![]() ![]() And JPMorgan ( JPM) CEO Jamie Dimon predicted in an interview with Fox Business Network aired Tuesday that rates could reach 6%. ![]() Several Federal Reserve officials, including San Francisco Fed President Mary Daly and Atlanta Federal Reserve President Raphael Bostic, have asserted this week that rates will likely go somewhere above 5%. ![]() The latest economic forecasts from the Fed's December gathering showed officials project their key overnight lending rate rising to 5.1% in 2023. 1, while offering hints on how much higher rates are likely to go in subsequent meetings. The report is likely to sway bets on whether the Federal Reserve will raise interest rates by 0.25% or 0.50% at the conclusion of its next meeting Feb. The meme stock jumped 68% after rising more than 50% across the prior two sessions.Ĭoinbase ( COIN) shares clawed back to close up 1.3% after a drop earlier in the day that followed a downgrade by Bank of America to Underperform from Neutral after the company said Tuesday it would slash nearly 1,000 jobs as part of a restructuring plan. ![]() Bloomberg News reported the company has sought funding for a potential Chapter 11 bankruptcy, citing people with knowledge of the preparations.Įmbattled retailer Bed Bath & Beyond ( BBBY) again ripped higher one week after announcing the company was considering bankruptcy due to its financial struggles. Shares of Party City ( PRTY) plunged 37% after surging around that much earlier in the day and spiking 118% in Tuesday's session. The stock price was little changed.Įlsewhere, shares of two retailers on the brink of extinction continued to see intense trading. The move by Wells Fargo, once a leading mortgage lender, comes amid a slowdown in the housing market as sky-high interest rates put a damper on property purchases and refinancing agreements. Wells Fargo ( WFC) was among companies in focus in early trading after the megabank said late Tuesday it would scale back its home lending business. Treasury yields pared their move higher from the previous session, with the benchmark 10-year note falling below 3.6%. ![]()
0 Comments
Leave a Reply. |