Wholesale egg prices have ‘collapsed.’ Why consumers may soon see relief

Egg shelves in New York on Jan. 21, 2023 with a note apologizing to customers for the price increase. Fatih Aktas/Anadolu Agency via Getty Images Wholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store. But the dynamics of egg pricing from the wholesale … Read more

Stocks making the biggest moves after hours: Chipotle, Enphase Energy, Fortinet and more

A Chipotle restaurant in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Check out the companies making headlines after hours. Chipotle Mexican Grill — Shares fell more than 4% in extended trading after Chipotle Mexican Grill missed analysts’ expectations on the top and bottom lines. The burrito chain reported earnings of $8.29 … Read more

Fed Chief Powell says the disinflationary process has begun, but has a long way to go

Federal Reserve Chairman Jerome Powell said Wednesday that inflation is beginning to ease though he expects it to be a long process. “The disinflationary process, the process of getting inflation down, has begun and it’s begun in the goods sector, which is about a quarter of our economy,” the central bank chief said during an … Read more

Watch Federal Reserve Chair Jerome Powell discuss inflation, interest rates and the economy

[The stream is slated to start at 12:40 a.m.ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Tuesday afternoon in a question-and-answer session with Carlyle Group Chairman David Rubenstein. The event is being held at the Economic Club in Washington, D.C. The … Read more

Stocks making the biggest moves premarket: Chegg, Baidu, Bed Bath & Beyond, Hertz and more

A screen displays the Hertz logo during the Hertz Corporation IPO at the Nasdaq Market site in Times Square in New York, November 9, 2021. Brendan McDermid | Reuters Check out the companies making headlines before the bell: Chegg — Shares dropped 22.7% following its earnings report Monday . The company gave first-quarter and full-year … Read more

5 things to know before the stock market opens Tuesday

U.S. Federal Reserve Chair Jerome Powell addresses reporters after the Fed raised its target interest rate by a quarter of a percentage point, during a news conference at the Federal Reserve Building in Washington, U.S., February 1, 2023. Jonathan Ernst | Reuters Here are the most important news items that investors need to start their … Read more

Fed’s Neel Kashkari says central bank has not made enough progress, keeping his rate outlook

Minneapolis Federal Reserve President Neel Kashkari said Tuesday that explosive jobs growth in January is evidence that the central bank has more work to do when it comes to taming inflation. That means continuing to raise interest rates, as he sees a likelihood that the Fed’s benchmark borrowing rate should rise to 5.4% from its … Read more

U.S. is ‘absolutely’ behind on supply chain independence from China, Biden advisor says

The U.S. has some rapid catching up to do if it is to secure the reliability of its supply chain and its independence from competitors like China, a top White House advisor admitted this week. “Look, this is a major concern for the U.S. and I think for the rest of the world. As we … Read more

Biden to deliver State of the Union address amid high inflation and divided Congress that threaten to derail economy

WASHINGTON — If his recent speeches are any indication, U.S. President Joe Biden will likely celebrate his handling of the economy in his State of the Union address to Congress on Tuesday, citing decades-low unemployment, slowing inflation rates and robust GDP growth. But the full picture is far more complicated. The U.S. economy is in … Read more

35% of millionaires say retirement is ‘going to take a miracle,’ report finds

Why $1 million may not feel like enough The 4% rule is a popular guideline for retirees to determine how much money they can live on each year without fear of running out later. It suggests that retirees can safely withdraw 4% of their investments (adjusted for inflation) each year in retirement. “A million may … Read more

Stocks making the biggest moves premarket: Tyson Foods, PayPal, Children’s Place and more

Tyson food meat products are shown in this photo illustration in Encinitas, California. Mike Blake | Reuters Check out the companies making headlines in premarket trading. Tyson Foods – Shares of the food processing giant suffered a 6% drop in premarket trading after the company reported weaker-than-expected results for the first quarter. Earnings came in … Read more

Former UK PM Liz Truss is blaming the left-wing ‘economic establishment’ for ousting her

