New York CNN Business – Tuesday’s market rally was brief. Stocks opened higher but quickly gave up their gains. A more than 5% drop in oil prices, while welcome news to consumers, led to a big sell-off in energy stocks. The Dow was down nearly 310 points, or 1%. Shares of Chevron (CVX), a component …
Too much for a makeover on Tuesday? Stocks falter again Read More »
Minneapolis CNN Business — In a blunt speech last Friday, Federal Reserve Chairman Jerome Powell warned that the central bank’s battle against inflation won’t come without some casualties. The Fed is firmly resolved to bring down inflation and to “keep at it until the job is done,” Powell said. But that plan — which involves …
Fed Chair Jerome Powell says ‘some pain’ is on the horizon. Here’s what that means Read More »
Hong Kong CNN Business – The Chinese Yuan fell to its lowest level in two years after the hawkish comments of Federal Reserve Chairman Jerome Powell which sent the dollar higher recently. The yuan – also known as the renminbi – It lost about 0.5% against the dollar on Monday in foreign trade outside mainland …