Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, attends an interview with Reuters in New York City, New York, U.S., May 22, 2023. Mike Segar | Reuters Minneapolis Federal Reserve President Neel Kashkari thinks there’s nearly a 50-50 chance that interest rates will need to move significantly higher to bring down…
Signage outside a Chase bank branch in San Francisco, California, on Monday, July 12, 2021. David Paul Morris | Bloomberg | Getty Images Chase UK, the British challenger bank brand of JPMorgan, has blocked customers in the U.K. from purchasing crypto assets. The company said in a statement Tuesday that, starting Oct. 16, Chase UK…
Although bank stock investors are wading through a period of uncertainty and jittery sentiment, Oppenheimer has a positive outlook on certain stocks. “Fortunately, the fundamentals are generally still stable and generally favorable,” Oppenheimer analyst Chris Kotowski said in a Tuesday note about the U.S. banking industry. “Asset quality is normalizing but remains excellent, fees and…
The all-electric 4-door Convertible GT Fisker Ronin is revealed during its inaugural “Product Vision Day” in Huntington Beach, California, on August 3, 2023. Frederic J. Brown | AFP | Getty Images Check out the companies making headlines before the bell. Fisker — Shares of the vehicle development company surged 4.1% premarket after Bank of America…
BEIJING — Europe has launched an investigation into Chinese electric vehicle subsidies, but no assumptions should be made about the probe’s outcome, the head of trade for the European bloc’s executive branch said Tuesday. About two weeks ago, the European Commission announced an investigation into government subsidies for EV makers in China. The probe focuses…
Market Movers rounded up the latest reactions on Nike from investors and analysts. The pros discussed the sports apparel retailer after Jefferies lowered its call on the stock from buy to hold. The analyst behind the call, Randal Konik, also lowered Nike’s price target by $40 to $100 . The firm’s recent consumer survey signaled…
Rolled aluminum is fed into a machine on the auto treatment line at the Alcoa Inc. Davenport Works aluminum facility in Riverdale, Iowa. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Alcoa — Shares of the aluminum stock slipped 5% after the company said executive vice president William…
Sealed Air could see an earnings revival, Citi says. Analyst Anthony Pettinari upgraded the packaging company to buy from neutral. He assigned a $41 price target, which implies a 30.5% rally from Friday’s close. “Sentiment on SEE (and the broader packaging space) has been highly negative given share price weakness, persistent vol challenges, and downward…
Striking members of the Writers Guild of America picket with striking members of SAG-AFTRA, the actors guild, outside Paramount Studios in Los Angeles, Sept. 18, 2023. Mario Tama | Getty Images Check out the companies making headlines before the bell. AstraZeneca — Shares rose 1.4% after Jefferies upgraded the stock to buy from hold. The…
Now is the time to buy the dip in chemical company Dow Inc. , says JPMorgan. The bank upgraded Dow to overweight from neutral and maintained its price target of $55, implying shares can gain 9.5% from where they closed Friday. “We think the recent downward movement in equity values has given investors an opportunity…
