The richest person in your town probably isn’t a tech entrepreneur or a hedge fund manager. Chances are, it’s the dentist who runs six offices or the HVAC contractor whose trucks are everywhere, according to economists Owen Zidar and Eric Zwick. These “stealth rich people,” as the duo describe them in their new book, “The … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, USA, September 16, 2026. Jeenah Moon | ReutersStock futures rose on Thursday, with traders attempting to recoup some of the losses suffered in the previous session prompted by the Federal Reserve’s first interest rate hike in three years. Futures … Read more
U.S. Federal Reserve Chairman Kevin Warsh and Bank of England Governor Andrew Bailey at the Jackson Hole Economic Symposium in Moran, Wyoming, on August 28, 2026.David A. Grogan | CNBC The Bank of England is widely expected to leave interest rates unchanged on Thursday, even though inflation has risen well above its 2% target. Markets … Read more
Generac Holdings revealed a major long-term deal to supply backup power generators for Amazon data centers. Amazon will also get warrants to buy Generac shares, which soared Wednesday night. Generac will provide initial deliveries of generators worth $2.4 billion in 2027 and 2028, but the total deal could be worth up to $8 billion. Amazon … Read more
The effects of the US-led war against Iran are about to intensify in the form of huge increases in gasoline and diesel prices, analysts predict. And despite the Trump administration’s assurances, a potentially even more economically damaging new phase of the war may be about to begin.
SpaceX (SPCX) stock rose about 5% on Tuesday, with no new news, although a couple of catalysts may be at work. On Monday, SpaceX said on SpaceX said the test mission, if successful, will deploy new Starlink satellites and test improvements to both the Starship and its booster. CEO Elon Musk hinted that the company … Read more
On Wednesday, the Federal Reserve raised its benchmark interest rates for the first time since 2023, in a move aimed at slowing inflation that picked up again last month. The Fed’s 0.25% hike raises the central bank’s flagship rate to between 3.75% and 4.00%. Federal Reserve officials unanimously supported the rate hike and signaled that … Read more
“The fact is, inflation is too high and has been for too long,” Warsh says. However, for more than five years, inflation has been above target, Warsh continues, so the Fed’s predominant focus is on the price stability side of its mandate. double quotes The obvious fact is that inflation is too high and has … Read more
While it may have taken a while, Wall Street has finally warmed to the idea that the Federal Reserve will likely raise its benchmark interest rate as it seeks to stamp out a maddeningly persistent inflation problem. Traders have assigned a greater than 90% probability that the central bank’s Federal Open Market Committee will vote … Read more
A JB Hunt Transport Services Inc. tractor-trailer parked at a freight yard in Indianapolis, Indiana, U.S., on Saturday, January 15, 2022. Luke Sharrett | Bloomberg | Getty Images Shares of JB Hunt plunged more than 10% on Wednesday after the trucking company said it expects its profits to fall in the third quarter. “We want … Read more