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Fed set to resume rate hikes after June pause
The Federal Reserve is expected to raise rates by 0.25% on Wednesday, resuming its aggressive rate hiking campaign in an effort to bring inflation back to its 2% target.
The stock market
- Thread starter movetheboat
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longcast
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Stock futures gain with key PCE inflation data ahead: Stock market news today
Stocks were setting up for a rebound on Friday, as investors prepared for the release of the Federal Reserve's favorite inflation measure and after a surprise Bank of Japan rate shift rattled markets.
longcast
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IPO market poised to thaw as stocks heat up
The IPO market is poised to come back to life as investor demand heats up and Wall Street sheds recession fears.
longcast
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What historically happens after stocks soar through July: Morning Brief
A look at past years shows that hot starts like 2023 usually end well for investors.
longcast
Well-Known Angler
Here's what the Fed's likely going to do the rest of the year, according to investors
The central bank on Wednesday lifted interest rates to their highest level in 22 years, and markets expect it to stay there for months.
wader
Well-Known Angler
Wall Street Pessimists Are Getting Used to Being Wrong
Beaten as they might be by the stock market’s rally, worriers on Wall Street still question how long it can last. Their numbers are shrinking, though. After starting the year with dour warnings about the economy, many investors and analysts have changed their minds. This newfound bullishness is...
Nice rally went on today.
She closed up $7 a share (4.07%) after being beaten down this past year. Was up $8+ at one point.
longcast
Well-Known Angler
Stocks drift amid mixed earnings after blazing July: Stock market news today
Stocks had a lazy start to August, pulling back from a July rally amid a flurry of mixed earnings.
longcast
Well-Known Angler
Investors are entering August in a bullish mood: Morning Brief
There's some clear signs that investors are once again ready to engage in some riskier trading — another bullish sign for the market.
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Dow gains, Caterpillar sales, Uber earnings: 3 Things
U.S. markets saw noticeable gains in the month of July when the S&P hit a 16-month high and the Dow Jones maintained a 13-day winning streak. Construction equipment manufacturer Caterpillar warns on Q3 declines in sales and margins. Lastly, Uber posted mixed earnings results, keeping an upbeat...
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US Futures Slide as Fitch Downgrade Rattles Stocks: Markets Wrap
(Bloomberg) -- Global equities dropped as Fitch Ratings’ downgrade of US government debt spurred a rapid retreat from riskier assets and anxiety over this year’s spectacular rally in tech stocks.Most Read from BloombergFitch’s US Credit Downgrade Sparks Criticism Along With UneaseMissing Goldman...
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Caterpillar joins the Fed in pushing back recession fears
Caterpillar's latest results sent shares up more than 8%, serving as the latest sign recession fears may be misplaced as we enter the final months of 2023.
longcast
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Stocks slip, yields pop as sell-off continues: Stock market news today
Stocks slipped lower Thursday as a downgrade-spurred sell-off extended across the indexes and earnings season continued in full force.
longcast
Well-Known Angler
: Morning Brief
There's a lot of things that are different from the last time the US got downgraded.
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Warren Buffett Is Buying Treasuries Regardless of US Downgrade by Fitch
(Bloomberg) -- It’s business-as-usual for Warren Buffett’s Berkshire Hathaway after Fitch Ratings’ downgrade of the US.Most Read from BloombergFitch’s US Credit Downgrade Sparks Criticism Along With UneaseTreasury Rout Unnerves Traders as Stocks Retreat: Markets WrapCanada PM Justin Trudeau...
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Stocks eye rebound from rough start to August: Stock market news today
Stocks were setting up to recover from a recent bumpy patch early Monday, as earnings season starts to wind down and investors brace for an inflation reading crucial to Federal Reserve decision making.
longcast
Well-Known Angler
Tyson Foods sales hit by slowing demand, to shut four more US chicken plants
(Reuters) -Tyson Foods missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products. Tyson has already cut corporate jobs and shuttered other chicken plants this year as it struggles with...
(Reuters) -Tyson Foods missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products.
The company said it is closing four more U.S. chicken plants in the latest bid to reduce costs. Shares were down nearly 6% premarket.
Tyson has already cut corporate jobs and shuttered other chicken plants this year as it struggles with declining profits and reduced demand from consumers squeezed by inflation and higher interest rates.
The company hiked prices last year to offset spiraling feed and labor costs, but has been hit in 2023 by lower prices in core protein segments, such as pork. The company has also struggled to predict sales and previously said reduced demand for beef made it difficult to pass on higher costs to consumers.
"Chicken, beef and pork all face different types of macro and market challenges," Chief Financial Officer John R. Tyson said in an interview. "That's persisted for a little while."
Net quarterly sales fell 3% to $13.14 billion, below analysts' expectations of $13.59 billion, according to Refinitiv data. The company's average sales prices fell 16.4% for pork and 5.5% for chicken, while rising 5.2% for beef.
"Domestic consumers continue to look for lower-cost protein alternatives, trading down from higher-cost proteins like pork or reducing overall protein consumption," agricultural lender Rabobank said in July.
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Target hit with shareholder lawsuit after Pride backlash damaged stock price
America First Legal has filed a shareholder lawsuit against Target in response to the retailer’s Pride merchandise that resulted in backlash, boycotts and a drop in stock price.
www.foxnews.com
America First Legal (AFL) filed a shareholder lawsuit against Target on Tuesday in response to the retailer’s Pride merchandise that resulted in significant backlash, boycotts, and a drop in stock price.
Target locations across the country famously stunned customers in May when massive June Pride month displays were unveiled featuring everything from female-style swimsuits that can be used to "tuck" male genitalia to mugs that said "gender fluid." The polarizing Pride merchandise also includes onesies and rompers for newborn babies, a variety of adult clothing with slogans such as "Super Queer," party supplies, home decor, multiple books and a "Grow At Your Own Pace" saucer planter.
Many customers were outraged, and boycotts caused a variety of banks to downgrade Target's stock. Target’s market value was over $74 billion before the Pride displays made national news, as tracked by Dow Jones Market Data Group. As of Wednesday, Target is valued at $60.3 billion.
"However, management only cared whether its leftist ‘stakeholders’ were satisfied, disregarding the possibility that its customers and shareholders might feel differently. Thus, in May 2023, Target embraced the radical transgender agenda with its children-and-family-themed ‘Pride’ marketing and sales campaign – the corporation’s infamous ‘Pride’ collection included clothing for young children… this predictably caused more than a $12 billion collapse in share value, the largest stock price decline in over 20 years," the group wrote when announcing the suit.
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Stocks sink for second day, Nasdaq leads way down: Stock market news today
Stocks were down, failing to shake off losses driven by banking-sector worries as attention shifted to a key US inflation report.
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The stock market's biggest risk is the Fed looking backwards: Morning Brief
The market is shrugging off almost everything. But the Fed's current data dependency — which seems like a feature — may actually be a risky bug.
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Well-Known Angler
How WeWork is nearing failure after a valuation of $47 billion in 2019
Following WeWork's warning that it could be headed for bankruptcy, FOX Business gives a timeline of the long-suffering co-working company's years of troubles.
www.foxbusiness.com
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