Follow her on Twitter here for the latest trending stock tickers from the Yahoo Finance platformĬlick here for the latest stock market news and in-depth analysis, including events that move stocks In commodity markets, oil prices nudged 1% higher after settling at a fresh seven-month low on Wednesday.Īlexandra Semenova is a reporter for Yahoo Finance. The video-game retailer also reported second-quarter earnings that showed losses widened to $108.7 million while sales declined 4% from a year ago to $1.14 billion.Īmerican Eagle Outfitters (AEO) shares tanked 8.8% after the company missed on earnings, paused its quarterly dividend, and warned “demand trends remain difficult” in the current quarter. Shares of GameStop (GME) were ripped 7.5% higher after the meme-stock darling announced a partnership with crypto platform FTX late Wednesday. Brendan Smialowski/Pool via REUTERSĬME Group’s Fedwatch tool reflects expectations for a bump of three quarters of a percentage at about 86%, up from 69% one week ago.Ī flurry of Wall Street institutions have also raised their bets on a 75-basis-point hike this month including Bank of America, Goldman Sachs, and Nomura. US Federal Reserve Board Chairman Jerome Powell listens during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, US, January 11, 2022. Some market participants had hoped that policymakers would slow the pace of their rate-hiking campaign this fall, but strong economic data on the labor and manufacturing fronts have tempered those expectations. The increase came just two weeks before the Federal Reserve is poised to raise interest rates in the US by 0.75% for the third consecutive time. Economists called for 240.00 claims, according to consensus estimates compiled by Bloomberg.Īcross the Atlantic, the European Central Bank delivered an unprecedented 75 basis point interest rate hike and signaled further increases after inflation in the eurozone hit a new record high. Filings for first-time unemployment insurance totaled 222,000 in the week ended Sept. On the economic data front, initial jobless claims fell to the lowest reading since May. Thursday’s seesaw session comes after the S&P 500 surged 1.8% Wednesday, the Dow Jones Industrial Average about 1.4%, and the Nasdaq Composite 2.1% – snapping a seven-day streak of declines and notching its biggest jump in four weeks. The appearance marked Powell’s final public remarks before the Fed’s next policy announcement September 21.
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