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Chipotle Raises Outlook, but Says Cyclospora Hurt July Sales
The Wall Street Journal38d agoneutral
Chipotle Raises Outlook, but Says Cyclospora Hurt July Sales

Chipotle says cyclospora didn’t directly impact its lettuce, but the parasitic outbreak has still taken a bite out of its sales. The decline in sales was modest, Chief Executive Scott Boatwright said. Federal health officials have linked one outbreak of cyclospora-related illnesses to shredded iceberg lettuce that U.S. produce giant Taylor Farms sourced from Mexico.

Bloomberg38d agoneutral
Binance.US Wants to Join Prediction Markets Race With CFTC Stamp

(Bloomberg) -- Binance.US is planning to apply for a license with the Commodity Futures Trading Commission that would help it start its own prediction market, the company’s chief executive officer said at a conference on Wednesday.Most Read from BloombergWarner Bros. Deal Collapse Would Cost the Ellisons $9.8 BillionUS Intercepts Iran Attack on Bases, Puncturing Days of CalmStocks Fall as 30-Year Bond Yields Surge After Fed: Markets WrapTrump Says US Will Strike Iran Hard as War Escalates AgainA

Fed Holds but Warsh Hobbles Market
The Wall Street Journal38d agoneutral
Fed Holds but Warsh Hobbles Market

The Fed held rates steady, over the objections of three bank presidents that voted for a quarter-point rate hike. It was the first time since 2016 where three officials dissented in the same direction, reflecting growing pressure within the Fed to act on inflation. In a press conference, Chairman Kevin Warsh said that interest rates have already gone up in recent months because Treasury yields have risen.

Robinhood quarterly profit rises on strong trading activity
Reuters38d agobullish
Robinhood quarterly profit rises on strong trading activity

Robinhood Markets posted ‌a rise ‌in second-quarter profit ​on Wednesday, as volatility in the markets ‌spurred higher ⁠trading activity on its ⁠platform. The Menlo Park, California-based ​company's ​profit ​was $573 million, ‌or 62 cents per share, for the three months ended ‌June 30, ​compared ​with $386 ​million, or ‌42 cents per ​share, ​a year earlier.

Rocket Lab, SpaceX fall despite historic FAA deregulation
TheStreet38d agobearish
Rocket Lab, SpaceX fall despite historic FAA deregulation

The Federal Aviation Administration, or FAA, wants to cut the paperwork that slows down rocket launches. Rocket Lab, AST SpaceMobile, and SpaceX are exactly the companies built to benefit from that kind of change. Rocket Lab builds and flies small and medium rockets, AST SpaceMobile is building a ...

Dow Falls 1,000 Points as Tech Selling Picks Back Up
Barrons.com38d agobearish
Dow Falls 1,000 Points as Tech Selling Picks Back Up

After a brief relief rally, stock market selling accelerated again heading into the close. The Dow Jones Industrial Average sank 1,000 points, or 1.9%. The S&P 500 fell 1%. The Nasdaq dropped 0.9%. The S&P and Nasdaq both were on pace to mark intraday comebacks but lost steam as traders digested the latest updates from Federal Reserve Chairman Kevin Warsh.

Investing.com38d agobearish
AT&T and Verizon tumble as Musk’s SpaceX plots direct mobile threat

AT&T, Verizon, and T-Mobile took a beating on Wednesday as investors braced for an orbital clash with Elon Musk. Shares of AT&T (NYSE: T) and Verizon (NYSE: VZ) both fell 4%, while T-Mobile (NASDAQ: TMUS) slid 2%, following a Semafor report that SpaceX is plotting a direct assault on the U.S. wireless oligopoly. The rocket titan is actively hunting urban-grade spectrum—either by snapping up rivals or crashing next year’s federal auction—to build out dense coverage in major cities. The selloff hi

S&P 500 Back Down After Warsh Wraps Presser
Barrons.com38d agoneutral
S&P 500 Back Down After Warsh Wraps Presser

The S&P 500 and Nasdaq Composite were struggling to hold onto gains as after Fed Chairman Kevin Warsh took questions from reporters. The S&P 500 was back down 0.2% after briefly popping during Warsh’s presser. The Nasdaq was up just 0.1%.

S&P 500 Mounting Biggest Fed Day Comeback Since 2003
Barrons.com38d agoneutral
S&P 500 Mounting Biggest Fed Day Comeback Since 2003

The Nasdaq Composite is mounting its biggest comeback on a Federal Reserve decision day in more than four years. The tech-heavy index was up 0.4% as Fed Chairman Kevin Warsh took questions from reporters. It was down nearly 1.6% at its low today; if it closes higher, it would mark its biggest reversal from an intraday low to positive territory on a Fed decision day since May 4, 2022, according to Dow Jones Market Data.

S&P 500 Poised for Biggest Fed-Day Reversal Since 2003
The Wall Street Journal38d agoneutral
S&P 500 Poised for Biggest Fed-Day Reversal Since 2003

The S&P 500 is trading up around 0.1%, erasing a decline of 1.2% at today’s low. The move came as Fed Chairman Kevin Warsh takes questions from reporters. If the index closes in positive terriory, it will be the biggest reversal into positive terriotry on a Fed decision-day since 2003, according to Dow Jones Market Data.

Stocks Back Down as Warsh Begins Speaking
Barrons.com38d agoneutral
Stocks Back Down as Warsh Begins Speaking

As Federal Reserve Chairman Kevin Warsh began his press conference, stocks had erased most of their post-decision pop. The Dow Jones Industrial Average was down 775 points, or 1.5%. The S&P 500 was down 0.

Why Is HIMS Stock Down 13% Today?
Stocktwits38d agoneutral
Why Is HIMS Stock Down 13% Today?

The U.S. Federal Trade Commission on Wednesday sued the telehealth company over allegations it shared sensitive user health data with advertisers.

Bond Yields Shoot Lower on Fed Decision
Barrons.com38d agoneutral
Bond Yields Shoot Lower on Fed Decision

The bond market got a bit of relief after the Fed left short-term rates steady again. Yields on two-year Treasuries fell by as much as four basis points after Wednesday's Fed decision to 4.252%, compared with the previous close. Yields had been higher most of the day leading up to the interest-rate announcement.

Fed Keeps Interest Rates Unchanged for 5th Straight Meeting
Barrons.com38d agoneutral
Fed Keeps Interest Rates Unchanged for 5th Straight Meeting

The Federal Reserve opted to keep short-term interest rates steady again on Wednesday. At the conclusion of a two-day policy meeting, the Federal Open Market Committee voted to keep its target for the federal-funds rate at 3.5% to 3.75% for the fifth straight meeting. Ahead of the announcement, the interest-rate futures market had the odds at 71% that officials would keep rates unchanged.