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2 hours ago | Yahoo Finance
7 Discounts Seniors Get Only If They Ask
How Americans Are Saving Thousands of Dollars A Year With These Retirement BoostersEveryone knows about basic, everyday discounts at restaurants and popular retailers, but you would be surprised to learn about some of the biggest discounts and Special Programs now available to help adults cut expenses and boost their retirement. Unfortunately many Americans are missing out entirely, simply because they don't know these programs exist.
5 hours ago | CNBC
A new investing paradigm for China: Lessons from Beijing's education crackdown
BEIJING — As overseas investors reel from Beijing's regulatory crackdown, the rapid fallout in an industry like after-school tutoring can be a guide to what went wrong, and where future opportunities lie in China.Before China cracked down on tutoring schools this summer, major investment firms like SoftBank were pouring billions of dollars into Chinese education companies, many of which were publicly traded in the U.S. or on their way to listing there.The strategy was one of burning cash to fund exponential user growth, with hopes of profit in the future. For the strategy to work, investors aimed for a "winner takes all" approach that they'd used with other Chinese start-ups such as coffee chain Luckin Coffee and ride-hailing company Didi.
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8 hours ago | CNBC
Stock futures are flat as major averages set for positive week after two-day rebound
Stock futures were flat in overnight trading on Thursday after two straight days of gains pushed major averages into positive territory for the week.Futures on the Dow Jones Industrial Average were little changed. S&P 500 futures and Nasdaq 100 futures were also flat.The market staged a two-day relief rally after the Federal Reserve signaled no imminent removal of its ultra-easy monetary policy. Investors also bet that the debt crisis of China's real estate giant Evergrande wouldn't trigger a ripple effect across global markets.The blue-chip Dow advanced 500 points on Thursday for its best daily performance since July 20. The S&P 500 gained 1.2%, while the tech-heavy Nasdaq Composite rose 1%.
9 hours ago | Yahoo Finance
Costco Q4 earnings beat expectations
Emily McCormick joined Yahoo Finance Live to break down Costco's latest earnings report.
9 hours ago | Yahoo Finance
Gary Cohn emphasizes need for more workers
Former Director of the National Economic Council Gary Cohn joins Yahoo Finance to discuss the state of the U.S. economy.
11 hours ago | CNBC
Here's what will happen when the Fed's 'tapering' starts, and why you should care
Likely before the end of the year, the Federal Reserve will start to tiptoe into the unknown.Central bank officials indicated Wednesday that they're ready to begin "tapering" – the process of slowly pulling back the stimulus they've provided during the pandemic.While the Fed has gone into policy retreat before, it has never had to pull back from such a dramatically accommodative position. For most of the past year and a half, it has been buying at least $120 billion of bonds each month, providing unprecedented support to financial markets and the economy that it now will start to walk back.The bond purchases have added more than $4 trillion to the Fed's balance sheet, which now stands at $8.5 trillion, about $7 trillion of which is the assets bought up through the Fed's quantitative easing programs, according to the central bank's data. The purchases have helped keep interest rates low, provided support to markets that malfunctioned badly at the start of the pandemic crisis, and coincided with a powerful run for the stock market.
15 hours ago | Yahoo Finance
1.5 billion women aren't getting regularly tested for dangerous diseases, survey shows
Medical technology company and leader in women's health Hologic released their findings from its inaugural Hologic Global Women's Health Index on Wednesday. Hologic CEO Stephen MacMillan joins Yahoo Finance Live to discuss why it's important for women to get annual health screenings and break down the outlook for the healthcare indusry.
15 hours ago | Yahoo Finance
Why the SEC v. Ripple case is significant for crypto's future
BTIG Managing Director - Research - Digital Assets Mark Palmer joins Yahoo Finance to discuss how cryptocurrency companies are reacting to the possibility of regulations and the lack of educated lawmakers dealing with crypto policy.
18 hours ago | CNBC
Stocks making the biggest moves premarket: Darden Restaurants, BlackBerry, Salesforce and others
In this articleCheck out the companies making headlines before the bell:Darden Restaurants (DRI) — The Olive Garden parent reported earnings of $1.76 per share, higher than the $1.64-per-share forecast. The restaurant company also reported same-store sales that rose 47.5%, topping estimates. Shares rose 3% in premarket trading.BlackBerry (BB) — The company reported better-than-expected quarterly earnings, with an adjusted gross margin of 65%. BlackBerry reported a loss of 6 cents per share, compared with the expected loss of 7 cents per share, according to Refinitiv. Revenue came in at $175 million, topping estimates of $164 million. Shares rose more than 7% premarket.Salesforce (CRM) — The software company raised its full-year 2022 revenue guidance to between $26.25 billion and $26.35 billion. This is higher than the company's previous estimate of revenue between $26.2 billion and $26.3 billion. Analysts expected $26.31 billion. Shares rose 2% in premarket trading.
20 hours ago | Yahoo Finance
Influencers with Andy Serwer: Anne Wojcicki
In this episode of Influencers, Andy is joined by 23andMe co-founder & CEO, Anne Wojcicki, as they discuss the benefits of DNA testing, concerns over privacy in the healthcare industry, and the future of medicine.
