During early trading on Friday, the 2-year Treasury yield reached a 15-year high of 4.266 percent as investors weighed the latest interest rate hike from the Federal Reserve. By the close of trading, the 2-year note had settled at 4.21 percent. The 10-year yield also hit an 11-year high...
Boeing has agreed to settle charges with the Securities and Exchange Commission (SEC) over charges that it misled investors after two plane crashes involving its 737 MAX jetliners. The two crashes collectively killed 346 passengers and crew members. The jets were also grounded as investigators probed the accidents. The...
On Wednesday, the Feds issued its third consecutive three-quarters of a percentage point increase. The Reserve also hinted that there will likely be future rate hikes. Inflation has been running close to its highest level in more than forty years, prompting the central bank to raise interest rates. Wednesday’s increase...
Volkswagen is aiming for a $70.1 billion to $75.1 billion valuation for sportscar automaker, Porsche. Volkswagen, the parent company of Porsche, had been expected to make an announcement on the price range later this month or in early October. In 2011, Volkswagen and Porsche merged, and Porsche was given a...
On Tuesday, U.S. Treasury Yields rose higher as investors cheered the release of strong economic data. The 10-year Treasury yield rose to a daily high of 3.353 percent, adding around 16 basis points. The benchmark finally settled around 3.347 percent towards its highest close since the middle of June. Meanwhile, the...
CVS plans to acquire Signify Health in a cash deal which will allow the pharmaceutical giant to buy the healthcare platform at $30.50 per share. The $8 billion deal will help CVS build on its aspirations to delve deeper into the healthcare industry. Signify offers virtual and in-person home...
July's Job Openings and Labor Turnover Survey (JOLTS) showed the total number of open job positions sat at 11.24 million, almost one million more openings than was expected and 200,000 more than June’s number of available jobs. JOLTS is compiled by the Bureau of Labor Statistics and the U.S....
On Friday, stocks fell sharply after Jerome Powell said that the central bank would continue its fight against inflation.  The Dow Jones Industrial Average closed Friday’s session 1,008.38 points lower to 32,283.40, marking a 3.03 percent decline. Meanwhile, the S&P 500 ended the session at 4,057.66 after losing 141.46 points...
The IRS announced last week that it would waive late filing penalties for Americans who were tardy in submitting their tax returns during the height of the Covid-19 pandemic. Almost 1.6 million American taxpayers are expected to automatically and collectively receive at least $1.2 billion in credits and refunds for...
Salesforce said that its revenue and earnings surpassed the expectations of analysts, but the customer relationship management software company issued a weak forecast for the current quarter and its fiscal 2023 outlook. The company reported adjusted earnings per share of $1.19. Refinitiv analysts had predicted $1.02 per share. Salesforce’s revenue...