The statue of former Treasury Secretary Albert Gallatin stands in front of the north wing of the U.S. Treasury Department headquarters building on April 24, 2025, in Washington, DC, U.S.J. David Ake | Getty Images News | Getty ImagesThe U.S. government’s budget deficit grew nearly 20% in July to $291 billion despite a nearly $21 billion jump in customs duty collections from President Donald Trump’s tariffs, with outlays growing faster than receipts, the Treasury Department said on Tuesday.The deficit for July was up 19%, or $47 billion, from July 2024. Receipts for the month grew 2%, or $8 billion, to $338 billion, while outlays jumped 10%, or…
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A U.S. judge on Tuesday ordered the Trump’s administration to restore a part of the federal grant funding that it recently suspended for UCLA. Genaro Molina | Los Angeles Times | Getty ImagesA U.S. judge on Tuesday ordered President Donald Trump’s administration to restore a part of the federal grant funding that it recently suspended for the University of California, Los Angeles.U.S. District Judge Rita Lin in San Francisco ruled that the grant funding suspensions violated an earlier June preliminary injunction where she ordered the National Science Foundation to restore dozens of grants that it had terminated at the University of California.That order had blocked the agency from cancelling other grants at the University of California system, of which UCLA is a part.”NSF’s actions violate…
An Aldi grocery store on May 2, 2025, in Washington, DC, U.S.Kevin Dietsch | Getty Images News | Getty Images Waiting for tariff-induced price increases in the U.S. to show up can feel like watching an M. Night Shyamalan movie.July’s consumer price index came in mostly benign. The headline annual rate of 2.7% was lower than the Dow Jones estimate of 2.8%. That said, the core figure was 0.1 percentage points more than expected, and the highest since February, before U.S. President Donald Trump unleashed his tariffs in April.”The tariffs are in the numbers, but they’re certainly not jumping out…
The ‘Fast Money’ traders talk what Tuesday’s CPI data is signaling about the economy. Source link
A nurse prepares doses of the Pfizer vaccine during a COVID-19 vaccination event at Josephine’s Southern Cooking in Chatham, Illinois, Dec. 30, 2021.Brian Cassella | Tribune News Service | Getty ImagesThe Food and Drug Administration is considering revoking its authorization of Pfizer’s Covid-19 vaccine for healthy children under the age of 5, the drugmaker confirmed to CNBC on Tuesday. The move could leave many kids with no available shot against the virus, as jabs from Moderna and Novavax are cleared for more limited populations. While Covid typically causes mild symptoms in most children, others, such as infants under 1 or those…
Subadra Rajappa, Societe Generale head of U.S. rates, joins ‘Fast Money’ to talk the market reaction to CPI. Source link
(These are the market notes on today’s action by Mike Santoli, CNBC’s Senior Markets Commentator. See today’s video update from Mike above.) The market took a better-than-feared CPI report as a signal that it’s free to play looser and more aggressively. Given the magnitude of the downside shock in the Aug. 1 payroll report , CPI would have had to come in piping hot to undermine the Street’s conviction that the window is wide open for the Fed to resume rate cuts in September. The modest upside to core CPI fell well short of that threshold. The result was a…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyNilay Patel, The Verge editor-in-chief, joins ‘Fast Money’ to talk the latest moves in the AI arms race between Google and Apple.05:083 hours ago Source link
Asia-Pacific markets open in the greenAsia-Pacific markets opened higher Wednesday. Japan’s Nikkei 225 benchmark rose 1% after hitting a record high Tuesday, while the broader Topix index added 0.72%, as of 8:02 a.m. Singapore time (8:02 p.m. ET Tuesday).In South Korea, the Kospi index advanced 1.07%, while the small-cap Kosdaq increased by 0.88%.Over in Australia, the S&P/ASX 200 was up 0.29%.— Lee Ying ShanHere are the opening calls for the dayHappy mid-week from Singapore. Asia markets are set for a mostly higher open.Japan’s Nikkei 225 was set to open higher, with the futures contract in Chicago at 43,325, while its counterpart…
Circle Internet Group Initial Public Offering at the New York Stock Exchange in New York City, U.S., June 5, 2025. NYSECircle Internet Group stock tumbled more than 5% in extended trading Tuesday after it said it would offer 10 million Class A shares to the public.Of the total stock being offered, 2 million shares will be offered by Circle. The remaining 8 million shares will be sold by stockholders. The stablecoin issuer’s shares have soared more than 450% since it went public on June 5. As part of the offering, Circle is offering its underwriters a 30-day option to buy…
