China’s central bank cut a key policy rate for the first time since August on Thursday, a widely-expected move as Beijing ramps up policy support to boost the economy amid a darkening growth outlook. The People’s Bank of China said it lowered the rate on 237 billion yuan ($33.08 billion)…
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Growth in China’s consumption and industrial production cooled in May, showing that the country’s economic recovery is losing momentum, official data showed Thursday. Retail sales, a proxy for China’s consumption, rose 12.7% from a year earlier in May, down from an 18.4% increase in April, said the National Bureau of…
Older adults are finally catching up on surgeries for problems with their knees and hips they delayed during the pandemic. That means higher costs for health insurers and potential gains for hospital and surgical-center operators. The trend was revealed by executives at Dow DJIA component UnitedHealth Group Inc. UNH at…
By Christian Moess Laursen Shell said Wednesday that it will increase shareholder distributions, while outlining plans for $5 billion in buybacks and a reduction in capital spending. The energy major said it will lift its shareholder distribution to 30%-40% of cash flow from operations through the cycle, with a 15%…
Tesla Inc. raised U.S. prices for its Model Y crossover by $250 on Tuesday. The starting price for a Model Y is now $47,740, according to Tesla’s website. Prices for the “long-range” and “performance” versions remained the same. After cutting prices on its vehicles earlier this year to boost sales,…
Here are some of the most notable movers in Wednesday’s session: Stock gainers: Shares of surgery-linked names including Stryker Corp. SYK, Universal Health Services Inc. UHS, Zimmer Biomet Holdings Inc. ZBH, Teleflex Inc. TFX, Boston Scientific Corp. BSX, Edwards Lifesciences Corp. EW and Intuitive Surgical Inc. ISRG were among the…
The two-year Treasury yield jumped Wednesday afternoon after the Federal Reserve officials indicated more interest rate hikes are on the way this year even as they voted for no rate increase in June. What’s happeningWhat’s driving markets Projections released on Wednesday showed that the median estimate of policy makers for…
In a recent study, we used our updated National Retirement Risk Index (NRRI) to see whether households have a good sense of their own retirement preparedness — do their expectations match the reality they face? That is, do households at risk know they are at risk? Understanding households’ self-assessed retirement…
SoFi Technologies Inc. shares have more than doubled this year, but they’re still cheap in the eyes of BTIG analyst Lance Jessurun. “Ultimately, while SoFi’s shares may be inexpensive now, it’s difficult to see valuation remaining this low,” he wrote in a Tuesday note to clients, as he initiated coverage…