(Reuters) – A gauge of manufacturing activity in the U.S. Mid-Atlantic region slid to the lowest in nearly two years in December, with new orders and shipments both contracting in an indication the factory sector remains in a slump. The Federal Reserve Bank of Philadelphia said on Thursday that its monthly manufacturing index fell for …
Philly Fed’s manufacturing gauge slumps to 20-month low Read More »
By Nathan Gomes (Reuters) -CarMax on Thursday posted its first quarterly sales increase in more than two years that also topped Street expectations, signaling a rebound in the used-car market and sending the retailer’s shares up as much as 12%. A post-pandemic trend of customers opting for better deals on new vehicles equipped with improved …
CarMax sales rise for first time in two years as used car demand revs up Read More »
(Reuters) -Dollar Tree said on Thursday interim CEO Michael Creedon would take on the role permanently, tasking an insider to lead a turnaround of the dollar-store chain facing weak demand and intense competition. Creedon, who worked at auto parts retailer Advance Auto Parts for nearly a decade before joining Dollar Tree in 2022, was named …
Dollar Tree names Michael Creedon as permanent CEO to steer turnaround Read More »
(Reuters) – U.S. new vehicle sales are expected to rise 7.3% in December, aided by deeper discounts from automakers and dealers, industry consultants J.D. Power and GlobalData said in a joint report on Thursday. WHY IT’S IMPORTANT he rise in December sales points to a resilient new-vehicle market, which faces pressure from high interest rates. …
US new vehicle sales set to rise 7.3% in December, report says Read More »
WASHINGTON (Reuters) – U.S. existing home sales surged to an eight-month high in November, but higher mortgage rates and house prices remain a constraint heading into 2025. Home sales jumped 4.8% last month to a seasonally adjusted annual rate of 4.15 million units, the highest level since March, the National Association of Realtors said on …
US existing home sales jump to eight-month high in November Read More »
WASHINGTON (Reuters) – The U.S. economy grew faster than previously estimated in the third quarter, driven by robust consumer spending. Gross domestic product increased at an upwardly revised 3.1% annualized rate, the Commerce Department’s Bureau of Economic Analysis said in its third estimate of third-quarter GDP on Thursday. The economy was previously reported to have …
(Reuters) -Tesla is in early talks with the authorities in the city of Austin, Texas, about its autonomous vehicle technology, Bloomberg News reported on Thursday. A Tesla employee has been in touch with the city’s autonomous vehicle task force since at least May to establish safety expectations for the vehicles, the report said, citing emails …
Tesla in talks with city of Austin over self-driving technology, Bloomberg News reports Read More »
(Reuters) – Merck said on Thursday its experimental drug combination to treat some adults with HIV-1 infection met the main goal of two late-stage studies. (Reporting by Mariam Sunny in Bengaluru; Editing by Shilpi Majumdar)
A look at the day ahead in U.S. and global markets from Mike Dolan Although the Federal Reserve’s “hawkish cut” on Thursday had been broadly expected, markets now fear 4% policy rates will be the floor for the coming year at least – and no further easing until midyear or later. The picture painted by …
Morning Bid: Markets fear Fed floor at 4%, dollar booms Read More »
By Michael S. Derby and Ann Saphir NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. “We’re not allowed to own bitcoin,” Powell said at a press conference following the Fed’s latest two-day …
Powell says Fed cannot hold bitcoin, not seeking to change that Read More »
