5 things to know before the stock market opens Friday, October 7

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Waiting for the jobs number After a gangbusters two days to start the week, stocks have declined … Read more

The Kremlin behaved ‘like a drug dealer’ over gas supplies, Polish PM says

The Kremlin behaved “like a drug dealer” when it comes to Europe’s gas supplies, according to Poland’s Prime Minister Mateusz Morawiecki. “Initially the gas [from Russia] was supposed to be very cheap, but the real price of the gas we now know. The real price of the gas is also the blood of soldiers and … Read more

New cars are finally back in stock, but they come at a steep price

Vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. mario tama | Getty Images DETROIT — New cars are slowly becoming more widely available, as supply chain bottlenecks finally start to ease. But now, an increasing number of Americans might not want them or be able to … Read more

The biggest threat today is recession, not inflation

The US Federal Reserve has been raising rates too quickly, and recession risks will be “extremely” high if it continues to do so, said Jeremy Siegel, professor emeritus of finance at the Wharton School of the University of Pennsylvania. “They should have started tightening much, much much earlier,” he told CNBC’s “Street Signs Asia” on … Read more

$570 million worth of Binance’s BNB token stolen in another major crypto hack

Binance is the world’s largest crypto exchange by trading volume. Jakub Porzycki | Nurphoto | Getty Images Cryptocurrency exchange Binance temporarily suspended its blockchain network late Thursday after hackers made off with around $570 million worth of its BNB token. Binance said a cross-chain bridge linking with its BNB Chain was targeted, enabling hackers to … Read more

Germany relief plan could trigger UK-style bond meltdown

German Chancellor Olaf Scholz last week announced a package worth 200 billion euros ($198 billion) designed to help with soaring energy prices. The “defensive shield” includes a gas price brake and a cut in sales tax for fuel. Steffi Loos | Pool | Reuters Amid downbeat predictions of a recession in Germany and the wider … Read more

Asia-Pacific markets fall ahead of U.S. jobs report

The logo of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), is displayed at the stock exchange in Tokyo, Japan, on Friday, Oct. 2, 2020. Akio Kon | Bloomberg via Getty Images Shares in the Asia-Pacific fell on Friday ahead of the monthly US jobs report, which is likely to guide … Read more

VPN use skyrockets in Iran as citizens navigate internet censorship

Iranians protest to demand justice and highlight the death of Mahsa Amini, who was arrested by morality police and subsequently died in hospital in Tehran under suspicious circumstances. Mike Kemp | In Pictures via Getty Images Iranians are turning to virtual private networks to bypass widespread internet disruptions as the government tries to conceal its … Read more

Credit Suisse to repurchase $3 billion of debt securities

Signage hangs over the entrance of a Credit Suisse Group AG branch in Zurich, Switzerland, on Sunday, Sept. 25, 2022. Inflation in Switzerland has more than doubled since the start of the year and the State Secretariat for Economic Affairs expects it to come in at a three-decade-high of 3% for 2022. Photographer: Pascal Mora/Bloomberg … Read more

Stock futures litte changed ahead of September’s jobs report

Stock futures were flat on Friday morning as investors looked ahead to September’s jobs report for further clues into the Federal Reserve’s tightening campaign. Futures tied to the Dow Jones Industrial Average shed 12 points, or 0.04%, while S&P 500 futures dipped 0.09%. Futures tied to the Nasdaq 100 slipped 0.07%. Advanced Micro Devices’ stock … Read more