ARK Invest’s Cathie Wood says the U.S. is already in a recession

Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during the Bitcoin 2022 conference in Miami, Florida, US, on Thursday, April 7, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Ark Invest CEO Cathie Wood said Tuesday that the US is already in an economic downturn, and she admitted that she underestimated … Read more

Credit Suisse to overhaul its risk management after Archegos and other scandals

A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse has vowed to forge ahead with its risk management and compliance overhaul in light of a string of scandals, despite what its CEO called … Read more

Stock index futures rise following a losing day Monday

Stock futures rose early on Tuesday following a losing day as investors prepare to rebalance their portfolios with the end of the quarter fast approaching. Futures on the Dow Jones Industrial Average gained 248 points or 0.79%. S&P 500 futures edged up 0.83% and Nasdaq 100 futures advanced 0.94%. The overnight action followed modest losses … Read more

U.S. may lose silicon wafer factory if CHIPS Act isn’t funded

US Commerce Secretary Gina Raimondo told CNBC’s Jim Cramer on Monday that she believes GlobalWafers will follow through on its plan to build a silicon wafer factory in Texas — but only if Congress passes funding for the CHIPS for America Act by the time the August recess begins. “This investment that they’re making is … Read more

SPACs wipe out half of their value as investors lose appetite for risky growth stocks

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, June 16, 2022. Brendan McDermid | Reuters SPACs, once Wall Street’s hottest tickets, have become one of the most hated trades this year. The proprietary CNBC SPAC Post Deal Index, which is comprised of SPACs that have completed their … Read more

Russia slides into historic debt default as payment period expires

Russian Finance Minister Anton Siluanov (seen here with Russian President Vladimir Putin in 2019) reportedly told Russian newspaper Vedomosti that Moscow will continue to service external debts in rubles, but foreign Eurobond holders will need to open ruble and hard currency accounts with Russian banks in order to receive payments. Mikhail Svetlov | Getty Images … Read more

Stock futures fall following a major comeback week for stocks

Traders on the floor of the NYSE, June 15, 2022. Source: NYSE US stock futures fell on Sunday night following a major rebound last week from this year’s steep declines. Despite the bounce, Wall Street is preparing to wrap up the worst first half for stocks in decades. Dow Jones Industrial Average futures fell 75 … Read more

Next week will be a bellwether for the upcoming earnings season

CNBC’s Jim Cramer on Friday said that next week will be a crucial moment for determining what the upcoming earnings season will look like. “It’s been ages since we’ve been on pre-announcement watch, where companies have to admit that things aren’t going well. Things like higher labor costs, supply chain woes and the Russia-Ukraine war. … Read more

Suze Orman has a warning for those quitting amid Great Resignation

44% of workers are worried about a layoff, job loss Despite the collective optimism around the current job market, 44% of workers are worried about a layoff or job loss, CNBC’s All-America Workforce Survey found. Some 84% are concerned about a recession. Economists are starting to raise their recession probability outlooks. On Monday, Goldman Sachs … Read more

Stay away from this company poised to go public next week, Jim Cramer warns

CNBC’s Jim Cramer on Friday told investors to stay away from Ivanhoe Electric, a mining technology company that is expected to sell its shares in an initial public offering next week. “Even if … Ivanhoe Electric gets out the door next week, I think you should avoid it. This is not the time to bet … Read more