ECONOMIC NEWS

The Federal Reserve took another page out of its 2008 crisis-era playbook late Wednesday evening, invoking its emergency authority to create a backstop for prime money market mutual funds.The new Money Market Mutual Liquidity Fund will provide loans to financial...

Goldman Sachs said it sees three rate cuts from the Federal Reserve from March through June to combat the negative economic impact from the coronavirus.Bank of America now sees a 50 basis point cut at the Fed’s March meeting.“The committee will probably be reluctant...

Markets are putting pressure on the Federal Reserve to cut rates and have priced in at least three reductions this year.For their part, central bank officials consistently have said it’s too early to gauge the global economic impact from the coronavirus.Some market...

Canada Goose (GOOS) – The outerwear maker reported better-than-expected profit and revenue for its fiscal third quarter, but also said the coronavirus outbreak is having a “material negative impact” during the current quarter. The company did add that no supply chain...

Mary Daly said she did not think the coronavirus outbreak would do anything “material” to the U.S. economyThe Fed cut its benchmark interest rate three times last year. The next meeting of the Federal Open Market Committee is March 17 and 18. San Francisco Fed...

Tesla shares closed up nearly 20% on Monday at a record high $780.00 a share.The company’s market cap is now more than $140 billion, nearly triple that of General Motors.Tesla reported revenue last week of $24.6 billion in 2019 Billionaire investor Ron Baron...

The Bank of England has held interest rates at 0.75% amid early signs of a pick-up in the UK and global economies. In Mark Carney's final interest rate meeting as governor, the Bank's Monetary Policy Committee (MPC) voted 7-2 to keep rates unchanged. Recent weak...

With stocks tumbling and the coronavirus spreading, traders are pricing in a better than 50% of two rate cuts this year.Fed officials have indicated they are on hold, though Chairman Jerome Powell said he is “carefully monitoring” the virus outbreak.“The Fed won’t...

Worries over the continued spread of the coronavirus have hit financial markets, with stocks from Wall Street to Tokyo declining. The three main US indexes closed down more than 1.5%, while London's FTSE 100 index ended almost 2.3% lower. Firms with significant sales...

U.S. manufacturing output rose unexpectedly in December as a drop in motor vehicle output was outpaced by increases in production of other durable goods, food and beverages, and other products.Manufacturing production rose 0.2% last month after a downwardly revised...

At 3:30 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8195%, while the yield on the 30-year Treasury bond was also higher at around 2.2972%.Market focus is largely attuned to geopolitical developments, as...

President Donald Trump's approach to international trade is driven to a large extent by his belief that the United States is being unfairly treated by other countries. His main supporting evidence is the trade deficit - the US buys more than it sells internationally....