China’s consumer prices climb as Covid prompts food stockpiling

China's consumer prices climb as Covid prompts food stockpiling

Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | dpa | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in … Read more

April’s consumer price index report expected to show inflation has already peaked

April's consumer price index report expected to show inflation has already peaked

Shoppers inside a grocery store in San Francisco, California, US, on Monday, May 2, 2022. David Paul Morris | Bloomberg | Getty Images April’s consumer price index report is expected to show inflation has already reached a peak — a development that some investors say could temporarily soothe markets. But economists say, even with a … Read more

Peloton, Novavax, Vroom and more

Peloton, Novavax, Vroom and more

Take a look at some of the biggest movers in the premarket: Peloton (PTON) – Peloton shares plunged 25.8% in the premarket after the fitness equipment maker reported a larger-than-expected quarterly loss and projected current-quarter revenue below estimates due to softening demand. Novavax (NVAX) – Novavax sank 23% in premarket trading after the vaccine maker … Read more

Uber, Amazon, and Facebook Have Slowed Hiring. Why Others Could Follow.

Uber, Amazon, and Facebook Have Slowed Hiring. Why Others Could Follow.

Text size Uber is one of multiple tech companies slowing down hiring and cutting back on spending. Drew Angerer/Getty Images facebook parent Meta Platforms, ride-share service provider Uber Technologies and tech and online retail giant Amazon.com have announced hiring slowdowns in recent weeks. It’s all about keeping down costs, according to one economist. Peter Boockvar, … Read more

5 things to know before the stock market opens Monday, May 9

5 things to know before the stock market opens Monday, May 9

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Nasdaq futures over drop 2% as stocks continue to sell off Traders on the floor of the NYSE, May 6, 2022. Source: NYSE The Nasdaq was poised to lead Wall Street lower again Monday, with futures tied … Read more

What is terraUSD (UST) and how does it affect bitcoin?

What is terraUSD (UST) and how does it affect bitcoin?

Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China. Anthony Kwan | Getty Images A multibillion-dollar bet that bitcoin can act as a “reserve currency” for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg. UST dropped close to … Read more

Palantir, Rivian, Uber and more

Palantir, Rivian, Uber and more

Take a look at some of the biggest movers in the premarket: Palantir Technologies (PLTR) – The data analytics software company’s shares plunged 15.1% in premarket trading after posting a mixed quarter. Palantir reported profit of 2 cents per share, compared to a 4 cents a share consensus estimate. Revenue was higher than expected, however, … Read more

Consider These Signs When Deciding Whether to Wade Into the Market

Consider These Signs When Deciding Whether to Wade Into the Market

Text size Some strategists see more pain ahead for global stocks even as they plan for better days. Dreamstime The hesitancy to buy this dip in global stocks is real. Whether it’s concern that the Federal Reserve isn’t going to save the day or the depth of the uncertainty looming overhead, several strategists see more … Read more

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Uber to cut down on costs, treat hiring as a 'privilege': CEO email

Uber will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late … Read more

Oil Markets Are Bracing For Further Supply Disruptions

Supply

Oil markets are once again on edge about potential supply disruptions. The continued efforts by the EU to ban Russian oil imports and the renewed efforts by the US Senate to pass the NOPEC bill would both result in supply disruptions. Global Energy Alert: Do you know why May 9th is such an important deadline … Read more