US imposing ‘swift and severe costs’ on Russia following Putin’s Ukraine annexation

CNN — The US is imposing what it describes as “swift and severe costs” on Russia, including sanctions on a figure the Biden administration says is key to Russia’s economy, after President Vladimir Putin announced the annexation of regions of Ukraine following what the West casts as “ sham referendum.” Putin signed documents on Friday … Read more

Premarket stocks: Ronald Reagan’s tax lesson for Britain

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN Business — The British pound hit a record low against the dollar on Monday … Read more

Markets hate Liz Truss’ plan for the UK. Just look at these charts

London CNN Business — When the UK government, led by the new Prime Minister Liz Truss, unveiled its plan to rescue the British economy on Friday, the reaction from investors was instantaneous: They hated it. The British Pound crashed below $1.10 by mid-afternoon, hitting a new 37-year low against the greenback. UK government bonds also … Read more

U.S. stock futures rise ahead of Fed decision

US stock indexes rose on Wednesday, ahead of another expected sharp interest rate rise by the Federal Reserve and after Russian President Vladimir Putin escalated his war against Ukraine. How are stock indexes trading The Dow Jones Industrial Average DJIA rose 143 points, or 0.5%, to 30,853 The S&P 500 SPX gained 18 points, or … Read more

Inside the Treasury Department’s economic war on Russia

Washington CNN  —  Three months into US-led sanctions designed to crush Russia’s economy for its war in Ukraine, Russia has appeared surprisingly resilient. The ruble has rebounded and is now worth more than before the invasion. The Kremlin’s coffers are overflowing from record oil and gas sales. Even McDonald’s has reopened in Russia, rebranded under … Read more

U.S. stock end higher Friday, S&P 500 rises for third straight week, after March jobs report reinforces Fed rate-hike expectations

All three major US stock benchmarks closed higher Friday, after a March jobs report reinforced the picture of a healthy economy but also underlined expectations for the Federal Reserve to be more aggressive in hiking interest rates in an effort to rein in persistently hot inflation. How did stock indexes perform? The Dow Jones Industrial … Read more

Mortgage Rates Surge to Highest Since 2018

The average rate for a 30-year fixed-rate loan jumped to 4.67%, mortgage-finance giant Freddie Mac said Thursday, marking the weekly figure’s highest reading since December 2018. The 30-year fixed rate rose from 4.42% a week ago, continuing to steady rise that has pushed home-loan rates within sight of 5% for the first time in four … Read more

Stocks Open Slightly Lower as Bond Yields Tick Down

US stocks were little changed and bond yields remained near their highest level in three years as investors prepared for a campaign of interest-rate increases from the Federal Reserve. The S&P 50 in early trading Monday. Last week, US stocks rebounded for a second consecutive week. The tech-focused Nasdaq Composite rose 0.1%, while the Dow … Read more

Inflation is so hot the Fed may have to hike interest rates like it’s 1994

new York CNN Business — Inflation is so hot that Wall Street banks are falling over each other to predict the dramatic moves the Federal Reserve will have to make to cool prices off. Goldman Sachs raised eyebrows earlier this week by forecasting the Fed will raise interest rates by a half a percentage point … Read more

Stocks Wobble, but Finish Week With Gains

US stocks continued their rebound for a second straight week, but rising interest rates threaten to temper their gains. The S&P 500 broad stock market index and the tech-heavy Nasdaq Composite both ended the week with gains of more than 1%, as investors gain confidence that the US economy will withstand the escalating war in … Read more