These are the stocks posting the largest moves in midday trading.
Fed Chair Powell says smaller interest rate hikes could start in December
Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead.
Watch Fed Chair Jerome Powell speak on the economy and monetary policy
Federal Reserve Chair Jerome Powell is slated to speak Wednesday at the Brookings Institution.
Job openings fall in October amid Fed efforts to cool labor market
The Job Openings and Labor Turnover Survey, a closely watched gauge of slack in the labor force, showed there were 10.3 million vacancies for the month.
Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports
Companies added just 127,000 positions for the month, a steep reduction from the 239,000 the firm reported for October
European Central Bank says bitcoin is on the ‘road to irrelevance’
The remarks are timely, with the crypto industry reeling from one of its most catastrophic failures in recent history: the downfall of FTX.
Stocks making the biggest moves premarket: Hormel, Petco, CrowdStrike and more
These are the stocks posting the largest moves before the bell.
Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession
In a tweet early Wednesday, Musk called on the Fed “to cut interest rates immediately” or risk “amplifying the probability of a severe recession.”
Blackstone is a top pick in financials ahead of a potential Fed pivot, Morgan Stanley says
The firm said the stock is at an “attractive entry point” after falling roughly 32% this year.
Transitory inflation talk is back. But economists say higher prices are here to stay
Global markets have taken heart in recent weeks from data indicating that inflation may have peaked, but analysts have warned against the return of the “transitory” inflation narrative.