34 Burst results for "Pnc Financial"

"pnc financial" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:21 min | 3 months ago

"pnc financial" Discussed on WNYC 93.9 FM

"Tomorrow we'll get the latest case. Schiller home Price numbers to give us a snapshot of just what the housing market looks like. Right now. And while would be homeowners, longingly, browse online listings. The Federal Reserve is walking a tight rope. The central bank wants to give the economy just enough juice to get it moving out of the pandemic recession but not so much that it's creating speculative bubbles. Boston Fed president Eric Rosengren told the Financial Times. Quote. We can't have a boom and bust cycle in something like real estate market places. Marielle Segarra has more on just how hard it is to strike the perfect balance. Last year, the Federal Reserve started doing everything it could to keep the economy afloat and one of the main ways it's been doing that is it buys up and has been buying up since the beginning of the pandemic. Billions and billions of dollars of mortgage backed securities. That's Peter Conti Brown, who teaches about the Fed at the Wharton School. When the Fed buys mortgage backed securities that allows banks to lend out more money and with a bigger supply of money to lend out its price, otherwise known as the interest rate drops, home buying becomes more attractive and housing demand goes up as we've seen. Prices have been going bananas in the housing market, and this is closely related to the feds. Traumatic interventions. There was another factor. A lot of people wanted to get out of small apartments and buy bigger houses. The Fed doesn't buy mortgage backed securities because it has a special preference for housing. It's just that the central bank's tools are limited. The Federal Reserve Act really restricts the kinds of bonds that the Fed can buy. In ordinary times, and it allows for the purchase of mortgage backed securities in a way that it doesn't allow for the purchase of other kinds of securities. Absent an emergency. Now, the Fed has not pulled back from buying mortgage backed securities because it's still trying to stimulate the economy. Suppose she is chief economist at PNC Financial Services Group. The concern is is that if the Fed over stimulates the economy in particular over stimulates the housing market that could result in a housing bubble, where house prices increased rapidly and then fall rapidly. So she says. We're not there yet. And in his comments, Eric Rosengren at the Boston Fed said This may not happen. But the situation shows what a fine line the Fed.

Marielle Segarra PNC Financial Services Group Peter Conti Brown Eric Rosengren Last year Tomorrow Billions Federal Reserve Fed Federal Reserve Act Financial Times Boston Fed bank billions of dollars Wharton School one of main A lot of people president Schiller
US Adds 559K Jobs as Firms Still Struggle to Fill Positions

AP News Radio

00:45 sec | 4 months ago

US Adds 559K Jobs as Firms Still Struggle to Fill Positions

"There is more evidence employers are having trouble finding workers as the economy rapidly reopens businesses added five hundred fifty nine thousand jobs last month this is a good report it's not a great report economists like PNC financial services group's Gus voce had predicted closer to six hundred fifty or seven hundred thousand jobs job postings hit a record high with employers caught off guard by the fast recovery looking to hire immediately wages were up for a second straight month but the number of people working or looking for work dropped in may after three months of games the unemployment rate fell from six point one two five point eight percent Sager made Donnie Washington

Pnc Financial Services Group Gus Voce Sager Donnie Washington
"pnc financial" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:45 min | 9 months ago

"pnc financial" Discussed on Bloomberg Radio New York

"Wall Street. It's time to take a look at stocks. Some of the names moving in the premarket Bloomberg stocks editor Dave Wilson joins us minutes ahead of the first of the Six big banks to report earnings. JP Morgan Citigroup. Wells Fargo. I'm sure they're on their radar this morning, Dave. Oh, absolutely, and their lower in early trading JP Morgan off the half a percent was far going city down about three quarters of a percent. You know, JP Morgan. We should get their results within the next 10 minutes or so. The bank's fourth quarter adjusted Ortiz were little changed. Based on the average estimate of analysts and Bloomberg survey. They expect revenue to have dropped 2%. On average. We should also have numbers in the next few minutes from one of the biggest regional banks, PNC Financial and that within the next hour and a half or so Wells Fargo and Citigroup will be out. And there are a couple of companies in transition. You know Wells Yesterday we reported a person from their the matter, saying the company's in talks to sell its asset management business to a private equity group on then it's city. You've got to see yo transition going on the current CEO Michael Corbat, stepping down the end of the month, will be succeeded by Jane Fraser, who runs Citi's consumer banking business. She'll be the first woman to run a major Wall Street bank. Also this week, City said it will combine consumer wealth wears renting private banking unit. So you know both companies, analysts looking for earnings and revenue to be down for the fourth quarter, but it's really as much as anything about the transition's going on at those banks. No, of course, Once those JP Morgan results across the Bloomberg terminal, we will bring them to you here on Bloomberg radio. But aside from the financial state when you got the look and I got an idea Well, there's a transition going on monster beverage is well, I mean, the shares were up half a percent in early trading. The energy drink maker named President Hilton Schlossberg to service co CEO with Rodney Sacks, who's run monstrousness 1990. Slosberg had been chief financial officer where he was succeeded by another top executive, Greg Kelly. Watching game stopped to see if it can go. Uh Five days with gains. The video game retail is more than doubled this week is trading a search. All this triggered by game stops granting a three board seats to a second largest shareholder to calm co founder Ryan Colin. And in early trading today, Gamestop is up 2% and had a couple of initial public offerings from yesterday to watch Posh Mark, which is down 1.5%. It's an online marketplace with second hand goods sort 142% of its first day of trading. And Petco Health and Wellness up one half percent moment yesterday climbed 63% in its debut, so we'll see how those.

JP Morgan Citigroup JP Morgan Bloomberg Dave Wilson CEO Petco Health and Wellness City Wells Fargo Jane Fraser Wells Slosberg PNC Financial editor President Hilton Schlossberg Gamestop Ortiz Ryan Colin chief financial officer co founder Greg Kelly
"pnc financial" Discussed on AP News

AP News

04:48 min | 9 months ago

"pnc financial" Discussed on AP News

"I'm a Donahue with an AP News MINUTE, California surpassed 25,000 coronavirus death since the start of the pandemic, the third state to do so after New York and Texas in New York City. Mayor Bill de Blasio has big plans for vaccinations. One million in January. We're gonna expand from our hospitals, clinics toe Community clinics. Toe locations will set up all over the neighbors in this city. Our goals to get Tau upwards of 250 locations citywide. Dr. Anthony Fauci says the rollout of the vaccine has been slower than he expected. Hopefully As you get into the first couple of weeks in January, the gaining of momentum will get us to the point where we want to be. But there really has to be a lot more effort in the sense Of resource is for the locals, namely the States, the cities the county's the places where the vaccine is actually going into the arms of individuals. Now she was on NBC's Today show. I'm a Donahue, The S and P. 500. The Dow have closed out 2020 at record highs in a day, not reflective of the turbulent year. The SNP down on the NASDAQ wavered between small kings and losses most of the day. For all finishing the trading session in positive territory. The SNP gain 24 to a record 7 3056 finishing up more than 16% for the year. The NASDAQ composite added. 18 to 12 88, powered by high flying big tech stocks soared 43.6% for the year. The Dow added. 197 points on the day closing at a new record of 30,006 06. The blue chip index finished 2020 with a 7.2% gain Apple and Microsoft leading the way. But as for the overall economy and particularly the job market, PNC Financial Services Group chief economist gusto, Shea says it could be a slow start for 2021. I don't think we'll see out right job losses, but certainly much weaker than what we saw. You know, over the past, you know, let's say half year or So, but I do think that by the spring things will be getting better. That will have more people vaccinated that people will feel more comfortable going out. I'm Ben Thomas in a day, not reflective of the turbulent year the S and P down. The NASDAQ wavered between small kings and losses before all finishing the trading session in positive territory. Yes, MP gained 24 to a record 7 3056 finishing up more than 16% for the year, the Dow added. 197 It's on the day closing at a record 30,006 06 and powered by big tech stocks. The NASDAQ composite closed out the year with the 43.6% gain. But as for the overall economy and particularly the job market, PNC Financial Services Group chief economist gusto, Shea says it could be a slow start for 2021. But I do think that by the spring things will be getting better that will have more people vaccinated. People will feel more comfortable going out. I'm Ben Thomas today, not reflective of the turbulent year. The SMP down on the NASDAQ wavered between small kings and losses most of the day before all finishing the trading session. In positive territory. The SNP gain 24 to a record 7 3056. Finishing up more than 16% for the year. The NASDAQ composite added. 18 to 12 88, powered by high flying big tech stocks soared 43.6% for the year. The Dow added. 197 points on the day closing at a new record of 30,006 06. The blue chip index finished 2020 with a 7.2% gain. Apple and Microsoft leading the way. I'm Ben Thomas 80 News. I'm Ed Donahue, the S and P 500. The Dow Jones industrial average closed out 2020. With record highs. The AP is Ben Thomas as the story today, not reflective of the turbulent year. The SNP down on the NASDAQ wavered between small kings and losses most of the day before all finishing the trading session. In positive territory. The SNP gain 24 to a record 7 3056. Finishing up more than 16% for the year. The NASDAQ composite added. 18 to 12 88, powered by high flying big tech stocks soared 43.6% for the year. The Dow added. 197 points on the day closing at a new record of 30,006 06. The blue chip index finished 2020 with a 7.2% gain. Apple and Microsoft leading the way. I'm Ben Thomas, Minneapolis Police released Body Cam Video from a traffic stop last night that ended with a man shot to death. McGary A. Arredondo is the police chief..

