Charles Schwab shares drop 12% even as the firm defends financial position
Charles Schwab shares fell on Monday even as the financial institution defended its portfolio, easing fears of a banking crisis in the aftermath of tech-focused...
David Einhorn says investors should be ‘bearish on stocks and bullish on inflation’
Greenlight Capital’s David Einhorn said Wednesday he’s keeping his negative stance on the stock market as inflation and interest rates could shoot higher. “I think...
Dimon says Congress shouldn’t play games with U.S. creditworthiness
Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. Adam...
Wells Fargo, once the No. 1 mortgage player, steps back from business
Wells Fargo is stepping back from the multitrillion-dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates. Instead of its...
The Fed projects raising rates as high as 5.1% before ending inflation battle
Federal Reserve Bank Board Chairman Jerome Powell answers reporters’ questions during a news conference following a meeting of the Federal Open Market Committee (FMOC) on...
Wells Fargo mortgage staff brace for layoffs as U.S. loan volumes collapse
Mortgage volumes at Wells Fargo slowed further in recent weeks, leaving some workers idle and sparking concerns the lender will need to cut more employees...
Social Security COLA will be 8.7% in 2023, highest increase in 40 years
Azmanjaka | E+ | Getty Images Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest...
Cash is king again as money managers are in no rush to embrace risk with Fed raising rates
Traders work on the floor of the New York Stock Exchange (NYSE) on October 07, 2022 in New York City. Spencer Platt | Getty Images...
Paul Tudor Jones believes we are in or near a recession and history shows stocks have more to fall
Billionaire hedge fund manager Paul Tudor Jones believes the U.S. economy is either near or already in the middle of a recession as the Federal Reserve rushed...
Stanley Druckenmiller sees ‘hard landing’ in 2023 with a possible deeper recession than many expect
Billionaire investor Stanley Druckenmiller believes the Federal Reserve’s attempt to quickly unwind the excesses it helped build up for a decade with easy monetary policy will not...