Breaking News
Nike   Walgreens Boots   MillerKnoll   Raymond James   Micron Tech   AeroVironment   BlackBerry   FedEx   Carnival  
  • ALL
    • Breaking News
    Jul 12, 2024
    • JPMorgan Chase declined 1.1% to $205.09 after the New York-based bank reported stronger-than-expected revenue in the second quarter. 

      Revenue increased 22% to $50.2 billion from $41.3 billion, net income advanced 25% to $18.1 billion from $14.5 billion, and diluted earnings per share rose to $6.12 from $4.75 a year ago. 

      The bank took a higher-than-estimated credit loss provision of $3.05 billion, indicating that the bank is looking for higher losses stemming from its credit card business. 
      • Jul 11, 2024
      • Consumer price inflation eased for the third month in a row to 3.0% from 3.3% in May, the lowest since June 2023, the U.S. Bureau of Labor Statistics reported Thursday. 

        Core inflation, which excludes volatile food and energy prices, eased to an annual pace of 3.3% in June from 3.4% in May and extended its decline after peaking at 6.6% in September 2022. 
        • Costco Wholesale declined 3.5% to $853.66 after the warehouse membership club operator raised annual subscription fee in the U.S. and Canada by $5 and premium membership by $10. 
          • MicroStrategy jumped 7.2% to $1,400.36, and the largest corporate holder of bitcoin announced a 10-to-1 stock split on Thursday. 

            The company announced two classes of stock, Class A and Class B, to make its stock more accessible to investors and employees. 
            • PepsiCo decreased 0.6% to $162.16 after the snack and beverage company reported mixed quarterly results. 

              Revenue increased 0.8% to $22.5 billion from $22.3 billion, net income advanced to $3.1 billion from $2.8 billion, and diluted earnings per share rose to $2.23 from $1.99 a year ago. 
              • Delta Air Lines declined 5.8% to $44.11, and the international air carrier reported weaker-than-expected quarterly results. 

                The airline said net income in the second quarter dropped 30%, despite revenue reaching a record high. 

                The company also estimated a lower-than-expected increase in revenue in the current quarter and estimated earnings per share in the third quarter to range between $1.74 and $2.0. 
                • Jun 18, 2024
                • Retail sales in May rose by 0.1% from the previous month, following a downwardly revised fall of 0.2% in April, the U.S. Census Bureau reported Tuesday. 

                  The weak reading on retail sales offers another sign of cooling consumer spending amid elevated prices and a high cost of living. 

                  Sales at gasoline stations declined 2.2%, food services and drinking places fell 0.4%, and food and beverage stores fell 0.2%. 

                  Excluding gasoline, sales rose 0.3%.

                  Sales excluding food services, auto dealers, building materials stores, and gasoline stations, which are used in the calculation of gross domestic product, rose 0.4% following a drop of 0.5% in the previous month. 

                  On an annual basis, retail sales rose 2.3% in May, following a downwardly revised 2.7% increase in April. 

                   
                  • Jun 12, 2024
                  • The annual rate of consumer inflation unexpectedly cooled to 3.4% in May, the U.S. Bureau of Labor Statistics said on Wednesday. 

                    Consumer price inflation decreased for the second month in a row and fell from 3.5% in March to 3.4% in April. 

                    Food price inflation slowed to 2.1% from 2.2% in April, shelter inflation slowed to 5.4% from 5.5%, and transportation dropped 10.5% from 11.2%. 

                    The annual rate of core inflation slowed to 3.4% in May, the lowest rate since April 2021. 

                    On a monthly basis, consumer price inflation was unchanged from the previous month after rising 0.3% in April, and the monthly core rate of inflation slowed to 0.2% from 0.3% in the previous month. 

                     
                    • The Federal Reserve left the fed funds rate range unchanged between 5.25% and 5.50%, at the end of the two-day policy meeting.  

                      The policymakers committee dialed back on the rate expectations and estimated rates to drop to 5.1% by the end of the year, down from March's estimate of as many as three rate cuts. 

                      The committee also held 2024's GDP growth outlook at 2.1% and the unemployment rate at 4.0%. 

                      But the committee revised its PCE inflation estimate to 2.6% from 2.4% in March and core inflation, which excludes food and energy price inflation, to 2.8% from 2.6%. 

                      Fed officials estimated as many as four rate cuts in 2025, the fed funds rate to drop to 4.1% by the end of 2025, and additional cuts to bring down interest rates to 3.1% in 2026. 

                       
                      • Jun 7, 2024
                      • Nonfarm payrolls increased by 272,000 in May from the downwardly revised 165,000 in April, higher than the monthly average of 232,000 in the last 12 months. 

                        In May, employment continued to trend up in several industries, led by health care; government; leisure and hospitality; and professional, scientific, and technical services.

                        Average hourly wages increased 0.4%, or 14 cents, to $34.91 and edged up 4.1% over the last year, the U.S. Bureau of Labor Statistics reported Friday. 

                        Both the unemployment rate, at 4.0%, and the number of unemployed people, at 6.6 million, changed little in May; a year ago, the jobless rate was 3.7%, and the number of unemployed people was 6.1 million. 

                        The jobless rate increased despite the surge in employment in the last several months because the expanding labor market is attracting more people to look for jobs, increasing the jobless rate. 

                        Both the labor force participation rate, at 62.5%, and the employment-population ratio, at 60.1%, barely budged in May. 

                        These measures showed little change over the year.