Intel ( INTC) climbed almost 6% after the chipmaker reported a surprise second quarter profit and signaled an end to the slump in personal computers. Wall Street responded to an improved outlook on inflation and continued benefits from higher prices on products such as Tide. The company reported better-than-expected fiscal fourth quarter results as sales and profits grew in all of the company's segments. Shares of Procter & Gamble ( PG) rose nearly 3% in the afternoon session. Here are some of the stocks leading Yahoo Finance's trending tickers page on Friday: The gap between this framework and the actual Fed funds rate may suggest central bankers remain behind the curve, he said, adding if housing and consumer spending accelerate from here, the Fed will have to raise rates a lot more. A framework that the Fed has relied on to understand what the Fed funds rate should be suggests that rates should be much higher, considering the current level of inflation and unemployment, said Torsten Slok, chief economist at Apollo Global Management, in a note on Friday. Some experts have suggested a pause in hikes followed by a reacceleration in the economy could paint a troubling picture. On Friday a price gauge closely watched by the Fed rose just 3% in June from a year earlier, down from a 3.8% annual increase in May, but still above the Fed’s inflation target of 2%. But investors are still digesting the latest Fed decision to raise rates by 0.25% even as further signals indicate that inflation is cooling.Īs of Friday, the probability of a pause on rate increases stood at 82%, according to CME FedWatch Tool, whereas the chances of a rate hike came in at 18%. Will the September Fed meeting spell the end of hikes?įed Chair Jerome Powell said this week that no decision has been made yet on whether to hike rates again at the upcoming September meeting or to keep them steady. The company has reduced its headcount and focused on cost-cutting while also getting back to what it's always done best: driving engagement and innovating on its social media platforms. Zuckerberg and Meta have built the 2023 comeback around the " Year of Efficiency," reports Yahoo Finance’s Josh Schafer. Rather, it’s the belief that the company can continue to amp up engagement on its platforms, driven in part by recommendation algorithms that steer users to accounts they don’t already follow but might enjoy. Meta’s bet on the metaverse isn’t driving the rebound. Investors continued to pour in this week after the company posted better-than-expected second quarter results and a forecast for higher revenue than Wall Street had anticipated for the current quarter. Meta’s stock price has catapulted in value, rising more than 150% for the year, and is well on its way to erasing the substantial losses from 2022. But Zuckerberg and Meta are getting their licks in on Wall Street. The world is still waiting on the cage match between tech billionaires Mark Zuckerberg and Elon Musk.
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