Bessent has previously said the Fed should hasten cutting interest rates, calling reductions “the only ingredient missing” for stronger economic growth.

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 reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share. 

JPMorgan CEO Jamie Dimon called the economy resilient, but pointed to an “increasingly complex set of risks” across global markets.

These are the stocks posting the largest moves premarket.

There was a deterioration of demand in March as a result of the Middle East conflict, said LVMH CFO Cécile Cabanis.

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.

The luxury sector had shown some signs of a long-awaited recovery after a years-long slump prompted by soft demand from Chinese consumers.

These are the stocks posting the largest moves premarket.

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.