"We are not reducing our production in any meaningful way, recession or not recession," he said. Tesla posted earnings that came in above expectations, but its stock slid after hours because revenue missed projections. Signs of disinflation have emerged even as investors fear the Federal Reserve Chair Powell will keep battling inflation through aggressive rate hikes that have hurt both stocks and bonds, according to a Capital Economics n… Investors DotBig often view real estate investment trusts as a defensive asset in a sinking stock market, but REITS are struggling in 2022 as investors look for places to hide in a year market rocked by soaring inflation and risi… Speaking of EVs, President Joe Biden on Wednesday awarded $2.8 billion in grants to boost battery production for the vehicles. The funds, which come from Biden’s $1 trillion infrastructure law, will go to companies in at least 12 states.

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Gas hit an all-time high of $5.016 on June 14, approximately 18 weeks ago. Tesla CEO and the world’s richest person is the latest to take on the Federal Reserve over their handling of inflation NFLX stock and the looming recession. Revenue this quarter will grow by more than 20% while pre-tax margins will expand 200 basis points compared with the same period in 2021, Schlumberger said.

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Biden in August announced $10,000 in federal student debt cancellation for those with incomes below $125,000 a year, or households that make less than $250,000 a year. Those who received federal Pell Grants https://dotbig.com/ to attend college are eligible for an additional $10,000 in forgiveness. The consortium of U.S. freight railroads is rejecting demands to modify a tentative deal brokered by the Biden administration.

WTI crude futures were marked 16 cents higher in late afternoon trading at $85.71 per barrel, while Brent contracts fell 16 cents to $92.57 per barrel. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. FedEx, Ford, AMD and Nike were among DotBig the worst performers for the month in the benchmark index. Hargreaves Lansdown is not responsible for an article’s content and its accuracy. — Sign up nowfor the CNBC Investing Club to follow Jim Cramer’s every stock move. Follow the broader market action like a pro on CNBC Pro.

stock market news today

Schlumberger on Friday reported its strongest quarterly profit since 2015 with results that topped Wall Street forecasts on oilfield drilling and equipment sales that surged on high oil and gas prices. The federal budget deficit totaled $1.38 trillion this year. Biden intends to speak about the figures on Friday as a sign that he has been responsible with federal finances. Despite the monthly increase, over the fiscal year that ended last month, the federal budget deficit fell $1.4 trillion. It roughly halved in size because of the end of spending tied to coronavirus pandemic relief and higher tax revenues as more Americans found jobs. ECONOMY US budget deficit cut in half to $1.38T as pandemic spending slows down The U.S. federal budget shortfall was cleaved in half in fiscal year 2022, the Treasury Department reported on Friday, as COVID-19-related spending dried up. Apple Inc’s vice president for industrial design, Evans Hankey, is leaving the company, Bloomberg News reported on Friday, citing people with knowledge of the matter.

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However, Musk, who is also CEO of electric car company Tesla, he said Saturday that SpaceX will keep funding the Ukrainian government "for free" even though Starlink is "still losing money." News Corp is a global, diversified media and information services company netflix stock price focused on creating and distributing authoritative and engaging content and other products and services. Billionaire Elon Musk reportedly said he had plans to cut Twitter’s workforce by almost 75% should his deal to buy the social media platform close.

  • U.S. stock-index futures fell late Sunday, suggesting losses Monday, as the projected victory of a far-right party in Italy added to uncertainties about rising interest rates and recession fears.
  • A selloff for the ages in the bond market has yields flirting with crisis levels.
  • Apple Inc’s vice president for industrial design, Evans Hankey, is leaving the company, Bloomberg News reported on Friday, citing people with knowledge of the matter.
  • "This is much higher than our assumption of $50 per shot and even assuming $80 per shot net price in high-income countries, we see $2 per share upside to our estimates" from the new prices, he wrote in a research note.
  • U.S. stock indexes traded higher in the final hour of trading on Wednesday with Dow climbing over 550 points and S&P 500 attempting to snap its longest losing streak since February 2020.

Adjusted earnings per share came in at $1.32 per share. Outside the United States, Pfizer said it already has contracts with governments in many developed markets that extend through 2023 with prices that have already been set. Workers will be able to contribute more money in 2023 to their 401 plans. The IRS raised the contribution limit for employees who participate in 401, DotBig 403, most 457 plans, and the federal government’s Thrift Savings Plan is increased to $22,500, up from $20,500. Hankey’s departure was announced inside the Cupertino, California-based firm this week, with Hankey telling colleagues that she will remain at Apple for the next six months, according to the report, which added that a replacement has not been named so far.

Mortgage demand falls to the lowest level in 22 years amid rising rates, slowing home sales

In Europe, stocks moved higher by the close of trading, with London’s FTSE 100 up 0.27% while the region-wide Stoxx 600 closed 0.26% higher in Frankfurt. The S&P 500 ended down 0.80%, while the Dow Jones Industrial Average fell 91 points, or 0.30%, to 30,322. The Dow Jones Industrial Average on Monday closes in a bear market, joining the S&P https://dotbig.com/ 500. U.S. stock indexes traded higher in the final hour of trading on Wednesday with Dow climbing over 550 points and S&P 500 attempting to snap its longest losing streak since February 2020. Musk offered to buy Twitter in April and sought to end the acquisition a few months later, resulting in a legal battle between him and the company.

US stocks move lower, investors weigh earnings, Fed moves

America’s housing shortage is a key reason why the benchmark 30-year mortgage rate likely will top 7%, according strategists at BofA stock market news today Global. CarMax disappointed investors, citing "vehicle affordability challenges," while Tesla’s shares sank ahead of its AI Day.

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DoubleLine’s Jeffrey Gundlach, known as the "Bond king," tweeted that he thinks it could happen between now and the end of the year. U.S. stocks drifted as investors wind down a choppy trading week after roughly 20% of S&P 500 companiesreported quarterly earnings. Snap shares plunged by double digits after a poor revenue https://dotbig.com/markets/stocks/NFLX/ update. In commodities, oil inched higher to the $85 per barrel level. "OPEC’s move to cut production by two million barrels per day could be a turning point for the oil market. With the risk of Russian supply disruptions due to the price cap, it could tighten the market," said ANZ Research in a Friday note.

Dow surges 748 points as US stocks rally on hopes of less aggressive Fed rate hikes

Moreover, Wall Street is now fully into forecasting 2023. The third quarter 2022 is in the past, and the high-GDP-growth fourth quarter is here. That opens up 2023 to broader analysis and forecasting. The CBOE group’s key volatility gauge eased 1% to30.47 points, suggesting daily swings of around 70 points over the next 30 days for the biggest U.S. benchmark. Stocks are looking wobbly as the Federal Reserve prepares to deliver what’s expected to be another jumbo rate hike. Investors focus on this Fed number as stock market threatens test of June lows. Here’s what history shows about past bear markets hitting new lows from there, according to Bespoke.

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