Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, Sept. 23, 2022. To the Dragon | Bloomberg | Getty Images To the Dragon | Bloomberg | Getty Images As the Federal Reserve ramps up efforts to tame inflation, sending the dollar surging and bonds and … Read more
Top Rite Aid executives grumbled about a widespread shoplifting problem in New York City after the retailer reported worse-than-expected quarterly results on Thursday. Rite Aid CEO Heyward Donigan told analysts the company “experienced unexpected headwinds this quarter from front-end shrink, particularly in our New York urban stores.” Donigan noted the company has begun “shrinking our … Read more
Sometimes, the best time to buy stocks is when everyone else is afraid to jump aboard. That’s easier said than done, of course, as not all stocks recover from a significant price drop. And the reason (or reasons) behind the price drop can also complicate matters. Right now, the S&P 500 Index is in bear … Read more
It’s normally peak season at Asurion Phone & Tech Repair, but Gean Rodriguez said foot traffic has slowed down in the last couple of weeks. The Chicago repair technician wonders if cooler weather is keeping customers at home, or if people are saving their money for the holidays. Without the answers, he’s waiting for business … Read more
It’s a tough S&P 500 stock market to make money on. But some investors are still finding a way to do it. X All told, had you invested $10,000 in January and reinvested your money into the top stock currently in the S&P 500 each month this year, including Biogen (BIIB) in September, you’d have … Read more
It’s official: All three of the major US stock indexes are now entrenched in a bear market. Since hitting their all-time closing highs, the iconic Dow Jones Industrial Averagebenchmark S&P 500and growth-dependent Nasdaq Composite (^IXIC -1.51%) have respectively shed as much as 20%, 24%, and 34% of their value. While there’s no denying that bear … Read more
During antitrust trial over its Northeast Alliance partnership with JetBlue, American Airlines has argued that the only way it can compete in New York is by teaming up with the smaller airline. The problem, American says, is that it’s impossible to get access to new “slots” that allow it to schedule more departures and arrivals … Read more
When Amy Hunting* first heard about one of the biggest cyber attacks in Australian history, she immediately checked to see if her personal details had been compromised. She realized that, as a customer of the country’s second largest telecommunications provider, Optus, there was a fair chance she was one of about 10 million people whose … Read more
New-car sales are expected to rise in the just-ending third quarter, but a deteriorating market for used vehicles — which sent CarMax Inc. shares tumbling Thursday — suggests trouble ahead for automakers. The resale market often indicates where new-car demand is headed — and CarMax said vehicle sales dropped in the three months ended Aug. … Read more
You’re going to name a recession after me? I wanted to be lionized for raising rates while the market handled inflation. Drew Anger The Federal Reserve has chosen to emphasize a new goal, which is not one of their mandates. During a recent presentationChairman Jerome Powell said: … you want to be at a place … Read more