Sep 22, 2021 | CNBC
Ant Group to share consumer credit data with China's central bank as regulatory overhaul continues
In this articleGUANGZHOU, China — Ant Group will share credit data from its consumer lending business with China's central bank as part of an overhaul of the fintech giant.Huabei is a consumer loan product under Ant Group. Data from that lending product will be fed into the financial credit information database held by the People's Bank of China (PBOC), Ant said in a statement Wednesday.Information including date of account set up, amount in the credit line and status of repayment will be provided to the central bank. Users will need to authorize this. Specific information such as details about time of purchases or goods being bought will not be handed over to the PBOC.Ant Group, which is controlled by billionaire Alibaba founder Jack Ma, had its blockbuster initial public offering suspended in November over regulatory concerns.
Sep 22, 2021 | CNBC
Stock futures are flat after Dow, S&P snap 4-day losing streak following Fed decision
U.S. stock index futures were little changed during overnight trading on Wednesday after the Federal Reserve kept benchmark interest rates unchanged, while indicating no immediate intention of removing stimulus policies.Futures contracts tied to the Dow Jones Industrial Average gained 62 points. S&P 500 futures were up 0.14%, while Nasdaq 100 futures advanced 0.17%.Stocks finished higher across the board during regular trading following the central bank's commentary. The Dow gained roughly 340 points, or 1%, for its first positive session in five and best day since July 20. The 30-stock benchmark did close below its highest levels of the day, however, after advancing more than 500 points at one point.
Sep 22, 2021 | CNBC
The Fed is evaluating whether to launch a digital currency and in what form, Powell says
The Federal Reserve is pushing ahead with its study into whether to implement its own digital currency and will be releasing a paper on the issue shortly, Chairman Jerome Powell said Wednesday.No decision has been made on the matter yet, he added, and said the Fed does not feel pressured to do something quickly as other nations move forward with their own projects."I think it's important that we get to a place where we can make an informed decision about this and do so expeditiously," Powell said at his post-meeting news conference. "I don't think we're behind. I think it's more important to do this right than to do it fast."This is breaking news. Please check back here for updates.Become a smarter investor with CNBC Pro. Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today.
Sep 22, 2021 | CNBC
The Fed will change trading rules for members to keep trust, Powell says
Federal Reserve Chairman Jerome Powell on Wednesday said the central bank's current trading rules are insufficient and promised that it would "make changes" after filings showed that officials traded stocks and bonds that could be influenced by its policy actions.He added that he was not aware of the now-controversial trades made by Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren in 2020 prior to media reports over the past month."We understand very well that the trust of the American people is essential for us to effectively carry out our mission. And that's why I directed the Fed to begin a comprehensive review of the ethics rules around permissible financial holdings and activity by Fed officials," he said.
Sep 22, 2021 | CNBC
Half of the Fed members now see the central bank hiking rates next year
Half of the Federal Reserve members now see the first interest rate hike in 2022, according to the central bank's so-called dot plot of projections.Wednesday's forecast showed nine of the eighteen FOMC members expect a rate hike in 2022. That's up from seven in June's Fed projections.Additionally, all but one member is expecting at least one rate hike by the end of 2023. Thirteen members are forecasting two rate hikes through 2023. Every quarter, members of the committee forecast where interest rates will go in the short, medium and long term. These projections are represented visually in charts below called a dot plot.  The Fed also released an updated summary of economic projections.Source: Federal Reserve
Sep 22, 2021 | CNBC
Here’s what changed in the new Fed statement
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policy-making meeting on July 28.Text removed from the July 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.Watch Fed Chair Jerome Powell's press conference
Sep 22, 2021 | CNBC
Federal Reserve holds interest rates steady, says tapering coming 'soon'
The Federal Reserve on Wednesday held benchmark interest rates near zero but indicated that rate hikes could be coming sooner than expected, and it significantly cut its economic outlook for this year.Along with those largely expected moves, officials on the policymaking Federal Open Market Committee indicated they will start pulling back on some of the stimulus the central bank has been providing during the financial crisis. There was no sign, though, as to when that might happen."If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted," the FOMC's post-meeting statement said. Respondents to a recent CNBC survey said they expect tapering of bond purchases to be announced in November and begin in December.
Sep 22, 2021 | USA Today
Stocks edge higher on Wall Street ahead of Fed statement
Stocks edged higher on Wall Street Wednesday ahead of an anticipated update from the Federal Reserve on how and when it might begin easing its support measures for the economy.The S&P 500 rose 0.8% as of 10:02 a.m. Eastern. The Dow Jones Industrial Average rose 332 points, or 1%, to 34,252 and the Nasdaq rose 0.5%.Gains within the S&P 500 were broad and could potentially break a four-day losing streak if they hold. Roughly 85% of stocks in the index rose. Banks and technology companies led the gains. A mix of health care and communications companies fell.Smaller stocks did slightly better than the broader market. The Russell 2000 rose 1.1%.The yield on the 10-year Treasury note held steady at 1.32%. Crude oil prices rose 1.7%.
