stocks dropped from a record Friday, amid data pointing to price pressures and talk of a possible pullback in central bank support.
data show fiscal stimulus helped drive the strongest monthly gains in personal incomes in records back to 1946, and the Federal Reserve’s preferred prices gauge rose by the most since 2018.
Dallas Fed President Robert Kaplan, who’s not currently a voter on the rate-setting committee, said signs of excessive risk-taking suggest it’s time to start debating a reduction in bond purchases.
Elsewhere, India’s virus crisis is worsening, with daily deaths hitting another record on Sunday.
and ChinaFed Chair Powell speaks in an event hosted by the National Community Reinvestment CoalitionThe Reserve Bank of Australia monetary policy decision is due TuesdayThe Treasury announces its quarterly refunding on WednesdayChicago Fed President Charles Evans gives a virtual speech on the U.S.
“We will not be anywhere near as focused on buybacks going forward as we have in the past,” Intel Chief Executive Officer Pat Gelsinger said in an interview on the CBS news magazine “60 Minutes” to air on Sunday night.
has agreed to selling its Boomi cloud business to private-equity firms Francisco Partners and TPG in a cash deal valued at $4 billion, as part of efforts by Chief Executive Officer Michael Dell to trim down the personal computer maker.The deal is expected to close by the end of this year, the companies said in a statement Sunday without providing additional details of the terms. Dow Jones had earlier reported the companies were near a deal.Boomi specializes in integrating different cloud platforms for companies and has more than 15,000 customers.
Taking the Los Angeles Metro for his first trip in months, Brad Hudson felt a moment of normalcy when the train rolled into the South Pasadena, California, station, harkening back to his daily commute into LA before the coronavirus pandemic.
Oil prices climbed on Monday as optimism about a strong rebound in fuel demand in developed countries and China in the second half of the year overshadowed growing concerns of a full lockdown in India to curb the COVID-19 pandemic.
While he acknowledged the world is shifting away from hydrocarbons, people on the extreme sides of either argument are “a little nuts,” he said.Greg Abel, chairman of Berkshire Hathaway Energy, called climate change a “material risk.” He added that they’re setting targets and spending $18 billion over 10 years on transmission infrastructure.Killer SPACs:Buffett warned investors that Berkshire might not have much luck striking deals amid the boom in special purpose acquisition companies that gripped the market over the past year.“It’s a killer,” Buffett said about the influence of SPAC companies on Berkshire’s ability to find businesses to buy.
We’re seeing very substantial inflation.” Rapidly rising prices are viewed with concern by investors as they can eat into returns, drive up interest rates and potentially cause long-term damage to the economy and living standards by eroding the value of workers’ wages.
— Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.The firm, also owned by Saudi Arabia’s Industrialization & Energy Services Company, known as Taqa, has asked banks to pitch for a role on the potential share sale, the people said, asking not to be identified as the information is private.Arabian Drilling may complete a deal on Riyadh’s stock exchange before the end of the year, they said.
uses each year, with similar boosts to aluminum and copper demand.MeatIt’s been a tough year to be in the meat business, from devastating Covid outbreaks to the deadly pig disease that hit Germany and is roaring back in China.And as crop prices surge, farmers rearing poultry, pigs and cattle are among the first to get squeezed by the eye-watering run-up in grains.