The bond market just demonstrated how fast tighter financial conditions can come unraveled
“‘ With financial conditions, we’re looking for persistent changes that are material … Longer-term rates that have moved up, they can’t simply be a reflection of expected policy moves from us.’ ” — Jerome Powell at Nov. 1 press conference Federal Reserve Chairman Jerome Powell said last week that a sharp, recent increase in bond […]
LVMH buys eyewear brand Barton Perreira
Barton Perreira sunglasses are displayed during ‘A Good Time At Goodman’s’ held at Goodman’s Men’s Store in New York City. Astrid Stawiarz | Getty Images LVMH is buying luxury eyewear brand Barton Perreira, famed for making James Bond’s shades, as it taps into the fast-growing designer sunglass market. LVMH’s Thelios eyewear division agreed to acquire […]
Bed Bath & Beyond CEO quits amid Overstock transition
Overstock.com CEO Jonathan Johnson, June 29, 2023. Scott Mlyn | CNBC The new Bed Bath & Beyond announced Monday its CEO Jonathan Johnson is immediately stepping down from his position in a sudden and surprising move. Johnson had been Overstock’s chief executive since 2019. He led the company through its acquisition of Bed Bath & […]
The S&P 500 can underperform its long-term average for a long time
“You will lag the long-term average if your investment horizon misses the market’s few stellar years.” Financial planners are on shaky ground when extrapolating the past into the future. Yet extrapolation underlies almost everything planners advise their clients to do. Stocks’ have beaten inflation by 6% annualized over the long term? Then build clients’ retirement […]
Moderna (MRNA) Q3 earnings report 2023: Covid vaccine losses
Moderna on Thursday posted a steep loss for the third quarter as it recorded a large write-down due to unused doses of its Covid vaccine, its only marketable product, and unveiled plans to scale back production of the shot. Shares of Moderna closed 6% lower on Thursday. Moderna’s total revenue for the period topped Wall […]
Japan unlikely to fall back to zero inflation, BOJ governor says
NAGOYA, Japan — Bank of Japan Gov. Kazuo Ueda said Monday that Japan was unlikely to fall back to deflation even after pressure from higher import prices eases. “The inflation rate will not return to the range of 0% and 1%, which was the prepandemic level,” because the virtuous cycle between wages and prices is […]
Starbucks (SBUX) earnings Q4 2023
Customers are seen at the American multinational chain Starbucks Coffee store in Hong Kong. Budrul Chukrut | Lightrocket | Getty Images Starbucks on Thursday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by strong U.S. demand for pricier drinks. Shares of the company closed up 9.5% on Thursday. Here’s what Starbucks reported for […]
Many insured U.S. patients pay less than $25 a month
Wegovy, an injectable prescription weight loss medicine that has helped people with obesity. Michael Siluk | UCG | Getty Images Novo Nordisk on Thursday said 80% of U.S. patients with insurance coverage who take its highly popular weight loss treatment Wegovy are paying less than $25 a month for the drug. The remarks suggest that […]
New poll shows Trump leading Biden in 5 key battleground states
A new poll released Sunday found President Joe Biden trails Donald Trump in five key battleground states, raising new questions about Biden’s ability to hold onto the White House in 2024. The poll, conducted by the New York Times and Sienna College, showed Trump leading Biden by anywhere from three to 10 percentage points in […]
National Association of Realtors CEO quits after lawsuit loss
A “For Sale” sign outside a house in Edmonton, Alberta, in Canada on Oct. 22, 2023. Nurphoto | Nurphoto | Getty Images The National Association of Realtors announced Thursday that CEO Bob Goldberg will resign earlier than expected, as the group contends with the fallout from a federal lawsuit and a harassment scandal. The leadership […]
