US stocks were trading higher Friday afternoon, shaking off earlier weakness that came after a disappointing gauge of manufacturing activity underlined fears that aggressive monetary tightening by the Federal Reserve could lead to a sharp slowdown. How are stocks trading? The Dow Jones Industrial Average DJIA, + 1.05% was up almost 330 points, or 1.1%…
If you’re a former jet-setter who hasn’t taken a business trip in years, continue to hang in there. Business travel dropped in 2020 and 2021, and it’s still not back. US hotel business travel revenue for 2022 is expected to be 23% below pre-pandemic levels, according to an April report from the American Hotel &…
Read More “Do you miss business trips? Here’s when the industry is expected to recover.” »
Nike Inc. is looking down at the heel, according to Seaport Research Partners, which downgraded the athletic giant to neutral from buy heading into fiscal fourth-quarter earnings, scheduled to be announced on June 27. “We do not believe an above-normal premium valuation is currently justified for three main reasons,” wrote Mitch Kummetz, senior analyst at…
US companies are warning of earnings misses at a historically high rate and there are signs that the pace could accelerate, but Wall Street analysts don’t seem to be listening too closely, yet. The downbeat outlooks for the current quarter, as inflation and continued supply-chain challenges lead to slowing demand, muddied what has been a…
Read More “Profit warnings kicked into high gear, and there’s still no slowdown in sight” »
US stocks closed higher Tuesday, picking up steam late afternoon and shaking off early weakness after a profit warning from retailing giant Target Corp. reinforced worries over the retail sector. All three major stock benchmarks booked solid gains as the 10-year Treasury yield hovered near 3%. How did stock indexes perform? The Dow Jones Industrial…
