Most CFOs think higher prices will last through 2022, survey shows

A majority of U.S. businesses are hiking prices at a rapid clip as they seek to offset the pain of soaring inflation and a lack of available workers, according to a survey of American CFOs published on Thursday.

The CFO Survey, a collaboration of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta, shows that finance chiefs are increasingly worried about labor availability, inflationary pressures and supply chain disruptions. 

FED TO TAPER BOND PURCHASES BY $15B A MONTH AS IT EXITS PANDEMIC-ERA POLICY

Nearly 90% of firms reported larger-than-normal costs increases — a sharp rise from just six months ago, when about 80% of businesses reported increasing the price of some goods. 

Fewer than 20% of firms expect cost increases to abate within the next six months, and

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Dow sinks 462 points as omicron US case rocks stocks

U.S. stocks got whipsawed on Wednesday after the CDC confirmed the first U.S. case of omicron in California. 

The Dow Jones Industrial Average fell over 462 points or 1.3% surrendering gains of over 300 points earlier. While the S&P 500 and the Nasdaq Composite sank 1.3% and 1.8%, respectively. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34022.04 -461.68 -1.34%
SP500 S&P 500 4513.04 -53.96 -1.18%
I:COMP NASDAQ COMPOSITE INDEX 15254.052094 -283.64 -1.83%

This as the VIX, the so-called fear index which measures volatility, spiked to the highest level since March. 

Ticker Security Last Change Change %
VXZ BARCLAYS BANK PLC TRK ZT 23/01/48 28.25 +0.52 +1.88%

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The Federal Reserve’s Beige Book, released at 2 pm ET, showed several regions reported supply chain issues and bottlenecks as possible

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Dow dives 650 points after Powell’s omicron, inflation warning

U.S. stocks finished in the red on Tuesday after Federal Reserve Chair Jerome Powell warned the omicron variant could result in a faster path to tapering. 

The Dow Jones Industrial average tumbled over 650 points, or 1.8%, while the S&P 500 and Nasdaq Composite slipped 1.9% and 1.5%, respectively. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34483.72 -652.22 -1.86%
SP500 S&P 500 4567 -88.27 -1.90%
I:COMP NASDAQ COMPOSITE INDEX 15537.690666 -245.14 -1.55%

Powell told members of Congress that the omicron variant could mean policymakers may need to speed up the pace of previously outlined tapering plans. He also noted the U.S. will get a clearer picture on the variant in about ten days. 

On inflation, he said removing

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Twitter co-founder Jack Dorsey: Hits & misses

Twitter co-founder Jack Dorsey stepped down as CEO from the social media platform on Monday, saying in an email announcing the move to employees that he was “really sad…yet really happy” about the decision.

News of his departure as chief – for a second time – sparked plenty of buzz and became the top trending subject on Twitter. Reactions were mixed, with many users sending Dorsey well-wishes and others declaring good riddance, speaking to the controversies surrounding the tech entrepreneur over the years.

MIAMI, FLORIDA – JUNE 04: Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square on stage at the Bitcoin 2021 Convention (Photo by Joe Raedle/Getty Images) (Photo by Joe Raedle/Getty Images / Getty Images)

As Dorsey moves on to his next chapter, here are

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Black Friday shop visitors enhances from 2020, however down 28% from pre-pandemic stages

Searching at brick-and-mortar retail retailers on Black Friday this 12 months improved in excess of 2020 but plummeted 28.3% compared to pre-pandemic degrees in 2019.

Preliminary facts from Sensormatic Alternatives also noted that though quite a few proceed to do their purchasing online, client site visitors also rose 47.5% in contrast to last year’s Black Friday, in accordance to CNBC.

Black Friday purchasers wait around in line to enter an electronics store that opened at 5 a.m. in the Dallas suburb in Frisco, Texas, Friday, Nov. 27, 2020. ((AP Image/LM Otero, File) / AP Newsroom)

“It is clear customers are buying previously this time, just as they did very last year,” stated Brian Area, senior director of world wide retail consulting at Sensormatic.

Field pinpointed COVID-19 and

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