When Costco Wholesale Corp. announced a membership-fee increase for its shoppers late Wednesday, investors who had been eager for such a move cheered the news. Yet on Thursday, the stock fell.
This year’s deficit is on track to top last year’s, according to recent projections from the CBO.
Costco membership fees are going up to $65 for its Gold Star plan, and $130 for its Executive plan, representing a roughly 8% annual increase
The first decline in consumer prices in four years is just an hors d’oeuvre for the Federal Reserve. Its appetite to cut U.S. interest rates won’t be fully sated until the Fed gets more weak readings in its preferred inflation gauge.
Tesla Inc.’s stock fell 5% on Thursday on the heels of a report that the electric-vehicle maker will delay its closely watched Robotaxi debut by two months in order to build more prototypes.
S&P 500 fundamentals point to continuing gains.
A few weeks ago, the CPI report would have been a major plus for President Joe Biden’s re-election campaign, but right now inflation isn’t the Democratic incumbent’s biggest problem.
Declines in Tesla, Nvidia and other large tech stocks could mean a $535 billion market-cap wipeout for the grouping.
Gold futures climbed sharply on Thursday, with prices trading close to fresh record highs, as traders viewed a report that showed cooling inflation as “ammo” for the Federal Reserve to use if it cuts interest rates this year.
“With the information we have received today, which includes data on employment, inflation, GDP growth and the outlook for the economy, I see it as likely that some policy adjustments will be warranted,” Daly said Thursday.
The stock market has been in a slow-motion meltup.
The Social Security cost-of-living adjustment for 2025 might be lower than this year’s 3.2% increase as inflation moderates.
The stocks of home builders were rallying across the board on Thursday, after government data showed consumer prices falling for the first time in more than four years, boosting hopes the Federal Reserve may soon start to lower interest rates.
Low-paying checking accounts cost Americans $103 billion in lost interest.
The company recently announced live voice-assistant integrations with carmakers in Europe.
Warnings about a high valuation for the S&P 500 are justified, but one sector has bucked the trend with a significant decline to its forward price-to-earnings ratio.
European investors have been bearish for most of 2024.
If Federal Reserve Chairman Jerome Powell and his fellow board members “proceed with an interest rate cut in September, expect Trump and Republican lawmakers to seek vengeance.”
New research finding toxic metals such as lead and arsenic in tampons underscores longstanding gaps in oversight of the products, some women’s health advocates say.
Oil futures headed lower in Thursday dealings, giving up early gains after the International Energy Agency, in its monthly report, slightly raised its forecast for growth in crude demand in 2024 but lowered its outlook for next year.
