business news

Convertible sales fall in U.S. amid popularity of EVs, SUVs

2024 Ford MustangSource: FordConvertibles — once a sign of open-air freedom, road trips and summer adventures — are fading away as the auto industry shifts to all-electric cars and more rugged sport utility vehicles.Sales of traditional drop-tops such as the Chevrolet Camaro and Ford Mustang, as well as roadsters such as the Mazda Miata, have …

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U.S. fiscal policy is undermining the Fed’s efforts to fight inflation

Inflation remains the top issue on investors’ minds, with many trying to determine when the relentless rise in prices will stop and whether the Federal Reserve’s aggressive interest rate hikes to try to halt the spiral will engineer a so-called soft-landing for the economy — or, instead, send us into a deep recession. Indeed, your …

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Trump merger partner Digital World falls to about $16 after hitting $97 in early 2022

The Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022.Dado Ruvic | ReutersShares of Digital World Acquisition Corp. fell this week as the company missed a key deadline to hold on to about $1 billion in …

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Costco isn’t raising membership fees after earnings beat expectations

Shoppers wait in a check-out line at a Costco wholesale store in Orlando, Florida.Paul Hennessy | Sopa Images | Lightrocket | Getty ImagesCostco is still holding off on raising its membership fees after reporting fiscal fourth-quarter results that beat expectations.The retailer typically raises fees around every five years, but hasn’t said when it will do …

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Buy these ‘free cash flow favorites’ as the S&P 500 prepares to test June lows

As investors prepare for equities to possibly retest their lows of the year, Evercore ISI has lowered its target on the S & P 500 and said traders should look to buy shares of companies with strong cash flow. Markets have tumbled this week on fears the Federal Reserve’s commitment to aggressive rate hikes through …

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European stocks slide 2.8% after weak euro zone data, new UK economic plan

European stocks were sharply lower on Friday, as investors digested a raft of central bank decisions and a new economic plan from the U.K.The Stoxx 600 was down 2.8% in early afternoon trading, with all sectors and major bourses trading in the red.Oil and gas stocks and basic resources were the biggest fallers, both down …

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FedEx, Costco, Boeing and more

Check out the companies making headlines before the bell:FedEx (FDX) – FedEx remains on watch this morning after announcing a 6.9% increase in shipping rates and plans to cut another $4 billion in annual costs. FedEx fell 3.2% in the premarket.Costco (COST) – Costco lost 3.3% in the premarket despite reporting better-than-expected profit and sales …

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Credit Suisse says buy stocks with this characteristic popularized by Warren Buffett

Credit Suisse is recommending stocks with a characteristic favored by Warren Buffett for investors navigating growing risk in equity markets. The firm expects companies with “economic moats” could help investors shield their portfolios from increasing economic uncertainty. It’s a term popularized by the legendary investor that refers to a company’s ability to maintain competitive advantages …

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