Tom Michaud, KBW, a Stifel Company, CEO, joins 'Fast Money' to talk bank stocks, interest rates, the economy and more.

No emergency rate cut ahead because economy isn't that bad, says KBW CEO Tom Michaud

Markets Insider

Bank of America's Michael Hartnett isn't very optimistic about the future of the US economy and stock market.

'Sell the first rate cut': Bank of America's top global strategist warns stocks could be in for trouble as the economy heads toward a hard landing and the Fed gets set to slash rates

Reuters

HELSINKI (Reuters) - The European Central Bank can continue cutting interest rates if confidence in the slowing inflation trend strengthens in the near future, Finnish ECB policymaker Olli Rehn said in a speech on Wednesday.

ECB's Rehn: Rate cuts can continue if downward inflation trend strengthens

Lenders have been lowering their rates ahead of a hoped-for interest rate cut in August.

Mortgage rate hopes as one lender offers below 4%

CBS News

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  With Fed rates holding steady over the last couple of years, mortgage interest rates have stayed high overall — even hovering close to 8% at one point recently. And those high mortgage loan rates, coupled with the high cost of living and inflation, have led many potential homebuyers to pause their search for a home and a mortgage to buy it with.But in recent weeks, there has been some welcome news for potential homebuyers. Inflation has cooled slightly —...

How low will mortgage rates drop after the Fed cuts rates? Experts weigh in

Jessica Jackson was afraid of heights when she first started her job as a wind turbine service technician — now, she spends most of her days working 300 feet in the air. Jackson, 37, is a technician at Vestas, a wind turbine manufacturer, in Bee County, Texas, and earns $73,000 per year.

37-year-old mom earns $73,000 in one of the most in-demand jobs in the world—and it doesn't require a degree: 'I love what I do'

Goldman Sachs analysts have raised their estimated odds for a U.S. recession to 25% from 15%. The investment firm's research analysts said recession risk remains "limited" overall, noting that the Fed has ample room to cut interest rates to support the economy. The July jobs report showed unemployment increasing to...

Goldman Analysts Say Chance of US Recession in 2025 Has Risen to 25%

New Jersey State

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Collingswood, NJ

Morristown Minute

CAMDEN, N.J. – Ralston Boswell, 34, of Collingswood, New Jersey, has admitted to participating in schemes to fraudulently obtain Paycheck Protection Program (PPP) loans and unemployment insurance benefits. The announcement was made by U.S. Attorney Philip R. Sellinger.

Plea: Man's PPP & Unemployment Fraud - $209K Scam

The dollar index (DXY00) Tuesday finished up by +0.29% due to strength in T-note yields. Also, reduced expectations of aggressive Fed rate cuts boosted the dollar on positive carryover from Monday when Chicago Fed President Goolsbee said last month's job numbers "came in weaker than expected but are not looking yet like a recession."

Dollar Gains and Gold Falls as Speculation of Aggressive Fed Easing Subsides

Florida State

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Akeena

Who would have thought that a chain known for its endless shrimp promotion could find itself in such a pickle? But here we are—Florida-based Red Lobster, which has been reeling from financial troubles, may have finally found a lifeline. After a surprising $11 million loss in the third quarter of 2023 due to that very shrimp deal, Red Lobster filed for bankruptcy in May 2024. And now, there’s a glimmer of hope on the horizon.

A Florida based chain that filed for bankruptcy has reportedly found a potential buyer

The Motley Fool

Buffett buys good companies when they are temporarily out of favor, like when he bought Bank of America stock. TD Bank offers a similar opportunity.

Warren Buffett Took Profits in Bank of America. TD Bank Looks Like a Good Place for the Cash.

California State

A stalking horse bid is used as a starting or minimally accepted offer that other interested bidders must surpass if they want to buy the asset or the company. California-based Complete Solaria, a solar technology, services, and installation company will acquire SunPower's Blue Raven Solar business, New Homes business, and non-installing Dealer network.

SunPower files for bankruptcy, to sell some $45 million assets via stalking horse bid

A U.S. judge ruled Monday that Google holds a monopoly in the search market, and invoked the case of Microsoft from more than two decades ago. "All along, the government has implicitly and explicitly said they're basing this case on the Microsoft case," said Sam Weinstein, law professor at Cardozo Law School and a former DOJ antitrust lawyer.

Google's antitrust ruling has experts looking to 25-year-old Microsoft case for answers

Disney's combined streaming businesses turned a quarterly profit for the first time ever. Disney's "Inside Out 2" and "Deadpool & Wolverine" have led the studio to become the first to top $3 billion in worldwide ticket sales in 2024. Meanwhile, the parks unit disappointed with a "moderation" in consumer demand.

In a reversal, Disney's media assets are starting to generate more excitement than its parks

TheStreet

The change came after Friday's weak July jobs report.

Goldman Sachs revamps interest rate forecast as stocks slump

Another round of better-than-expected inflation data over the course of July has pushed the Federal Reserve to signal that it will cut the Fed funds rate at its next policy-making meeting on September 18. The signals were sent following the Federal Open Market Committee (FOMC) meeting on July 31. At...

Economics Watch: Federal Reserve Signals Rate Cuts Likely in September

The Current GA

Since 2020, the condition known as long COVID-19 has become a widespread disability affecting the health and quality of life of millions of people across the globe and costing economies billions of dollars in reduced productivity of employees and an overall drop in the work force .

Expert: Long COVID puzzle pieces are falling into place – picture is unsettling

There is talk of an emergency rate cut from the Fed following Monday's market meltdown, as Japan recovered most of its losses on Tuesday.

Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed

A rapid unloading of "carry trades" extended on Monday, with market participants seeking to roll back on the popular trading strategy amid a dramatic global sell-off in risk assets. Carry trades refer to operations wherein an investor borrows in a currency with low interest rates and reinvests the proceeds in...

Investors are unwinding the biggest ‘carry trade’ the world has ever seen, SocGen strategist says

Bucks County Beacon

Conservatives have done the United States a huge favor by explaining in detail what they’ll try to do if Donald Trump is reelected. Project 2025 , a “presidential transition project” of the Heritage Foundation, helpfully lays out how a group of former Trump officials would like to transform the country into a right-wing dystopia where the rich thrive and the rest of us die aspiring to be rich.

Project 2025’s Plan to Gut Medicare and Medicaid

NewsBreak

'We would feel comfortable even if there are more rate cuts,' says Commerzbank CFO

Commerzbank CFO Bettina Orlopp says the...

'We would feel comfortable even if there are more rate cuts,' says Commerzbank CFO

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