Fitch pushes back China rate cut as Fed holds interest rates steady

People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018.  Jason Lee | Reuters BEIJING — Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next year as the … Read more

Nvidia unseats Microsoft as world’s most valuable company

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Dec. 13, 2023. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more

Golden Goose postpones Milan IPO citing political turmoil in Europe

A general view of Golden Goose Superstar “Paint Your Love” sneakers. Icon Sportswire | Icon Sportswire | Getty Images Italian sportswear brand Golden Goose postponed its Milan IPO on the grounds that the European Parliament elections and the call for a snap election in France have led to “significant deterioration” in market conditions. Golden Goose, … Read more

UK BNPL fintech Zilch raises $125 million, sees IPO within 2 years

Zilch CEO Phil Belamant. Zilch LONDON — British fintech firm Zilch said Wednesday it’s raised $125 million in debt financing from German banking giant Deutsche Bank in a deal that will help the company triple sales in the next couple of years and move closer toward an initial public offering. The company, which offers shoppers … Read more

S&P 500 record, Japan trade, Tankan

The Taiwan Weighted Index reached new highs, crossing the 23,000 mark. Craig Ferguson | LightRocket | Getty Images Asia-Pacific markets mostly rose after key U.S. benchmark indexes hit fresh highs overnight as artificial intelligence chip firm Nvidia overtook Microsoft to become the world’s most valuable public company. Shares of the chipmaker jumped 3.5% overnight on Wall Street … Read more

Fugitive ex-CEO arrested on investor fraud charges

Hercules Investments CEO and CIO James McDonald. CNBC A former investment company CEO who previously appeared as a paid contributor to CNBC was arrested on fraud charges after more than two years as a fugitive from a Securities and Exchange Commission investigation, federal prosecutors said. The defendant, James Arthur McDonald Jr., is accused of misrepresenting … Read more

Stock market news for June 18, 2024

The S&P 500 rose to a fresh record as artificial intelligence darling Nvidia continued its march to new highs, topping Microsoft as the most valuable public company. The broad market index added 0.25% to close at 5,487.03, while the Nasdaq Composite inched up 0.03% to end at 17,862.23. The tech-heavy index also closed at a … Read more

These new high yield bond funds are hitting the market as interest rates start to fall

A spate of new funds focused on high yield debt have hit the ETF market in recent months at a time when riskier corporate bonds are at a crossroads. The latest fund to join the race is the BlackRock High Yield ETF (BRHY) , which debuted Tuesday. The managers for the fund also helm the … Read more

Economist Sahm, who devised recession rule, says the Fed is ‘playing with fire’

Economist Claudia Sahm on CNBC’s The Exchange. CNBC The Federal Reserve is risking tipping the economy into contraction by not cutting interest rates now, according to the author of a time-tested rule for when recessions happen. Economist Claudia Sahm has shown that when the unemployment rate’s three-month average is half a percentage point higher than … Read more