Powell says Fed is wary of ‘head fakes’ from inflation
Federal Reserve officials are “gratified” with the progress made so far on bringing down inflation, but are not yet confident that interest rates are high enough to bring inflation down to 2% target over time, Fed Chairman Jerome Powell said Thursday. “We know that ongoing progress toward our 2% goal is not assured: Inflation has […]
SAG-AFTRA strike impact on Hollywood will linger
SAG-AFTRA members and supporters chant outside Paramount Studios on day 118 of their strike against the Hollywood studios on November 8, 2023 in Los Angeles, California. Mario Tama | Getty Images Before the actors’ union reached a labor deal with studios Wednesday night, Disney CEO Bob Iger told CNBC’s Julia Boorstin that the strike’s impact […]
Hedge-fund manager talks flying taxis and stocks to own in a tough market
Can the S&P 500 squeak by with another winning session? Watch for comments from Fed Chairman Jerome Powell to come and another Treasury bond auction. We’re working toward that time of year when Wall Street wizards start rolling out equity forecasts for the year to come. Based on where the S&P 500 SPX stood on […]
Virgin Galactic (SPCE) Q3 earnings report
Carrier aircraft VMS Eve releases spacecraft VSS Unity before firing its rocket engine during the Unity 25 spaceflight on May 25, 2023. Virgin Galactic Virgin Galactic plans to pause spaceflight operations next year to focus resources on developing its next-generation Delta-class spacecraft, the company announced Wednesday. Although Virgin Galactic has been flying commercial missions at […]
Nvidia reportedly launching chips for China market
Nvidia is reportedly launching three microchips specifically for China, after getting blocked by the U.S. government from selling high-end chips there. The Star Market Daily said three chips from Nvidia for China will be announced as early as next week, according to a Reuters report. In October, Nvidia disclosed that seven of its microchips were […]
ESPN shows strength in Disney earnings
The worldwide leader in sports still has some juice. ESPN operating income surged 16% from a year ago to $987 million in Disney‘s fiscal fourth quarter — the first time Disney has ever broken out the sports division’s finances. Revenue in the segment grew 1% year-over-year to $3.8 billion. Disney also revealed ESPN+ was profitable […]
Haley, Christie open to raising Social Security retirement age
Social Security’s pending insolvency grabbed attention at the Republican presidential debate Wednesday night, with some candidates saying they would be willing to raise the full retirement age for young people just starting out. “We have to raise the retirement age,” said former New Jersey Gov. Chris Christie. “I have a son who’s in the audience […]
FDA approves Eli Lilly drug tirzepatide for weight loss
Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain. Cristina Arias | Cover | Getty Images The Food and Drug Administration on Wednesday approved Eli Lilly‘s blockbuster drug tirzepatide for weight loss, paving the way for even wider use of the treatment in the U.S. The active ingredient in the drug, tirzepatide, has […]
Mutual funds that buy U.S. stocks just had their best ‘hit rate’ in two years, BofA says
Managers of mutual funds focused on large-cap stocks in the U.S. did a stronger job of beating their benchmark last month, but they’re still struggling to do so year to date, according to BofA Global Research. Sixty-eight percent of large-cap active managers outperformed their Russell 1000 benchmark in October, BofA said in a research note […]
Polestar PSNY Q3 2023 earnings
A Polestar 4 electric SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) on April 18, 2023 in Shanghai, China. Vcg | Visual China Group | Getty Images Swedish electric vehicle maker Polestar on Wednesday cut its longstanding 2025 deliveries target and said that […]
