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October 25, 2021

Breaking News: Markets

Mastercard says any bank or merchant on its vast network can soon offer crypto services

CNBC
CNBC – For more and to sign up click here Mastercard credit cards Roberto Machado Noa/ LightRocket via Getty Images The crypto economy is about to expand. Mastercard is preparing to announce that any of the thousands of banks and millions of merchants on its payments network can soon integrate......

Stocks making the biggest moves in the premarket: Pinterest, PayPal, Tesla and more

CNBC
CNBC – For more and to sign up click here Take a look at some of the biggest movers in the premarket: Pinterest (PINS) – Pinterest shares tumbled 13.2% in premarket trading after PayPal (PYPL) said it was not pursuing an acquisition of the social media company at this time.......

Wells Fargo has a new virtual assistant in the works and it’s named Fargo

CNBC
CNBC – For more and to sign up click here A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto Chris Helgren | Reuters Wells Fargo is developing a virtual assistant to help it convert more retail banking customers into digital users, CNBC has learned.......

Dow futures fall slightly after the blue-chip average notches third winning week in a row

CNBC
CNBC – For more and to sign up click here Traders work on the floor of the New York Stock Exchange (NYSE) on October 15, 2021 in New York City. Spencer Platt | Getty Images Stock futures edged lower in overnight trading Sunday after the Dow Jones Industrial Average notched......

Twitter and Square CEO Jack Dorsey says ‘hyperinflation’ will happen soon in the U.S. and the world

CNBC
CNBC – For more and to sign up click here Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021. Marco Bello | AFP | Getty Images Twitter co-founder......

Jeffrey Gundlach says inflation will stay above 4% through 2022

CNBC
CNBC – For more and to sign up click here Billionaire bond investor Jeffrey Gundlach said Friday that inflation in consumer prices likely will remain elevated through 2021 and stay above 4% through at least 2022. Citing pressures from shelter costs and rising wages, the head of DoubleLine Capital told......

David Tepper doesn’t think stocks are a great investment here, but says it all depends on rates

CNBC
CNBC – For more and to sign up click here David Tepper, founder and president of Appaloosa Management. David Orrell | CNBC Hedge fund manager David Tepper turned somewhat bearish on the stock market, citing uncertainties around interest rates and inflation. “I don’t think it’s a great investment right year”......

Trump’s social media SPAC surges another 100% after shares quadruple

CNBC
CNBC – For more and to sign up click here The social media app will be developed by Trump Media and Technology Group (TMTG). Rafael Henrique | LightRocket | Getty Images SPAC stands for special purpose acquisition company, which raises money on the public markets with a goal of merging......

Stocks making the biggest moves premarket: Snap, Intel, Zoom Video, Boston Beer & more

CNBC
CNBC – For more and to sign up click here Check out the companies making headlines before the bell: Snap – Shares of the Snapchat parent plunged 19.5% in the premarket after the company warned of slowing growth due to the recent changes in Apple’s iOS privacy rules. Those rules make......

Evergrande sends funds for its $83.5 million bond interest payment, says Chinese media

CNBC
CNBC – For more and to sign up click here China Evergrande Group started returning a small portion of the money owed to buyers of its investment products, weeks after people protested against missed payments at its Shenzhen headquarters, pictured here on Sept. 30, 2021. Gilles Sabrie | Bloomberg |......

Biden’s support is fading as concerns over the economy and Covid grow, CNBC survey finds

CNBC
CNBC – For more and to sign up click here President Joe Biden’s approval rating slipped deeply underwater in the CNBC All-America Economic Survey as Americans soured on his economic leadership, lost some confidence in his handling of the coronavirus, and grew increasingly concerned about inflation and supply shortages. Just......

Shares of Trump-linked SPAC close up 350% following news of social media deal

CNBC
CNBC – For more and to sign up click here The stock price of SPAC company Digital World Acquisition Corp. skyrocketed on extremely heavy trading volume Thursday after news of a merger that would launch former President Donald Trump‘s planned social media platform. DWAC’s stock surged 356.8% to close at......

Stock futures dip slightly after S&P 500 hits new record close

CNBC
CNBC – For more and to sign up click here A specialist trader works inside a booth on the floor of the New York Stock Exchange (NYSE) in New York City, October 6, 2021. Brendan McDermid | Reuters Stock futures dipped slightly in overnight trading Thursday after the S&P 500......

S&P 500 rises to record close, posts 7th straight day of gains on better-than-expected earnings

CNBC
CNBC – For more and to sign up click here The S&P 500 touched a new record on Thursday, joining the Dow Jones Industrial Average in wiping out a two-month swoon amid strong profits and year-end optimism. The S&P 500 rose 0.3% to notch a record close of 4,549.78. It......

Google’s pivot away from bank accounts shows why finance is a tough industry for tech giants

CNBC
CNBC – For more and to sign up click here The logo for Google Pay displayed on a phone screen. Jakub Porzycki | NurPhoto via Getty Images At least one tech giant has decided it’s better to serve banks rather than taking them head on. Google is shuttering its bank......

Cathie Wood compares current crude market to whale oil, predicts it will meet the same fate

CNBC
CNBC – For more and to sign up click here Cathie Wood is calling for a drop in oil prices, likening the crude market to the extinction of whale oil in the early 1900s. “The rise in oil prices this year is a function more of supply than demand. At......

Key inflation gauge watched by the Federal Reserve hits another 30-year high

CNBC
CNBC – For more and to sign up click here Inflation ran at a fresh 30-year high in August as supply chain disruptions and extraordinarily high demand fueled ongoing price pressures, the Commerce Department reported Friday. The core personal consumption expenditures price index, which excludes food and energy costs and......

Stocks making the biggest moves premarket: Merck, Lordstown Motors, Coty, Zoom and others

CNBC
CNBC – For more and to sign up click here Check out the companies making headlines before the bell: Merck (MRK) – Merck shares surged 7.5% in the premarket after it announced that its experimental Covid-19 pill cut the risk of death and hospitalization by 50% in a late-stage study.......

Weekly jobless claims rise more than expected to 362,000

CNBC
CNBC – For more and to sign up click here Initial jobless claims climbed again last week, rising to 362,000 as hiring appeared to remain sluggish while the U.S. continues to fight against the delta variant. Economists surveyed by Dow Jones had been expecting 335,000 new filings, the same number......

Stocks making the biggest moves premarket: CarMax, McCormick, fuboTV, Merck and more

CNBC
CNBC – For more and to sign up click here Check out the companies making headlines before the bell: CarMax (KMX) – The auto retailer missed estimates by 18 cents with quarterly earnings of $1.72 per share, although revenue topped analyst projections. Comparable pre-owned car sales rose 6.2%, less than......

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