business news
Follow the big policy update, Chair Jerome Powell briefing here
Stocks drop after Fed update The Dow dropped more than 300 points at one point after the Fed’s update. With the Fed raising its inflation expectations and now seeing two rate hikes in 2023, investors decided to take risk off. The Dow was last down about 240 points. One bright spot was bank stocks with …
Jeff Bezos’ Blue Origin auctions spaceflight seat for $28 million
A New Shepard rocket launches on a test flight. Blue Origin Jeff Bezos’ space venture Blue Origin auctioned off a seat on its upcoming first crewed spaceflight on Saturday for $28 million. The winning bidder, whose name wasn’t released, will fly to the edge of space with the Amazon founder and his brother Mark on …
David Roche on how to invest in the electric vehicle market
This photo shows an electric car being charged on a street in London. Miles Willis | Getty Images News | Getty Images There’s been a rush for electric vehicles and investors are piling money into green cars and the batteries that power them — but one top investment strategist says he’s avoiding the sector for …
As Covid deepens inequality, some ask if technology can narrow the gap
Side face of AI robot by particle form. Yuichiro Chino | Moment | Getty Images The global pandemic has aggravated existing inequalities around the world, and triggered questions about whether technology can help level the playing field. As a leading hub for cutting edge technology and innovation, Asia faces the same debate: Can technology work …
Third member of prestigious FDA panel resigns over approval of Biogen’s Alzheimer’s drug
A sign for the Food and Drug Administration is seen outside of the headquarters on July 20, 2020 in White Oak, Maryland. Sarah Silbiger | Getty Images A third member of a key Food and Drug Administration advisory panel has resigned over the agency’s controversial decision to approve Biogen’s new Alzheimer’s drug, Aduhelm, CNBC has …
Nvidia stock set for another 140% rally, chart suggests
The S&P 500 came frustratingly close to a record high but failed to cross that hurdle. Still, several stocks have managed to make new highs this week, including ADP, Target, eBay, T-Mobile and Nvidia. Todd Gordon, founder of TradingAnalysis.com, told CNBC on Wednesday that one of those stocks should continue its hot streak on the …
Trump Bible photo not reason cops cleared George Floyd protest, feds claim
President Donald Trump holds up a Bible in front of St John’s Episcopal Church after walking across Lafayette Park from the White House in Washington, DC on June 1, 2020. Brendan Smialowski | AFP via Getty Images The Interior Department’s watchdog claimed in a new report Tuesday that police violently cleared protestors from a park …
Clover Health jumps 14% in premarket trading as frenzy continues. Shares are up 150% this week
Clover Health featured at the Nasdaq Source: Nasdaq Shares of Clover Health surged again in premarket trading on Wednesday, continuing a dramatic move for a Medicare insurance stock that has become a favorite of traders on Reddit. Clover was trading at $25.19 per share in premarket trading, up 14% from its previous close. The stock …
Biogen faces tough questions on $56K-a-year price of new Alzheimer’s drug
A person skateboards past Biogen Inc. headquarters in Cambridge, Massachusetts, on Monday, June 7, 2021. Adam Glanzman | Bloomberg | Getty Images Biogen on Tuesday faced tough questions from Wall Street analysts over the $56,000 annual cost of its newly approved Alzheimer’s drug, Aduhelm – a price tag executives are calling “fair” and “responsible.” Shares …
Genies CEO on the future of avatar technology in a digital world
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Start-up Genies creates virtual identities in the digital world. The company is partnering with established brands such as Gucci and Warner Music and its investors include Mary Meeker and Coinbase Ventures. Genies CEO Akash Nigam joined “Squawk Box” on Tuesday to discuss …
