The Federal Reserve’s extraordinary policy moves over the last 12 years have marched arm-in-arm with the biggest bull market in Wall Street history. But the central bank’s economists say the two really have little in common. As part of the ongoing discussion Fed officials are having about the effectiveness of past policy and the proper […]
Tag: business news
Rate cut expectations will fade as coronavirus fear eases
Markets expecting an interest rate cut are reacting to the coronavirus scare and likely will reverse once the fear starts to fade, St. Louis Fed President James Bullard said Friday. Central bank officials have indicated that they are content to keep policy on hold as they watch economic developments play out. However, traders in the […]
Coca-Cola expects coronavirus could hit first-quarter earnings by up to 2 cents
Coca-Cola said Friday that the COVID-19 outbreak could drag down its first-quarter earnings by as much as 2 cents. The global beverage giant is forecasting that the virus will hit its quarterly earnings by 1 cent to 2 cents, unit case volume by 2% to 3% and organic revenue by 1% to 2%. Despite the […]
Elizabeth Warren reverses her position on super PAC support
LAS VEGAS – Sen. Elizabeth Warren reversed her position on rejecting super PAC support on Thursday as she seeks a comeback in the Democratic presidential primary. Warren, who has previously said that she would disavow the support of a super PAC that sought to aid her bid for the presidency, told reporters that she had […]
Deere rises after tractor-maker reports better-than-expected earnings, says farming stabilizing
A Deere & Co. John Deere 9560 combine harvester unloads soft red winter (SRW) wheat during a harvest in the village of Kirkland in Dekalb, Illinois, July 9, 2018. Daniel Acker | Bloomberg | Getty Images Shares of Deere spiked Friday morning after the agriculture company topped estimates for its fiscal first quarter and said […]
Dow futures dip 60 points
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange. Drew Angerer | Getty Images This is a live blog. Check back for updates. 8:19 am: JPMorgan strategist calls for a market setback, says ‘short-term systematic sell signals’ triggered The U.S. stock market could be subjected […]
Huawei says US push to create a 5G rival ‘would be a challenge’
Chinese telecom giant Huawei announced on October 16, 2019 that it has passed the 400,000 5G antennas mark, the fifth generation of mobile phones, in the world with 56 operators who have already started to roll out the new mobile network. STEFAN WERMUTH | AFP | Getty Images Plans by the United States to create […]
Trump friend Roger Stone sentenced to prison for WikiLeaks lies
A federal judge sentenced President Donald Trump’s friend, longtime Republican operative Roger Stone, on Thursday to more than three years in prison for lying to Congress and tampering with a witness in an effort to protect Trump. “He was not prosecuted, as some have complained, for standing up for the president, he was prosecuted for […]
Sycamore Partners to acquire control of Victoria’s Secret
Victoria’s Secret, which once dominated the lingerie category with its sexy image, will go private in a deal that shows how far the brand as fallen out of favor. Private equity firm Sycamore Partners will acquire a 55% share in Victoria’s Secret from its owner L Brands for $525 million, the companies announced Thursday. Upon the […]
ViacomCBS, E-Trade, Zillow, IMAX & more
Take a look at some of the biggest movers in the premarket: ViacomCBS (VIAC) – In its first earnings report since the merger of Viacom and CBS was completed in December, the company reported quarterly earnings of 97 cents per share, below the consensus estimate of $1.44 a share. Revenue was also below Wall Street […]
