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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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Watch Fed Chair Jerome Powell speak live on economy, policy views
[The stream is slated to start at 1:55 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell is set to speak Monday to the National Association for Business Economists during the organization’s annual conference in Nashville. The central bank chair is delivering […]
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Stocks making the biggest moves midday: EchoStar, CVS Health, Stellantis and more
Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.’s stake in Nio China to […]
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