Month: July 2024

A key inflation gauge for the Federal Reserve showed a modest increase in June from a year earlier, potentially setting the stage for an expected interest rate cut in September. The personal consumption expenditures (PCE) price index, a key measure of inflation, rose 0.1% in June and is up 2.5% year over year, matching Dow Jones estimates, the Commerce Department reported Friday. That follows a 2.6% year-over-year increase in May, with the monthly measure unchanged. The Federal Reserve relies heavily on the PCE index to measure inflation, which remains above the central bank's long-term target of 2%. Core inflation, which…

Shares of Diageo, the renowned spirits maker behind Johnnie Walker, fell more than 10% on Tuesday after it reported its first annual sales decline since the pandemic began. By the end of the trading day, the shares had recovered some losses but still closed down 5.08%. The London-based company reported a 0.6% decline in organic net sales for the fiscal year ended June 30, attributed primarily to underperformance in Latin America and the Caribbean markets. Reported net sales fell 1.4%. Despite the overall downturn, Guinness emerged as a bright spot for Diageo. The iconic Irish stout, which has seen a…

Here are the key stocks that saw significant moves in pre-market trading: McDonald's (MCD): The fast food giant saw its shares rise 2% before the market opened, led by solid quarterly earnings that beat analysts' expectations. Tesla (TSLA): Tesla shares jumped 3.5% in premarket trading after announcing record vehicle deliveries for the quarter, beating Wall Street projections. Stellantis (STLA): Stellantis shares rose 1.8% after the company reported better-than-expected sales figures, boosted by strong demand for electric vehicles. Other noteworthy movers: Apple (AAPL): Apple shares rose 1.2% after analysts raised their price target, citing robust iPhone sales. Amazon (AMZN): Amazon shares…

After the close, several stocks experienced significant movements, catching the attention of investors and market analysts. Among the most notable were Chesapeake Energy, F5, and Lattice Semiconductor, among others. Here, we delve into the details of these post-market swings and what they could mean for the future. Chesapeake Energy Chesapeake Energy saw a substantial increase in its stock price after hours. The surge can be attributed to the company's recent announcement of better-than-expected quarterly earnings. Chesapeake's strong performance in its natural gas and oil segments has reassured investors about its long-term growth potential. Analysts have revised their price targets upward,…