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(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) * Amazon up as Jefferies sees easing costs * Alibaba climbs as Ant Group’s Jack Ma to cede control * Macy’s, Lululemon drop on holiday-quarter warnings * Indexes up: Dow 0.39%, S&P 0.85%, Nasdaq 1.52% (Adds details, updates prices throughout) By Ankika Biswas and Amruta Khandekar Jan 9 (Reuters) – The tech-heavy Nasdaq led gains among the main Wall Street indexes on Monday, boosted by shares of Amazon… Source link

Rep. Mike Rogers is preparing to step down from a powerful House Republican panel that decides committee assignments for conference members after a series of confrontations with conservatives who prolonged Kevin McCarthy’s speakership fight. Rogers (R-Ala.) confirmed the plan Monday morning, saying it would likely happen later this week — while underscoring that his departure from the GOP steering committee isn’t finalized and that he is not being encouraged by his colleagues to exit…. Source link

Rep. Mike Rogers announced Monday afternoon he plans to stay on a powerful House Republican panel that decides committee assignments for conference members, an abrupt switch after confirming that morning that he planned to step down. “I have been surprised that an overwhelming number of members, both rank & file and leadership, have urged me to stay on [the] Steering [Committee],” the Alabama Republican said in a statement. “Consequently, I plan to remain on Steering for the balance of this… Source link

Digital asset manager Osprey Funds has laid off 15 employees and is currently operating with fewer than 10 employees, including four members of its leadership team, a source familiar with the matter tells Yahoo Finance. “Osprey had layoffs last summer and fall aligned with the downturn in the crypto market, however Osprey remains strong,” Osprey Funds CEO Greg King told Yahoo Finance over email. Osprey’s Bitcoin Trust (OBTC), which is available at online brokers Fidelity, Charles Schwab, and… Source link

Retailers are giving their investors a delayed lump of coal. Several high-profile retailers are out with lackluster sales and profit updates ahead of their full results in late February/early March. Overall, the vibe in the reports are dim as consumers pullback on discretionary purchases and retailers battle through stubborn inflation and still bloated inventories. The corporate logo for Lululemon hangs on a wall at their store in Brookfield Place on August 26, 2022, in New York City. (Photo… Source link

Associated Press As Brazil reels from riots, Bolsonaro finds home in Florida As Brazil reels from mobs of rioters swarming its seats of power, its former leader has decamped to a Florida resort, where droves of supporters flocked to cheer on their ousted president. Devotees have traveled in recent days to the temporary home of Jair Bolsonaro, a gated community with towering waterslides, for a chance to see him. “I will always support him,” said 31-year-old Rafael Silva, who left Brazil… Source link

Retailers are giving their investors a delayed lump of coal. Several high-profile retailers are out with lackluster sales and profit updates ahead of their full results in late February/early March. Overall, the vibe in the reports are dim as consumers pullback on discretionary purchases and retailers battle through stubborn inflation and still bloated inventories. The corporate logo for Lululemon hangs on a wall at their store in Brookfield Place on August 26, 2022, in New York City. (Photo… Source link

U.S. equity futures crept higher early Monday as stocks attempted to sustain momentum from their first big rally of the year last week. Futures tied to the S&P 500 (^GSPC) rose 0.4%, while futures on the Dow Jones Industrial Average (^DJI) added 95 points, or 0.3%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) were up 0.4%. Shares of Bed Bath & Beyond (BBBY) gained 19% in pre-market trading — at one point ripping as much as 75% higher — after wiping out nearly half of their… Source link

Bed Bath & Beyond hasn’t filed for bankruptcy (yet), which looks to be keeping hopes alive among the few remaining bulls on the stock. Shares of the near-death retailer shot up as much as 75% in pre-market trading on Monday before giving back some of its gains to be up about 40% as of around 6:00 AM ET. The speculative move in the stock comes ahead of Bed Bath & Beyond’s highly-anticipated earnings on Tuesday. Chatter has been the company would declare bankruptcy prior to its earnings… Source link

A version of this article first appeared in the Yahoo Finance Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Macy’s (M) dumped some bad news on Friday evening. Management teams for public companies will sometimes think it’s clever trying to bury bad news into a weekend in hopes investors will forget it before the opening bell on Monday. The lame tactic rarely works. So let’s break down this textbook news dump Macy’s pulled on… Source link