Tag: brokerswatch

Cathie Wood’s ARK Innovation ETF was tumbling Tuesday morning as technology stocks slumped amid concerns that a stronger-than-expected inflation reading Tuesday will lead to more aggressive interest rate hikes by the Federal Reserve. Shares of ARK Innovation ARKK, -6.79% were down 6.3% Tuesday morning, while the Technology Select Sector SPDR Fund XLK, -5.31% fell 3.8%, […]

Financial-technology stocks are among the biggest losers in the tech sector Tuesday after the August consumer-price index showed a surprise monthly increase, even as the year-over-year growth rate dropped to 8.3% from 8.5%. Shares of artificial-intelligence lending company Upstart Holdings Inc. UPST, -10.85% are off 9.3% in Tuesday morning trading, while shares of buy-now-pay-later operator […]

World Fuel Services Corp. INT, -3.35% said Tuesday it was raising its quarterly dividend by 17%, to 14 cents a share from 12 cents a share. The fuel distribution company’s new dividend will be payable Oct. 7 to shareholders of record on Sept. 23. The stock fell 3.2% in morning trading. Based on current stock […]

U.S. stock futures retreated on Tuesday as the August consumer-price index came in surprisingly hot, sending short-term Treasury yields to their highest levels since 2007, while derivatives traders priced in a 20% chance of a 100 basis-point interest-rate hike when the Fed meets later this month. Futures for the S&P 500 SPX, -4.32% were down […]

U.S. stocks finished sharply lower Tuesday, with all three major indexes posting their worst daily drop since June 2020 as high U.S. inflation has proven hard for the Federal Reserve to tame through rate hikes. The Dow Jones Industrial Average DJIA, -3.94% fell about 1,276 points, or 3.9%, ending near 31,104. The S&P 500 index […]

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 […]

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 […]