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Consumer prices rose 0.2% in September, hotter than expected; annual rate increased 2.4%
The pace of price increases over the past year took an unexpected step higher in September as policymakers contemplate their next move on interest rates, according to a Labor Department report Thursday. The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased 0.2% for the month, […]
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Former Pfizer CEO, finance chief step back from Starboard’s activist campaign
Ian Read, chairman and chief executive officer of Pfizer, speaks as President Donald Trump, left, listens during an announcement on a new pharmaceutical glass packaging initiative in the Roosevelt Room of the White House in Washington, D.C., July 20, 2017. Andrew Harrer | Bloomberg | Getty Images Former Pfizer CEO Ian Read and ex-CFO Frank […]
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Fed officials were divided on whether to cut rates by half a point in September, minutes show
WASHINGTON – Federal Reserve officials at their September meeting agreed to cut interest rates but were unsure how aggressive to get, ultimately deciding on a half percentage point move in an effort to balance confidence on inflation with worries over the labor market, according to minutes released Wednesday. The meeting summary detailed reasons that policymakers […]
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Stocks making the biggest moves midday: Generac, Amazon, Pfizer and more
Check out the companies making headlines in midday trading: Generac Holdings — Shares of the maker of power generators surged 8% as Hurricane Milton intensified into a Category 5 storm . Amazon — The e-commerce stock lost 2.9% after Wells Fargo downgraded shares to equal weight from overweight and cut its price target, citing slowing […]
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Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help, sources say
People pass by the Pfizer headquarters building in New York City, Jan. 29, 2023. Kena Betancur | View Press | Corbis News | Getty Images Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with […]
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U.S. job creation totaled 254,000 in September, much better than expected
The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday. Nonfarm payrolls surged by 254,000 for the month, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate […]
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Stocks making the biggest moves midday: Tesla, Nike, Humana and more
Check out the companies making headlines in midday trading. Tesla — Shares declined about 4% after the electric vehicle company fell short of third-quarter delivery estimates . Deliveries came in at 462,890, versus a FactSet estimate of 463,310. Nike — The athletic apparel and footwear stock lost 6% after Nike withdrew its full-year guidance and […]
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Tesla stock slips after it reports 462,890 total deliveries during the third quarter
A worker unloads a new Tesla Model 3 from a truck at a logistics drop zone in Seattle, Washington, US, on Thursday, Aug. 22, 2024. Bloomberg | Bloomberg | Getty Images Tesla posted its third-quarter vehicle production and deliveries report on Wednesday. The stock fell about 3.5% in premarket trading after the report. Here are the […]
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Port strike could reignite inflation, with larger economic impact dependent on how long it lasts
Port of Miami dockworkers strike near the port entrance and demand a new labor contract, on October 1, 2024 in Miami, Florida. Giorgio Viera | Afp | Getty Images A strike hitting ports along the East and Gulf coasts could stoke prices for food, autos and a host of other consumer goods but is expected […]
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Powell indicates further rate cuts, but insists the Fed is ‘not on any preset course’
US Federal Reserve chairman Jerome Powell holds a press conference in Washington, DC, on September 18, 2024. Mandel Ngan | AFP | Getty Images Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive. Instead, the […]
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