The market is expecting too many cuts from the Federal Reserve this year, widely followed economist Mohamed El-Erian said Friday. “We as the market base have gotten carried away — carried away thinking it will be 50 basis points in July, thinking we’re going to get three cuts by the end of the year,” El-Erian
Finance
Revolut CEO Nikolay Storonsky speaks onstage at the TechCrunch Disrupt conference in San Francisco, California. Kimberly White | Getty Images “Get sh– done.” Those are the words on a neon sign at fast-growing fintech firm Revolut’s London headquarters. The first two letters of the word in the middle aren’t lit up, though, so it read
A trader works ahead of the closing bell on the floor of the New York Stock Exchange, June 19, 2019 in New York City. Drew Angerer | Getty Images Government policy uncertainty and a poor earnings outlook will keep the stock market from rallying any further this year, according to Goldman Sachs. Low interest rates
Ten years into the recovery, the economy’s ability to create new jobs may be slowing both because the U.S. is running out of workers, and also because the trade war may be worrying employers. Economists expect to see 165,000 jobs were added in June, after a stunningly low 75,000 payrolls added in May, according to
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters A truce between the U.S. and China has convinced Barclays that a market “mini bubble” is looming. With the G-20 outcome fueling optimism for an eventual trade deal, the stage is almost set for a market “melt-up” as Barclays now
Economist, Art Laffer is pictured in Washington, DC on Sunday, March 8, 2015. Sarah L Voisin | The Washington Post | Getty Images President Donald Trump‘s newest picks for the Federal Reserve board should easily gain Senate approval, economist Art Laffer told CNBC’s “Closing Bell ” on Wednesday. “I don’t see why there should be
Pedestrians walk past automated teller machines (ATM) at a United Overseas Bank Ltd. (UOB) branch in the central business district (CBD) of Singapore. Ore Huiying | Bloomberg | Getty Images Singapore’s decision to issue new digital bank licenses to non-banking companies will adversely affect smaller banks in the sector, said ratings agency Moody’s. Last week,
A visitor exits Symantec headquarters in Mountain View, Calif., Aug. 24, 2010. Tony Avelar | Bloomberg | Getty Images Symantec shares surged more than 20% in extended trading on Tuesday after Bloomberg reported that Broadcom is in advanced talks to acquire the security software vendor. Symantec has been plagued in recent years by management turmoil
Drivers should pay about a dime less per gallon for gasoline over the Fourth of July holiday than last year, even with a major refinery outage and new taxes in about a dozen states. A record 41.4 million people are expected to travel on the nation’s roadways over the long holiday weekend, an increase of
Chinese Premier Li Keqiang addresses a press conference on Nov. 28, 2017. Attila Kisbenedek | AFP | Getty Images DALIAN — Chinese Premier Li Keqiang on Tuesday pledged to an assembly of global business leaders and government representatives that Beijing will push to create an equal playing field in the country for all companies. As