Investing.com -- U.S. stock futures were choppy Friday after data from the Labor Department showed stronger than expected job growth in May, reducing the likelihood the Fed will begin lowering interest rates in September.
Here are some of the biggest U.S. stock movers today:
GameStop (NYSE: GME) slumped 20% after the video game retailer reported a sharp drop in net sales in the first quarter and said it may sell 75 million shares of... (continue reading...)
Citi made an adjustment to its forecast for the U.S. Federal Reserve's monetary policy, moving its expectation for the initial rate cut from July to September.
This change comes in response to the May jobs report, which revealed an addition of 272,000 new jobs, which crushed consensus estimates.
The brokerage and research firm now anticipates a total of 75 basis points in rate reductions to occur in September, November, and December.
"But the jobs report does not change... (continue reading...)
Macquarie analysts see a potential shift in Federal Reserve policy on the horizon. While their base case remains a 2025 rate cut, they acknowledge a December 2024 cut is a "rising prospect."
"Softness in the US labor market data has been noticeable in recent week," they note, pointing to recent trends in initial jobless claims and employment indicators within Purchasing Managers' Indexes (PMIs). These signs suggest a potential slowdown in Non-Farm Payroll (NFP) growth... (continue reading...)
(Reuters) -Spirit Airlines is not considering a Chapter 11 bankruptcy and is "encouraged" by the plan it has in place after its deal with JetBlue Airways fell through, the carrier's top boss said at the annual shareholder meet on Friday.
Shares of the ultra-low-cost carrier were down about 2% amid a decline in broader markets.
CEO Ted Christie's remarks come as the Florida-based company continues to reel from the grounding of several of... (continue reading...)
Citi Changes First Fed Rate-cut Forecast To September From July - Bloomberg
More General News
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BofA sees signs of slowing bullish momentum in European stocks
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Fed seen waiting to cut rates as job growth picks up
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"Eye-popping" May US payrolls jump may set back Fed ease
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U.S. added more jobs than anticipated in May
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Global equity funds rack up robust weekly inflows on rate cut bets
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Tesla upgrades in-car navigation software in China, introduces lane-level guidance
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Wall St inches up, set for weekly gains after mixed data
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AbbVie's tight grip on Humira market raises concerns about biosimilars
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Hertz eyes $700M secured debt sale amid EV setbacks
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GameStop surges almost 50% as 'Roaring Kitty' teases livestream
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Meta's WhatsApp launches new AI tools for businesses
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Netflix tests biggest TV app redesign in 10 years
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Mortgage Rates Pull Back - Freddie Mac (FMCC)
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Midday movers: Lululemon, Lyft rise; Five Below, Victoria's Secret fall
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Investors queued up for US high-yield bond funds as rate cut hopes grow
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Bird flu outbreak reported in Minnesota dairy herd, the state's first
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China securities regulator seeks to ease market panic over delisting risks
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US FDA staff raise no major concerns about Eli Lilly Alzheimer's drug
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Bitcoin miner Core Scientific rejects buyout offer from CoreWeave
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Lyft forecasts 15% annual growth in gross bookings through 2027, shares jump
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Starbucks partners with food delivery platform Grubhub
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Helium leaks detected on Boeing's (BA) Starliner as it heads to the International Space Station - DJ
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US productivity growth slowed in early 2024
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ECB cuts rates, keeps next move under wraps
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"GTA VI" release should fuel "substantial" jump in Take-Two bookings - JPMorgan
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Wells Fargo: Tech stocks are vulnerable to rates uncertainty, sees more volatility
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Boeing has delivered an estimated 36 Max aircraft so far in Q2 - Barclays
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Aramco's $12b Stock Offering Said To Draw Strong Foreign Demand - Bloomberg
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China's Nio expects second-quarter EV sales to more than double
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Amazon Labor Union joins forces with Teamsters
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Nvidia hits $3T in value for first time ever as red-hot rally continues
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Boeing CEO to testify before US Senate panel on June 18
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Nvidia's stock market value hits $3 trillion for first time
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NVIDIA (NVDA) Becomes Third Stock To Ever Reach $3 Trillion In Value - Bloomberg
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Amazon Labor Union affiliates with Teamsters
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Nvidia overtakes Apple as No. 2 most valuable company
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CrowdStrike shares jump as AI boosts cybersecurity demand
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Midday movers: CrowdStrike, HPE, Intel rise; Dollar Tree falls
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Recent rally in European equities "feels tired" - Barclays
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Recent rally in European equities "feels tired" - Barclays
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Meta is a GenAI leader says Raymond James, raises stock target
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UBS raises silver price forecasts, expects outperformance vs gold
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Goldman: Falling rates will drive outperformance in this group of stocks
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Fed to cut rates twice this year, starting Sept; but one or none still a risk: Reuters poll
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NBA nears rights deal worth $76 billion with NBC, ESPN and Amazon, WSJ reports
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Hewlett Packard Enterprise surges as AI-server demand powers strong results
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NBA Nears $76 Billion TV Deal - WSJ
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Yext announces workforce reduction to boost profitability
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BofA: Market volatility implies AI 'isn’t a bubble...yet'
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Intel could be even with TSMC in manufacturing by 2025: Citi