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Stock futures opened near the flat line Tuesday evening as investors looked ahead to more corporate earnings results and another batch of inflation data. Contracts on the S&P 500 was little changed. During Tuesday’s regular session, the blue-chip index rose to a record intraday high before pulling back and ending lower. Each of the Dow and Nasdaq also pulled back, with cyclical areas of the market like airline stocks and financials posting some of the biggest declines.  Concerns over the pace… Source link

By Julio-Cesar Chavez and Steve Gorman    (Reuters) – Virgin Galactic Holding Inc acknowledged on Tuesday that billionaire founder Richard Branson never rode a bicycle to the launch site of his space flight on Sunday, as depicted in a highly publicized video included in the company’s webcast of the event.    The video clip showed Branson riding his bike toward New Mexico’s state-owned Spaceport America near the town of Truth or Consequences, flanked by two SUVs, and handing his safety… Source link

Reuters Smithfield Foods stops slaughtering pigs at U.S. hometown plant CHICAGO (Reuters) -Smithfield Foods, the world’s largest pork processor, has stopped slaughtering pigs in the United States’ so-called ham capital, where the company was founded 85 years ago. The end of slaughtering in Smithfield, Virginia, is the latest reconfiguration for the company’s namesake plant and follows a months-long internal review of its East Coast operations, Smithfield Foods said in a statement. The… Source link

Tuesday’s CPI inflation numbers made a splash. The index surged 5.4% over the last year, surpassing expectations of 4.9%. Core inflation (which excludes the volatile gas and food categories) was up 4.5% year-over-year. Both were up 0.9% over last month, the biggest jump since 2008. Here’s what analysts had to say about the report, and what it means going forward. Good news and bad news A big question surrounding inflation recently is whether it’s transitory or more likely to become more… Source link

Popeyes (QSR) is adding chicken nuggets to its menu, using the same recipe as the hotly-coveted chicken sandwich that’s been a runaway hit for the restaurant chain. The addition of the white meat chicken nuggets, with options ranging from 4 piece to 36 pieces, are set to hit menus beginning July 27 in the U.S., Canada and Puerto Rico.  The fast food giant is hopeful this launch will match the reception that greeted its fried chicken sandwich back in August of 2019.  That menu item sparked the… Source link

Amid the growing geopolitical threat of ransomware, crypto has become a stalking horse. Following a slew of high-profile exploits, there have been calls to ban or surveil blockchain networks, with the thinking that bitcoin catalyzes cybercrime.  The risks of ransomware are real: Any organization that relies on computers may be vulnerable to digital extortion. The threat isn’t always clear: Malware can be developed or deployed by individuals, state-backed groups or hacking collectives. And… Source link

The Federal Reserve managed to avoid turning to negative interest rates through the pandemic-induced recession of 2020. But if the economy faces another downturn, will the central bank be backed into short-term borrowing rates below zero? In a UBS survey of almost 30 central banks around the world, 21% of respondents said they could see the Fed turning to negative interest rates if needed. The concern: With U.S. short-term rates yet again backed up at near-zero, a Fed that may be slower to… Source link

The surge of Americans traveling on COVID-19 delayed getaways is driving up revenue at Delta Vacations.  “If you look at what we see just as recently as June, our booking revenue is up 20%, relative to 2019,” CEO Dwight James told Yahoo Finance Live. Delta Vacations is a privately owned subsidiary of Delta Air Lines (DAL), which reports second quarter earnings Wednesday. Delta Vacations does not report revenue or earnings, but its parent company Delta groups it with other subsidiaries in its… Source link

Calling all taco connoisseurs —McCormick & Company (MKC) is hiring a “director of taco relations” for a short-term stint, and it comes with a pretty hefty paycheck. On this taco Tuesday, the food company known for its spices officially announced the new, four-month contract position, which pays $100,000 (or $25,000 per month). Applicants must be 21 years of age, a U.S. resident, be available to sign a contract by the end of August and work up to 20 hours a week from September 2021 to… Source link

For the retail investor, making sense of the markets and finding the right investment is naturally the key to long-term profits. For many such investors, the strategy of choice is following the insiders. While ‘insiders’ may have a bad sound, suggesting below-board dealing to score dishonest wins, it really means something much simpler, and fundamentally honest. Insiders are corporate officers, in positions of trust with their companies, and their offices give them access to information… Source link