Fuel prices are displayed at gas stations on March 03, 2022 in Chicago, Illinois. Increasing demand and dwindling supplies coupled with global supply uncertainty driven by the war in Ukraine have driven gas prices over $4-per-gallon in many parts of the country. Scott Olson | Getty Images Gas prices are surging, with the national average
Finance
Small businesses will be facing growing challenges from inflation and higher wages, Chicago Federal Reserve President Charles Evans said Friday. Even with average earnings flattening out in February, Evans told CNBC that he hears from smaller companies in his district about the challenges from cost increases. “I think there are a lot of business models,
Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland. David Paul Morris | Bloomberg | Getty Images War in Ukraine only heightens the need for higher interest rates to get inflation under control, Cleveland Fed President Loretta Mester said Thursday. The attack from Russia has pushed commodity prices higher, particularly
In this article BAC YELP NFLX MSFT Big banks and corporations like Yelp, Netflix, and Microsoft have announced major investments in Black-owned banks. Yet Black banks are far from thriving. Americans who identify solely as Black or African American make up 13.4% of the U.S. population today, but less than 1% of all FDIC-insured banks
In this article XOM Darren Woods, Chairman and CEO, Exxon Mobil. Katie Kramer | CNBC U.S. oil surged to the highest level since 2008 on Thursday, and Exxon CEO Darren Woods said prices could be heading much higher. “If there is a significant supply disruption with respect to Russian crude … that will be very
An employee brings a television to a customer’s car at a Best Buy store in Orlando, Florida. Paul Hennessy | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Best Buy — The retail stock jumped 8% after the company announced it was raising its quarterly dividend by 26%. The move
In this article BIG KR BJ BBY BURL SNOW Take a look at some of the biggest movers in the premarket: Best Buy — Shares of the retailer climbed 5% in premarket trading after the company announced it was raising its quarterly dividend by 26%. The move comes despite an underwhelming fourth-quarter report from Best
Ukraine has started to accept dogecoin and a number of other cryptocurrencies as donations as Russia continues its invasion. Nurphoto | Getty Images Ukraine has expanded the number of cryptocurrencies it is accepting for donations toward its military as Russia’s invasion continues. On Wednesday, Mykhailo Fedorov, vice prime minister of Ukraine, said people can send
A summer wheat harvest in Chernihiv, Ukraine, on Thursday, Aug. 10, 2017. Vincent Mundy | Bloomberg | Getty Images Wheat futures reached new multiyear highs Wednesday, as war between major exporters Russia and Ukraine continued to raise concerns about the global supply of the commodity. The moves in the commodity market come amid reports that
U.S. stock index futures were modestly lower during overnight trading Wednesday, after the major averages finished the day higher despite escalating tensions between Russia and Ukraine. Futures contracts tied to the Dow Jones Industrial Average declined 28 points. S&P 500 futures shed 0.11%, while Nasdaq 100 futures dipped 0.2%. During regular trading on Wednesday the
In this article DKNG FSLR F CRM JWN Pedestrians walk past a Nordstrom Inc. store. Ben Nelms | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Nordstrom — Shares of the department store rallied a whopping 39% after the company reported better-than-expected profits and sales for the holiday quarter. The
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell addresses the U.S. House Committee on Financial Services on Wednesday in the first of a two-day appearance on Capitol Hill. The central bank leader delivers