The Fed will have to keep supporting the economy as the recovery from the pandemic „is going to be a slow one,“ a top official at the central bank said.
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Stocks making the biggest moves in the premarket: Coca-Cola, Big Lots, Gap, Workday & more
The stocks making the biggest moves in premarket trading include Coca-Cola, Big Lots, Gap, Workday, and more.
S&P 500’s stunning summer rally points to best August since 1986
It sure looks like the market is endorsing an economic rebound.
Next up for the Federal Reserve: Convincing the markets it can do what it says it will do
While markets rallied on the sentiment that the new policy would keep short-term rates anchored near zero well into the future, there also was plenty of skepticism that the Fed would be able to reach its goal.
Workday stock surges as earnings top estimates; company promotes Chano Fernandez to co-CEO
Workday will have a dual CEO structure for the first time since one of its co-founders, Dave Duffield, stepped down in 2014.
Gap swings to a loss as sales drop 18%, says strong online sales softened the blow from closed stores
Gap Inc. said Thursday its total sales tumbled 18% during the latest quarter, as e-commerce revenue surged 95% from a year ago, but those gains were offset by a 48% drop in store sales during the coronavirus pandemic.
Abercrombie & Fitch shares are soaring as the retailer reports profit amid online sales boom
„As long as you can reduce fixed costs, this shift to digital can be profitable,“ Abercrombie & Fitch CFO Scott Lipesky said in a phone interview.
ForexLive European FX news wrap: Yen surges as Abe resigns, dollar languishes
Forex news from the European trading session – 28 August 2020
Headlines:
Markets:
– JPY leads, USD lags on the day
– European equities mixed; E-minis up ~0.3%
Headlines:
Markets:
– JPY leads, USD lags on the day
– European equities mixed; E-minis up ~0.3%
Fed’s Mester on stocks: Does not feel that Fed is contributing to an asset bubble
Further comments by Mester
Nuff‘ said.
Nuff‘ said.
Fed’s Mester: Economic activity is slowing in some regions
Cleveland Fed president, Loretta Mester, remarks to CNBC
– The virus is really driving things
– Businesses have tempered hiring as virus cases have been increasing
This isn’t much of anything new that the Fed has communicated since last month – similar to the minutes last week – and the point on inflation echoes from Powell yesterday.
– The virus is really driving things
– Businesses have tempered hiring as virus cases have been increasing
This isn’t much of anything new that the Fed has communicated since last month – similar to the minutes last week – and the point on inflation echoes from Powell yesterday.