The economy is down nearly 10 million jobs since last February, prospects for a rapid recovery — while brighter — remain far from assured, and as Democrats try to move a $1.9 trillion relief package through Congress, Republicans argue that it’s too big and could lead to inflation that would hurt consumers and businesses. Speaking against that tense backdrop on […]

CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, Pippa Stevens breaks down the slide in Tesla stock. Plus Courtney Reagan explains Macy's first quarterly profit in over a year. Tesla drops as much as 13%, turns negative for the year Tesla suffered steep losses at the opening bell on Tuesday as investors rotated out […]

When Gamestop (GME) and several other Reddit-hyped stocks soared recently, investment apps including Robinhood came under fire for temporarily halting stock purchases. This news also put the practices of popular investing apps, including the compensation model called payment for order flow, under the magnifying glass. If you’re looking for signs that you can trust an investment app with your money, research […]

LONDON (Reuters) – The $6.2 billion-an-hour rise in the value of world stocks since March was dubbed the “mother of all asset bubbles” by BofA analysts last week – and all of a sudden there is a high-pitched hissing sound.FILE PHOTO: Dividers are seen inside a trading post on the trading floor as preparations are made for the return to […]

(CNN)Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Tonight: Kap joins the SPAC craze; Uber’s staggering loss is still actually pretty good news; and don’t forget your spare quarters — Aldi’s going all in on America. Let’s get into it. SPAC-ERNICK Colin Kaepernick, the […]

Vaccinations and falling case counts “offer hope for a return to more normal conditions later this year,” Jerome Powell said. The statement is among the most bullish to come from the Fed chair since the pandemic began. Still, Powell warned the path forward is “highly uncertain” and the recovery “remains uneven.” Visit the Business section of Insider for more stories. Encouraging […]

More than five decades have passed since the Fair Housing Act of 1968 outlawed housing discrimination on the basis of race, sex, national origin and religion. Yet, segregation persists in some of America’s largest cities, with white Americans living in majority-white neighborhoods and Black Americans in majority-Black neighborhoods. The patterns of segregation in many major metropolitan areas can be traced […]

FILE PHOTO: People wearing protective masks shop at Macy’s Herald Square following the outbreak of the coronavirus disease (COVID-19) in the Manhattan borough of New York City, New York, U.S., December 26, 2020. REUTERS/Jeenah MoonWASHINGTON (Reuters) – U.S. consumer confidence increased in February, likely lifted by declining new COVID-19 infections and expectations for additional fiscal stimulus. The Conference Board said […]