Shares of several vaccine makers including Pfizer and Astrazeneca were down Friday morning following the nomination of Robert Kennedy Jr, to head the Department of Health and Human Services.
Spectrum Brands shares fell Friday, after the maker of George Foreman Grills and parent of Remington posted adjusted earnings and an outlook that missed analysts’ estimates.
Strong U.S. economic and inflation data on Friday continued reshaping the debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors further downgraded their expectations for a rate reduction at the central bank's December meeting. In the latest round of comments on U.S. monetary policy, Fed officials continued to express faith that inflation was coming under control and would allow the central bank to lower its benchmark rate over time from the current 4.5% to 4.75% range, a level felt to discourage spending and investment, to a more neutral setting. But how fast that happens, and what level represents "neutral," remain under debate, with Fed Chair Jerome Powell on Thursday saying the economy's continued strength meant the Fed could take its time with the discussion.
Federal Reserve Bank of Boston President Susan Collins said Friday she wants to see more data before deciding whether the central bank should cut rates again at its policy meeting next month. Markets are questioning whether the Fed will press forward with rate cuts at its next meeting in the wake of some new data pointing to firmer inflation pressures. This comes also at a time when Donald Trump has been elected president again on an economic platform of trade tariffs and mass deportations, which broad swathes of economists expect will reignite inflation.
Spectrum Brands Holdings, Inc. (NYSE:SPB) shares are trading lower on Friday. The company reported fourth-quarter adjusted earnings per share of 97 cents, missing the street view of $1.07. Quarterly revenues were $773.7 million (+4.5%), beating the analyst consensus of $747.51 million. Gross profit surged 17.8% to $288 million. Gross profit and margin increased due to productivity improvements, operational efficiencies, and inventory actions in the prior year, partially offset by ocean freight i
Boston Fed President Susan Collins said it was too soon to say whether the Fed should cut interest rates next month. “It’s not a done deal.”
(Bloomberg) -- Federal Reserve Bank of Boston President Susan Collins said a December interest-rate cut remains on the table, emphasizing the central bank’s decision will be guided by incoming data.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and Emissions“I do see the policy stan
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