Bessent has previously said the Fed should hasten cutting interest rates, calling reductions “the only ingredient missing” for stronger economic growth.
Category: Finance News
Inside Alts: Blackstone Private Wealth’s Joan Solotar on changing private market landscape
CNBC Wealth Editor Robert Frank speaks exclusively with Blackstone Private Wealth’s global head Joan Solotar about private credit concerns and Blackstone’s growth and market opportunities.
Citigroup beats estimates, boosted by gains in fixed income
Citigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.
JPMorgan Chase tops estimates on fixed income, investment banking as Wall Street hums
JPMorgan CEO Jamie Dimon called the economy resilient, but pointed to an “increasingly complex set of risks” across global markets.
Stocks making the biggest moves premarket: Novo Nordisk, JPMorgan Chase, United Airlines & more
These are the stocks posting the largest moves premarket.
LVMH stock drops as analysts flag luxury recovery ‘party postponed’ amid Iran war
There was a deterioration of demand in March as a result of the Middle East conflict, said LVMH CFO Cécile Cabanis.
China exports miss estimates in March, imports post best growth in more than four years
China’s export growth slowed in March as manufacturers grappled with surging energy costs, with the Iran war disrupting supplies, while imports jumped more than expected.
LVMH sales miss expectations as luxury recovery is put on pause amid Middle East war
The luxury sector had shown some signs of a long-awaited recovery after a years-long slump prompted by soft demand from Chinese consumers.
Stocks making the biggest moves premarket: Goldman Sachs, Best Buy, Fastenal & more
These are the stocks posting the largest moves premarket.
Hormuz blockade could deepen world’s worst energy crisis — and risk a dangerous misstep
The U.S. naval blockade of the Strait of Hormuz threatens to halt more tanker traffic, sending oil surging and risks drawing China into a widening confrontation with Washington.