Ben Thomas SNP Ed Donahue Apple Microsoft PNC Financial Services Group New York City chief economist Mayor Bill de Blasio Shea Dr. Anthony Fauci NBC Texas California Minneapolis Police McGary A. Arredondo
"pnc financial" Discussed on AP News

AP News

04:47 min | 9 months ago

"pnc financial" Discussed on AP News

"Coffee represents 3% of Honduras is gross domestic product. I'm Ed Donahue. AP News I'm Ed Donahue with an AP News Minute It's New Year's Eve. And because of the Corona virus pandemic, there are no big crowds in Times Square in New York, much to the chagrin of store. Owner Alley Jameel very, very different. Not quiet unity. She is dead. Said. We do business you now zero. He's hoping for better in 2021 we are dreaming for come back again. Like before. You know way hope so. President Trump is back early at the White House, he delivered an end of year message on Twitter in the face of great challenges. This year, American showed incredible grit, strength, tenacity and resolved. And together we achieved truly historic victories like nobody ever thought possible. The White House didn't give a reason for the president's early return, and the schedule change means he will miss the glitzy New Year's Eve party at his Florida club. Wall Street closed down a tumultuous year for stocks with more record highs. The pandemic shocked markets early in the year. I'm Ed Donahue. Happy news. I'm Ben Thomas. California has surpassed 25,000 deaths from Corona virus. AP correspondent Shelly Adler a search has swamped hospitals with covert 19 patients in Southern California and San Joaquin Valley hospitals or housing patients in hallways, conference rooms, a cafeteria and gift shops. The new strain of the virus that has shown up in the Golden State could make things worse. Dr Anthony Fauci was on NBC's Today show. Obviously, you have to take it very seriously are British colleagues have shown clearly that it is much more efficient and spreading. From person to person in Los Angeles County this week. There were 274 deaths in 24 hours due to covert 19. I'm Shelley Antler. The number of Americans seeking unemployment benefits fell by 19,000 in the Labor Department's latest report, but the total 787,000 is nearly four times higher than a year ago. PNC Financial Services Group chief economist Joseph O'Shea says he expects 2021 to get off to a slow start. I don't think we'll see out right job losses but certainly much weaker than what we saw, you know, over the past, you know, let's say half a year or so. But I do think that by the spring things will be getting better that will have more people vaccinated. People will feel more comfortable going out in Columbus, Ohio. Some light has been shed on a deadly police shooting last week. Civil rights attorney Ben Crump, the police Department in the city leadership. From the mayor's office made the responsible decision. To release all the body cam video of all the officers. The video shows two officers handcuffing Andre Hill after he was shot but offering no first aid. The officer who shot Hill has been fired and remains under investigation. This is AP News. The S and P 500. The Dow have ended 2020 Atmore record highs. The SNP rose 20200.6% on the day to 7 3055 and ended the year up 16%. Dow gained 196 points today, finishing at 30,006 05. And his Britain prepares to split from the European Union. The father of Prime Minister Boris Johnson appears to be seeking closer ties with the U he's applying for French citizenship. AP correspondent Syria shackle. He has more Sally Johnson told broadcaster article that was in the process of reclaiming his French identity. Johnson says his mother was born in France article said Johnson's putting together a French citizenship requests. The elder Johnson is a former member of the European Parliament who backed remaining in the EU in Britain's 2016 membership referendum. He has since expressed support for his son as a prime minister led the U. K out of the block. Syria. Shockley, London and I'm Ben Thomas. AP News 80 NEWS. I'm Ed Donahue, Hospital worker in Wisconsin has been arrested accused of spoiling doses of the Corona virus vaccine. Pharmacist is accused of removing hundreds of doses from refrigeration. We became increasingly suspicious of the behavior of the individual in question. Dr Jeff Bharat Aurora Health Care medical group, said. The pharmacist has been fired. We're really not able to make any judgments on motive at this time. That's something that I'm sure will be looked at by the authorities that are now handling the investigation. The Moderna vaccine is viable for 12 hours outside refrigeration workers used the vaccine to inoculate 57 people. Before discarding the rest. Majorino has clarified there will be no harm or negative effect from having received the vaccines..

Ed Donahue AP Prime Minister Boris Johnson Alley Jameel Ben Thomas Syria European Union New York Corona Dr Anthony Fauci Britain Times Square Honduras President Trump White House Los Angeles County PNC Financial Services Group California
"pnc financial" Discussed on AP News

AP News

04:30 min | 9 months ago

"pnc financial" Discussed on AP News

"The new home for pros US only Donahue with an AP News Minute, California surpassed 25,000 coronavirus death since the start of the pandemic, the third state to do so after New York and Texas. In New York City Mayor Bill de Blasio has big plans for vaccinations. One million in January. We're gonna expand from our hospitals or clinics, toe community clinics, toe locations will set up all over the neighbors in this city. Our goals to get to upwards of 250. Locations citywide. Dr. Anthony Fauci says the rollout of the vaccine has been slower than he expected. Hopefully, as you get into the first couple of weeks in January Gaining of momentum will get us to the point where we want to be. But there really has to be a lot more effort in the sense of resource is for the locals, namely the States, the cities, the counties The places where the vaccine is actually going into the arms of individuals found she was on NBC's Today show. I'm Ed Donahue, the S and P. 500. The Dow have closed out 2020 at record highs in a day, not reflective of the turbulent year. The SNP down on the NASDAQ wavered between small kings and losses most of the day. For all finishing the trading session in positive territory. The SNP gain 24 to a record 7 3056 finishing up more than 16% for the year. The NASDAQ composite added. 18 to 12 88, powered by high flying big tech stocks soared 43.6% for the year. The Dow added. 197 points on the day closing at a new record of 30,006 06. The blue chip index finished 2020 with a 7.2% gain Apple and Microsoft leading the way. But as for the overall economy and particularly the job market, PNC Financial Services Group chief economist gusto, Shea says it could be a slow start for 2021. I don't think we'll see out right job losses, but certainly much weaker than what we saw. You know, over the past, you know, let's say half year or So, but I do think that by the spring things will be getting better. That will have more people vaccinated that people will feel more comfortable going out. I'm Ben Thomas in a day, not reflective of the turbulent year the S and P down. The NASDAQ wavered between small kings and losses before all finishing the trading session in positive territory. Yes, MP gained 24 to a record 7 3056 finishing up more than 16% for the year, the Dow added. 197 It's on the day closing at a record 30,006 06 and powered by big tech stocks. The NASDAQ composite closed out the year with the 43.6% gain. But as for the overall economy and particularly the job market, PNC Financial Services Group chief economist gusto, Shea says it could be a slow start for 2021. But I do think that by the spring things will be getting better that will have more people vaccinated. People will feel more comfortable going out. I'm Ben Thomas in a day, not reflective of the turbulent year. The SMP down on the NASDAQ wavered between small kings and losses most of the day. For all finishing the trading session in positive territory. The SNP gain 24 to a record 7 3056 finishing up more than 16% for the year. The NASDAQ composite added. 18 to 12 88, powered by high flying big tech stocks soared 43.6% for the year. The Dow added. 197 points on the day closing at a new record of 30,006 06. The blue chip index finished 2020 with a 7.2% gain. Apple and Microsoft leading the way. I'm Ben Thomas 80 News. I'm Ed Donahue, the S and P 500. The Dow Jones industrial average closed out 2020. With record highs. The AP is Ben Thomas has the story today, not reflective of the turbulent year. The SNP down on the NASDAQ wavered between small kings and losses most of the day before all finishing the trading session. In positive territory. The SNP gain 24 to a record 7 3056. Finishing up more than 16% for the year. The NASDAQ composite added. 18 to 12 88, powered by high flying big tech stocks soared 43.6% for the year. The Dow added..

