Fed Chair Jerome Powell says he won’t resign if Trump tries to remove him – CBS News Watch CBS News Federal Reserve Chairman Jerome Powell said he would not step down if pressured by President-elect Trump. The Fed also cut interest rates by one quarter of a percentage point. MoneyWatch correspondent Kelly O’Grady has the details. Be the first to know Get browser notifications for breaking news, live events, and
With shares down by 78% from an all-time high reached in March, Super Micro Computer (NASDAQ: SMCI) might be one of the first dominoes to fall as the artificial intelligence (AI) hype cycle reaches a possible conclusion. But so far, this crash has little to do with company fundamentals and seems more related to allegedly shady accounting practices and possible wrongdoing. Let’s explore three factors to watch before considering a
U.S. President Donald Trump and China’s President Xi Jinping at the G20 leaders summit in Japan on June 29, 2019. Kevin Lamarque | Reuters BEIJING — China emphasized the need for greater cooperation with the U.S., a day after it became clear President-elect Donald Trump would become the next leader of the White House. “The Chinese side is willing, on the basis of mutual respect, peaceful coexistence and win-win cooperation,
As the market eagerly awaits earnings from artificial intelligence (AI) powerhouse Nvidia (NASDAQ: NVDA), investors will be happy to hear that the company’s CEO, Jensen Huang, has announced a new partnership with Lenovo that will accelerate sales in a key area: enterprise. The lion’s share of Nvidia’s revenue is derived from companies like Microsoft, Meta Platforms, and Amazon. The tech giants use its hardware to build gargantuan server farms that
Trump promises tariffs for economic plan Trump promises tariffs to help pay for economic plans 08:18 One company is already responding to President-elect Trump’s proposed tariffs, which if imposed could result in higher prices for American consumers as retailers pass along added costs on imports to shoppers. Shoemaker Steve Madden says it plans to import fewer goods made in China to the U.S., and replace them with items made in other countries.
(Reuters) -Enphase Energy will cut its global workforce by about 17%, impacting about 500 employees and contractors, it said on Friday, as the solar inverter maker streamlines operations amid slowing residential solar demand. The company, which has been grappling with a deteriorating market for residential solar in Europe, will focus contract manufacturing in four existing locations – two in the US, one in India and one in China. The company
This is a comparison of Thursday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in September. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements. Zoom In IconArrows pointing outwards Source link
Donald Trump‘s election as the 47th president of the United States sent Wall Street into a frenzy, driving major stock indexes to once again break record highs. Investors are betting that Trump’s potential policies — such as lower corporate and individual taxes, coupled with deregulation in the financial sector — will spur growth for corporate America. They may be underestimating the impact of higher deficits and tariffs on inflation. Among
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US stocks capped their best week of the year on Friday after the S&P 500 (^GSPC) briefly hit 6,000 in a market rally spurred by Donald Trump’s White House victory followed by the Federal Reserve’s latest rate cut. The broad-based index rose 0.4% to a new record, while the tech-heavy Nasdaq Composite (^IXIC) closed near the flatline. The Dow Jones Industrial Average (^DJI) gained 0.6% after crossing 44,000 for the
