Tag Archives: Rise

Federal Reserve Chairman Jerome Powell on Friday said the central bank’s job on lowering inflation is not done, suggesting that the Fed will continue to aggressively raise interest rates to cool the economy. “We will keep at it until we are confident the job is done,” Powell said in remarks delivered at the Fed’s annual conference in Jackson Hole, Wyoming. “While the lower inflation readings for July are welcome, a single month’s improvement falls far short of what the Committee… Source link

U.S. stocks opened higher Monday as investors approached the final stretch of earnings season and braced for a busy week of inflation data. The S&P 500 climbed 0.5% after the benchmark index logged three straight weeks of gains despite modest losses on Friday. The Dow Jones Industrial Average added 180 points, or 0.6%, and the tech-heavy Nasdaq Composite advanced 0.3%. The moves come after stocks finished mixed in Friday’s session after a blowout employment report showed the U.S. economy added… Source link

Best Buy has become the latest big-name retailer to badly overestimate consumer demand as recession fears mount and shoppers pullback on discretionary purchases. The electronics retailer slashed both its second-quarter and full-year financial forecasts late Wednesday, sending shares lower by 4% in after-hours trading. Best Buy’s downward revisions are tough on the eye to say the very least: 2Q Same-Store Sales: -13% (previous: about -8%) 2Q Operating Margin: 3.7% (vs. 6.9% in second quarter of… Source link

(Bloomberg) — Microsoft Corp. gave an upbeat sales forecast for the fiscal year that just began, easing investor concerns about growth that had flared up following a lackluster fourth-quarter earnings report. Shares jumped more than 5% in late trading, reversing earlier declines. Most Read from Bloomberg On a conference call Tuesday, the software giant said it expects revenue and operating income to increase at a double-digit pace for fiscal 2023, which ends next June. Currency fluctuations… Source link

MOSCOW (Reuters) -Russian internet giant Yandex reported on Tuesday a jump in second-quarter revenue and profit, saying efforts to save cash had helped it weather external challenges and that investments may accelerate in the coming quarters. Like all Russian companies, Yandex has had to contend with the fallout from Moscow’s decision to send troops into Ukraine on Feb. 24, and although Yandex itself has not been targeted with Western sanctions, it has faced problems as… Source link

Yandex reports rise in revenue, profit, EBITDA Russian firm says making strong efforts to conserve cash Yandex’s Moscow-listed shares up 8% by 1345 GMT This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, July 26 (Reuters) – Russian internet giant Yandex (YNDX.O) reported on Tuesday a jump in second-quarter revenue and profit, saying efforts to save cash had helped it weather external challenges and that investments may accelerate… Source link

U.S. stocks finished uninspiring session mixed on Monday as investors kick off the busiest week of the year for corporate earnings and economic data. When the closing bell rang, the S&P 500 was up 0.1%, the Dow gained 0.3%, and the tech-heavy Nasdaq was the laggard, falling some 0.4%. Last week, all three major indexes logged weekly advances with the S&P 500’s advance since mid-June lows coming in at about 8%. The Nasdaq has gained over 10% during this period. In the coming days, quarterly… Source link

One trend this earning season in the semiconductor industry has sparked murmurs of gluts — at least in some parts of the industry. The results from companies like Micron (MU) to Taiwan Semiconductor (TSM) have led analysts to wonder if chip companies may be facing a so-called toilet paper moment in the coming months. Chip demand has slowed due to global economic downturn after a year when these companies did everything they could to ramp up production. However, a close observer of the… Source link

(Bloomberg) — Some of Asia’s biggest stock and bond markets outside China are seeing greater outflows than in previous market crises, and the process may just be getting underway. Most Read from Bloomberg Global funds offloaded a net $40 billion of equities across seven regional markets last quarter, exceeding any three-month period characterized by systemic stresses since 2007. The steepest selling was in tech-heavy Taiwan and South Korea and energy-importing India, while foreign investors… Source link

US stocks rose Friday morning, with the S&P 500 on track to end a three-week losing streak as investors digested the Federal Reserve officials’ latest affirmations that they remained committed to bringing down inflation. Contracts on the S&P 500 rose by about 0.8% in early trading, setting the index up for a back-to-back day of gains and its first weekly advance since late May. Dow futures rose by more than 200 points, or 0.7%, while Nasdaq futures increased by nearly 1% ahead of the opening… Source link