Ben Thomas SNP Ed Donahue PNC Financial Services Group chief economist New York Apple Shea Bill de Blasio Dr. Anthony Fauci Microsoft NBC Texas California
S&P 500 ends at another record high as tumultuous 2020 ends

AP News Radio

01:14 min | 9 months ago

S&P 500 ends at another record high as tumultuous 2020 ends

"The S. and P. five hundred and the Dow have closed out twenty twenty at record heights okay not reflective of the turbulent year the S. and P. Dow and the nasdaq wavered between small gains and losses most of the day before all finishing the trading session in positive territory the S. and P. game twenty four to a record three thousand seven fifty six finishing up more than sixteen percent for the year the nasdaq composite added eighteen to twelve eighty eight powered by high flying big tech stocks that soared forty three point six percent for the year and the Dow added one hundred ninety seven points on the day closing at a new record of thirty thousand six oh six the blue chip index finished twenty twenty with a seven point two percent gain apple and Microsoft leading the way but as for the overall economy and particularly the job market PNC financial services group chief economist Gus poche says it could be a slow start for twenty twenty one I don't think we'll see outright job losses but certainly much weaker than what we saw you know over the past you know let the past year or so but I do think that by the spring things will be getting better that will have more people vaccinated the people will feel more comfortable going out I'm Ben Thomas

Pnc Financial Services Group Gus Poche Apple Microsoft Ben Thomas
US hiring likely slowed in September for 3rd straight month

AP News Radio

00:45 sec | 1 year ago

US hiring likely slowed in September for 3rd straight month

"The final jobs report before election day shows America's employers added six hundred and sixty one thousand jobs in September while the unemployment rate for September fell to seven point nine percent the labor department report also reflects a third straight month of slower hiring that does not surprise gust voce the chief economist with PNC financial services group we had big games as we had businesses were shut down re open but now these businesses are adapting to change circumstances and he sees the September report is a good news bad news story you can either say that the job market is in terrible shape with that the job market is a lot better than it was a few months ago so I think there are arguments on both sides actually after

America Chief Economist Labor Department PNC
"pnc financial" Discussed on AP News

AP News

03:40 min | 1 year ago

"pnc financial" Discussed on AP News

"Federal health officials suggest putting on something else. Doctors Debra Burkes and Anthony Fauci. Both say there's evidence face. Shields can help protect wearer. Some of the virus, Burkes tells Fox and friends. While the mask is primarily aimed at protecting others, Shields would help stop wearers from touching their eyes and spreading the virus, Douchey told ABC News yesterday. If you have goggles or an eye shield, you should use it. Soccer Megane Washington, The U. S economy shrank at a record breaking 33% rate last quarter as the virus shuttered businesses and triggered layoffs. Economists were expecting an ugly number for cute, too, and that's what they got by far the biggest contraction in the economy over 1/4 that we've seen since the Great Depression. PNC Financial Services Group chief economist Gust O'Shea, who says the third quarter GDP will be much better. The good news is that the number will be better in the third quarter and we will see the economy returned to growth. But the level of economic activities can continue to be much lower than it. Wass at the end of 2019. The bottom line as long as we have very high levels of cases, and I think it's going to be very difficult to see a strong economic recovery. Shelly Antler Washington President Trump is again claiming mail in voting will lead to fraud in the November election, and he's going a step further. For the first time, the president's floating a delay in the election that will decide whether he gets another term. He tweets Universal Mail in voting will lead to the most inaccurate and fraudulent election in history and then ask delay the election until people can properly securely and safely vote. His claims were unsubstantiated. Even in states with all voting done by mail. There is no evidence of widespread voter fraud. Federal election dates are set by Congress, not the president. The Constitution makes no provision for delaying the 2021 inauguration. Soccer Megane Washington Corona virus Update. I'm Rita Foley with an AP News Minute The latest snapshot of the economy is just out, and it's not good news. Lots of people are still losing their jobs every week. Chief economist Gus Fouche of PNC Financial Services more than 1.4 million laid off workers applied for unemployment last week. The economy shrank a 33% annual rate in the past few months, by far the worst plunge ever of its type Sagar mahogany on what the virus pandemic is doing to the economy. Consumer spending, which accounts for the bulk of economic activity collapsed as businesses shut down. Travel was all but frozen, and Americans largely stayed put. For a 19 straight week. More than a 1,000,000 people filed for jobless benefits this time. 1.4 million. The pain may get worse with Congress at an impasse over extending a supplemental $600 in a weekly federal unemployment benefits, which are due to expire soon. SOCCER Megane Washington I'm Rita Foley. The European Union has prolonged sanctions against dozens of North Korean officials and agencies for the year over Pyongyang's continued efforts to develop nuclear missiles and other Weapons of mass destruction. You headquarters said in a statement that the asset freezes and travel bans involved 57 people and nine entities, which typically companies, banks or other organizations and will be reviewed again in a year. It's said that lasting peace and denuclearization off the Korean peninsula must be achieved by peaceful means underlined that the diplomatic process must be continued as the only way.

president Debra Burkes PNC Financial Services Rita Foley chief economist Shields Congress Shelly Antler Washington ABC News Anthony Fauci Trump Gust O'Shea Wass Pyongyang SOCCER European Union
US economy shrank at record-breaking 33% rate last quarter

AP News Radio

00:50 sec | 1 year ago

US economy shrank at record-breaking 33% rate last quarter

"The U. S. economy shrank at a record breaking thirty three percent rate last quarter as the virus shuttered businesses and triggered layoffs Ocana miss were expecting an ugly number for Q. two and that's what they got that by far the biggest contraction in the economy over one quarter that we've seen since the Great Depression PNC financial services group chief economist Gus voce who says the third quarter GDP will be much better the good news is is that the number will be better in the third quarter and we will see the economy returned to growth but the level of economic activities can they continue to be much lower than it was at the end of twenty nineteen the bottom line as long as we have very high levels of cases and I think it's going to be very difficult to see a strong economic recovery showing out there Washington

Gus Voce Washington Chief Economist
"pnc financial" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:53 min | 1 year ago

