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Commerce Department presses Taiwan to supply more chips to U.S. automakers Via CNBC.com: The U.S. Commerce Department is pressing Taiwan Semiconductor Manufacturing Co and other Taiwanese firms to prioritize the needs of U.S. automakers to ease chip shortages in the near term, Commerce Secretary Gina Raimondo said on Tuesday. Raimondo told a Council of the Americas event that longer-term, increased investment was needed to produce more semiconductors in the United States and […]

Stocks end lower after report on Biden’s tax proposal Via AP News: A report that President Biden will propose a hefty tax increase on the gains wealthy individuals reap from investments triggered a stock market sell-off Thursday afternoon that left indexes broadly lower. Investors who earn $1 million or more would have to pay a 39.6% tax rate on any capital gains, nearly double the current rate for Americans in […]

Asian stock markets mixed after Wall St decline Via AP News: Asian stock markets were mixed Tuesday after Wall Street was pulled lower by tech stock declines. Tokyo and Hong Kong retreated while Shanghai and Seoul gained. Overnight, Wall Street’s benchmark S&P 500 index lost 0.5%. Banks, energy companies and others that depend on consumer spending also retreated. Investor optimism has been boosted by higher corporate profits, U.S. hiring and […]

Treasury yields rebound but still below recent highs Via CNBC.com: U.S. Treasury yields rebounded on Friday morning, with the 10-year rate having fallen to 1.53% in the previous session. The yield on the benchmark 10-year Treasury note rose to 1.585% at 4 a.m. ET. The yield on the 30-year Treasury bond climbed to 2.275%. Yields move inversely to prices. The 10-year Treasury yield recently topped 1.7%, while the 30-year government bond rate traded […]