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Coca-Cola asked a federal appeals court Thursday to overturn a U.S. Tax Court decision that put the company on the hook for more than $20 billion in taxes and interest, contending that the Internal Revenue Service engaged in an unfair and retroactive bait-and-switch in how it calculated Coke’s foreign profits. The IRS challenged Coke’s tax returns for 2007 through 2009, and the outcome of the case will affect the company’s payments for every year since then. Gregory Garre, arguing for the company before a three-judge panel in Miami, pointed to a 1996 Coke-IRS agreement and subsequent IRS statements that accepted the company’s method for calculating how much profit was assigned to the U.S. and how much was attributed to lower-taxed foreign countries.

(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)

Investing.com -- The International Monetary Fund said Thursday that the United States economy has maintained solid growth momentum and projected inflation would reach the Federal Reserve's 2% target by the end of 2027.

The S&P 500 index was up about 0.3%, while the Nasdaq Composite fell 0.4%.

NVIDIA (NASDAQ:NVDA) and Micron Technology (NASDAQ:MU) both posted blockbuster AI infrastructure quarters, but the market reacted in opposite directions. NVIDIA sells the compute. Micron sells the memory that keeps those GPUs fed. Comparing them now makes sense because each just told investors something different about where AI hardware spending actually lands in 2026. Blackwell Carries ... NVIDIA vs Micron: Which Stock Will The Market Reward

AI chip rally powers gains as inflation data looms.

May's Personal Consumption Expenditures (PCE) index — the Federal Reserve's preferred inflation gauge — saw inflation rise 0.4% month-over-month and 4.1% year-over-year Core PCE, which excludes food and energy prices, rose 0.3% monthly and 3.4% annually, marking the highest level since 2023. Morning Brief Host Julie Hyman is joined by Yahoo Finance Tech Editor Dan Howley and Epistrophy Capital Research chief market strategist Cory Johnson to further examine rising price trends.

Gold edged higher early on Thursday as the dollar eased, while a key U.S. inflation measure accelera

Micron's earnings report gave the Nasdaq the jumpstart it desperately needed on Thursday. The Nasdaq was up 0.9%. Micron not only reported blowout results but also gave a forecast that had Wall Street ready to pile back into the chip sector after a brief road bump.

The Federal Reserve's primary inflation gauge, the core PCE price index, showed the 12-month inflation rate hitting its highest level since October 2023, as Wall Street expected. S&P 500 futures are solidly higher early Thursday after a three-session losing streak sparked in part by the prospect for tighter monetary policy under new Fed Chairman Kevin Warsh. Rate-hike expectations have sent the U.S. dollar surging to its highest level in more than a year, even as prospects for rate hikes by other global central banks have faded with tumbling oil prices.

Bond yields dropped and stocks kept rising after the Federal Reserve’s benchmark inflation gauge matched expectations. The core personal expenditures price index, which excludes volatile food and energy prices and is watched closely by the central bank, rose at a 0.

From screen-time eyestrain to social media’s negative impact on mental health, there are plenty of reasons to get offline even as technology takes over more aspects of our lives. Off-price retailers like Ross Stores are living proof that analog can thrive in the age of e-commerce. Investors might be hesitant to invest in Ross Stores after the shares soared some 80% in the past year, but consider another double-digit number: 17%.

US equity markets were pointing higher before the opening bell Thursday as traders parse Micron Tech

Strategic federal moves to take direct equity stakes in public quantum developers cement high-performance computing as an urgent national security priority.

Inflation is up and shows no signs of stopping.

Banks could be negatively impacted as rates stay high.

FedEx's structural improvements and divestitures have it on track to reduce debt and buyback shares, boost shareholder value, and drive its stock price upward.

The carrier will prioritize returning duties first to shippers that opt in to sharing shipment and refund data with vendor partners.

Pizza chains once owned a reliable American ritual: a sit-down dinner under a red-roofed Pizza Hut or a predictable Domino’s delivery on a lazy TV night. The growing American appetite for chain pizza made Domino’s Pizza one of the best restaurant stocks to own for decades.

Inflation is rising — but U.S. consumers seem to be shrugging it off. A key measure of price growth accelerated in May as surging oil prices pushed costs higher

A modest projected decline in overall inflation for June doesn't tell the complete story.

Warsh didn't say the president's name in explaining why rates won't be lowered. But he didn't have to.

Leading cryptocurrencies retreated further on Wednesday as investors awaited the crucial inflation report for guidance on the direction of interest rate cuts. Cryptocurrency24-Hour Gains +/-Price (Recorded at 9:25 p.m. EDT)Bitcoin (CRYPTO: BTC)-3.12%$60,820.99Ethereum (CRYPTO: ETH) -2.97%$1,617.84XRP (CRYPTO: XRP) -2.81%$1.07Solana (CRYPTO: SOL) -3.07%$67.59Dogecoin (CRYPTO: DOGE) -3.47%$0.07620 Crypto Bloodbath Continues Bitcoin fell below $60,000 for the first time since October 24, as trading

Demand for memory chips is pushing prices higher. Will AI’s promise of increased productivity come in time to temper that inflation?

Major U.S. banks increased shareholder returns after the Federal Reserve’s stress test showed the sector remains strongly capitalized and resilient under severe economic conditions.

Nasdaq jumps amid revived confidence in the AI trade, as Fed-favored inflation print keeps rate hikes in play.

Nasdaq jumps amid revived confidence in the AI trade, as Fed-favored inflation print keeps rate hikes in play.

Nasdaq jumps amid revived confidence in the AI trade, as Fed-favored inflation print keeps rate hikes in play.

<body><p>STORY: U.S. stocks ended mixed on Wednesday, with the Dow gaining just over a third of a percent, while the S&P 500 edged slightly lower and the Nasdaq lost more than four-tenths of a percent.</p><p>Investors were intensely focused on chip maker Micron Technology's results after the closing bell. The stock, which has surged more than 200% this year, climbed in extended trading on Wednesday, after Micron forecast quarterly earnings above Wall Street estimates, signaling that heavy investments in AI-related infrastructure will drive strong demand for its memory chips.</p><p>Michael Landsberg is chief investment officer at Landsberg Bennett Private Wealth Management.</p><p>"What's happened now is with AI, a lot of these chips are needed to make AI work faster and better. So the demand has really been strong across the entire sector. We think it continues. And that's really, I think, why this rally in that space has got some legs. And we think it could continue for a while."</p><p>Several tech stocks, however, slid during Wednesday's session, including chip designer Cerebras, which tumbled more than 19%. In its first report since going public, Cerebras forecast full-year profit margins would drop below first-quarter figures.&nbsp;</p><p>Concerns around debt-backed AI spending by hyperscalers and mounting fears of a more hawkish Federal Reserve have fueled a market downturn this week that has erased more than $1 trillion in market value from the Nasdaq 100.</p><p>Among the session's other stock moves, homebuilders soared after President Donald Trump canceled a planned signing of bipartisan legislation aimed at speeding up availability of affordable housing. Shares of Hovnanian Enterprises, PulteGroup and Toll Brothers all ended higher.</p><p>And shares of Hertz tumbled more than 40% after the car-rental firm said it expects second-quarter adjusted core earnings near the lower end of its forecast range and announced a proposed offering of $100 million of common stock.</p></body>

Tesla’s (TSLA) latest federal safety probe isn't a routine crash investigation. It’s a test of one of the greatest assumptions still baked into Tesla’s stock: that the company can turn driver-assistance software into a business considerably more valuable than regular car sales. For years, Tesla has ...