One popular passive exchange-traded fund could soon see a major shakeup with potentially serious ramifications for the technology stocks that have been driving much of the market’s gains in 2024.
The president of the Cleveland Federal Reserve said the low inflation readings in May were great news, but the central bank needs to “see that continue a bit longer” before it can cut interest rates.
Nucor’s stock was headed for a 7-month low on Friday, after the steel and steel-products maker warned of a second-quarter earnings shortfall, citing weakness at its steel mills business.
Hurco Cos. Inc.’s stock HURC tumbled 15.6% early Friday, after the industrial technology company said it’s suspending its quarterly dividend as it works to enhance its financial flexibility.