British Prime Minister Liz Truss announces her resignation, outside Number 10 Downing Street, London, Britain October 20, 2022. Henry Nicholls | Reuters LONDON — Former U.K. Prime Minister Liz Truss is blaming a “powerful economic establishment” for bringing her chaotic 44-day tenure to an end last year. Truss resigned in Octoberbecoming the shortest-serving prime minister … Read more

5 things to know before the stock market opens Monday

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 01, 2023 in New York City. Michael M. Santiago | Getty Images Here are the most important news items that investors need to start their trading day: 1. February heat check Even with mixed economic signals, worries that … Read more

How Zelle is different from Venmo, PayPal and CashApp

More than half of smartphone users in the U.S. are sending money via some sort of peer-to-peer payment service to send money to friends, family and businesses. Stocks of payment services like PayPal, which owns Venmo, and Block, which owns Cash App, boomed in 2020 as more people began sending money digitally. related investing news … Read more

Stocks making the biggest moves midday: Amazon, Alphabet, Apple, Nordstrom, Ford and more

Workers load packages into Amazon Rivian Electric trucks at an Amazon facility in Poway, California, November 16, 2022. Sandy Huffaker | Reuters Check out the companies making headlines in midday trading. Amazon – The e-commerce giant’s stock tumbled 4% despite a revenue beat. Late Thursday, Amazon issued weaker-than-expected guidance for the current period. The company … Read more

Payrolls increased by 517,000 in January, crushing estimates, as unemployment rate hit 53-year low

The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their strongest gain since July 2022. Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December’s gain of 260,000. The unemployment rate fell to 3.4% versus the estimate for 3.6%. That is the lowest … Read more

5 things to know before the stock market opens Friday

A man walks past the Nasdaq MarketSite in New York on Jan. 28, 2022. Michael Nagle | Bloomberg | Getty Images Here are the most important news items that investors need to start their trading day: 1. Tech letdown Meta raised everyone’s hopes with its refreshing talk of efficiency Wednesday, but the Facebook parent ultimately … Read more

Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker

Ford CEO Jim Farley is frustrated. The company’s fourth-quarter earnings on Thursday missed analyst expectations by a wide margin, as costs and supply chain issues again hurt Ford’s bottom lineFarley knows his company needs to change. related investing news “We have to change our cost profile,” Farley told CNBC after a call with analysts to … Read more

Blackouts, currency dives and corruption: Pakistan’s economy is on the brink of collapse

People light a bonfire to warm themselves during a nationwide power outage, in Muzaffarabad on January 23, 2023. Sajjad Qayyum | Afp | Getty Images Pakistan’s economy is on a cliff-edge. The South Asian country this week suffered a horrific bombing attack on a mosque that took at least 100 lives. On Jan. 24, the … Read more

Hong Kong will give away half a million plane tickets. Here’s who can get them first

Hong Kong’s new global promotional campaign will “kickstart” the city’s reopening to international travelers, the Hong Kong Tourism Board told CNBC’s “Squawk Box Asia” on Friday. As part of the “Hello Hong Kong” campaign, which was launched on Thursday, 500,000 air tickets will be given away over the next six months, starting in March. The … Read more

Stocks making the biggest moves midday: Meta, Align Technology, Coinbase, Eli Lilly and more

The Commission took issue with Meta’s pairing of Facebook Marketplace with its personal social network. Budrul Chukrut | SOPA Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Meta — The tech giant’s shares jumped 23.28%, marking its strongest day in nearly a decade. Late Wednesday, Meta reported revenue … Read more

Opinion: Why Beijing is cheering on the U.S. debt ceiling fight

The U.S. Capitol Building is seen on January 19, 2023 in Washington, DC. Anna Moneymaker | Getty Images The contours of divided government in Washington are now clear: The main point of contention is the looming debt ceiling deadline, and the main area of agreement is addressing systemic competition with Communist China. While they can … Read more

Watch live: ECB President Christine Lagarde speaks after rate decision

[The stream is slated to start at 8:45 a.m. ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Christine Lagarde is due to give a press conference following the bank’s latest monetary policy decision. The ECB on Thursday confirmed expectations of a 50 basis point … Read more