Wall Street pioneer Thomas Peterffy told CNBC on Wednesday he was concerned about the prospect of damaging inflation in the U.S., leaning on his personal experiences as a youth in Hungary after World War II. The billionaire Interactive Brokers founder and chairman made his comments on “Squawk Box” shortly after April’s hotter-than-expected Consumer Price Index
Economy
A worker on an auto assembly line in Smyrna, Tennessee. Luke Sharrett/Bloomberg/Getty Images The concentration of price pressures in a handful of categories means markets shouldn’t yet be worrying about inflation after Wednesday’s U.S. surprise, economists have told CNBC. The U.S. Consumer Price Index for April rose 4.2% from the same period last year, its
A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey. Eduardo Munoz | Reuters A little inflation might not be such a bad thing, after all. With the Labor Department’s inflation report Wednesday spooking stock markets, and traders blaming rising prices for a broad sell-off in technology shares, attention
Workers assemble a three-wheeled electric fun utility vehicle (FUV) at the Arcimoto manufacturing facility in Eugene, Oregon, April 19, 2021. Alisha Jucevic | Bloomberg | Getty Images U.S. producer prices data for April is set to be released at 8:30 am ET Thursday. The Producer Prices Index comes into focus after Wednesday’s consumer prices report
A woman wears a face mask while shopping for a baby shower gift during the Covid-19 pandemic, at Madison’s Niche boutique in Huntington, New York on April 21, 2021. Alejandra Villa Loarca | Newsday | Getty Images There is probably less than meets the eye from the startling inflation pop in April, as goods impacted
Traders look on as a screen shows Federal Reserve Chairman Jerome Powell’s news conference after the U.S. Federal Reserve interest rates announcement on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 31, 2019. Brendan McDermid | Reuters Red-hot consumer inflation data for April spooked markets and raised concerns that
In this article TSLA A worker operates a forklift to move bundles of Hampton lumber for a shipment order at Burton Lumber in Salt Lake City, Utah, on Thursday, May 6, 2021. George Frey | Bloomberg | Getty Images The U.S. economy is trying to restart its engine after tumbling into its deepest recession in
A help wanted sign is displayed in the window of a Brooklyn business in New York. Spencer Platt | Getty Images Job openings popped to a record high in March as employers struggled to find workers to fill those positions, the Labor Department reported Tuesday. Even as help wanted jumped from February by 597,000, or
US President Joe Biden speak about the Covid-19 response and the vaccination program in the State Dining Room of the White House on May 4, 2021. Nicholas Kamm | AFP | Getty Images President Joe Biden on Monday urged U.S. companies to boost pay for workers as he outlined the steps his administration is taking
View of the Prohibition Taproom in Philadelphia. Owner Michael Pasquarello, who owns two other establishments in the city, is optimistic about the future despite issues that plague the industry. Source: Google Earth Like many in his field, restaurateur Michael Pasquarello is grateful to have survived the damage the pandemic did to his business, and is
The U.S. employment picture improved sharply last week, with first-time claims for unemployment insurance dipping below 500,000 for the first time since the pandemic crisis. Initial claims totaled 498,000 for the week ended March 1, against the Dow Jones estimate of 527,000. That was down from the previous week’s total of 590,000, which saw a
People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020. Ting Shen | Xinhua via Getty Images Rising asset prices in the stock market and elsewhere are posing increasing threats to the financial system, the Federal Reserve warned in a report Thursday. In its semiannual Financial Stability Report,
Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers. Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%. Many economists had been expecting an even
Labor Secretary Martin Walsh said Friday that the Covid-19 pandemic is still weighing on jobs but projected optimism about recovery of the U.S. economy as vaccinations continue, saying that “we are starting to see the confidence come back.” Walsh’s comments on CNBC’s “Squawk on the Street” came shortly after the Labor Department released a disappointing
A help wanted sign is posted at a taco stand in Solana Beach, California. Mike Blake | Reuters The largest business lobbying group in America on Friday blamed a $300-per-week federal jobless benefit for enticing Americans to stay at home and April’s far-weaker-than-expected jobs report. “The disappointing jobs report makes it clear that paying people
Containers sit at the Yangshan Port in Shanghai, China, Aug. 6, 2019. Aly Song | Reuters BEIJING — China’s exports surged more than expected in April as global demand for Chinese goods remained elevated amid countries’ varying stages of dealing with the coronavirus pandemic. U.S. dollar-denominated exports rose 32.3% in April from a year ago,
Server Adrian Almanza brings entrees to a table at Satay Thai Bistro and Bar, in Las Vegas, Nevada, March 28, 2021. Bridget Bennett | Reuters Job growth in April could top 1 million, though many positions also may have gone unfilled. Economists expect to see job creation in each of the next several months of
Vice President Kamala Harris speaks during a listening session on broadband internet at the New Hampshire Electric Co-op in Plymouth, New Hampshire, April 23, 2021, as she travels to the state to promote the administration’s economic plans. Saul Loeb | AFP | Getty Images As the White House attempts to sell President Joe Biden‘s multi-trillion-dollar
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