American Express, Intel, Silvergate Capital and more

American Express, Intel, Silvergate Capital and more

American Express, Visa and Mastercard signage is displayed in a storefront in New York. Scott Eells | Bloomberg | Getty Images Find out which companies are making headlines in the midday business. American Express – The credit card company saw its shares jump 11% after it released upbeat earnings and revenue forecasts for 2023 that … Read more

Key Fed measure eased, spending also fell

Key Fed measure eased, spending also fell

Consumers spent less in December even as a measure of inflation considered key by the Federal Reserve showed the pace of price increases was slowing, the Commerce Department reported on Friday. Personal consumption expenditure excluding food and energy rose 4.4% from a year ago, down from 4.7% in November and in line with the Dow … Read more

PCE data shows further decline in Fed’s favorite inflation gauge

PCE data shows further decline in Fed’s favorite inflation gauge

Text size The Fed is closely monitoring labor market tensions as a barometer of the health of the US economy. Above, a worker at Chick-fil-A in Texas. Brandon Bell/Getty Images The Federal Reserve’s preferred measure of inflation rose 4.4% annually in December, from 4.7% in November, the latest sign that the era of scorching prices … Read more

Energy giants set to break annual profit records

Energy giants set to break annual profit records

US President Joe Biden previously pointed the finger at Exxon Mobil for making “more money than God” last year. Brandon Bell | Getty Images Some of the world’s biggest oil and gas companies are poised to report record annual profits, raking in extraordinary revenues after a year of volatile fossil fuel prices amid Russia’s assault … Read more

Microsoft and ArcelorMittal back clean steel spinoff from MIT Boston Metal

Microsoft and ArcelorMittal back clean steel spinoff from MIT Boston Metal

Removing molten iron from a pilot-scale facility at Boston Metal’s facility in Woburn, Mass. Photo courtesy of Boston Metal The $1.6 trillion steel industry is the backbone of the modern world. It is also a significant contributor to global warming, accounting for between 7% and 9% of global carbon dioxide emissions, according to the World … Read more

Asia-Pacific stocks rise as Tokyo inflation nears 42-year high

Asia-Pacific stocks rise as Tokyo inflation nears 42-year high

Adani shares plunge further for second straight day of losses Shares of Adani Group companies continued to post steep losses for a second consecutive trading session in India after short-selling firm Hindenburg announced its short position in the conglomerate companies earlier this week. Adani refuted the allegations in two separate statements, adding that the group … Read more

Adani shares fall further as they consider legal action against Hindenburg

Adani shares fall further as they consider legal action against Hindenburg

Adani Group Chairman and Founder Gautam Adani during the News18 Rising India Summit on February 25, 2019 in New Delhi, India. Since becoming a billionaire in 2008, Adani is now one of the richest people in the world, with a fortune of $113 billion, according to the Bloomberg Billionaires Index. Hindustan Times | Hindustan Times … Read more

Stock futures fall after Dow posts five-day winning streak

Stock futures fall after Dow posts five-day winning streak

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, January 26, 2023. andrew kelly | Reuters Stock futures fell Friday morning as investors anticipate earnings and economic reports expected later in the day. Futures contracts linked to the Dow Industrial Average fell 42 points, or 0.12%. S&P 500 … Read more

Stock futures fall after Dow posts five-day winning streak

Stock futures fall after Dow posts five-day winning streak

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, January 26, 2023. andrew kelly | Reuters Stock futures fell Friday morning as investors anticipate earnings and economic reports expected later in the day. Futures contracts linked to the Dow Industrial Average fell 42 points, or 0.12%. S&P 500 … Read more

Chevron, Tesla, Seagate Technology, United Rentals and more

Chevron, Tesla, Seagate Technology, United Rentals and more

Find out which companies are making headlines in the midday business. Seagate Technology – Shares of the data storage company jumped more than 10% a day after Seagate recorded beatings up and down for its fiscal second quarter. Seagate reported earnings of 16 cents per share on revenue of $1.89 billion. Analysts called for earnings … Read more