All of the positive economic talk out of this week's Federal Reserve meeting had a negative impact on investors, who have now taken expectations for even one interest rate cut this year off the table.In his post-meeting news conference, Fed Chair Jerome Powell took an upbeat view of current conditions,...
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Disney embarks on new chapter as Josh D’Amaro takes over as CEO
This is the second time Iger handed over the reins to a successor in roughly six years. He will remain as a Disney senior advisor and board member until he retires from the company on Dec. 31. The storied CEO led Disney for roughly 20 years over the course of...
Steve Eisman says investors should ignore U.S.-Iran war, will be long-term ‘positive’
Steve Eisman of "The Big Short" fame said investors should ignore the U.S.-Iran war as it could be a long-term positive for markets. In fact, when the investor was asked Monday by CNBC's Joe Kernen on "Squawk Box" whether he would change anything because of the conflict, he responded with,...
Here are the five key takeaways from this week’s Fed meeting
1. Lots of uncertaintyWhile no one expected the Fed to cut — much less hike — at this meeting, the market always looks for clues about what's next. Neither the post-meeting statement, the update on economic projections, nor Powell's news conference provided much in that regard. The statement saw only...
Bessent says Treasury is not intervening in oil commodities markets and has no authority to do so
Treasury Secretary Scott Bessent said Monday that the administration has no plans to intervene in financial markets and may not have the authority to do so even if it wanted.In a CNBC interview, Bessent addressed rumors that the Treasury Department or some other arm of government might step in to...