Category Archives: CNN – Business

Dow set to open higher, shrugging off recession warning sign

Dow set to open higher, shrugging off recession warning sign

The Dow and US stocks pointed to a somewhat higher open on Thursday, despite the bond market once again flashing warning lights that a recession could be coming. Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole on Friday, as they search for direction about the future of US monetary policy.…MORE

US manufacturing looks weak. That’s a problem

US manufacturing looks weak. That’s a problem

Happy Wednesday. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Consumers are key to averting a US recession. One big reason: Weakness in manufacturing, which has been hurt by the trade war and the global economic slowdown. “If American households…MORE

Stock buybacks exploded after the tax cuts. Now they’re slowing down

Stock buybacks exploded after the tax cuts. Now they’re slowing down

Corporate America’s epic buyback mania may finally be succumbing to gravity. The 2017 corporate tax cut left US businesses flush with cash. S&P 500 companies responded by rewarding shareholders with record amounts of buybacks in 2018, with each quarter setting an all-time high. However, that record-shattering pace appears to be slowing. S&P 500 companies executed…MORE

HSBC and other big banks call for a peaceful end to Hong Kong’s protests

HSBC and other big banks call for a peaceful end to Hong Kong’s protests

Global banks want Hong Kong’s political crisis to be over. HSBC, Standard Chartered and the Bank of East Asia each placed advertisements in several local newspapers on Thursday, calling for a peaceful resolution to the months-long standoff between the city’s government and pro-democracy protesters. HSBC, a British financial powerhouse that set up shop in Hong…MORE

Spicer on an ABC dancing show? “It’s a slap in the face”

Spicer on an ABC dancing show? “It’s a slap in the face”

Tom Bergeron isn’t the only person who’s unhappy about the casting of Sean Spicer on “Dancing With the Stars.” Some staffers at ABC News are “up in arms,” as one source put it, over the decision by ABC’s entertainment division. The network is casting the former White House press secretary, best known for his obfuscation…MORE

Asian markets mixed as big regional companies report earnings

Asian markets mixed as big regional companies report earnings

Asian markets were mixed Thursday as investors digested a slew of corporate earnings. Japan’s Nikkei 225 rose 0.1%, while Hong Kong’s Hang Seng Index fell 0.5%. China’s Shanghai Composite Index was flat. South Korea’s Kospi fell 0.5%. Qantas Airways, Australia’s largest airline, jumped 3.3% in Sydney. The company reported a 17% drop in underlying pretax…MORE

Fed officials sought rate flexibility amid conflicting economic signals, minutes show

Fed officials sought rate flexibility amid conflicting economic signals, minutes show

Minutes of the Fed’s July interest-rate setting policy meeting released Wednesday showed that central bankers are eager “to maintain optionality” when it comes to charting the course of future interest rate changes for the remainder of this year — and into 2020. The minutes will reinforce the message that Federal Reserve Chairman Jerome Powell sent…MORE

Walmart, a longtime seller of firearms, is reevaluating its position on guns

Walmart, a longtime seller of firearms, is reevaluating its position on guns

Walmart founder Sam Walton was such a fan of firearms and hunting that Remington once named a shotgun after him. His company has long been one of the largest gun retailers in the United States. But in recent years, Walmart has reevaluated its relationship with guns. As mass shootings in America have become more frequent…MORE

Americans love Target. That’s bad news for Macy’s and JCPenney

Americans love Target. That’s bad news for Macy’s and JCPenney

The winners and losers of America’s great retail shakeout are becoming clear. Target and Walmart are definitely winners. Just about every traditional department store is losing. Sales at Target stores open at least a year increased 3.4% during the summer quarter and profit rose, Target said Wednesday. Target beat Wall Street’s predictions for the recent…MORE

Bonds flash another recession warning sign, even as Dow rallies 240 points

Bonds flash another recession warning sign, even as Dow rallies 240 points

The Dow staged a comeback on Wednesday, even as the bond market was once again flashing a recession warning sign. The 10-year US Treasury yield briefly fell below the 2-year yield Wednesday afternoon. It marked the second time the yield curve inverted this month. A yield curve inversion happens when long-term bond yields fall below…MORE