An aerial photo is showing containers at Beilun Port in Ningbo, Zhejiang province, China, on April 11, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — One of China’s highest-traffic ports, Ningbo-Zhoushan in Zhejiang province, reported an explosion on board a container ship on Friday afternoon, according to state news agency Xinhua. No casualties or…
JPMorgan upped the likelihood it sees for the U.S. economy entering a recession this year, the latest sign of concern around the country’s financial health following the market turbulence this week. The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in…
Berkshire Hathaway now owns more in Treasury bills than the U.S. Federal Reserve as Warren Buffett builds up his cash fortress to a record level. The Omaha-based conglomerate held $234.6 billion in short-term investments in Treasury bills by the end of the second quarter, while it owned more than $42 billion of cash and cash equivalents…
Check out the companies making headlines before the bell. Disney — Shares were down about 1% after the media giant reported quarterly results that beat analyst expectations, thanks in part to strong performance at its streaming unit. The company earned $1.39 per share, excluding items, on revenue of $23.16 billion. Analysts expected a profit of…
The U.S. Federal Reserve does not need to make an emergency rate cut, despite recent weaker-than-expected economic data, according to Claudia Sahm, chief economist at New Century Advisors. Speaking to CNBC “Street Signs Asia,” Sahm said “we don’t need an emergency cut, from what we know right now, I don’t think that there’s everything that…
Investors may want to consider bonds to help navigate the market’s recent volatility. Joanna Gallegos, BondBloxx co-founder and CEO, recommends prioritizing income and high-yield bonds. “It can be really important to start looking at fixed income as you start to diversify and manage more risk,” she told CNBC’s “ETF Edge” on Monday. Gallegos also suggests…
Check out the companies making headlines in midday trading. Airbnb — The online booking company plunged 13% after second-quarter earnings missed Wall Street estimates. Airbnb reported earnings of 86 cents per share, while analysts polled by LSEG were looking for 92 cents. The company also said it’s seeing signs of slowing demand from its U.S.…
Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts’ estimates for its second quarter. Kenvue, which was spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet.…
Check out the companies making headlines before the bell: Palantir Technologies — The data analytics company rallied 11% after raising its full-year revenue forecast. Palantir now sees revenue between $2.74 billion and $2.75 billion. That’s up from a range of $2.68 billion to $2.69 billion. Yum China — Shares surged 8% after the Shanghai-based operator…
Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024. Graeme Sloan | Bloomberg | Getty Images San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be…
