It's been a week of records for the U.S. stock market — and for several stocks in the CNBC Investing Club's portfolio. The S & P 500 jumped to an all-time high of 6,187.68 Friday, while the tech-heavy Nasdaq Composite rose to a new record of 20,311.51. Both benchmark gauges...
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Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows
Prices that consumers pay rose slightly in May, while the annual inflation rate edged further away from the Federal Reserve's target, according to a Commerce Department report Friday.The personal consumption expenditures price index, the Fed's primary inflation reading, rose a seasonally adjusted 0.1% for the month, putting the annual inflation...
FedEx beats earnings estimates, forecasts $1 billion cost savings in the next fiscal year
FedEx reported better-than-expected quarterly earnings and revenue Tuesday as the company announced it had achieved its $4 billion cost-cutting goal and will aim to trim another $1 billion in its upcoming fiscal year.The company achieved its "structural cost reduction target, in the face of ongoing headwinds," CEO Raj Subramaniam said...
Top Wall Street analysts like these three stocks for long-term growth
Silas Stein | Picture Alliance | Getty ImagesThe Middle East conflict and macro uncertainty are expected to keep global stock markets volatile, so it would be prudent for investors to ignore short-term noise and pick names with solid growth prospects.To this end, top Wall Street analysts' research can be a...
China doubles down on promoting yuan as confidence in U.S. dollar takes a beating
A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023.Athit Perawongmetha | ReutersChina is devising more ways for foreign institutions to use the yuan, as international confidence in the U.S. dollar falters.The moves aim at challenging...