Thomas Barrabi

Federal Reserve likely to signal March interest rate hike this

The Federal Reserve is expected to confirm plans this week for an interest rate hike for March as officials look to address the decades-high inflation hammering American consumers. Fed officials will begin their two-day meeting on Tuesday, with an announcement on policy scheduled for Wednesday afternoon. Fed Chair Jerome Powell will hold a press conference […]Read More

Dow closes up 100 points after falling as much as

The Dow Jones Industrial Average eked out a 99-point gain Monday in a furious late-session rally after earlier falling as much as 1,000 points in a topsy-turvy day of trading. Investors rushed out of stocks in early trade as fears over the escalating situation between Russia and Ukraine soured the mood on Wall Street, which […]Read More

Inflation could lead Fed to hike rates more than 4

The Federal Reserve could hike interest rates more times than expected this year as it aims to curtail the ongoing inflation surge, according to analysts at Goldman Sachs. Goldman’s current projections call for four rate hikes in 2022, with hikes coming in March, June, September and December. But with inflation at a four-decade high, the […]Read More

Omicron, inflation woes crushing small businesses in the US, survey

Embattled small business owners across the US would support additional federal emergency assistance as they contend with the Omicron variant and other pandemic-related challenges, according to a new survey released Monday. Of the more than 1,400 small business owners surveyed, 71 percent of respondents said they suffered a drop in expected revenue, while 79 percent […]Read More

Peloton CEO denies halting production, says company identified leaker

Embattled Peloton CEO John Foley denied the company is pausing production of its fitness equipment hours after reports detailed a manufacturing halt due to sagging demand. In a note to employees published Thursday night, Foley acknowledged that Peloton was “resetting our production levels for sustainable growth. But he added reports the company was “halting all […]Read More

US jobless claims jump to 286K as Omicron hits employers

The number of American workers filing unemployment claims jumped much more than expected this week as US companies and employees contend with the Omicron variant, according to data released Thursday. Workers filed 286,000 initial jobless claims for the week ending on Jan. 15, the Labor Department said. The number of claims increased compared to the […]Read More

Oil will hit $100 per barrel this year, Goldman Sachs

Goldman Sachs predicted this week that the price of oil could reach $100 per barrel this year – a trend that would likely increase pressure on the Biden administration to address an ongoing energy crisis. In a note to clients, Goldman Sachs analysts said they expect Brent crude to top $100 per barrel in the […]Read More

Feds probe Alibaba’s cloud unit over national security concerns: report

The Biden administration has reportedly launched a probe of China-based e-commerce giant Alibaba’s cloud-computing unit over concerns it could pose a risk to national security. The investigation is focused on Alibaba’s data storage practices for US clients, sources familiar with the matter told Reuters. Regulators will assess whether the Chinese government could have access to […]Read More