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Powell orders review of Fed ethics rules after stock trades made by senior officials

Federal Reserve Chairman Jerome Powell has directed staff to review the central bank system’s rules around stock trading as part of clean-up efforts related to the disclosure of several personal multi-million dollar transactions made by senior policymakers last year. “Chair Powell late last week directed Board staff to take a fresh and comprehensive look at the ethics rules around permissible financial holdings and activities by senior Fed officials,” a Fed spokesperson said. The Fed… Source link

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‘We don’t really know’ if COVID-19 booster shots are necessary

Amid the growing controversy over whether the U.S. is in need of booster or additional vaccine doses to protect against COVID-19, Moderna (MRNA) president Stephen Hoge admits much remains unknown. “We don’t really know” if a third shot will be the final or if more are needed, Hoge told Yahoo Finance. In addition, whether or not the third shot is needed is a question. “It’s the “key scientific question we’re all wrestling with now,” Hoge said. If an additional does does prove to provide some… Source link

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The iPhone 13 inflation indicator, and the issue we don’t talk about enough: Morning Brief

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, September 16, 2021 Apple’s hardware isn’t getting any pricier, but ‘you can’t eat an iPad’ Amid much fanfare, the latest iPhone iteration arrived this week, with more than a few grumbles about Apple’s (AAPL) lack of product innovation. But at least one aspect gave consumers a reason to celebrate. CNBC’s Jon Fortt astutely observed… Source link

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Chevron CEO Warns of High Energy Prices and Supply Crunches

(Bloomberg) — The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron Corp.’s top executive. “There are things that are interfering with market signals right now that we haven’t seen before. Eventually things work out, but eventually can be a long time,” Chief Executive Officer Mike Wirth said Wednesday in an interview at Bloomberg News headquarters in New York. He expects strong prices… Source link

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Stock futures rise ahead of retail sales data

Stock futures traded slightly higher Wednesday evening to extend gains from a positive session earlier, with the three major indexes recovering from some heavy selling pressure earlier this month.  Contracts on the S&P 500 moved higher as the overnight session kicked off. Dow and Nasdaq futures also gained.  Traders are looking ahead to a set of key economic data on Thursday, which will show how solidly the consumer held up as the latest wave of the coronavirus spread across the U.S. The… Source link

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Retail traders aren’t buying the dip like usual: Analysts

The maxim “buy the dip” has been commonplace in retail investing – and retail investors demonstrated their commitment to this idea during the pandemic. But for the first time in a while, retail investors might be ignoring that guidance now. The S&P 500 index dropped over 30% in March 2020. Ordinary investors didn’t flinch; instead, they bought up index funds on the cheap. In many cases, this activity has worked as a counterweight to the market’s plunges. A note from Vanda Research, a… Source link

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Here are the key retirement provisions in the $3.5 trillion reconciliation bill

Inside the Democrats’ forthcoming package of proposed social spending is a host of significant changes to how Americans might save for retirement in the years and decades ahead. The provisions – if enacted – would be one of the most impactful changes to the private retirement system since the SECURE Act was passed in 2019. Susan Neely, president and CEO of American Council of Life Insurers, supports the proposals and told Yahoo Finance that “the punchline is it will be a huge leap… Source link

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Delta variant will make iPhone sales ‘challenging’

The unpredictable Delta variant appears to be wreaking havoc on the financial modeling skills of the team covering Apple (AAPL) at Goldman Sachs.  “We believe growth in iPhone revenue in calendar fourth quarter will be challenging for Apple but we continue to flag a low level of confidence in our ability to predict demand given the complex interplay of issues like the Delta variant, supply shortages, the end of stimulus and high consumer savings,” conceded Goldman Sachs analyst Rod Hall in a… Source link

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When will Amazon stock skyrocket again?

Amazon’s stock (AMZN) has been stuck in the penalty box for most of 2021 as investors see what new CEO Andy Jassy has up his sleeves and the company’s growth slows after a big 2020 as people shopped more online at the height of the pandemic.  Veteran tech analyst Mark Mahaney of EvercoreISI thinks Amazon’s stock has a ways to go before it begins a sustained upward ascent.  “Amazon’s stock is waiting for an unlock,” Mahaney said on Yahoo Finance Live. “Amazon is going into another investment… Source link

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