2024-08-08

Jamie Dimon still sees a recession ahead

JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the U.S. economy are around 35% to 40%, making recession the most likely scenario in his mind. When CNBC’s Leslie Picker asked Dimon if he had changed his view from February that markets were too optimistic on recession risks, he said…

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2024-08-06

WTI hits six-month low on market sell-off

A view of storage tanks and pipelines at the Shell Carson Distribution Complex, a distribution hub for petroleum products, in Carson, California, on March 11, 2022. Bing Guan | Reuters U.S. crude oil futures fell to a six-month low on Monday as equity markets sold off on fears the economy might be teetering on the brink of a recession….

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2024-08-05

Stocks, data and earnings as volatility continues

LONDON — European markets fell sharply at the start of the new trading week, though pared losses towards the end of the session amid a global stock sell-off. The regional Stoxx 600 index closed 2.17% lower, pulling back from declines of more than 3% as the technology sector clawed back some ground to end 0.9% lower. All sectors and…

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2024-08-05

Berkshire Hathaway earnings 2024 Q2

Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024.  David A. Grogan Berkshire Hathaway‘s cash pile swelled to a record $276.9 billion last quarter as Warren Buffett sold big chunks in stock holdings including Apple. The Omaha-based conglomerate’s cash hoard jumped significantly higher from the previous…

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2024-08-04

Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate edged…

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2024-08-03

Intel share plunge drags down global chip stocks from TSMC to Samsung

Pat Gelsinger, chief executive officer of Intel Corp., speaks during the Computex conference in Taipei, Taiwan, on Monday, June 4, 2024. Gelsinger took the stage at the Computex show in Taiwan to talk about new products he expects will help turn back the tide of share losses to peers, including AI leader Nvidia Corp. Photographer: Annabelle Chih/Bloomberg via Getty Images Bloomberg…

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2024-08-02

How Russian hackers stole millions from U.S. investors

WASHINGTON — The White House announced a massive, multinational prisoner swap Thursday between the United States, Russia and other nations. As part of the historic deal, the Russian government released high-profile Americans held in captivity there, including Wall Street Journal reporter Evan Gershkovich, who had been in a Russian prison for more than a year.  Also included in the…

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2024-08-02

Here’s what it means for U.S. tech firms

The European Union’s landmark artificial intelligence law officially enters into force Thursday — and it means tough changes for American technology giants. The AI Act, a landmark rule that aims to govern the way companies develop, use and apply AI, was given final approval by EU member states, lawmakers, and the European Commission — the executive body of the…

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2024-08-02

Investors weigh interest rate outlook

Traders work on the floor of the New York Stock Exchange on July 24, 2024. Spencer Platt | Getty Images Treasury yields fell Thursday as investors digested comments from Federal Reserve Chair Jerome Powell, who suggested a September rate cut was on the table, along with a jump in U.S. jobless claims. The benchmark 10-year Treasury yield traded at…

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