"pnc financial" Discussed on WNYC 93.9 FM

"Quite nicely. Thanks. PNC Financial Services and U. S Bank Court reported as well also quite tidy profits. But they're the apparent similarities end because PNC and US Bancorp You a whole lot more consumer business than Goldman does. And they both reported setting aside more money a lot more money actually to handle loans that might go bad. We've been telling you about the past couple of days that that's the story on Wall Street right now. Now, why are banks so worried about whether consumers are going to pay them back? Well, because we're in the middle of a pandemic in a recession. Right? So maybe a better setup is exactly how big should their worry be. Marketplaces Nancy Marshall Ganz reports Big At the end of the first quarter of this year, US consumers were record $14.3 trillion in debt. There's a lot of debt out there reading McGrath is a professor at Columbia Business School. She points out that $14 trillion in consumer debt that was before the pandemic hit. This is a kind of a time bomb that's been coming for a long time. Now massive layoffs have left some consumers wondering how they're going to pay the bills. You know. Neo lost his job as a technician on the New York set of the CBS Siri's FBI back in March. They were two days away from wrapping up Episode 19 and they decided that not only we're not going to finish Episode 19 we weren't going to finish the remaining four episodes for the season. On and that was it. O'Neill is the breadwinner for his wife and two kids. They have a balance of about $20,000 on their discover card, plus a car lease payments, Student loan and the mortgage, O'Neill says. So far, he's been able to freeze all those payments they're getting by on his unemployment check that includes an extra $600 a week, which runs out at the end of this month. So when those programs which will run out, that's when I really panicked about what am I supposed to do? O'Neill says His first priorities will be the mortgage utilities and food. The credit card debt that comes last banks know that G. Scott Clemens, chief investment strategist at Brown Brothers, Harriman, says three of the biggest consumer banks have set aside billions in the second quarter to cover loans they might have to write off. But $30 billion of loan loss reserves for a single quarter tells you that they're anticipating a lot worse to come, Clements says. Crunch time could come as soon as this September, especially if unemployed people don't find new jobs or get any more help from the federal government. I'm Nancy Marshall denser for marketplace. It's none of my business. I know. But how many streaming services are you willing to pay for? I'm asking Because NBC's new platform peacock, it is cleverly gold. Launched today into a desperately crowded field but as marketplaces, Jasmine Guard reports This one might be a bit of a game changer..

O'Neill PNC Financial Services Nancy Marshall Ganz McGrath US Bancorp US Goldman NBC Nancy Marshall U. S Bank Court Columbia Business School Jasmine Guard New York FBI G. Scott Clemens Clements Neo Brown Brothers professor technician
"pnc financial" Discussed on AP News

AP News

02:00 min | 1 year ago

"pnc financial" Discussed on AP News

"Maguire with an AP News minute as Corona virus cases increase in 38 states Cos. Air, slowing their worker callbacks and increasing layoffs. The Labor Department says 1.3 million people applied for unemployment last week, about 100,000 less than a week before Gus for she is with PNC Financial. If we saw the number of cases decline if we weren't worried about I see you capacity, I think that would help. But unfortunately that doesn't appear to be on the horizon. By yesterday, Mississippi was out of I C u beds and its five largest hospitals while a form or we're reporting units near capacity as they struggle to treat the growing number of covert 19. Actions. The Big 10 won't play nonconference games and football and some other sports is fall because of the Corona virus pandemic. The league also warns it is prepared not to play at all to keep athletes safe. The announcement policy Ivy League calling off all of its fall sports I'm Tim Maguire. Corona Virus Update. I'm Tim Maguire with an AP News minute as Corona virus cases increase in 38 states Cos. Air, slowing their worker callbacks and increasing layoffs. The Labor Department says 1.3 million people applied for unemployment last week, about 100,000 less than a week before Gus for she is with PNC Financial. If we saw the number of cases decline if we weren't worried about I see you capacity, I think that would help, but unfortunately that doesn't appear to be on the horizon. By yesterday, Mississippi was out of I C u beds and its five largest hospitals. While a form or we're reporting units near capacity as they struggle to treat the growing number of covert 19 infections. The Big 10 won't play nonconference games and football and some other sports is fall because of the Corona virus pandemic. League also warns it is prepared not to play at all to keep athletes safe. The announcement policy Ivy League calling off all of its fall sports I'm to Maguire. Happy.

Tim Maguire Ivy League PNC Financial AP Mississippi Labor Department Gus football
"pnc financial" Discussed on AP News

AP News

01:58 min | 1 year ago

"pnc financial" Discussed on AP News

"Minute as Corona virus cases increase in 38 states Cos. Air, slowing their worker callbacks and increasing layoffs. Labor Department says 1.3 million people applied for unemployment last week, about 100,000 less than a week before Gus for she is with PNC Financial. If we saw the number of cases decline if we weren't worried about I see you capacity, I think that would help. But unfortunately that doesn't appear to be on the horizon. By yesterday, Mississippi was out of I C u beds and its five largest hospitals while a form or we're reporting units near capacity as they struggled to treat the growing number of covert 19. Actions. The Big 10 won't play nonconference games and football and some other sports is fall because of the Corona virus pandemic. The league also warns it is prepared not to play at all to keep athletes safe. The announcement policy Ivy League calling off all of its fall sports Mind to McGuire Corona Virus Update. I'm Tim Maguire with an AP News minute as Corona virus cases increase in 38 states Cos. Air, slowing their worker callbacks and increasing layoffs. The Labor Department says 1.3 million people applied for unemployment last week, about 100,000 less than a week before Gus for she is with PNC Financial. If we saw the number of cases decline if we weren't worried about I see you capacity, I think that would help. But unfortunately that doesn't appear to be on the horizon. By yesterday, Mississippi was out of I C u beds and its five largest hospitals while a form or we're reporting units near capacity as they struggled to treat the growing number of covert 19. Actions. The Big 10 won't play nonconference games and football and some other sports is fall because of the Corona virus pandemic. The league also warns it is prepared not to play at all to keep athletes safe. The announcement policy Ivy League calling off all of its fall sports I'm to Maguire. Happy.

Ivy League PNC Financial Tim Maguire Mississippi Labor Department Gus football AP
1.3 million workers seek US jobless aid as layoffs remain historically high amid spike in coronavirus cases

AP 24 Hour News

00:45 sec | 1 year ago

1.3 million workers seek US jobless aid as layoffs remain historically high amid spike in coronavirus cases

"1.3 million Americans applied for unemployment benefits last week The Surgeon Cove in 19 cases in some parts of the country has muddled the job market. In the beginning we had, you know, we had huge layoffs, and then we had a big decline in layoffs over subsequent weeks. Now we have still have a high level of layoffs. But it's pretty much the same from week to week. Gus Fouche, chief economist with PNC Financial Services Group. If we saw the number of cases decline if we weren't worried about I see you capacity, I think that would help. But unfortunately, that doesn't appear to be on the horizon. Some good news. Who's the total number of people who are receiving jobless benefits dropped by 700,000. That suggests that some companies are continuing to rehire workers. Shelly

Surgeon Cove Pnc Financial Services Group Chief Economist Gus Fouche Shelly
"pnc financial" Discussed on AP News

AP News

02:15 min | 1 year ago

"pnc financial" Discussed on AP News

"Rossi a reporting U. S. regulators are calling out and proven coronavirus antibody tests the food and drug administration is cracking down on sellers of antibody test for the corona virus that have not been reviewed and approved the FDA is listing more than two dozen test makers fail to file applications or are already off the market so far the FDA has reviewed and approved test from a dozen companies and applications for more than one hundred seventy five tests have been filed or are in the process of being filed an antibody test might show if you had covert nineteen in the recent past researchers are working to determine what antibody level would be needed for immunity against cove it nineteen Mike Rossio Washington hi Mike Rossi a reporting the FDA is cracking down on unvetted corona virus blood tests the food and drug administration has published a list of more than two dozen coronavirus antibody test makers that either didn't file applications to stay on the market or have already pulled their products in a statement the FDA said it expects the listed tests will not be marketed or distributed the FDA website shows more than one hundred seventy five tests for which applications have been filed or are in the process of being filed the FDA has already reviewed and authorized antibody test from a dozen companies antibody test might show if you had cold with nineteen in the recent past Mike Rossio Washington I'm Jackie Quinn the number of Americans applying for unemployment benefits in the last two months is the coronavirus too cold is over thirty eight million another two point four million sought benefits last week PNC financial's Gus poche says at least the rate of job loss is slowing initial claims for unemployment insurance continued to decline so the pace of layoffs is slowing but you know we still all seen more than twelve million layoffs over the past four weeks he says it's hard to predict when companies might start to bring workers back president trump says it's time for businesses to reopen any criticize governors who are being cautious I think they think it's good politics to keep it close what are they doing to hurting themselves I don't think it is good politics the president was visiting a Ford production plant outside Detroit did he wear a mask is the company requested I had one on before I went.

