are caving to consumers’ inflation-weary wallets by returning value pricing to their menus — for a limited time. McDonald’s is offering a $5 value menu this month. Wendy’s is rolling out … Read more
Chocolate’s key ingredient has soared in commodities markets throughout 2024. Spot prices for cocoa began the year around $4,200 an ounce, then hit an all-time high of more than $12,000 an ounce in late April before settling above $9,000. Factors such as crop disease, El Niño, farm-gate prices and market speculation all played big roles … Read more
