The Federal Reserve raised its target federal funds rate by a quarter percentage point from near zero at the end of its two-day meeting Wednesday. The first increase in the benchmark rate in three years will lay the groundwork for six more hikes by year’s end. “The war in Eastern Europe gives the Fed reason to act more cautiously, but
A look ahead to the Federal Reserve’s Open Market Committee meeting next Tuesday.
Consumers continued to spend in February through at a slower pace than expected, according to a Commerce Department report Wednesday. Advance retail sales grew 0.3% for the month, slightly below the 0.4% Dow Jones estimate. Stripping out autos, sales were up 0.2%, well below expectations for a 0.9% increase and indicative that after a rapid
A pedestrian walks past the Alibaba headquarters building in Beijing. Sheldon Cooper/SOPA Images | LightRocket | Getty Images Shares of Chinese companies listed publicly in the U.S. surged Wednesday as China on Wednesday signaled support for the stocks. Regulators from both countries are progressing toward a cooperation plan on U.S.-listed Chinese stocks, according to Chinese
A woman wearing a protective mask walks past the New York Stock Exchange on March 12, 2020 in New York City. Pablo Monsalve | VIEWpress | Corbis via Getty Images Two years ago, on March 16, 2020, stock markets suffered a one-day 12% drop. From Feb. 19 to March 23 of that year, when the
In his State of the Union Address, President Biden called for leveling the global research & development (R&D) playing field by increasing federal R&D spending, specifically by asking Congress to pass the bipartisan United States Innovation and Competition Act (USICA). While USICA proposes increasing government investment in R&D, it does not address a recent tax
A home stands for sale in a Brooklyn neighborhood on New York City. Spencer Platt | Getty Images A sharp jump in mortgage rates last week soured demand from both current homeowners and potential homebuyers, causing mortgage applications to drop. With rates now back on the expected upward trajectory, following a brief drop at the
Jim Cramer advised investors on Tuesday to use rallies as an opportunity to sell and better handle volatility in the currently tumultuous market. “When things look really horrible and we’ve been down for days and days and days, you don’t need to despair, you just need to be more clever. Raise some cash on the
Stock futures were flat in overnight trading after the major indexes rallied and oil prices tumbled below $100 a barrel ahead of Wednesday’s Federal Reserve meeting. Futures on the Dow Jones Industrial Average dipped 30 points, while S&P 500 futures fell 0.1% and Nasdaq 100 futures were flat. The gains came ahead of a critical
Sunny Balwani, former president and chief operating officer of Theranos Inc., leaves federal court in San Jose, California, Oct. 2, 2019. Michael Short | Bloomberg | Getty Images He was the man behind the lab curtain at blood-testing start-up Theranos. Now he takes center stage in his own criminal fraud case. Opening arguments in the
Yongyuan | E+ | Getty Images Workers who save in a 401(k) plan offered by a small business pay fees that are twice as high as those paid by employees who work at the largest companies in the U.S. The smallest workplace retirement plans (those with less than $25 million in aggregate savings) charge total
This week’s map examines states’ rankings on the individual income tax component of our 2022 State Business Tax Climate Index. The individual income tax is important to businesses because states tax sole proprietorships, partnerships, and in most cases limited liability companies (LLCs) and S corporations under the individual income tax code. However, even traditional C corporations are