FDA Mike Rossi Mike Rossio Washington Jackie Quinn PNC financial Gus poche trump president Detroit
"pnc financial" Discussed on AP News

AP News

02:12 min | 1 year ago

"pnc financial" Discussed on AP News

"A reporting U. S. regulators are calling out and proven coronavirus antibody tests the food and drug administration is cracking down on sellers of antibody test for the corona virus that had not been reviewed and approved the FDA is listing more than two dozen test makers fail to file applications or are already off the market so far the FDA has reviewed and approved test from a dozen companies and applications for more than one hundred seventy five tests have been filed or are in the process of being filed an antibody test might show if you had covert nineteen in the recent past researchers are working to determine what antibody level would be needed for immunity against cove it nineteen Mike Rossio Washington hi Mike Rossi a reporting the FDA is cracking down on unvetted corona virus blood tests the food and drug administration has published a list of more than two dozen coronavirus antibody test makers that either didn't file applications to stay on the market or have already pulled their products in a statement the FDA said it expects the listed tests will not be marketed or distributed the FDA website shows more than one hundred seventy five tests for which applications have been filed or are in the process of being filed the FDA has already reviewed and authorized antibody test from a dozen companies antibody test might show if you had covert nineteen in the recent past Mike Rossio Washington hi Jackie Quinn the number of Americans applying for unemployment benefits in the last two months is the coronavirus too cold is over thirty eight million another two point four million sought benefits last week PNC financial's Gus poche says at least the rate of job loss is slowing initial claims for unemployment insurance continued to decline so the pace of layoffs is slowing but you know we still seen more than twelve million layoffs over the past four weeks he says it's hard to predict when companies might start to bring workers back president trump says it's time for businesses to reopen any criticize governors who are being cautious I think they think it's good politics to keep it close but what are they doing they're hurting themselves I don't think it is good politics the president was visiting a Ford production plant outside Detroit did he wear a mask is the company requested I had gone.

FDA Mike Rossi Jackie Quinn PNC financial Gus poche trump president Detroit Mike Rossio Washington
More Than 2.4 Million More Apply for Jobless Aid

AP 24 Hour News

00:36 sec | 1 year ago

More Than 2.4 Million More Apply for Jobless Aid

"Another two point four million people applied for unemployment last week pushing the wrong number of people out of work to nearly thirty nine million cisa coronavirus force millions of businesses to close their doors PNC financial chief economist Gus poche says even when the economy starts to recover businesses may be slow to rehire even if consumers are spending the level of spending is still much lower than it was in February and early March and so businesses may not see the need to require even if the economy is growing so I think the recovery in the labor market is likely to lag the recovery in consumer spending in the recovery in business investment

Gus Poche PNC Chief Economist
"pnc financial" Discussed on AP News

AP News

01:58 min | 1 year ago

"pnc financial" Discussed on AP News

"The pandemic PNC financial chief economist Gus voce the question of how long it is going to continue how long our business is going to undertake these enormous Laos and into old they start laying off workers and start re hiring we'll continue to see job losses and that's very bad news for the overall labor market the census bureau says nearly half of those questioned say either their incomes have declined or they live with another adult who is lost pay through a job loss or reduced hours the bureau adds that more than one fifth of those surveyed say they are not likely to pay the rent or mortgage on time next month some ten thousand people evacuated from massive flooding in central Michigan floodwaters caused by heavy rain caused to dance to fail bringing feet of water in the Midland and other areas around the city governor Gretchen Whitmer has asked president trump to declare a disaster area and she hopes she takes action when he's in the state today I'm hopeful that as he is coming to our state today I think it would be great if he signs that emergency declaration always here in Michigan today and that is my fervent hope trump will visit a Ford plant that shifted over to making ventilators at the start of the pandemic he was asked yesterday about what he would do differently if you could go back to the beginning of the outbreak I'm not saying if you take New York and New Jersey which were very hard hit we were very very low and in terms of morbidity and in terms of you look at the desk relatively speaking we're at the lowest level along with Germany existing home sales plunged last month the national association of realtors says the sales were off just under eighteen percent heading in afternoon trading the Dow is down thirty eight points this is a pain news there was a shooting overnight in a retail area near Phoenix it just reopened three people were shot one is in critical condition after Tiffany not allow with the Glendale police department says an arrest was made we were able to.

national association of realto Ford president Gus voce chief economist PNC Glendale police department Tiffany Phoenix Laos Dow Germany New Jersey New York Michigan Gretchen Whitmer Midland
33 million have sought US unemployment aid since virus hit

AP News Radio

00:55 sec | 1 year ago

33 million have sought US unemployment aid since virus hit

"More than thirty three million people have now applied for jobless benefits since the corona virus began largely shutting down America nearly three point two million filed for unemployment aid last week compare that to pre pandemic there now about sixteen times higher than what we saw and while they're still breathtakingly high PNC financial services gusto Shays says there is some good news they're down from around six million a few weeks ago and I've dropped for five straight weeks but the bad news will continue tomorrow with what's expected to be the worst monthly jobless report since modern record keeping started after World War two the unemployment rate is forecast to reach sixteen percent it hasn't been that high since the Great Depression and comes just two months after a fifty year low up three and a half percent Sager made Ghani Washington

America Sager Ghani Washington PNC Gusto Shays
33 million have sought US unemployment aid since virus hit

AP News Radio

00:55 sec | 1 year ago

33 million have sought US unemployment aid since virus hit

"More than thirty three million people have now applied for jobless benefits since the corona virus began largely shutting down America nearly three point two million filed for unemployment aid last week compare that to pre pandemic there now about sixteen times higher than what we saw and while they're still breathtakingly high PNC financial services gusto Shays says there is some good news they're down from around six million a few weeks ago and I've dropped for five straight weeks but the bad news will continue tomorrow with what's expected to be the worst monthly jobless report since modern record keeping started after World War two the unemployment rate is forecast to reach sixteen percent it hasn't been that high since the Great Depression and comes just two months after a fifty year low up three and a half percent Sager made Ghani Washington

America Sager Ghani Washington PNC Gusto Shays
Record 16.8 million have sought US jobless aid since virus

AP News Radio

00:41 sec | 1 year ago

Record 16.8 million have sought US jobless aid since virus

"In just three weeks roughly one in ten workers have lost their jobs with sixteen point eight million people filing for jobless benefits it's a staggering fall and PNC financial services gospel Shays says middle get worse this will be the worst month ever for job losses we're likely to see the unemployment rate a move above ten percent in the near term with the economy grinding to a near halt Morgan Stanley says non grocery retail business was down ninety seven percent in the last week of March compared to a year earlier airline passenger screenings are down ninety five percent and hotel revenue eighty percent Sager mag ani Washington

Morgan Stanley PNC Shays Ani Washington
Stocks sink, bonds soar on fears virus will stunt economy

AP News Radio

00:34 sec | 1 year ago

Stocks sink, bonds soar on fears virus will stunt economy

"Until there is some certainty about the corona virus it's going to be lots of ups and downs and can we get a better sense of just how big the underlying problem is Gus voce the chief economist with PNC financial services group how wide spread coronavirus is going to be how many people it's going to affect what's going to happen to supply chain what's going to happen to labor supply there's going to be a lot of volatility in the stock market and bond market and if you're investing for the long term stay the course I'm showing other

