U.S. stocks rebounded on Thursday from a steep selloff in the prior session, boosted by technology shares, as investors shrugged off a cautious outlook from the Federal Reserve on interest rate cuts and focused on corporate earnings.
U.S. manufacturing activity slowed to a near three-year low in July and hiring at factories shifted into lower gear, suggesting a further loss of momentum in economic growth early in the third quarter as trade tensions between Washington and Beijing persist.
U.S. and Chinese negotiating teams will be in intensive contact to prepare “good groundwork” for trade talks in September, the commerce ministry said on Thursday, as Washington confirmed China’s first private purchase of soybeans since a tariff war broke out more than a year ago.
UniCredit has found no evidence so far of any customer data having been accessed or compromised in relation to a major data breach at Capital One Financial Corp , the bank said in a memo to staff on Thursday.
The U.S. economy grew at a 2.2% annualized rate in the third quarter based on the latest data on national manufacturing activity and construction spending, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.
Health insurer Cigna Corp raised its 2019 profit forecast on Thursday, helped by last year’s acquisition of pharmacy benefit manager Express Scripts, but medical costs in the second quarter were higher than expected and its shares fell slightly.
Kellogg Co beat Wall Street expectations for quarterly sales and profit on Thursday, and the food maker’s shares rose sharply as investments in marketing and product development drove higher demand for snacks, frozen waffles and meatless burgers in North America.
The U.S. Department of Agriculture on Thursday confirmed a private Chinese company bought 68,000 tonnes of soybeans in the week ended July 25, the first soybean purchase since Beijing offered to exempt five crushers from import tariffs imposed more than a year ago as part of a U.S.-China trade dispute.
The dollar charged to its highest in more than two years on Thursday, trampling almost every market in its way, after the Federal Reserve dampened hopes for a lengthy run of U.S. interest rate cuts.
U.S. stocks bounced back on Thursday from a steep selloff in the prior session, boosted by technology shares as investors shrugged off a cautious outlook from the Federal Reserve on interest rate cuts and focused on corporate earnings.
Oil dropped more than 2% on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes that a string of interest rate cuts would be in the offing and as record U.S. output helped keep the market well supplied.
Yum Brands Inc beat expectations for quarterly profit on Thursday, as menu refreshes and a delivery push drove better-than-expected growth at all of the restaurant operator’s chains, including Pizza Hut, sending its shares to a record high.
General Motors Co is open to working with other automakers on the development of electric vehicles, Chief Executive Mary Barra said on Thursday.
Financial data firm Refinitiv’s $13.5 billion debt, once described as having some of the weakest-ever investor protections typical of the frothy peak of the credit cycle, is being rehabilitated by its $27 billion merger with the London Stock Exchange.
Bombardier Inc lowered its full-year earnings and cash flow forecasts and reported a quarterly loss on Thursday, as it faces challenges in its important rail division, sending shares of the Canadian train and plane maker down 18%.
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