By Lewis Krauskopf NEW YORK (Reuters) – It’s been a banner year for the major U.S. stock indexes, but one economically sensitive corner of the market sticks out as a sore spot. The Dow Jones Transportation Average has fallen about 5% so far this year, a significant contrast with the 9% year-to-date rise for the …
Struggling Dow transport stocks could be economic warning signal Read More »
(Reuters) – The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed’s 2% goal last month and spending softened, traders expect. After the data, traders priced in about a 53% chance of a rate cut …
Fed seen more likely to cut rates in Sept after PCE data Read More »
By Howard Schneider WASHINGTON (Reuters) -Price cuts by major U.S. retailers and new data showing a slowdown in consumer spending may boost the Federal Reserve’s confidence in falling inflation and take the edge off of corporate profits that have grabbed a larger share of national income since the start of the COVID-19 pandemic. Adjusted for …
Price cuts, weaker spending could bolster Fed’s faith in inflation outlook Read More »
(Reuters) -Fitch Ratings lowered its 2024 forecasts for Boeing’s aircraft delivery and free cash flow on Friday as the planemaker grapples with investigations and slumping production of its strongest-selling jet. “The delivery forecasts were affected by the Civil Aviation Administration of China’s (CAAC) decision to restrict certain aircraft model deliveries to Chinese customers while it …
Fitch lowers Boeing 2024 aircraft delivery, cash flow forecasts Read More »
MONTREAL (Reuters) – Striking Montreal-area Safran workers who make components for landing gear used in Airbus and Boeing jets have made a counter offer that could avert a longer dispute, a union official told Reuters on Friday. Workers who produce forgings for the landing gear used in aircraft like Airbus’s A320 family and A350 jets, …
Striking Canadian Safran workers make new offer to avert lengthy walkout, union says Read More »
By Abigail Summerville NEW YORK (Reuters) -The Dow and S&P 500 ended higher on Friday and the Dow registered its biggest daily percentage gain since November 2023 as month-end repositioning drove a late sharp rally, with all three major indexes posting strong gains for May. Almost all of the major S&P 500 sectors ended higher, …
Dow has best daily gain for year; indexes up sharply for May Read More »
By David Shepardson WASHINGTON (Reuters) – Transportation Secretary Pete Buttigieg on Friday said major U.S. airlines had declined to commit to boosting travel benefits for military personnel, the latest clash between the Biden administration and the air carriers. Buttigieg in April had urged airlines to do more for military personnel and vowed to publicize the …
Major US airlines will not commit to boosting military travel benefits, USDOT says Read More »
(Reuters) -A special committee of Paramount Global’s board agreed to recommend a deal with Skydance Media, the Wall Street Journal reported on Friday, citing people familiar with the matter. A potential deal could end months of speculation over the media giant’s fate. Reports on a takeover offer from Skydance Media and a consortium of Apollo …
Paramount’s special committee agrees to recommend Skydance deal, WSJ reports Read More »
By Medha Singh (Reuters) -Shares of Trump Media & Technology Group fell about 5% in choppy trading on Friday, after a jury found former U.S. president Donald Trump guilty of falsifying documents to cover up a hush money payment to a porn star. The stock opened higher and was among the top trends on Reddit’s …
Trump Media drops after Donald Trump found guilty in hush money case Read More »
NEW YORK (Reuters) -The U.S. trade failure rate rose on Thursday, the fourth day of the newly launched faster settlement cycle, according to data released by the Depository Trust and Clearing Corporation on Friday. The fail settlement rate stood at 2.71% on Thursday versus an average of 1.90% in the previous two days. The average …
Wall Street trade failure rate rise in third day of faster settlement Read More »
