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Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs

A customer counts his cash at the register while purchasing an item at a Best Buy store in Flushing, New York. Jessica Rinaldi | Reuters Inflation held at stubbornly high levels in May, though the monthly increased was slightly less than expected, according to a Commerce Department gauge closely watched by the Federal Reserve. Core […]

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Business

Watch Fed Chair Powell talk live about the economy, interest rates at ECB forum

[The stream is slated to start at 9 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Wednesday to a European Central Bank forum on central banking. The Fed and its global counterparts have been in a race to tamp down […]

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Powell vows to prevent inflation from taking hold in the U.S. for the long run

U.S. Federal Reserve Board Chair Jerome Powell testifies before a House Financial Services Committee hearing in Washington, U.S., June 23, 2022.  Mary F. Calvert | Reuters Federal Reserve Chair Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term. “The risk is that because […]

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Treasury yields fall as traders track economic data, Fed remarks

U.S. Treasury yields were lower on Wednesday as investors continue to assess the economic outlook amid rising recession fears. At around 2:40 a.m. ET, the yield on the benchmark 10-year Treasury note was down at 3.1434% while the yield on the 30-year Treasury bond dropped to 3.2666%. Yields move inversely to prices. As the second […]

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Business

Stocks making the biggest moves in the premarket: Nike, Spirit Airlines, Occidental Petroleum and more

Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike fell 2.4% in premarket trading despite reporting better-than-expected quarterly profit and revenue. The athletic apparel and footwear maker forecast current-quarter revenue below analysts’ estimates amid increased promotional activity and ongoing disruptions in its profitable Chia market. Spirit Airlines (SAVE) […]

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Business

Stocks making the biggest moves midday: Coinbase, Spirit Airlines, Robinhood and more

Check out the companies making headlines in midday trading. Spirit Airlines — The budget airline’s shares fell more than 7% amid news that advisory firm Institutional Shareholder Services told Spirit shareholders to vote for the proposed merger with Frontier Airlines. It comes after Frontier Airlines upped the cash portion of its offer by $2 a […]

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Stock futures fall slightly following a major comeback week for stocks

Traders on the floor of the NYSE, June 15, 2022. Source: NYSE U.S. stock futures fell slightly on Sunday night following a major rebound last week from this year’s steep declines. Despite the bounce, Wall Street is preparing to wrap up the worst first half for stocks in decades. Dow Jones Industrial Average futures fell […]

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Business

We’re trimming a winner we still believe in to raise some cash and right-size our position

We do not want to be greedy like we were with our oil names. We do not want to make the same mistake twice. Source link

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Business

Stocks making the biggest moves premarket: CarMax, FedEx, Seagen and more

Check out the companies making headlines before the bell: CarMax (KMX) – The automobile retailer beat estimates by 7 cents with quarterly earnings of $1.56 per share, and revenue that also beat analyst forecasts amid what the company called a “challenging” used vehicle market. CarMax added 1.1% in the premarket. FedEx (FDX) – FedEx rallied […]

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Business

Stocks making the biggest moves premarket: Accenture, Darden Restaurants, FactSet and more

Check out the companies making headlines before the bell: Accenture (ACN) – The consulting firm’s shares fell 3.3% in the premarket after its quarterly revenue beat forecasts but earnings were impacted by the cost of its Russia exit. Accenture raised its full-year revenue forecast but cut the top end of its projected earnings range due […]