Cleveland Federal Reserve President Loretta Mester said Tuesday she still expects interest rate cuts this year, but ruled out the next policy meeting in May. Mester also indicated that the long-run path is higher than policymakers had previously thought. The central bank official noted progress made on inflation while the economy has continued to grow. […]
U.S. Securities and Exchange Commission chairman Gary Gensler testifies during a Senate Banking Committee hearing on Capitol Hill September 12, 2023 in Washington, DC. Drew Angerer | Getty Images The annual two-day “SEC Speaks” event kicked off Tuesday, offering clues to what the priorities will be for the Securities and Exchange Commission in the coming […]
Check out the companies making headlines before the bell. PVH — Shares of the Calvin Klein and Tommy Hilfiger parent tanked more than 21% on weak revenue guidance for the first quarter and full year. The retailer surpassed quarterly estimates on the top and bottom lines, but warned of a tougher macroeconomic setup and particular […]
UBS logo is seen at the office building in Krakow, Poland on February 22, 2024. Jakub Porzycki | Nurphoto | Getty Images UBS on Tuesday announced a new share repurchase program of up to $2 billion, with up to $1 billion of that total expected to take place this year. “As previously communicated, in 2024 […]
A Xiaomi SU7 electric sedan is seen displayed at a regional HQ of Xiaomi in Nanjing in east China’s Jiangsu province. Future Publishing | Future Publishing | Getty Images BEIJING — Shares of Chinese smartphone maker Xiaomi surged 15% when the Hong Kong market opened Tuesday, the first trading day since the company launched its […]
Investor demand for exchange-traded funds is not slowing down, and firms without ETF offerings may risk losing business, according to one Goldman Sachs expert. Steve Sachs, global chief operating officer of Goldman’s ETF Accelerator, notes that despite the time and resources required to launch an ETF, not offering current and new investment strategies as ETFs may […]
Check out the companies making headlines in premarket trading. Micron Technology — Shares ticked up roughly 1.1% after Bank of America increased its price target on the chipmaker, with the analyst forecasting high-bandwidth memory technology demand will grow to more than $20 billion by 2027. 3M — Shares of the manufacturer rose nearly 3% Monday. […]
The Federal Reserve may have new incentives in the second quarter to cut rates deeper this year. Canaccord Genuity’s Tony Dwyer thinks a deteriorating jobs market and easing inflation will ultimately push the Fed to act. “I’m not saying that they have to go back to zero, but they have to be more aggressive,” the […]
While Starbucks has warned of price competition in China and Apple tries to drum up momentum with a new store in Shanghai, other U.S. consumer brands are seeing growth and planning for more. Domino’s Pizza’s China operator DPC Dash reported Wednesday its 26th straight quarter of same-store sales growth — including the pandemic period. Last […]
Hedge fund manager Mark Yusko is predicting bitcoin will more than double this year to $150,000. “Get off zero,” the Morgan Creek Capital Management CEO and chief investment officer told CNBC’s “Fast Money” this week. Yusko thinks investors should have at least 1% to 3% allocated to bitcoin in their portfolios. “Bitcoin is the king. […]
