Port strike to rock economy, Main Street
SMBC Chief Economist Joe LaBonna spoke on “The Big Money Show” about the impact of extended port closures. More than 45,000 longshoremen are on strike across the East Coast. The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX), which represents port employers, are at an impasse in negotiations over the union's demands […]
Charles Schwab’s CEO to retire
DR Barton, principal at Woodshaw Financial Group, argues that the recent market correction has created a great buying opportunity for Barney & Company. Walt Bettinger will retire from his long-time role as CEO of Charles Schwab at the end of 2024. The financial company announced Bettinger's retirement plans on Tuesday, linking upcoming leadership changes to […]
Charles Payne Says Biden-Harris Admin Displayed ‘Massive Indifference To Americans’ By Not Halting Strike
Fox Business host Charles Payne told Fox News host Harris Faulkner Tuesday that President Joe Biden and Vice President Kamala Harris “just sat by” as a crippling strike at dozens of ports started. The International Longshoremen’s Association (ILA) started striking at midnight Tuesday after failing to reach an agreement on a new contract. Payne said […]
CVS to slash 2,900 jobs
See what's being clicked on FoxBusiness.com. CVS Health announced it will cut 2,900 jobs as part of a cost-cutting plan. A CVS spokesperson told FOX Business that the layoffs primarily impact the company's standing. According to the CVS website, CVS employs more than 300,000 people across its divisions. The layoffs represent 1% of the company's […]
Dockworkers Launch Massive Strike With Just Five Weeks Until Election Day
Thousands of unionized dockworkers went on strike just after midnight on Tuesday at 14 major ports along the East Coast and the Gulf Coast, setting the stage for possible supply chain disruptions with about a month to go until Election Day, according to Axios. The International Longshoremen’s Association (ILA) announced in an early-morning Tuesday Facebook […]
Nvidia rocks large tech ETF
Adam Covissi, editor-in-chief of the Covissi Letter, argues that recession fears are overblown, despite rising volatility in Making Money. Investors in the giant SPDR technology sector fund may be surprised to learn that until last week, its exposure to Nvidia was about four times that of Apple, despite their comparable market values. The disparity was […]
China’s stock market is on fire
Claman Countdown panelists Steve Raipli and John Petrides evaluate economic data and the global economy. Chinese stocks posted their biggest one-day gain since 2008 on Monday, with domestic A-shares climbing as investors scrambled to take part in the wild rally sparked by the Chinese government's latest round of stimulus measures. recorded the highest trading volume […]
Deadline looms for SEC to appeal Ripple ruling
Shah Gilani, chief investment strategist at Money Map Press, spoke before the opening bell about his outlook for the market and why he bought Coinbase at Varney & Company. The future of U.S. cryptocurrency regulation will depend on whether Wall Street's top executives make a long-awaited decision on whether to appeal the ruling in a […]
CEO exits up at unprecedented rate, study finds
Workplace expert Andy Challenger talks about why CEOs leave and how they affect companies. CEOs are leaving their posts at a higher rate than last year, when CEO turnover hit a record high. Latest CEO change report As of the end of August, 1,450 CEOs had announced their resignations, the highest total since the start […]
Stocks, gold and another winning week on Wall Street
Dominari Financial CEO Kyle Uhl analyzes the latest inflation data as the 2024 presidential election heats up Varney & Co. Stocks continue to rise, hitting new records this week thanks to another impressive inflation report. Not to be outdone, gold has also been on a rise of its own, hovering at all-time highs. An impending […]