Biden invokes Defense Production Act to boost baby formula manufacturing to ease shortage
The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. Jeff Kowalsky | AFP | Getty Images President Joe Biden on Wednesday invoked the Defense Production Act to increase baby formula manufacturing to ease a nationwide shortage caused by the closure of a key plant in Michigan. Biden is requiring suppliers to direct ingredients […]
House Democrats to hold hearings, introduce legislation
Rep. Rosa DeLauro, D-Conn., left, the House Appropriations Committee chair, and Speaker of the House Nancy Pelosi, D-Calif., confer during a news conference on the House Democrats $28 million emergency spending bill to address the shortage of infant formula in the United States, at the Capitol in Washington, Tuesday, May 17, 2022. J. Scott Applewhite […]
Stock futures are flat after S&P, Nasdaq start the week in the red
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 13, 2022. Brendan Mcdermid | Reuters U.S. stock index futures were flat during overnight trading on Monday, following a volatile session that saw the S&P 500 and Nasdaq Composite continue their march lower. Futures contracts tied to […]
Stock futures rise ahead of a big week of retail earnings
Traders on the floor of the NYSE, May 6, 2022. Source: NYSE Stock futures were higher Sunday evening after a week of steep losses that ended on a high note, and ahead of a big earnings week for retailers. Futures tied to the Dow Jones Industrial Average rose 89 points, or 0.3%, while S&P 500 […]
At least 10 dead in mass shooting at a Buffalo, N.Y., supermarket
A gunman wearing military-style clothing and body armor opened fire with a rifle at a supermarket in Buffalo, New York, killing at least 10 people before being taken into custody Saturday afternoon, law enforcement officials told The Associated Press. Details on the number of additional people shot at the Tops Friendly Market and their conditions […]
‘U.S. consumer is alive and well’ — Affirm CEO says market turbulence has no impact on business
Affirm Holdings Chairman and CEO Max Levchin told CNBC that despite the market’s poor performance this year, U.S. consumers – and Affirm’s customers – are spending healthily. “The U.S. consumer is alive and well. They’re shopping, they’re buying, they’re paying their loans, at least to Affirm quite well. Generally speaking, things are going according to […]
Stock futures fall slightly with S&P 500 teetering on edge of a bear market
Stock futures dipped on Thursday evening as investors geared up for the S&P 500 to potentially slide into official bear market territory. Futures tied to the Dow Jones Industrial Average shed 68 points, or 0.2%. S&P 500 futures lost 0.2% and Nasdaq-100 futures fell 0.3%. On Wednesday, the S&P 500 and Dow bounced off their […]
Stock futures rise slightly following hot inflation report
Stock futures were slightly higher Wednesday evening after the latest CPI data showed inflation is still running hot. Futures tied to the Dow Jones Industrial Average added 45 points, or 0.1. S&P 500 futures and Nasdaq 100 futures each added 0.1% also. Shares of Bumble and Rivian jumped 10% and 7%, respectively, in extended trading […]
Stock futures are little changed ahead of key inflation reading
Stock futures were little changed in overnight trading Tuesday ahead of a key inflation reading. Futures on the Dow Jones Industrial Average shed about 15 points. S&P 500 futures were marginally lower and Nasdaq 100 futures were near flat. The moves come after the Dow fell for a fourth consecutive day Tuesday in a volatile […]
Meta’s first store aims to lure consumers to the metaverse
Katie Contreras and Chris Nguyen, experience experts, stand at the Customer Onboarding station for the Quest Demo space during a preview of the inaugural physical store of Facebook-owner Meta Platforms Inc in Burlingame, California, May 4, 2022. Brittany Hosea-Small | Reuters Meta is taking the next step in its evolution away from being an ad-supported […]