Gus Voce Chief Economist PNC
"pnc financial" Discussed on AP News

AP News

12:14 min | 1 year ago

"pnc financial" Discussed on AP News

"The labor department reports US employers added 220 5000 jobs that's a very solid number it's more than enough to keep up with growth in the labor force gusts poche chief economist at PNC financial services group says that spitting up wages up about 3 percent over the past year that's above the pace of inflation with a half 0 people screaming into the job market in January the jobless rate ticked up to 3.6 percent poche says that's not a signal of anything worrisome but there are some downside risks to growth including the corona virus outbreak in China and then also there's a potential for job losses related to Boeing's decision to stop production the 737 Max we did have a small job losses in manufacturing Ben Thomas Washington

labor department chief economist China Boeing PNC financial services Ben Thomas Washington 3.6 percent 3 percent
US economy adds a strong 225K jobs; unemployment up to 3.6%

AP News Radio

00:44 sec | 1 year ago

US economy adds a strong 225K jobs; unemployment up to 3.6%

"The labor department reports US employers added two hundred and twenty five thousand jobs that's a very solid number it's more than enough to keep up with growth in the labor force gusts poche chief economist at PNC financial services group says that spitting up wages up about three percent over the past year that's above the pace of inflation with a half million people screaming into the job market in January the jobless rate ticked up to three point six percent poche says that's not a signal of anything worrisome but there are some downside risks to growth including the corona virus outbreak in China and then also there's a potential for job losses related to Boeing's decision to stop production the seven thirty seven Max we did have a small job losses in manufacturing Ben Thomas Washington

Labor Department Chief Economist China Boeing Pnc Financial Services Ben Thomas Washington
US gains a robust 266,000 jobs; unemployment falls to 3.5%

AP News Radio

00:41 sec | 1 year ago

US gains a robust 266,000 jobs; unemployment falls to 3.5%

"The labor department says two hundred and sixty six thousand jobs were added in November as the unemployment rate fell to three and a half percent this is just a solid all around report gusto Shea who's the chief economist with PNC financial services group obviously we saw an increase in manufacturing employment with the into the auto workers' strike a but we also saw a job gains across a wide variety of industry so education and healthcare travel and tourism business and professional services transportation so consumers should be feeling pretty good we have more people working they have bigger paychecks consumers are in excellent shape this should be a good holiday shopping season I'm shelling out there

Labor Department Chief Economist Gusto Shea PNC Professional Services
Hiring Slowed in September as Unemployment Rate Fell to a 50-Year Low

Larry Elder

00:24 sec | 2 years ago

Hiring Slowed in September as Unemployment Rate Fell to a 50-Year Low

"In employment rate is it a five decade low PNC financial services group chief economist Gus poche says the one hundred thirty six thousand jobs added in September made for a decent report the unemployment rate fell to it to three and a half percent that slows the scene in in more than fifty years of a very good number there and we did see a little bit of a slowing in wage growth but generally a solid report and enough to keep the

Gus Poche PNC Chief Economist Fifty Years Five Decade
"pnc financial" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

09:42 min | 2 years ago

"pnc financial" Discussed on Bloomberg Radio New York

"We're up a half of one percent on the S and P five hundred positive fourteen points at about four AM eastern. The headline dropped on Chinese credit data and the equity market got a nice little left. Treasury yields lift HAMAs went off the back of that too. We're up five basis points almost on the ten year. Two point five four four percent on TV now up three bases points to two point three eight nine percent in the FX market following that story a reflection of the yen. We everything cast stronger against the dollar euro dollar a half of one percent and some outperformance from that growth. Proxy internationally, globally, the Donna positive by six tenths of one percent. But let's begin with key one season. It starts right here. On Wall Street and J P Morgan is up in the pre market by more than two percent. Want to catch up with Bloomberg's title Rix now to break down the headlines could morning cider. Hey, john. Yeah. We just had a lot of headlines coming in. And so far I would. I'd say so good so far which AP Morgan the first quarter net revenue adjusted revenue beating expectations at twenty nine point nine billion dollars and John Whitcomb. I as well was the Fiqh and the equities trading beat so first quarter fixed sales and trading revenue is also coming in with the beat at a three point seven billion dollars versus estimates of three point six seven and equities trading as well coming in above expectations just lightly at one point seven billion versus estimates of one point seven three billion and then investment banking revenue. Also coming in with the beat up about ten percent year-over-year investment banking getting a big boost from some debt underwriting, and what really caught my eye here. John is the difference and the beat in that thick and the equity trading because so far you and I have talked about repeatedly the big moves that we had in the Vicks and the move index which tracks the volatility on interest rates and interest rate and bond volatility has been much higher. So we had some pretty big expectations on the fifth trading. A not as many expectations on equity so important here that both came in with a beep so tightly the numbers little bit lights. We'll have the co you'll be on that we're gonna be talking about the results. A will. We be talking about the grilling on Capitol Hill. Yeah. That was very interesting. You know, I think that the grilling on Capitol Hill is behind us, John we heard from those seven CEOs this week and the key. Takeaway for me was that they came out relatively unscathed. All the CEO's said that, you know, slowing growth was perhaps maybe some of the biggest risks that the banks face. But none of it is the stomach that these banks are safer and stronger than they were ten years ago. And you saw the share price reaction on that day and the day after rising for all of those major banks is there's no new legislation facing these banks now than there was before the hearings. So all of the things today that we'll be hearing around forward guidance adultish fed how these banks can still continue to turn out record profit. I can't shove with USO. Tyler will be breaking down. The Bank story for us of the next couplet is Wall Street kicks off coupon. Want wanna continue this conversation bringing David George now pets senior research analyst, good morning, David you, I take place. Good morning. Well, it was a pretty good quarter. I think it was a strike was fairly broad based with with good results from kind of a general Bank as well as a much better than expected capital markets quarter. I think they they lowered the bar kinda mid-quarter and jumped over quite notably with the capital markets numbers this morning. So tell me about what we've seen relative to the base affects and relatives the story coming forward. What does that look like for the rest of this year? Oh, I think it's steady as she goes really for J P Morgan they continue to execute quite well and taking market share really in all of their businesses. And obviously, there's some macro issues that all the banks going to have to deal with most. Notably challenge rated firemen and a credit quality environment. That can't get a whole lot better. By the time. They continue to execute. Well, and not only performing well. But also returning a significant amount of capital shareholders in the form of significant five accident as well so steady steady outlook and outlook. David his the quote, jump Sansa may net. Interesting come was fourteen point six billion eight percent, predominantly driven by the impact of high rights. Those high rights won't be there for the what makes out for it. It's a good question. I think it's fair to assume that Jonathan that growth is going to slow from income perspective as a lot of demand likely normalizes or towards the mid single digits and higher rates will be probably probably less of a tailwind. But nonetheless that that kind of environment should still be interested still allow JP market grow at a reasonable rate going forward the reasonable right going forward in the last ten years JP Morgan Infosys without the lift this morning of two dollars and change fourteen point five percent per year is what they've done in this great post-crisis bull market. A lot of the numbers today are two hundred basis points to full percentage points above nominal GDP. What's the growth rate, you perceive or should be expected in the stock? Over the next ten years. I would expect I would expect it to perform while perhaps not as well as it has been last Sherm over the last ten years to keep in mind. We're coming off a once in a lifetime kind of a crisis. And now we're coming off an environment where things can't get a whole lot better. So we would expect a more subdued yet positive growth outlook over the next ten years. It's going to be one that is characterized by perhaps lower growth slower GDP, lower rates and countdown on on and off again credit iphone? I was thunderstruck out. Brian Moynihan of Bank of America testimony other day alluded to his predecessor in some of the challenges of misspent acquisitions twelve and thirteen and fourteen years ago is J P Morgan and the others are they advantaged because they're limited in what they can do their strategic vision. I don't know that they're limited. I think what it has done as it's made them or disciplined with respect to how they allocate capital in other words because they're not able to do aquisitions. They'd be cats become better at blocking and tackling running their banking businesses, respectively in order to be able to take share from peers, I think for for twenty years thirty years, many of these money center banks have focused on getting bigger rather than getting better. And I think the story at the last ten years is one where the big banks have gotten much much better from a competitive and an execution perspective just insensitive final question late cycle. That's what most people would call this. We've already discussed how much revenue growth they get from high rates. No one is expecting high rights anytime soon. I'm just wondering if the high revenue growth doesn't come from high rights, if it's hard to make the argument the volumes can I count for it. Have these Bank stoke stay well. I think they do well by continuing to execute on on a day-to-day basis. I don't think that at eight nine ten times earnings Jonathan I'm not of that the market is expecting or pricing in a significant amount of growth. I think that Bank investors probably need to recalibrate their expectations for growth opportunities that certainly going to be more subdued. But, but I think in some of your guests have said this pass one can make the argument that these companies are less risky from the credit perspective, and they certainly have much more capital today than they've had in the past which I think makes them less susceptible to economic shocks. And I think over time, particularly to the extent they truth, they're resilient. You could make the case that they get re rated a little higher from a multiple perspective compared to the equity market, probably David cash, David George joining us on the latest results as Jackie Malkin, kicks off coupon expense senior. Research analysts good morning to you, Mr. K joining us from Washington DC this morning what he walks up to good conversation. He says I can get around amazing of the new slows extraordinary, but amazingly wonderful conversation was smart smart people. And then John the news flow, including the this transaction, Chevron in Darko is Stewart Wallis mentioned much of this has been widely presumed someday this will happen in here. It is the morning where the premier explorer Anadarko taken out by Chevron, Mr. lawless, didn't mince words, John More of this to come. Did you watch any Gulf yesterday? No, I didn't want to single second of golf. I was International Monetary funding it and the journalists into goal on the radio we listened to golf as well for fifteen on Bloomberg radio. Excellent. I did see a little bit. I saw somebody sink. Wonderful putt. I could never sink in my life. Which would you be able to tell us who that was? Kane in Washington Jones Huck joining us as well. This'll be fun for the next couple of aspects show and so much to discuss ahead of the opening New York futures looking good looking nice up a half of one percent on the pay five hundred dollars from the FX market. Treasury yields are a little bit higher as well. And the data in China encouraging some people at least yields up five basis points on a ten year two point five full five percent. This is Bloomberg..

