Text size Investors are looking for evidence that Amazon.com has made progress in its efforts to contain costs. David Ryder/Bloomberg Amazon . com fell late in trading Thursday after the company reported mixed fourth-quarter results, with better-than-expected sales growth but weaker-than-expected earnings, largely due to a loss on the the company’s stake in electric truck … Read more
The Commission challenged Meta’s pairing of Facebook Marketplace with its personal social network. Budrul Chukrut | SOPA Pictures | Light flare | Getty Images Find out which companies are making headlines in the midday business. Meta – Shares of the tech giant jumped 25% midway through the trading day, on track for its strongest day … Read more
Here are Thursday’s most important calls on Wall Street: JMP downgrades Peloton to market performance from outperformance JMP downgraded the stock primarily on valuation. “We are downgrading our rating on Peloton shares from Market Outperform to Market Perform as Peloton hit our previous price target of $16 while we leave our estimates for fiscal 2024 … Read more
Christine Lagarde, President of the European Central Bank speaks at an event. Bloomberg | Bloomberg | Getty Images The European Central Bank on Thursday confirmed expectations of an interest rate hike of 50 basis points, taking its key rate to 2.5%. In a statement, he pledged to “stay the course by raising interest rates significantly … Read more
Signs of ‘sequential acceleration’ in Hong Kong despite economic contraction in 2022: UBP Hong Kong’s economy is “positioned to return to expansion” this year, UBP told CNBC’s “Squawk Box Asia” on Thursday. “We are seeing signs that there was a sequential acceleration in January. So that’s the good news,” said Carlos Casanova, UBP’s senior economist … Read more
S&P 500 futures advanced late Wednesday as investors looked past the latest interest rate hike and comments from the Federal Reserve. Broad index futures added 0.4%. Nasdaq 100 futures gained 1%, helped by Meta stocks. Dow Jones Industrial Average futures were down 9 points, almost flat. Meta jumped more than 19% in extended trading after … Read more
The OPEC logo is pictured at OPEC headquarters on October 4, 2022. Joe Clamar | AFP | Getty Images A technical committee of the influential coalition of oil producers OPEC+ made no recommendations to change the group’s existing production policy at its last meeting, according to three delegates. The OPEC+ Joint Ministerial Monitoring Committee, which … Read more
Text size Bitcoin rose to start the year, but there are reasons to believe the gains may be unsustainable. The time of dreams Bitcoin and other cryptocurrencies were paused on Wednesday as traders awaited a key interest rate decision from the Federal Reserve. After the best January for Bitcoin in a decade, bad news from … Read more
Bars of 99.99% pure gold are placed in a work room at the Krastsvetmet precious metals factory in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Alexander Manzyuk | Reuters Gold demand hit an 11-year high in 2022 thanks to “colossal central bank buying, aided by vigorous buying by retail investors,” according to the … Read more
Traders on the NYSE floor Source: NYSE Stock futures fell on Wednesday as investors anticipated Wednesday’s Federal Reserve meeting. Futures contracts linked to the Dow Jones Industrial Average lost 140 points or 0.4%. S&P 500 futures and Nasdaq Composite futures fell 0.4% and 0.3%, respectively. The Fed will announce at 2:00 p.m. (ET) how much … Read more