Finance

New York Federal Reserve President John Williams said Friday that high prices for stocks and other assets are justified in light of a growing economy and low interest rate landscape. With stocks pushing to new heights on valuations not seen in decades, and as corporate bond yields plunge, the central bank official said he’s not

Citadel CEO Ken Griffin dismissed as “flat out false” the accusation that his firm improperly uses information it garners from its market-making operation. Griffin spoke in an interview with CNBC on Friday, one day after Citadel and other market makers came under scrutiny from Congress about their role in last month’s GameStop mania. “I think

A worker repairs a power line in Austin, Texas, U.S., on Wednesday, Feb. 18, 2021. Thomas Ryan Allison | Bloomberg | Getty Images The Electric Reliability Council of Texas, which is known as ERCOT and controls the majority of the state’s power, said it has returned to normal conditions on Friday, as power has been

Traders on the floor of the New York Stock Exchange. Source: The New York Stock Exchange Stock futures were lower in overnight trading on Thursday after Treasury Secretary Janet Yellen said a large Covid relief package is still needed for a full recovery in the U.S. Futures on the Dow Jones Industrial Average slipped 94 points.

Former Federal Reserve Chair, Janet L. Yellen, President- elect Joe Biden pick to be Treasury Secretary, speaks at the Queen in Wilmington, DE on December 1, 2020. Demetrius Freeman | The Washington Post | Getty Images Treasury Secretary Janet Yellen said Thursday that any tax increases sought by the Biden administration to help pay for

A worker wearing a protective mask arranges shopping carts outside a Walmart store in Duarte, California, U.S., on Thursday, Nov. 12, 2020. David Swanson | Bloomberg | Getty Images Check out the companies making headlines in midday trading.  Walmart — Shares of the big box retailer dropped more than 5% after disappointing quarterly earnings. Walmart

The GameStop Corp. logo on a laptop computer and Robinhood application on a smartphone. Tiffany Hagler-Geard | Bloomberg | Getty Images Rep. Ro Khanna, Silicon Valley’s lawmaker in Congress, on Thursday proposed a bill aimed at bulking up the Internal Revenue Service’s enforcement tools and ability to crack down on tax evasion. The legislation, if

The chiefs of Robinhood, Reddit, Citadel and Melvin Capital, are headed to Washington for Thursday’s highly anticipated GameStop hearing at the U.S. Congress. Lawmakers will get their chance to grill the CEOs, as well as the Reddit trading star known as Roaring Kitty, about last month’s GameStop trading turmoil. Robinhood CEO Vlad Tenev, Melvin Capital

Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks during the Sooner Than You Think conference in the Brooklyn borough of New York on Tuesday, Oct. 16, 2018. Alex Flynn | Bloomberg | Getty Images Cathie Wood said Ark Invest is still bullish on Tesla and continues to buy

Check out the companies making headlines in after-hours trading on Tuesday. Verizon – Shares of the telecommunications giant were up 2% in after-hours trading after Warren Buffett’s Berkshire Hathaway revealed a big stake in Verizon. As of Dec. 31, Berkshire Hathaway owned 146,716,496 Verizon shares worth $8.6 billion at the end of 2020. SolarEdge –

U.S. stock index futures were modestly lower in overnight trading on Tuesday after the Dow closed at a record high. Futures contracts tied to the Dow Jones Industrial Average slid 47 points. S&P futures were were down 0.23%, while Nasdaq 100 futures declined 0.33%. The move comes after the Dow closed at a record high

Evor-Lite site. Source: Eavor Technologies Canada-based geothermal company Eavor Technologies on Tuesday announced a $40 million funding round that included participation from BP Ventures and Chevron Technology Ventures as big oil companies increase investments in renewable energy. Geothermal power is renewable energy produced from underground heat. The U.S. Department of Energy calls geothermal a “vital

Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future. Artur Widak | NurPhoto | Getty Images Bitcoin’s price reached a new record high of almost $50,000, as major Fortune 500 companies showed support for digital

Pedestrians walk in snow past the Wall Street subway station near the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images Futures contracts tied to the major U.S. stock indexes rose in extended trading Monday evening after finishing strong last week. Dow futures rose 215 points, suggested an implied open of about the

Neil Woodford, Woodford Investment Management. Woodford Investment Management LONDON — Neil Woodford, the former U.K. star stockpicker whose investment firm collapsed in 2019, has said “sorry” to investors for losses as he shared plans to make a comeback with a new business.  Woodford said in an interview with The Telegraph, published Saturday, that he was

Chris Ratcliffe | Bloomberg | Getty Images LONDON — Bill Michael, U.K. chairman of accounting giant KPMG, has quit his role after telling staff to stop moaning about the coronavirus pandemic during a virtual meeting earlier this week.  KPMG on Friday confirmed that Michael, who has headed up the U.K. firm since 2017, had resigned

A visitor wearing a mask walks outside the Shanghai Disney Resort, that will be closed during the Chinese Lunar New Year holiday following the outbreak of a new coronavirus, in Shanghai, China January 24, 2020. Aly Song | Reuters Check out the companies making headlines in midday trading.  Walt Disney Company — Shares of the

The New York Stock Exchange welcomes Desktop Metal Inc. (NYSE: DM), today, Thursday, December 10, 2020, in celebration of its listing. To honor the occasion, Ric Fulop, Co-Founder and CEO, rings The Opening Bell®. NYSE Roger Lee of Battery Ventures says that “SPAC” used to be a “bad four-letter word” in Silicon Valley. Now, the

Luis Alvarez The GameStop bubble has come and gone but the rookie investors who speak emoji and Reddit may be here to stay with big implications for brokerage firms, as well as traditional investors who must pay closer attention to where this fast-moving, smartphone app-wielding crowd is moving next. “We believe some of the new

Senator Amy Klobuchar speaks at the Democratic 2020 U.S. presidential candidates debate at Saint Anselm College in Manchester, New Hampshire, U.S., February 7, 2020. Brian Snyder | Reuters There is growing hostility to mergers and acquisitions (M&A) among an increasing number of policymakers in Washington, D.C. Last year, some in Congress called for a merger