US wholesale inflation accelerated to its highest level in a year in February, adding to concerns that price pressures remained high even before the Iran war began. Data released by the US Labor Department on Wednesday showed the producer-price index (PPI) rose 0.7% month-on-month, up from 0.5% in January and well above economists’ expectations of
Shares of Starbucks came under pressure after RBC Capital Markets downgraded the coffee giant, citing rising labor costs, elevated investor expectations, and uncertainty around margin improvement. The brokerage cut its rating to “Sector Perform” from “Outperform” while maintaining a price target of $105, implying modest upside from current levels. Starbucks shares fell 0.9% to $96.69
Shares of Macy’s surged on Wednesday after the department store chain reported stronger-than-expected fourth-quarter results, driven by improving comparable sales and resilient higher-income shoppers, even as its forward outlook reflected macroeconomic caution. The stock rose more than 7% in trading after the company posted adjusted earnings per share of $1.67 for the fiscal fourth quarter,
Shares of Tesla fell in early Wednesday trading, slipping to $398.75, as broader US markets came under pressure following a stronger-than-expected inflation reading. The Dow Jones Industrial Average dropped 351 points, or 0.8%, while the S&P 500 declined 0.5%. The Nasdaq Composite also fell 0.5%. The move came after the latest producer price index (PPI)
After rallying to weekly highs above $75,000, Bitcoin’s price traded sideways throughout the Asian trading hours on Wednesday. The market held its breath ahead of the FOMC meeting and Fed Chair Jerome Powell’s subsequent press conference. However, the release of a hotter-than-expected Producer Price Index (PPI), which surged 0.7% month-over-month, injected immediate volatility across the
Nvidia (NASDAQ: NVDA) moved higher in the pre-market trading on Tuesday after CEO Jensen Huang used the company’s GTC keynote to deliver a bigger-than-expected view of the AI infrastructure market. Jensen’s remarks were echoed by the prominent analysts, with Wedbush’s Daniel Ives emphasizing that Nvidia remains at the center of what he sees as a
PDD Holdings stock price remains under pressure this week as traders focus on the upcoming financial results. Its ADR was trading at $103 on Monday, down by 37% from its highest level in May. So, will the stock rebound now that it has become a bargain? PDD Holdings has become a bargain ahead of earnings
Recent geopolitical tensions have triggered sharp moves across global markets, with oil prices rising, the dollar strengthening, and equities facing pressure. In contrast, Bitcoin has shown relative resilience, prompting fresh debate over its role during periods of macro uncertainty. At the time of writing, the cryptocurrency is trading at around the $74,000 mark. While correlations
Airline stocks climbed on Tuesday after major US carriers signalled that robust travel demand is helping cushion the impact of soaring fuel costs triggered by the escalating Middle East conflict, offering relief to a sector battered in recent weeks. Delta said the conflict in the Middle East has not dented travel demand so far, with
US stocks edged higher on Tuesday as investors looked to extend the previous session’s gains, while closely monitoring developments in the escalating Iran conflict and its impact on global energy markets. The S&P 500 and Nasdaq 100 gained 0.6%. Dow Jones Industrial Average advanced 398 points, or 0.85%. The cautious optimism follows a strong rebound