Weight-loss drugs and the issue of obesity have grabbed the attention of Wall Street, helping to drive massive gains in Novo Nordisk (NVO) stock and Eli Lilly (LLY). Now investors face the dilemma that eventually comes to all huge winners like Lilly and Novo Nordisk: how to handle late-stage bases. X Novo Nordisk has seen […]
Savers, time for your happy dance. Interest rates will stay higher for longer in 2024. The Federal Reserve held interest rates at a 23-year high this week while curtailing its estimate of rate cuts this year from three to one. Elevated rates are certainly sweet news for short-term savers, “with the top yields on savings […]
By Sarupya Ganguly BENGALURU (Reuters) – U.S. Treasury yields will plateau over the coming three months and then only fall modestly by year-end amid receding expectations of Federal Reserve interest rate cuts, according to a Reuters poll of bond strategists. After peaking at 5.02% in October, the benchmark U.S. 10-year Treasury note yield plummeted over […]
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One thing has stayed the same during the 40 years that the City Club of Greenville has reigned at the top of One Liberty Square in Downtown Greenville. The view. “The best thing didn’t change,” says General Manager Kiirsti Heon. Kiirsti Heon became General Manager of the City Club of Greenville, formerly the Commerce Club, […]
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By Arunima Kumar (Reuters) -Top U.S. refiner Marathon Petroleum beat first-quarter profit estimates on Tuesday, as demand for refined products remained at high levels and global fuel supplies tightened due to refinery maintenance activities and disruptions in Russia. The refiner also announced a $5 billion increase to its share repurchase authorization. Heavy refinery maintenance work […]
WASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid. Friday’s report from the government showed that prices rose 0.3% from February to March, the same […]
US Federal Reserve chairman Jerome Powell has cautioned that persistently elevated inflation is likely to delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence” that inflation is coming fully under control and “instead indicate that it’s […]
On Wednesday, investors will digest one of the most important data points the Federal Reserve will consider in its next interest rate decision: March’s Consumer Price Index (CPI). The inflation report, set for release at 8:30 a.m. ET, is expected to show headline inflation of 3.4%, an acceleration from February’s 3.2% annual gain in prices, […]
The National Weather Service issued a special weather statement in effect through 8 p.m. Thursday for portions of Virginia, Maryland, and Eastern West Virginia. Elevated fire weather conditions are expected through this evening across portions of Maryland, eastern West Virginia, and Virginia. Dry conditions continue with relative humidity values expected to drop between 15-20 percent, […]
WASHINGTON (AP) — Wholesale prices in the United States accelerated again in February, the latest sign that inflation pressures in the economy remain elevated and might not cool in the coming months as fast as the Federal Reserve or the Biden administration would like. The Labor Department said Thursday that its producer price index — […]