Economy
-
General Mills’ stock slides 5% as sales fall short. North American retailers are reducing inventory.
General Mills Inc.’s stock slid 5% Wednesday, after the parent of brands including Cheerios, Nature Valley, Blue Buffalo pet products and Pillsbury, posted a steep decline in profit and weaker-than-expected sales for its fiscal fourth quarter. “Net sales performance was negatively impacted by a reduction in retailer inventory, with comparable Nielsen-measured retail sales up 10%…
-
Bank stocks rise ahead of Fed stress test results as analyst sees ‘relatively calm’ outcome
Bank stocks rose Tuesday a day ahead of the publication of the Federal Reserve’s annual stress test results for U.S. banks after a difficult first half for the sector as it absorbed the impact of three regional bank failures this year. After regulators have studied bank balance sheets and made any potential tweaks to capital…
-
Brand new trade idea – Raging Bull
Today (Tuesday 27th) @ 2pm EST, I am opening up the doors to my weekly “Wall Street Bookie” live training session. This is your opportunity to come join me to learn more about option selling strategies. I have 3 new trades I plan to get started on today, and I would love to show…
-
‘Cognitive decline is not inevitable’: Brain health needs to be addressed by individuals, communities and policy makers
Dementia is not a foregone conclusion and needs to be fought on all levels by individuals, communities, healthcare providers and policy makers, according to a new report by AARP and the Global Council on Brain Health. More than 6 million Americans have Alzheimer’s disease, and that number will more than double to 12.7 million by…
-
U.S. stocks bounce, Dow rises 250 points as investors weigh upbeat economic data
[]U.S. stocks traded higher Tuesday, led by mega tech stocks, with data suggesting the economy remains resilient despite higher interest rates as investors approach the end of the second quarter and the first half of the year. What’s happening The Dow Jones Industrial Average DJIA, +0.72% rose 255 points, or 0.8%, to 33,970. The S&P…
-
After a coup attempt in Russia, how should you invest $100,000 right now?
Got $100,000 to spare? If so, do the opposite of what happened in Russia over the weekend — don’t make any sudden moves. U.S. stocks were mostly treading water Monday after a dramatic weekend in Russia when Yevgeny Prigozhin, leader of the mercenary Wagner Group, marched to the outskirts of Moscow, Russia’s capital, threatening the…
-
IPO market readies for six-deal week, with four expected to raise more than $100 million
There were signs of life in the initial public offering on Monday with a lineup of six deals on tap this week, four of which are expected to raise more than $100 million. There were zero pricings last week, which was shortened by the Juneteenth Holiday Monday. But in another upbeat sign, five companies have…
-
Banks face yet another risk, this time from faster payments, Moody’s says
A forthcoming Federal Reserve initiative to enable faster payments could give consumers and businesses more flexibility but bring further risk for banks, according to a Moody’s analyst. With the Federal Reserve slated to roll out its FedNow instant-payment system in July, Moody’s analyst Stephen Tu weighed in Monday to suggest the service may end up…
-
HELOCs are back. Cash-strapped borrowers are tapping into a $33 trillion pile of home equity.
Goodbye pandemic refi cash-outs. Hello HELOCs? Home-equity lines of credit (HELOCs) and second-lien mortgages have been staging a notable comeback as U.S. homeowners look for liquidity and ways to monetize the pandemic surge in home prices, according to BofA Global. It used to be that borrowers sitting on an estimated $33 trillion pile of equity…
-
Despite high prices, Americans are looking at pricier dining options — and other fun events
Inflation is causing people to spend more on groceries, and there are fears of a looming recession — but the post-pandemic trend of people venturing out to dine and have fun seems to be continuing. Despite high food prices, it seems that Americans are willing to splurge on fun and fine dining. In the past…
