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People are seen inside the First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segar Mike Segar | Reuters Shares of First Republic were under severe pressure Friday despite the beaten-down regional bank receiving aid from other financial institutions the day before. At the market close, … Read more
In this photo FedEx logo is seen in Washington D.C., United States on February 16, 2023. Celal Gunes | Anadolu Agency | Getty Images FedEx on Thursday hiked its full-year earnings forecast as it said cost-cutting measures offset continued demand weakness at units including FedEx Express. FedEx now expects adjusted earnings per share for fiscal … Read more
Pictured here is Shanghai’s Lujiazui Financial District on June 7, 2022. Vcg | Visual China Group | Getty Images BEIJING — Ratings agency Moody’s said Wednesday it maintained a “negative” outlook on China’s banking sector as a result of a drawn out recovery after Beijing’s Covid controls ended. China’s economy missed a national growth target … Read more
BEIJING — China’s leaders struck a cautious tone about the outlook for the country’s economic rebound, after ending most Covid restrictions on business activity late last year. Beijing announced Sunday a target of “around 5%” growth in gross domestic product for 2023, with only a modest increase in fiscal support. “The government’s conservative growth target … Read more
Starting with the January jobs report released Feb. 3, it has been a relentless stream of bad news on the inflation front. The past week has brought no relief: from the January personal consumption expenditures price report to the prices paid component of the ISM Manufacturing report to Thursday’s initial jobless claims and final unit … Read more
Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Justin Sullivan | Getty Images Electric vehicle startup Rivian Automotive reported mixed fourth-quarter earnings and a lackluster production outlook after the bell Tuesday. Shares of Rivian were down by roughly 8% during … Read more
Artificial intelligence isn’t just a hot topic in Hollywood. While horror robot movie “M3gan” racks up millions at the winter box office, the ETF industry is seeing opportunities from the controversial technology. According to ROBO Global CIO William Studebaker, the economic benefits could be staggering. “You’re going to see a tsunami effect in terms of … Read more
Federal Reserve officials at their most recent meeting indicated that there are signs inflation is coming down, but not enough to counter the need for more interest rate increases, meeting minutes released Wednesday showed. While the Jan. 31-Feb. 1 meeting concluded with a smaller rate hike than most of those implemented since early 2022, officials … Read more
With Wall Street jitters increasing over the number of interest rate hikes ahead, VettaFi’s Todd Rosenbluth sees signs of a comeback in managed fixed-income exchange-traded funds and away from passive ETF products. “It’s not clear how fast the Fed is going to slow down and how quickly that that’s going to adjust the marketplace,” the … Read more
Coca-Cola on Tuesday reported quarterly revenue that beat analysts’ expectations, driven by higher prices for its drinks. But those higher prices have hurt demand for Coke products like Simply Orange Juice and Fairlife Milk. Coke said its unit case volume, which strips out the impact of currency and price changes, fell 1% in its fourth quarter. … Read more