5 things to know before the stock market opens Monday, July 11

5 things to know before the stock market opens Monday, July 11

Here are the most important news items that investors need to start their trading day. 1. Earnings and stocks Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, June 30, 2022. Brendan Mcdermid | Reuters Earnings season kicks off this week as several big companies, including major … Read more

Another hot inflation report Q2 earnings make for difficult week ahead

Another hot inflation report Q2 earnings make for difficult week ahead

Traders on the floor of the NYSE, June 29, 2022. Source: NYSE Consumer inflation data and the start of the second quarter earnings season could be two catalysts that make for a bumpy ride in markets in the week ahead. PepsiCo’s earnings are the first major report of the week Tuesday, and Delta Air Lines … Read more

Crypto firm Voyager Digital files for Chapter 11 bankruptcy protection

Crypto firm Voyager Digital files for Chapter 11 bankruptcy protection

Voyager said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York’s Metropolitan Commercial Bank. Justin Sullivan | Getty Images Beleagued crypto brokerage Voyager Digital has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of chaos in digital asset … Read more

Target will cover employees’ travel to other states for abortions

Target will cover employees' travel to other states for abortions

A person walks into a Target store in Washington, DC, on May 18, 2022. Stefani Reynolds | AFP | Getty Images Target will cover employees’ travel if they live in a state where abortion is banned, according to a company memo obtained by CNBC. The new policy will take effect in July, according to the … Read more

Nike, Spirit Airlines and more

Nike, Spirit Airlines and more

Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike fell 2.4% in premarket trading despite reporting better-than-expected quarterly profit and revenue. The athletic apparel and footwear maker forecast current-quarter revenue below analysts’ estimates amid increased promotional activity and ongoing disruptions in its profitable Chia market. Spirit Airlines (SAVE) … Read more

Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it reviewed passed its annual stress test of capital reserves. The Fed estimated $612 billion in potential losses for banks in its most severe economic scenario, and … Read more

Bank of America and Citigroup are flagged for potential losses on risky loan deals by rival JPMorgan

Bank of America and Citigroup are flagged for potential losses on risky loan deals by rival JPMorgan

Fund outflows and tightening conditions in a key corner of the credit markets have left big banks with an estimated $2 billion in losses, according to JPMorgan Chase . Bank of America and Citigroup have the most exposure to so-called hung loan deals within the coverage universe of JPMorgan analyst Vivek Juneja, according to a … Read more

What the Fed’s biggest rate hike in decades means for the bear market in bonds

What the Fed's biggest rate hike in decades means for the bear market in bonds

Historically bad. That’s how the mammoth $53 trillion US fixed-income market has performed this year as the Federal Reserve works to curtail high inflation threatening to wreck the economy. To turbo charge the effort, the Fed on Wednesday fired off its biggest benchmark interest rate increase in nearly thirty years. But what does that mean … Read more