UK’s Hunt says ‘absolutely devastating’ if US failed to raise debt ceiling
British Finance Minister Jeremy Hunt also said the Group of Seven countries wanted to “de-risk,” rather than disconnect ties with China.
Good news for markets next week. Everyone agrees the debt ceiling ‘X-date’ is not here yet
The bad news is complacency is nigh in stock land. The CBOE Market Volatility Index traded below 18 Friday, having fallen almost 22% in 2023.
A solar stock and two tech giants emerge as this week’s top S&P 500 gainers
Here are the top outperformers on the S&P 500 this week, and where analysts see them going forward.
Wells Fargo says the S&P 500 is topping out and a correction is ahead
He predicts the index could fall more than 10% from Thursday’s close.
U.S. can avoid default in July if Treasury can make it through June cash crunch, Congressional Budget Office says
Tax revenues and emergency measures after June 15 will let Treasury “continue financing operations through at least the end of July,” said the CBO.
Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard
Federal Reserve Governor Philip Jefferson will be nominated by President Joe Biden to be vice chairman of the central bank’s board
Goldman Sachs created an A.I.-powered social media startup for corporate use
Under CEO David Solomon, Goldman has sought to speed up its digital makeover by hiring Google and Amazon executives and asking employees to pitch startup ideas.
China’s biggest chipmaker posts first quarterly revenue fall in 3 years as semiconductor woes persist
SMIC has been hit with U.S. sanctions that have cut the company off from key chipmaking tools to manufacture the most advanced semiconductors.
Autonomy founder Mike Lynch extradited to the U.S. to face fraud charges
Lynch arrived in the U.S. Thursday afternoon and is currently detained in San Francisco until bail conditions are met, his spokesperson told CNBC.
