News
Abbott Laboratories ABT, +1.77% said Friday that it will pay rebates for other infant formula products similar to Similac through August as a result of the current formula shortage caused in part by a recall at its plant in Michigan. The company has infant formula contracts with the Special Supplemental Nutrition Program for Women, Infants, […]
White House press secretary Jen Psaki on Friday told reporters that the Biden administration’s Department of Health and Human Services has launched a “new webpage that provides resources and places that parents can go to obtain formula, including contacts with companies, food banks, healthcare providers.” The website is hhs.gov/formula, she said. The Biden administration on […]
Shares of Amazon.com Inc. AMZN, +5.73% rallied 3.9% in afternoon trading Friday, amid a broad rally in technology names, but was still on track for the longest weekly losing streak in 14 years. The rally in the ecommerce giant’s stock comes after it rose 1.5% on Thursday, which followed a 3.2% drop on Wednesday to […]
EURUSD, “Euro vs US Dollar” After finishing the descending wave at 1.0444 and then forming a new consolidation range around this level, EURUSD has broken it to the downside; right now, it is still falling with the target at 1.0290. Later, the market may correct to return to 1.0444 and then form a new descending […]
Fed chairman Jerome Powell warned markets yesterday that the central bank cannot promise a soft landing. The Fed is fighting to get inflation under control and back down to its 2% target while minimizing the impact of tightening on the economy, a so-called soft landing. However, with inflation running well above target the Fed has […]
AUDJPY Takes The PlungeIt’s been another weird and wonderful week in financial markets. We’ve see all kinds of action plenty of interesting developments with crypto markets crashing, the Dollar soaring and the Fed confirming plans to hike by further .5% increments in coming weeks. In terms of picking the best market action to cover, in […]