In good and bad economic times, people need to buy pet food, and that’s one reason Chewy Inc.’s stock may be worth a new look. Needham analyst Anna Andreeva upgraded Chewy shares CHWY to buy from hold Monday, writing that the stock looks like a way to play defense in the current market. “The pet … Read more
Text size Federal Reserve Chairman Jerome Powell. Kevin Dietsch / Getty Images) Even bear markets get bounces. The stock market had a terrific week, and for the first time in a long time, the rally feels like it can last. The Dow Jones Industrial Average rose 5.4%, the S&P 500 gained 6.4%, and the Nasdaq … Read more
Text size David L. Nemec / New York Stock Exchange The stock market gained Thursday as Federal Reserve Chairman Jerome Powell tested before Congress for a second day. Nothing he has got scared the market — for now. The Dow Jones Industrial Average gained 195 points, or 0.6%, while the S&P 500 rose 1% and … Read more
In the face of turbulent economic times, Walt Disney Co.’s theme-park business could still see some magic. Bank of America’s Jessica Reif Ehrlich wrote Thursday that attendance at Disney DIS, -0.43% parks “remains resilient despite recent macro volatility as visitors rarely cancel trips once booked.” She added that the company move to cancel Disneyland annual … Read more
Text size People walk along Wall Street, near the New York Stock Exchange in New York. Photo by ED JONES / AFP via Getty Images The stock market couldn’t hold on to gains Wednesday, even after Federal Reserve Chairman Jerome Powell told lawmakers that a slower pace of interest rate hikes is possible. Markets are … Read more
The last time the housing market suffered a major meltdown in 2006, it took the entire US economy with it. But history never follows the exact same script twice. The weakening housing market is undoubtedly going to hurt the economy. Single-family home construction fell to a 1 million annual pace rate in May from a … Read more
Text size Traders work on the floor of the New York Stock Exchange. Spencer Platt / Getty Images The stock market bounced back partially on Tuesday after getting crushed last week as no news proved to be good news. Investors can only hope the rally will last. The Dow Jones Industrial Average rose 643 points, … Read more
The Federal Reserve’s battle to get inflation down from a 40-year high probability means it will raise interest rates until the US economy slows, strategists at the BlackRock Investment Institute warned on Tuesday. “The Fed seems dead set on raising rates this year to levels that, in our view, would clearly slow the economy,” Jean … Read more
The S&P 500 officially hit bear market territory last week and, according to Deutsche Bank, is currently on track for its worst half-year performance since the Great Depression. With the large-cap benchmark SPX, + 2.57% having shed around 22.3% so far in 2022, strategists the bank see the remainder of the year hinging on whether … Read more
By Michael Dabaie ODP Corp. shares fell 14% to $ 30.20 after the business services and supplies company said it won’t divest or separate its consumer business. ODP’s board in January delayed an announced separation to evaluate a potential sale of its consumer business. ODP said it completed a review of public and private non-binding … Read more