Finance
Self-driving start-up Pony.ai plans to mass produce robotrucks in China
Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks with equipment manufacturing giant Sany Heavy Industry. Pony.ai BEIJING — Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks in China with equipment manufacturing giant Sany Heavy Industry. Annual production is set to reach about 10,000 […]
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Market jump after Fed rate hike is a ‘trap,’ Morgan Stanley’s Mike Wilson warns investors
Morgan Stanley is urging investors to resist putting their money to work in stocks despite the market’s post-Fed-decision jump. Mike Wilson, the firm’s chief U.S. equity strategist and chief investment officer, said he believes Wall Street’s excitement over the idea that interest rate hikes may slow sooner than expected is premature and problematic. “The market […]
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Stock futures fall slightly after big Fed rally, Meta shares decline
Traders react on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board Chairman Jerome Powell during a news conference following a Fed rate announcement, in New York City, July 27, 2022. Brendan Mcdermid | Reuters Stock futures moved slightly lower in overnight trading after markets staged a major […]
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Stocks making the biggest moves after hours: Meta Platforms, Ford, Qualcomm, Teladoc and more
Check out the companies making headlines after the bell: Meta Platforms — Shares of the social media company dipped 3% in extended trading after missing second-quarter estimates on the top and bottom lines. Meta Platforms posted its second back-to-back decline in year-over-year sales and shared disappointing guidance amid a weakening ad environment. Ford Motor — […]
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Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession
This is a developing story. Check back for updates. Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, July 27, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell said on Wednesday he does […]
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Fed hikes interest rates by 0.75 percentage point for second consecutive time to fight inflation
The Federal Reserve on Wednesday enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to tamp down runaway inflation without creating a recession. In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive moves since the Fed […]
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Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on June 15. Text removed from the March statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]
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Stocks making the biggest moves midday: Chipotle, Microsoft, Spotify, Alphabet and more
Signage is displayed outside a Chipotle Mexican Grill Inc. restaurant in San Francisco, California, U.S., on Monday, July 20, 2020. Chipotle is scheduled to release earnings figures on July 22. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Chipotle Mexican Grill– Shares of Chipotle surged more […]
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Stocks making the biggest moves premarket: Boeing, Hilton, Spotify, Garmin and more
Check out the companies making headlines before the bell: Boeing (BA) – Boeing posted a wider-than-expected quarterly loss with revenue that fell below consensus estimates. However, Boeing reported positive operating cash flow and, unlike in prior quarters, did not see any charges related to the production of its 737 MAX jet. Boeing jumped 4.4% in […]
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Top Federal Reserve officials say they misread inflation and now plan to correct the course
Top officials at the Federal Reserve were seeing inflation data come in very hot for months before policymakers moved to wind down monetary policies that were stimulating the economy. A chorus of analysts, economists and former policymakers have chimed in, saying that was a mistake. “The forward guidance, overall, slowed the response to the Fed […]
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