The company blamed its Q2 content slate and price increases for the subscriber miss.Technologyread more
Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt. And growth is entirely dependent on Netflix's...Technologyread more
Prosecutors in Masschusetts have dropped a criminal case against actor Kevin Spacey, who had been accused of groping an 18-year-old man.Entertainmentread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
Trade negotiations between the world's two largest economies are stuck at a standstill, the Wall Street Journal reported Wednesday.Marketsread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Strong consumer spending is giving a boost to fourth-quarter GDP growth, pushing it up to 3 percent, according to a survey of economists.
Economists, participating in the CNBC/Moody's Analytics GDP rapid update raised their forecast by 0.2 percentage points following the stronger-than-expected November retail sales report. Excluding automobiles, gasoline, building materials and food, retail sales gained 0.9 percent in November, on top of a revised 0.7 percent increase in October.
Third quarter GDP growth was 3.5 percent, but economists have been looking for a slowdown in the fourth quarter continuing into next year.
For 2019, the survey shows economists expect a growth pace of 2.4 percent.
The economists in the rapid update survey see fourth quarter growth between 2.7 percent and 3.1 percent. Tracking forecasts for GDP take into account incoming data and are updated frequently.
Barclays economists upped their tracking forecast Friday to 2.9 percent from 2.5 percent, mostly due to retail sales.
"The acceleration in sales could be partly attributed to Black Friday and other holiday-season related shopping events during this time of the year. There were also substantial upward revisions to October's data, both at the headline and core level. Taken together, this morning's report points to stronger momentum in retail sales than what we had expected, and bodes well for Q4 consumption spending," they wrote.
Consumption added 0.5 percent to GDP, but the Barclays economists raised growth by just 0.4 percentage points because the strong pickup in sales suggests a fall in inventories. Barclays also trimmed 0.1 percentage points due to lowered retail inventories.