Swedish buy now, pay later lender Klarna (KLAR) is set to go public on the New York Stock Exchange on Wednesday after raising $1.37 billion in its initial public offering. According to Bloomberg, the fintech company and its backers sold 34.3 million shares for $40 per share in the oversubscribed IPO, which gives the company…
A series of appearances this past week saw Chinese President Xi Jinping all smiles alongside a variety of America’s rivals. The events — a summit that was then followed by a military parade — have gotten plenty of notice. And they’ve clearly gotten under President Trump’s skin, with the president’s latest missive on Friday declaring…
The US labor market is slowing down. After a round of weaker-than-expected job market figures this week, the Bureau of Labor Statistics (BLS) will release the August jobs report on Friday morning at 8:30 a.m. ET. The report is expected to confirm these trends seen elsewhere in the US economy. Economists expect the US economy…
US stock futures climbed up as investors braced for key labor market data, with an interest rate cut now seen as all but certain. Futures attached to the Dow Jones Industrial Average (YM=F) traded flat. Futures attached to the benchmark S&P 500 (ES=F) ticked up 0.1%. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) rose…
President Trump is scheduled to dine with tech executives from Apple, Meta, Google and OpenAI on Thursday night at a White House event in the newly renovated Rose Garden. The gathering is the latest example of how the world’s most powerful tech leaders are forging stronger ties with Trump’s second administration. There’s one high-profile tech…
Stephen Miran pledged to lawmakers Thursday that he will act independently if he were confirmed as a new governor on the Federal Reserve Board, but he won’t step down from his current White House post. He said that he was counseled to take a leave of absence as chair of the Council of Economic Advisers…
Electric vehicle makers like Tesla (TSLA), GM (GM), and Ford (F) will be in a world of pain when President Trump’s “One Big Beautiful Bill Act” (OBBB) ends federal EV tax credits later this month. Sales of EVs in the US are expected to be cut in half compared to current levels, at least according…
If you believe President Trump, the US economy is on the verge of collapse. That’s because a federal appeals court invalidated most of Trump’s import tariffs on Aug. 29, an outcome Trump said would be disastrous. “There is no substitute for the tariffs and deals that President Trump has made,” the Trump administration said in…
After becoming net sellers of US stocks in August, hedge funds remain hesitant about buying as September trading kicks off, Reuters reports. The month has often been a downbeat one for markets. History looks set to repeat itself, even with a potential US interest-rate cut on the horizon. Seasonal red flags, market fragility, a China…
Businesses have been hoping for clarity as President Trump’s trade war enters its eighth month. Instead, they’re getting more confusion and prolonged uncertainty as legal challenges upend a fundamental premise of the whole scheme. A federal appeals court ruled on Friday that most of the tariffs Trump has imposed so far are illegal. Many trade…