U.S. stocks opened sharply lower Thursday, with the Dow Jones Industrial Average falling more than 500 points, after the consumer-price index showed that inflation in September was hotter than forecast. The Dow DJIA, -0.95% was down 1.7% soon after the opening bell, while the S&P 500 SPX, -1.34% fell about 2.2% and the Nasdaq Composite … Read more
The Social Security Administration on Thursday morning announced the highest cost-of-living adjustment (COLA) to benefits since the early 1980s: 8.7%. The reveal comes as inflation has risen to levels not seen in four decades. The annual raise is designed to help preserve the purchasing power of the roughly 66 million Social Security recipients, including 51 … Read more
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg A closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Reserve to raise interest rates even more aggressively to stamp out … Read more
Dow Jones futures dived 500 points Thursday on hot inflation data from the consumer price index. Third-quarter earnings season heats up as Dow Jones stock Walgreens jumped on better-than-expected earnings and sales results. X The Labor Department’s Consumer Price Index came out Thursday morning at 8:30 a.m. ET. Consumer prices rose 0.4% in September vs. … Read more
Delta Air Lines stock climbed in premarket trading Thursday as the airline provided upbeat guidance for the final three months of the year on improving corporate travel demand. The carrier said corporate travel was improving, particularly since Labor Day, and that domestic and international demand remained robust.
Saudi Arabia’s ministry of foreign affairs put out a rare statement on Thursday defending the Organization of the Petroleum Exporting Countries’ decision last week to cut production, and suggested the White House was acting due to its own political motives. Last week, the OPEC+ grouping that also includes Russia agreed to cut their supply target … Read more
Almost half of baby boomers and more than one-third of Generation X expect to work past age 70 or do not plan to retire at all, highlighting the need for backup plans in case life’s unexpected events get in the way of such goals. According to a study by nonprofit Transamerica Center for Retirement Studies in collaboration … Read more
Shares of BlackRock Inc. BLK, -0.01% was little changed in premarket trading Thursday, after the investment management giant reported third-quarter profit and revenue that fell from a year ago but beat expectations, as strong bond inflows continued while equities declined. Net income declined to $1.41 billion, or $9.25 a share, from $1.68 billion, or $10.89 … Read more
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, October 13, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Leak Herald Finance. Follow him on Twitter @SPYJared. Read this and more … Read more
U.S. stock futures advanced Thursday ahead of the week’s big event, the release of inflation data. What’s happening Futures on the Dow Jones Industrial Average YM00, +0.37% rose 127 points, or 0.4%, to 29388. Futures on the S&P 500 ES00, +0.38% gained 14.75 points, or 0.4%, to 3603. Futures on the Nasdaq 100 NQ00, +0.14% … Read more