Bank John J P Morgan Bloomberg David Jonathan HAMAs David George John Whitcomb JP Morgan Infosys golf Washington New York Brian Moynihan Chevron
"pnc financial" Discussed on AP News

AP News

02:09 min | 2 years ago

"pnc financial" Discussed on AP News

"Issue Lynne Cheney is Republican conference chair. Her message to Democrats. They've gotta stop playing these games. They've gotta stop passing legislation that will not have any effect. We know it won't get taken up in the Senate and help us secure this border. So that we can get on with the work of the people here in the people's house employers dramatically stepped up hiring last month, adding three hundred twelve thousand jobs, economists gush foce at PNC financial expects a rocky road ahead anyway on Wall Street that we will continue to see near term volatility in stock prices. But I don't think that's indicative of problems in the broader US economy. Stocks have been higher as much as six hundred points higher for the. Dow today on Wall Street fed chairman Jerome Powell was asked if President Trump asked him to resign. What he do it? No. And the president has been critical of fed interest rate hikes, former interior secretary Ryan Zinke, exits Washington chased by ethics investigations, you told the AP he's lived up to the conservation. Ideals of teddy Roosevelt on the job and insist the myriad of allegations against him will be proven untrue. This is AP radio news. There are still no host for the Oscars next month. Kevin Hart may be back in the mix after it was revealed. He made some homophobic comments in an interview aired today on her talk show. Ellen Degeneres tells Kevin Hart you've grown you have apologize. You're apologizing again right now you've done it. Don't let those people win host the Oscars heart was named the host last month and backed away over complaints raised about an old comedy routine in which he describes how he's trying to ensure his son doesn't grow up gay. If it's a campaign to get heart back. It's a pretty slick launched generous is one of Hollywood's leading gay icons and a former Oscar host to boot leaving here. I'm promising I'm evaluating this conversation. Warren Levinson, New York. The Louisiana ACLU says the Lafayette public library has agreed to let men dressed as women re to children drag Queen storytime was organized after a religious groups sued the library because a university fraternity has scheduled a similar drag green drag Queen story, our Ed Donahue. AP radio news. Thank.

Kevin Hart AP teddy Roosevelt Oscars Lynne Cheney President Trump Lafayette public library Ryan Zinke Ed Donahue US Ellen Degeneres PNC financial Warren Levinson Senate Louisiana president New York Dow ACLU
US, Jane LeBow and Chief Economist discussed on Power Trading Radio

Power Trading Radio

01:18 min | 3 years ago

US, Jane LeBow and Chief Economist discussed on Power Trading Radio

"Concerns that hot, Wendy and dry weather conditions will persist throughout the weekend, California Department of forestry and fire protection. Spokeswoman Jane LeBow says a wildfire remained several miles from the communities along the eastern shore of clear lake. That's about one hundred ten miles north of San Francisco. When wildfires have already destroyed forty one homes there, it was a solid game, but US employer slowed. They're hiring in the month of July. Adding one hundred fifty, seven thousand jobs below the healthy pays that they maintain the first half of this year PNC financial services group cheap economist, chief economist. Gus foce economy has added a better than two hundred thousand jobs per month. On average over the past three months, we're also seen stronger wage growth. So businesses are paying their workers more at the job market gets tighter. So overall, the job market is really excellent condition. The Labor Department says the unemployment rate ticked down to three point, nine percent from four percent reaction from the White House to China's sixty billion dollars. List of US good, slated for retaliation if Washington goes. Ahead with its latest tariff threat the reaction comes from press secretary Sarah. Sanders who, says quote instead of retaliating China should. Address longstanding concerns about it's unfair trading practices chief economic adviser Larry, cudlow had.

United States Jane Lebow Chief Economist California Department Of Fores China PNC Wendy Gus Foce San Francisco Economic Adviser Press Secretary Labor Department Sanders Sarah White House Washington Larry Cudlow
Trump accuses China of currency manipulation

Marketplace All-in-One

02:32 min | 3 years ago

Trump accuses China of currency manipulation

"Let's move on to the second chapter. In this week's US China chronicles President Trump today accused Beijing of manipulating it's currency. This is not a new charge. But one thing that has happened is an eight percent fall in the Chinese currency against the dollar since the trade spat began in the spring. And that does happen to help Chinese exporters which means now we not only have talk of a trade war but of a currency war as well. Marketplace's. Scott Tong are former bureau chief and Shanghai reports. In contrast to President Trump, Chinese policy makers aren't always so overt about punching back, but an eight percent drop in the currency. The Yuan. Yeah, that seems at least partially on purpose says economist, Bill Adams, with PNC financial services. It was telling me that the Chinese Yuan was appreciating against the US dollar in the first quarter of twenty eighteen and the depreciation of the UN began after the US started. To enact tariffs on Chinese imports. Here's how depreciation helps Beijing. It's about to get hit with a second round of US, tariffs, ten percent taxes on two hundred billion dollars worth of Chinese soya sauce, vacuum cleaners, fridges all kinds of stuff. So prices will go up but a cheaper currency pulls prices back down effectively in offsets, Brad sets are international economics fellow at the council on foreign relations. I think a week or currency is probably the easiest way for China to limit the trade impact of US tariffs. But there are risks China's weak. Currency already has President Trump threatening a broader trade war. Further, depreciation almost certainly would have been expected to have produced a political reaction in the US and a week Yuan also called the renminbi spooks investors in China says a communist Derrick scissors at the American Enterprise Institute. So the number one concern for the Chinese is they have to go slow and not alarmed people. Remember because otherwise they'll sell, they'll sell, you know, assets and the Chinese stock market. They'll sell Chinese bond holdings, etc. And they'll take the money out of the country. It's a trade off, perhaps a realistic trade in a trade war. I'm Scott Tong for marketplace. Please indulge me for just a minute. We have just launched something I'm pretty excited about for all you. Alexa users. It helps you get smart about the economy, pop culture, tech and everything that's going on. I will try not to set off your acco, but all you have to do say Alexa, make me smart, and you'll get a new explainer. Every weekday from.