Sep 22, 2021 | Yahoo Finance
Toast CFO on competing with Square: We’ll continue to ‘out-innovate’
Yahoo Finance’s Brian Sozzi and Emily McCormick speak with Toast CFO Elena Gomez about the company's path to its public debut, outlook, and more.
Sep 22, 2021 | CNBC
Payments giant Nexi says it is working on digital euro with the European Central Bank
In this articleItalian payments giant Nexi says it is working with the European Central Bank on its proposed central bank digital currency."We are engaging with the European Central Bank and contributing to the design of the future digital euro because we believe that can be a positive force in the evolution of digital payments," Nexi CEO Paolo Bertoluzzo told CNBC's Karen Tso at the Money 20/20 fintech conference in Amsterdam on Tuesday.The ECB outlined its plans for a digital version of the euro in July. The euro zone's central bank envisages the currency as complementary to its existing monetary system, rather than replacing physical cash or reducing the role of commercial lenders.An ECB spokesperson declined to comment.
Sep 22, 2021 | CNBC
Sport-focused NFT start-ups raise over $900 million in crypto gold rush
Two start-ups in the red-hot NFT market raised a combined $930 million this week, highlighting continued appetite from investors for cryptocurrency companies as the industry experiences massive growth.Dapper Labs, which makes virtual basketball trading cards, said Wednesday it has raised $250 million in a funding round led by Coatue. Bond, the investment firm run by former Wall Street analyst Mary Meeker, and Singaporean sovereign wealth fund GIC also backed the round.The new round values the Vancouver, Canada-based firm at $7.6 billion, according to a person familiar with the matter who preferred to remain anonymous as the information is not public.Sorare, a French fantasy soccer game that incorporates NFTs, also announced Tuesday that it bagged $680 million in a bumper cash injection led by SoftBank. Venture capital companies Atomico, Bessemer Ventures and IVP also invested, along with investment firms D1 Capital and Eurazeo.
Sep 22, 2021 | CNBC
Robinhood to launch crypto wallets as bitcoin becomes bigger part of business
In this articleRobinhood is debuting a feature that gives traders more control over digital tokens in its latest expansion in the cryptocurrency space.The newly public brokerage is testing "crypto wallets" with select clients next month, the company announced in a blog post Wednesday. The so-called wallet will allow investors to trade, send and receive digital currencies, as well as move them in and out of the Robinhood app.In recent months, some users — particularly Dogecoin traders — have taken to social media to complain that by using Robinhood as their broker, they had exposure to crypto prices but not actual ownership of the coins themselves."We're not first to the market — we've been taking our time to make sure that we build this in a phased approach," Robinhood's chief product officer Aparna Chennapragada told CNBC in a phone interview. "We'll have a few customers come in, iterate on the product, get the customer feedback and then expand from there."
Sep 22, 2021 | CNBC
It's time to get very conservative in stocks, CNBC survey shows
(Click here to subscribe to the new Delivering Alpha newsletter.)Wall Street investors believe it's time to take some risk off the table as concerns continue to pile up this month, according to a new CNBC Delivering Alpha survey. We polled about 400 chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money about where they stood on the markets for the rest of 2021 and next year. The survey was conducted this week.More than three quarters of the respondents said now is a time to be very conservative in the stock market when asked what kind of market risk they are willing to accept for themselves and their clients.A confluence of uncertainties have emerged in the market, threatening to derail stocks' record-setting recovery rally. On Monday, the S&P 500 suffered its worst sell-off since May as investors grew concerned about China's troubling real estate sector and the Federal Reserve's likely rollback of its massive stimulus. Meanwhile, fears of slowing economic growth amid high inflation — so-called stagflation — have also crept back nearly two years since the pandemic began.
Sep 22, 2021 | Yahoo Finance
The hidden meaning behind the Evergrande blow up: Morning Brief
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. SubscribeWednesday, September 22, 2021Have you heard? The United States is on the path to a showdown over the debt ceiling — again.As the spectacle of heavily-indebted Chinese real estate giant Evergrande held investors in its sway for a second day, another drama slowly played itself out on the other side of the globe, but in a way that hasn’t yet captured the market’s attention.
Sep 22, 2021 | CNBC
Here's why the Evergrande crisis is not China's 'Lehman moment'
BEIJING — Property developer China Evergrande's debt woes are not likely to cause the same fallout as the collapse of U.S. investment bank Lehman Brothers in 2008, analysts said.Evergrande's Hong Kong-listed shares have tumbled nearly 90% since July 2020, as the Chinese government cracked down on speculation in the real estate market.The stock has lost more than 20% in the last five trading days and investors are watching to see if the highly indebted real estate giant will be able to make millions of dollars in interest payments on U.S. dollar-denominated bonds in the coming days. The jitters have contributed to global stock market declines this week.However, when it comes to the scale of potential impact on international financial markets, analysts point to a major difference between the Evergrande crisis and the Lehman collapse: Evergrande holds land, while Lehman held financial assets.
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