Sean Gallup/Getty Images News Defense contractors on Wednesday gave up their earlier gains after the Federal Reserve raised interest rates by 0.75 percentage point for the third straight time and indicated more hikes are possible to curb inflation. Companies such as Lockheed Martin (LMT) and Northrop Grumman (NOC) had risen after Russian President Vladimir Putin … Read more
Well, good luck with that. Consummate New York Mets fan Jerry Seinfeld is blaming Timmy Trumpet’s live performance of the song “Narco” at Citi Field last week for the Mets recent swoon. The team had a 10.5 game lead in its division in June. As of tonight, they’re now just a half-game up on the … Read more
Federal Reserve Chairman Jerome Powell’s brief, but blunt Jackson Hole speech on Friday sparked a sharp selloff in stocks and other financial assets as Wall Street reacted to his vow to bring inflation back down to the central bank’s 2% goal. The S&P 500 SPX, -3.37% finished 141.46 points lower, or 3.4%, to 4,057.74. The … Read more
Showbiz shares followed broader market lower Friday after Federal Reserve chair Jerome Powell indicated the central bank will continue aggressively raising interest rates to fight inflation. “Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance,” Powell said at a keynote speech today at … Read more
(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. is following an age-old adage: Buy the dip. Most Read from Bloomberg The conglomerate was a net buyer of equities in the quarter, reporting $45.2 billion in purchases after subtracting sales in second-quarter results released Saturday. It bought a total of $41.4 billion in shares in the first … Read more