Turning Point Therapeutics, Lululemon, HR and others

Check out the companies making headlines before the bell: Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in premarket trading after agreeing to be acquired by Bristol Myers Squibb (BMY) for $76 per share in cash, or $4.1 billion. Turning Point specializes in cancer treatments. lululemon (LULU) – Lululemon shares rose … Read more

Turkeys inflation soars to 73% as food and energy costs skyrocket

A man sells slippers in Eminonu on May 5, 2022, in Istanbul, Turkey. The country has enjoyed rapid growth for years, but President Erdogan has for years refused to meaningfully raise rates to cool the resulting inflation. The result has been a plummeting Turkish lira and far less spending power for the average Turk. Burak … Read more

Stocks slide as strong economic data raises rate worries

NEW YORK (AP) — A swift jump in Treasury yields rattled Wall Street Wednesday, weighing down stock indexes at the start of another month in what’s been a turbulent year. The S&P 500 fell 0.7% after an early morning gain quickly vanished. Stocks began their slide immediately after the release of several reports on the … Read more

Capri Holdings, Salesforce, Weibo and others

Check out the companies making headlines before the bell: Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above … Read more

5 things to know before the stock market opens Tuesday

1. S&P 500 futures are lower after snapping long losing streak Traders on the NYSE, May 20, 2022. Source: NYSE S&P 500 futures were lower Tuesday morning, as Wall Street resumes trading following the Memorial Day holiday. Stocks posted strong gains last week, ending seven-week losing streaks for the S&P500 and Nasdaq Composite and an … Read more

Fed Governor Christopher Waller says he’s prepared to take rates past ‘neutral’ to fight inflation

Christopher Waller, US President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, DC, on Thursday, Feb. 13, 2020. Andrew Harer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Monday he sees interest rate increases continuing through the rest of the year … Read more

No global recession yet but brace for stagflation, economists say

A global recession is not imminent, but brace for rising costs and slower growth, economists say. “There will be no sudden ‘after’ of stagflation,” said Simon Baptist, global chief economist at the Economist Intelligence Unit, referring to a surprise recession after a period of stagflation. As the war in Ukraine and pandemic disruptions continue to … Read more

US job market divide boosts some workers’ prospects, puts others on notice

A help wanted sign is displayed in the window of a Brooklyn, New York business. Spencer Platt | Getty Images Cracks are forming in the US labor market as some companies look to curb hiring while others are desperate for employees. Microsoft, Twitter, Wayfair, Snap and Facebook-parent Meta recently announced they plan to be more … Read more

Key inflation gauge slowed to still-high 6.3% over past year

An inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, the first slowdown since November 2020 and a sign that high prices may finally be moderating, at least for now. The inflation figures the Commerce Department reported Friday was below the four-decade high of 6.6% set in March. … Read more

Worry about stagflation, a flashback to ’70s, begins to grow

Worry about stagflation, a flashback to ’70s, begins to grow

WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculous “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High inflation mixes with a weak job market … Read more