: Kohl’s sales slowed in late October — just like Target’s and Macy’s
Kohl's, Target and Macy's all saw sales growth slow late in October and into November, making what one analyst called a 'consumer discretionary recession' likely.
Kohl's, Target and Macy's all saw sales growth slow late in October and into November, making what one analyst called a 'consumer discretionary recession' likely.
Shares of General Motors Co. reversed course in midday trading Thursday, rising 0.7% as the auto maker's investor day got underway and Chief Executive Mary Barra reaffirmed GM's goal of producing 2 million electric vehicles in 2025. "Today our focus in on the Ultium platform and accelerating our EV future," Barra said, referring to GM's battery architecture. Barra opened the event saying that GM's upcoming EVs, including electric SUV Chevy Equinox and electric pickup truck Sierra launching next... Читать дальше...
The spread between 2- and 10-year Treasury yields inverted more deeply on Thursday, shrinking to as little as minus 70.5 basis points, after a Federal Reserve policy maker released estimates of how high he thinks interest rates might need to go. After St. Louis Fed President James Bullard put the range at between 5% to 7%, the 2s10s spread went further below zero and remains on track for its deepest inversion in more than 40 years. The last time the spread has fallen this far below zero was in February 1982... Читать дальше...
House Speaker Nancy Pelosi will step down from Democratic leadership
Dutch court rules that Russia-led group downed Flight MH17 in 2014
Coronavirus Update: Case rises in Japan, South Korea, U.S. reverse global trend
No fireworks over U.K. budget — except among electrical utilities
The global tally of COVID-19 cases rose 2% in the week through Nov. 13 from the previous week, according to the World Health Organization, a reversal of the trend of declining case that had been in place for weeks.
Shares of Norwegian Cruise Line Holdings Ltd. slumped 7.8% in morning trading Thursday, to make them the S&P 500's biggest losers on the day, after Credit Suisse swung to bearish from bullish on the cruise operator, citing valuation concerns relative to its peers. Analyst Benjamin Chaiken doubled downgraded the stock to underperform from outperform, and slashed his stock price target to $14 from $20, with the new target implying TK% downside from current levels. "We think [Norwegian] is a quality company... Читать дальше...
To avoid sending her paychecks toward her student debt forever, Siu-yee cut her spending, grew her income and moved back in with her parents
Construction on new houses fell 4.2% in October as high mortgage rates deterred buyers and forced builders to scale back, a situation that's likely to continue through 2023.
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 64 billion cubic feet for the week ended Nov. 11. That compared with an average analyst forecast for an increase of 62 billion cubic feet, according to a survey conducted by S&P Global Commodity Insights. Total working gas stocks in storage stand at 3.644 trillion cubic feet, up 4 billion cubic feet from a year ago, but 7 billion cubic feet below the five-year average, the government said. Читать дальше...
Shares of Salesforce Inc. sank 3.3% in morning trading, enough to pace the Dow Jones Industrial Average's losers, after Monness Crespi Hardt analyst Jim Chartier said he was "stepping to the sidelines" amid concerns the worst is yet to come. Chartier cut is rating to neutral from buy, following the "generous" rally over the past week. "Given our concerns regarding the severity of this downturn, we believe Salesforce will face more challenging times over the next 12-18 months," Chartier wrote in a note to clients. Читать дальше...
Oil futures are on track Thursday to tally back-to-back declines as China's zero-COVID policy continues to dull the outlook for crude demand
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Activision Blizzard Inc. says it will find new ways to serve gamers in China impacted by the end of its licensing deal with NetEase Inc. . The video game giant's licensing agreements with the Chinese internet technology company date back to 2008, but expire on Jan. 23, 2023. In a press release late Wednesday, NetEase said the two companies could not reach an agreement, citing "material differences on key terms." The affected games are "World of Warcraft," the "StarCraft" series, "Hearthstone,"... Читать дальше...
U.S. stocks opened lower Thursday, with the Dow Jones Industrial Average falling around 300 points, as investors weighed remarks from Federal Reserve Bank of St. Louis President James Bullard and a report showing that weekly jobless claims fell slightly. The Dow was down 0.9% soon after the opening bell, while the S&P 500 fell 1.2% and the Nasdaq Composite dropped 1.6%, according to FactSet data, at last check. The Department of Labor reported Thursday that initial unemployment claims dipped to 222,000 in the week ending November 12. Читать дальше...
Hasbro Inc. said Thursday that average a strategic review of its business, the toy maker's board of directors have OK'd a sale process for part of its Entertainment One (eOne) TV and film business. Hasbro said it will keep the capability to develop and produce animation, digital shorts and scripted TV and films. The company said the decision to start the sale process comes after it received interest from several parties. Hasbro bought eOne in December 2019 for $3.8 billion in cash, then sold... Читать дальше...
PTC Inc. announced Thursday an agreement to buy field service management (FSM) software company ServiceMax from an entity majority owned by Silver Lake, for $1.46 billion in cash. PTC, which makes business and workforce productivity software, said the acquisition will be funded with $808 million paid at closing, which is expected to occur in early January 2023, and $650 million paid in October 2023. PTC expects the deal to add to 2023 free cash flow. PTC's stock, which was still inactive in premarket trading... Читать дальше...
Dow futures are pointing to a drop of more than 350 points at the open for the blue-chip DJIA index after St. Louis Fed President James Bullard hinted that he feels the Fed funds rate may need to top 7% to bring inflation to heel. “To attain a sufficiently restrictive level, the policy rate will need to be increased further,” Bullard said during a speech in Louisville, Ky. In his speech, Bullard didn’t explicitly say how high he feels the policy rate must go — but he did suggest that the rate... Читать дальше...
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
A new analysis of data from nearly 300 companies has found more evidence of a positive link between diverse workforces and management and the financial performance of companies.
John Ray, the new chief executive of FTX, says he's never seen such a total failure of controls in more than 40 years.
Don't turn your back completely on tech, says our call of the day from Nancy Tengler, CEO and chief investment officer of Laffer Tengler Investments.
The Philadelphia Fed said Thursday its gauge of manufacturing activity fell to a reading of negative 19.4 in November.
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