Two Federal Reserve officials who voted this week against holding a key interest rate in place explained their decisions Friday, both indicating that the central bank is making a mistake by waiting to ease policy amid rising threats to the labor market. Governors Christopher Waller and Michelle Bowman both said they wanted a quarter percentage … Read more
Rick Rieder, BlackRock’s chief investment officer for global fixed income, said July’s dismal jobs report opened the door for a jumbo rate cut from the Federal Reserve next month. “We would argue that the evidence the Fed needed in order to justify a cut in September has arrived in today’s report,” Rieder said in a … Read more
Check out the stocks making the biggest moves midday: Kimberly-Clark — The consumer products giant gained about 4% on stronger-than-expected full-year guidance. Kimberly-Clark expects earnings per share to grow in the low- to mid-single-digit percentage rate, while analysts polled by FactSet anticipated a contraction of around 2.6%. Marvell Technology — The chipmaker fell about 6%, … Read more
Ozgur Donmaz | Photodisc | Getty Images The U.S. job market has been showing signs of a gradual weakening. But new federal data issued Friday suggests it may have hit a long-awaited wall. “We’re finally in the eye of the hurricane,” Daniel Zhao, chief economist at career site Glassdoor, wrote in a note. “After months … Read more
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2025. CNBC Berkshire Hathaway on Saturday reported a small decline in second-quarter operating earnings as Warren Buffett’s conglomerate warns of negative impacts from steep U.S. tariffs. Berkshire’s operating profit — those from the company’s wholly owned businesses including insurance … Read more
After years of testing, robotaxis are starting to become a normal part of transportation in certain parts of the U.S. and China, where a handful of companies are competing to become market leaders. In the U.S., Alphabet’s Waymo has pulled ahead of its rivals and says it has more than 1,500 robotaxis on the road … Read more