May PCE: Fed’s favored inflation gauge accelerated in May

Clear Harbor Asset Management founder and CEO Aaron Kennon analyzes the Federal Reserve’s recent hawkish pivot under chairman Kevin Warsh on ‘Making Money.’ The Federal Reserve’s preferred inflation gauge rose in May as price pressures persist in the wake of the energy shock caused by the Iran war. The Commerce Department on Thursday reported that…

Read Full News

Potential JPMorgan CEO successors named as top executive retires

Check out what’s clicking on FoxBusiness.com. The race to succeed America’s top banker is on. Sources inside JPMorgan Chase, the nation’s top bank, say the elevation of two senior executives Doug Petno and Troy Rohrbaugh as co-presidents of the company, sets up a long-awaited horse race to succeed the voluble Jamie Dimon, its CEO for the past two-plus decades…

Read Full News

IBM stock pops as company unveils chip ‘the size of a fingernail’ in AI push

What happened: IBM (IBM) shares surged 2% in premarket trading on Thursday. What’s behind the move: The enterprise information technology company unveiled what it called the world’s first sub-1-nanometer (nm) chip technology. “IBM’s new sub-1 nm chip packs nearly 100 billion transistors onto a chip the size of a fingernail, nearly twice the density of IBM’s…

Read Full News