AmEx profit beats estimates as card spending rebounds
By Mehnaz Yasmin and Niket Nishant April 22 (Reuters) – American Express Co (AXP.N) on Friday topped first-quarter profit estimates as card spending rebounded from last year, dwarfing a jump in costs due to higher reward payouts. Expenses rose 34% to $9.06 billion on higher customer engagement costs, the company said, sending shares down nearly 2% in morning trading. […]
Amazon launches $1 billion fund to invest in warehouse technologies
POINTS Amazon on Thursday launched a $1 billion fund to invest in start-ups developing supply chain, logistics and fulfillment technologies. The first round of investments is going to a batch of companies working on technologies that can speed up deliveries and improve the safety of workers in its warehouses. In this article AMZN-67.95 (-2.21%) Robots transport […]
U.S. Consumers Are Holding Up Well as Rates Rise, Bank of America’s Moynihan Says
Bank sees strength in consumer spending and housing market ‘There is a lot of dry powder on the consumer side,’ CEO says BofA’s Moynihan: ‘A Lot of Dry Powder’ on Consumer Side By Katherine Doherty The U.S. consumer is holding up well as inflation rises and interest rates climb, Bank of America Corp. Chief Executive Officer Brian […]
Apple, Tesla, and 98 Other Growth Stocks That Are Getting Their Groove Back
Jacob Sonenshine -Barrons Updated March 24, 2022 8:16 am ET / Original March 24, 2022 2:30 am ET Apple stock fell 18% from Jan. 3 to March 14. Growth stocks like Apple and Tesla have had quite the time these past four months–retreating, then roaring. Now, they look like they are finding their footing as the economy looks like […]
Despite inflation, consumers may be stronger than investors expect
PUBLISHED THU, APR 14 20222:02 PM EDT | UPDATED THU, APR 14 20224:38 PM EDT CNBC Patti Domm @IN/PATTI-DOMM-9224884/ March retail sales were slightly weaker than expected, but the consumer may actually be stronger than the number suggests. Retail sales rose 0.5%, slightly below the 0.6% expected by economists surveyed by Dow Jones. Retail sales […]
Biden administration to resume leasing for oil and gas drilling on federal lands
PUBLISHED FRI, APR 15 20226:09 PM EDT | UPDATED FRI, APR 15 20228:23 PM EDT NBC NEWS | Josh Lederman and Zoë Richards The Biden administration said it will resume selling leases to drill for oil and gas on federal lands starting next week, but with a major reduction in the number of acres offered and an […]
A Recession in the US is still unlikely despite growth concerns, says the head of BlackRock’s $2.2 trillion iShares Investment Strategy Americas Unit
Higher inflation, weaker growth, and the Russia-Ukraine war have all materialized as market risks. BlackRock’s Gargi Chaudhuri shares her investing outlook and why the US should dodge a recession. Chaudhuri named five investments to make to hedge a portfolio against inflation. Late last year, BlackRock’s Gargi Chaudhuri, who heads up the firm’s iShares Investment Strategy […]
Goldman names four ‘oversold’ megatrends to buy into right now
PUBLISHED MON, APR 4 20227:54 PM EDTUPDATED TUE, APR 5 20228:20 AM EDT Elliot Smith @ELLIOTSMITHCNBC Goldman Sachs Asset Management has outlined four market “megatrends” which offer a “hugely attractive entry point” for investors. Stock markets around the world endured a volatile first quarter as the prospect of higher interest rates, soaring inflation and Russia’s […]
Amazon is secretly testing its drone delivery program
Amazon will ask some people in California and Texas to test its Prime Air drone delivery, documents show. Amazon plans to ultimately open 145 drone launchpads and deliver 500 million packages by drone a year. Prime Air was announced in 2013 but has met delays and roadblocks, Insider previously reported. Amazon this year aims to recruit […]
JPMorgan’s Kolanovic says U.S. recession is unlikely, even as bond market flashes warning signals
PUBLISHED MON, MAR 28 20221:06 PM EDTUPDATED 4 HOURS AGO Crystal Mercedes | CNBC JPMorgan chief global markets strategist Marko Kolanovic said Monday that a recession is not likely to occur in the short term, despite warning signals from the bond market. The 5-year Treasury yield on Monday briefly rose above that of the longer-dated […]