United States President Trump China Scott Tong Beijing Alexa Bill Adams PNC UN Brad American Enterprise Institute Renminbi Eight Percent Two Hundred Billion Dollars Ten Percent
US, President Trump and China discussed on Marketplace All-in-One

Marketplace All-in-One

02:32 min | 3 years ago

US, President Trump and China discussed on Marketplace All-in-One

"Let's move on to the second chapter. In this week's US China chronicles President Trump today accused Beijing of manipulating it's currency. This is not a new charge. But one thing that has happened is an eight percent fall in the Chinese currency against the dollar since the trade spat began in the spring. And that does happen to help Chinese exporters which means now we not only have talk of a trade war but of a currency war as well. Marketplace's. Scott Tong are former bureau chief and Shanghai reports. In contrast to President Trump, Chinese policy makers aren't always so overt about punching back, but an eight percent drop in the currency. The Yuan. Yeah, that seems at least partially on purpose says economist, Bill Adams, with PNC financial services. It was telling me that the Chinese Yuan was appreciating against the US dollar in the first quarter of twenty eighteen and the depreciation of the UN began after the US started. To enact tariffs on Chinese imports. Here's how depreciation helps Beijing. It's about to get hit with a second round of US, tariffs, ten percent taxes on two hundred billion dollars worth of Chinese soya sauce, vacuum cleaners, fridges all kinds of stuff. So prices will go up but a cheaper currency pulls prices back down effectively in offsets, Brad sets are international economics fellow at the council on foreign relations. I think a week or currency is probably the easiest way for China to limit the trade impact of US tariffs. But there are risks China's weak. Currency already has President Trump threatening a broader trade war. Further, depreciation almost certainly would have been expected to have produced a political reaction in the US and a week Yuan also called the renminbi spooks investors in China says a communist Derrick scissors at the American Enterprise Institute. So the number one concern for the Chinese is they have to go slow and not alarmed people. Remember because otherwise they'll sell, they'll sell, you know, assets and the Chinese stock market. They'll sell Chinese bond holdings, etc. And they'll take the money out of the country. It's a trade off, perhaps a realistic trade in a trade war. I'm Scott Tong for marketplace. Please indulge me for just a minute. We have just launched something I'm pretty excited about for all you. Alexa users. It helps you get smart about the economy, pop culture, tech and everything that's going on. I will try not to set off your acco, but all you have to do say Alexa, make me smart, and you'll get a new explainer. Every weekday from.

United States President Trump China Scott Tong Beijing Alexa Bill Adams PNC UN Brad American Enterprise Institute Renminbi Eight Percent Two Hundred Billion Dollars Ten Percent
"pnc financial" Discussed on Marketplace All-in-One

Marketplace All-in-One

01:32 min | 3 years ago

"pnc financial" Discussed on Marketplace All-in-One

"Those goods economist alan dead meister of ubs he says prices are up for food cars gas there in the basket of goods track by the cpi but the fed uses a different yardstick to measure inflation that core pc e rate prices on the goods it tracks are less volatile the core pc just hit two percent so says lindsay piazza chief economist at st full fixed income the fed they can be patient there is no concern at least at this point that the inflation dragon is lurking around the corner but there could be new tariffs on two hundred billion dollars worth of products from china around the corner including consumer goods like dog food and beauty products if the trump administration makes good on its threats economist gusts boucher of pnc financial services group says the proposed tariffs could cause a one time jump in prices not a big deal but if we do seem more for tat retaliation than that could lead to a stronger inflation over the longer run and that would be something the federal is concerned about and something that could cause the fed to rethink its planned for gradual gentle interest rate increases in washington i'm nancy marshall genzer for marketplace also given our conversation with jay pal today we've got an explainer of what the fed actually you know does all you've got to do is say to your alexa alexa make me smart and take a listen it'll play for you on wall street this thursday look traders are going to trade inflation and trade wars what ever we'll have the details when we do the numbers.

alan dead meister fed chief economist washington nancy marshall genzer jay pal lindsay piazza pnc financial services alexa two hundred billion dollars two percent
Judge to temporarily block Iowa's restrictive abortion law

Del Walmsley Radio Show

02:29 min | 3 years ago

Judge to temporarily block Iowa's restrictive abortion law

"Outdated policies of economic nationalism macron said we have to coordinate our response and work together eleanor beardsley npr news paris hearings are scheduled to begin in iowa at this hour on a challenge to one of the most restrictive abortion laws in the country from member station w v i k benjamin pain reports iowa's republican governor kim ronald signed the socalled fetal heartbeat bill last month the law bans most abortions as soon as doctors can detect a heartbeat in a fetus which occurs around the sixth week of pregnancy abortion rights advocates say that's too early for many women to even realize they're pregnant today lawyers from planned parenthood and the aclu of iowa or asking a state judge to temporarily blocked law from going into effect on july first these groups are also pursuing a permanent strike down law arguing it violates iowa's constitution some abortion opponents are actually welcoming the lawsuit they hope the case will eventually reach the us supreme court opening a window to overturn roe v wade others states have tried a similar strategy to get the nation's high court to reconsider roe v wade without success for npr news i'm benjamin pain two hundred twenty three thousand jobs were created last month the labor department says that pushes the unemployment rate down to three point eight percent and that's the lowest in eighteen years job creation was seen in nearly all industries including construction manufacturing travel and tourism and also in retail trade an area suffering in recent months because of online sales that's foce chief economist at pnc financial services group says wages also were higher they were up three tenths of a percent from april to may but more importantly they're up about two point seven percent from one year earlier and so that's very solid growth in it indicates that with the tight job market businesses need to raise pay to keep their current workers and attract new ones but pay growth is still below levels typically seen when the unemployment rate is this low wall street is higher at this hour the dow is up two hundred twenty two points the nasdaq up sixty five the s and p five hundred up twenty three you're listening to npr news from washington from k q e d news i'm brian watt in san francisco where mayor mark farrell has released the largest budget in the city's history eleven billion dollars peter jon shuler reports in outlining his proposal feral focused on what he called his four key priorities homelessness clean streets public.

Eleanor Beardsley Peter Jon Shuler Pnc Financial Services Foce Benjamin NPR ROE Kim Ronald Paris Iowa Mark Farrell San Francisco Brian Watt Washington Chief Economist Labor Department United States Eleven Billion Dollars Eighteen Years
"pnc financial" Discussed on Marketplace All-in-One

Marketplace All-in-One

01:43 min | 3 years ago

"pnc financial" Discussed on Marketplace All-in-One

"Your treading water you're not actually moving ahead so this recent wage news bodes well for workers but what about for employers and investors here's marketplace's marielle sagarra to explain today's labour numbers good news ripe for investors may be not so much that's because they see allotted downside to low unemployment a tight labour market means companies have to pay higher wages gus foce chief economist at pnc financial services group says those companies probably will raise prices to make up for their higher labour costs so inflation which is broadly prices throughout the economy inflation's gonna be bit stronger in response to rising inflation the federal reserve may aggressively hike interest rates and karen petru at federal financial analytics says higher interest rates can hurt stock prices by cutting into demand for shares rising rates create an incentive for investors to hold schaefer assets such as bonds because they're earning a better return and they no longer need to take all of the risk in the stock market higher interest rates also make it more expensive for companies to borrow money tim courtney is chief investment officer at exantia will wealth advisers that all things being equal is going to either cut into profits or it's going to cut into activities that that those companies might have borrowed to do lower investment means lower growth and lower stock prices and marielle sagarra for marketplace one more thing about that papon by the way and you got a file this really under correlation is not causal body but it is worth a note that eighteen states raised their minimum wages effective june or the first.

chief economist financial analytics tim courtney chief investment officer exantia gus foce pnc financial services karen petru