Money

By Paul R. La Monica, CNN Business Maybe that October market rally has some legs after all? Stocks were mostly unchanged Wednesday, even as a fresh batch of economic data revealed continued strength in the job market and America’s services sector. That’s led to new worries that the Federal Reserve’s aggressive rate hikes, meant to

By Hanna Ziady, CNN Business OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections. The group of major oil producers, which includes Saudi Arabia

By Parija Kavilanz, CNN Business REI has quit Black Friday, forever. For the past seven years, the retailer has closed its doors on the day after Thanksgiving to give its employees a day off. The Seattle-based seller of outdoor clothing and gear said October 4 that starting this year, every part of its business —

By Nicole Goodkind, CNN Business Persistently high inflation, the Federal Reserve’s tightening policy and record-breaking US debt have wreaked havoc on US Treasuries this year. Now, economists are noting a fundamental and worrisome imbalance in the bond market. There are trillions of dollars worth of bonds for sale, they say, but a growing scarcity of

By Laura He and Emiko Jozuka, CNN Business A quarter of a century ago, a major financial crisis ripped through Asia, shaking its economies to the core. Now, the ghost of 1997 is haunting the region again. Currencies and stock markets in Asia’s biggest economies have plunged to lows not seen in decades, as a

By Oliver Darcy, CNN Business On Monday night, inside the upscale Parisian restaurant L’Avenue at Saks in midtown Manhattan, MSNBC President Rashida Jones hosted an intimate dinner to celebrate Alex Wagner. The glitzy event was attended by some of the most elite names in media, including MSNBC host Chris Hayes, Vanity Fair Editor-In-Chief Radhika Jones,

By Peter Valdes-Dapena, CNN Business Average car prices are shooting higher and higher thanks to continued auto parts shortages. Interest rates are rocketing higher thanks to the federal government’s efforts to control inflation. And car companies and dealers have less incentive to take steps to bring down costs because demand is still vastly greater than