Day: September 13, 2022
An unexpectedly hot consumer-price index report for August has fed funds futures traders boosting the likelihood of a jumbo-size 100 basis point rate hike by the U.S. central bank to 34%, up from zero chance on Monday. Such a hike would take the fed funds rate target to between 3.25% and 3.5%, from a current […]
Stocks tumbled on Tuesday, with the Dow Jones Industrial Average trading down more than 1,000 points, after August inflation came in hotter than expected, underscoring the challenge the Federal Reserve faces in its fight to tame surging prices that have been slow to retreat from a 40-year high. The Dow Jones Industrial Average DJIA, -3.94% […]
New Jersey’s Department of Labor & Workforce Development said Tuesday that Uber Technologies Inc. UBER, -3.63% and a subsidiary submitted a $100 million payment to the agency’s Unemployment Trust Fund after an audit determined that the companies wrongfully classified nearly 300,000 drivers as independent contractors. In doing so, Uber and the Rasier LLC subsidiary “[deprived] […]
The U.S. dollar soared versus major rivals Tuesday after the August consumer price index came in hotter than expected, stoking expectations the Federal Reserve will continue aggressively tightening monetary policy in its effort to rein in price pressures. The ICE U.S. Dollar Index DXY, +1.44% a measure of the currency against a basket of six […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are under the 200-day Moving Average, which means the prevalence of the downtrend. A test of 4/8 is expected, followed by a breakaway and falling to the support level of 5/8. The scenario can be cancelled by breaking through 5/8, which might lead to a trend […]
Paramount Global PARA, -7.15% is mulling ending its Showtime streaming service, and folding its content into its Paramount+ service, according to a report in The Wall Street Journal. Citing people familiar with the situation, the WSJ report said the discussions surrounding the move, which would help streamline Paramount’s offerings, are still early. The report of […]
Oil futures settled lower on Tuesday, with Federal Reserve policy expectations “dominating the price action,” said Tyler Richey, co-editor of Sevens Report Research. The “hot” CPI print brought a 100-basis-point rate hike into play at the September meeting, he said. A more aggressive Fed in the months ahead, “will choke off growth and ultimately weigh […]
The Biden administration on Tuesday said it’s working with shippers, truckers and air-freight companies in the event of a freight-rail strike that could begin later this week. The White House is “working with other modes of transportation…to see how they can step in and keep goods moving” if rail workers strike at the end of […]
Amazon.com Inc. AMZN, -6.18% said Tuesday it will invest more than $450 million in two new benefits and rate increases, to offer competitive compensation for delivery service partners (DSPs) and drivers. The benefits include a new academic program called Next Mile that provides up to $5,250 a year to DSP drivers for access to more […]
Twitter Inc. TWTR, +1.01% shareholders voted Tuesday to approve Tesla Inc. TSLA, -3.57% Chief Executive Elon Musk’s $44 billion bid to acquire the embattled company and take it private, pushing Twitter shares up nearly 2%. Musk, however, is attempting to back out of the deal with claims that Twitter underreported fake accounts, prompting Twitter to […]
