Mizuho says Sunoco is a buy as its business model will prove resilient over the long term

Mizuho says Sunoco is a buy as its business model will prove resilient over the long term

While oil stocks have been the best performers in 2022, Sunoco has struggled. The stock is down 11% this year, but Mizuho has confidence in it. On Thursday, the firm upgraded Sunoco shares to a buy from neutral, citing the company’s business model, balance sheet strength and compelling distribution yield. In the long term, the … Read more

GOP draft bill would tighten rules for finance firms using customer information

Rep. Patrick McHenry, a Republican of North Carolina and ranking member of the House Financial Services Committee, speaks during a hearing in Washington, DC Andrew Harrer | Bloomberg | Getty Images A new draft bill from House Financial Services Ranking Member Patrick McHenry, RN.C., lays the groundwork for how the GOP will tackle financial data … Read more

Average Long-Term US Mortgage Rates Inch up to 5.81% | Business News

By MATT OTT, AP Business Writer WASHINGTON (AP) – Average long-term US mortgage rates inched up this week following last week’s mammoth jump, the biggest in 35 years. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.81% this week, from last week’s 5.78%. Last week’s average – which jumped more … Read more

US weekly jobless claims grind lower amid tight labor market

People walk past a “We’re Hiring” sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022. Olivier Douliery | AFP | Getty Images The number of Americans filing new claims for unemployment benefits edged down last week as labor market conditions remained tight, although some slowing is emerging. Initial claims for state … Read more

Air France-KLM Boss Warns Travelers: Go to the Airport Early | Business News

PARIS (AP) – The chief of airline alliance Air France-KLM said Thursday that it will take weeks or months to get new security staff in place to lighten pressure on the Amsterdam airport, which has seen flight cancellations, damaging delays and big travel headaches. as global air travel rebounds from the COVID-19 pandemic. Air France-KLM … Read more

Here’s what China’s Alibaba and Kuaishou say about the economy

Across five major e-commerce platforms’ GMV, Alibaba’s market share fell by 6% in the first quarter versus the fourth, according to Bernstein analysis. Str | Afp | Getty Images BEIJING – Alibaba was once the poster child for investing in modern China. Now the e-commerce market that fueled its growth is slowing, while new players … Read more

6 things need to happen for a ‘bull market within a bear market’

CNBC’s Jim Cramer on Wednesday told investors that there are several things that need to happen for the market to have a “bull market within a bear market” situation. “We’re going to have rolling bottoms just like we had rolling tops. As long as you know how to identify the signs, you’ll be able to … Read more

Amazon CEO acknowledges loss of Black leaders in internal memo

Amazon CEO Andy Jassy speaks during the GeekWire Summit in Seattle on Oct. 5, 2021. David Ryder Bloomberg | Getty Images Amazon CEO Andy Jassy acknowledged losing two top Black executives, who led warehouses and transportation, in a company email Tuesday night. Jassy’s email sang the executives’ praises, adding that he’s “truly sorry to see … Read more

5 things to know before the stock market opens Wednesday, June 22

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to give back much of Tuesday’s gains Traders on the floor of the NYSE, June 16, 2022. Source: NYSE US stock futures fell Wednesday, pointing to an open that would give up now of … Read more

Ford Pledges to Work With Community Near Future Factory | Business News

By ADRIAN SAINZ, Associated Press BROWNSVILLE, Tenn. (AP) – Ford Motor Co. Officials on Tuesday pledged to be good neighbors to those in rural west Tennessee who live near the automaker’s planned electric truck factory, a project expected to create thousands of jobs and change the face of the region. More than 200 people attended … Read more