U.S. manufacturing shows resilience despite rising interest rates
By Lucia Mutikani WASHINGTON (Reuters) - New orders for U.S.-made capital goods and shipments increased solidly in May, pointing to sustained strength in business spending on equipment in the second quarter, but rising interest rates and tighter financial conditions...
Bruised biotech investors focus on firms with more advanced products
By Leroy Leo and Mrinalika Roy (Reuters) - Biotech investors nursing losses from stock price falls are now focusing on firms which are closer to getting their drugs to market, rather than those at the early stages of development. This waning risk appetite, six...
U.S. new home sales rebound in May; consumer sentiment at record low
By Lucia Mutikani WASHINGTON (Reuters) - Sales of new U.S. single-family homes unexpectedly rose in May, but the rebound is likely to be temporary as home prices continue to increase and the average contract rate on a 30-year fixed-rate mortgage approaches 6%,...
U.S. congressional panel calls for crackdown after ‘meme-stock’ saga
By Katanga Johnson and John McCrank WASHINGTON (Reuters) -Wall Street regulators must do more to address market risks highlighted by the "meme-stock" trading frenzy of January 2021 that pitted individual GameStop Corp investors against powerful hedge funds, a...
Reading the market tea-leaves for global recession risks
By Dhara Ranasinghe, Sujata Rao and Yoruk Bahceli LONDON (Reuters) - The fastest rate-hiking cycle in decades and inflation nearing double-digits has got investors scouring market moves and data to gauge whether the world economy is headed for recession. Business...
Toyota, Subaru shares drop on “embarrassing” recalls of first EVs
By Maki Shiraki and Satoshi Sugiyama TOKYO (Reuters) - Toyota Motor shares slipped after it recalled some of its first mass-made all-electric cars, launched two months ago, because of a risk of wheels coming loose, a setback to its ambitions to electrify its model...
U.S. complaints against airlines soar as on-time arrivals fall
By David Shepardson WASHINGTON (Reuters) -U.S. consumers lodged more than quadruple the number of complaints against U.S. airlines in April compared with pre-pandemic levels as on-time arrivals fell, according to a report Thursday. The U.S. Department of...
Three Recession-Proof Trades to Consider in 2022
With markets spooked by recession fears, pay attention to pharmaceutical stocks. For one, the sector is still one of the safest, most recession-proof investments around. Two, an aging population is demanding more treatments in an effort to live longer lives. As this...
Schumer will put legislation to cut insulin costs on Senate floor ‘very soon’
By Kanishka Singh WASHINGTON (Reuters) -U.S. Senate Majority Leader Chuck Schumer on Wednesday said he will put bipartisan legislation on lowering insulin costs to a vote on the Senate floor "very soon." "The cost of insulin has skyrocketed in recent years and the...
Wall Street gains over 2% in broad rebound
By Lewis Krauskopf, Devik Jain and Anisha Sircar (Reuters) - Wall Street's major indexes jumped over 2% on Tuesday as investors scooped up shares of megacap growth and energy companies after the stock market swooned last week on worries over a global economic...
Extreme heat to test U.S. Midwest power grid this week
(Reuters) - The power grid operator in the Central United States said on Tuesday that it started to take some steps to make sure utilities are ready to keep the lights on as consumers crank up their air conditioners during an extreme heat wave this week. Midcontinent...
Top 3 Ways to Trade a Potential Bitcoin Bounce
The pullback in Bitcoin is overdone. Not only is it over-extended on RSI, MACD, and Williams’ %R, it appears to have caught – and is holding double bottom support dating back to late 2021. Even Jurrien Timmer, director of global macro of Fidelity, has argued that...
Biden says decision on pause on federal gasoline tax could come by end of week
By Nandita Bose and Kanishka Singh REHOBOTH BEACH, Del. (Reuters) -U.S. President Joe Biden said on Monday that a decision on whether to pause a federal gasoline tax could come by the end of this week, as the United States struggles to tackle soaring gasoline prices...
Three Solid Ways to Trade the Short Side of Oil
Oil prices are pulling back. Last trading at $110.40, here’s hoping it drops even more. That’s happening as interest rate hikes fuel worries about a recession, and because U.S. crude production jumped by 100,000 barrels per day last week to 12 million bpd. In...
Sony, Honda sign JV to sell electric cars by 2025
(Reuters) - Japan's Sony and Honda Motor on Thursday officially agreed to an equally owned joint venture that will start selling electric cars in 2025. Honda, like bigger rival Toyota Motor, has been slower to shift to electric vehicles (EV) than global automakers and...
Coke bottler Coca-Cola HBC depleting stock in Russia
By Jessica DiNapoli NEW YORK (Reuters) -Bottler Coca-Cola HBC AG and its existing customers in Russia are "in the process of depleting stock," Coca-Cola Co said in a statement, after Reuters reported that Coke was for sale at a McDonald's Corp franchise in St....
Top Recession-Resistant Stocks to Consider
There’s a good deal of panic out there. Inflation is out of control. The Federal Reserve hiked interest rates by 0.75%, with a likely need for more. Traders are panicking. Markets are falling. And no one knows what comes next. While it’s easy to panic, don’t....
Wall Street rallies to close higher after Fed statement
By Chuck Mikolajczak NEW YORK (Reuters) - The S&P 500 rallied on Wednesday to snap a five-session losing skid after a policy announcement by the Federal Reserve that raised interest rates to market expectations as the central bank seeks to fight rising inflation...
Global tech on edge as WTO weighs e-commerce tariffs
By Philip Blenkinsop and Emma Farge GENEVA (Reuters) -The global technology industry is pressing the World Trade Organization to exempt data flows from cross-border tariffs, saying a failure to do so would undermine a global recovery already threatened by spiralling...
Amazon picks California town as first to receive drone deliveries
(Reuters) - Amazon.com Inc said that customers in Lockeford, California would be among the first to receive drone deliveries later this year. This would be the first time Amazon makes drone deliveries to the public, and it follows several pilots and mission-specific...