Mutual funds staged a recovery in May, with healthy net sales across equity, fixed income, and money market funds, according to a report from JPMorgan.
Overall, May saw inflows of $133 billion, reversing the outflows seen in April. Money market funds led the charge with net sales of $64 billion during the month, a significant turnaround from the $16 billion outflow in April.
“Keep in mind, April is typically the seasonally weakest month of the year for money market net... (continue reading...)
Investing.com -- U.S. producer prices unexpectedly decreased on a month-on-month basis in May, dragged down by a decline in the costs of goods, in the latest sign of cooling inflationary pressures in the world's largest economy.
The producer price index for final demand dipped by 0.2% last month, reversing an increase of 0.5% in April. Economists had called for an uptick of 0.1%.
This is a developing story. Please check back later for updates.
Investing.com -- The number of Americans filing for first-time unemployment benefits rose by more than anticipated last week, pointing to a cooling labor market.
Initial jobless claims in the U.S. climbed to 242,000 in the week ended on June 8, an increase from a total of 229,000 in the prior week. Economists had forecast a consensus figure of 225,000.
The four-week moving average, which attempts to account for variances in the weekly figure, edged higher to 227,000... (continue reading...)
Investing.com -- U.S. stock futures traded in a mixed fashion Thursday, as investors digested a hawkish message from the latest Federal Reserve as well as cooler than expected inflation data.
Here are some of the biggest premarket U.S. stock movers today:
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Broadcom (NASDAQ: AVGO) stock soared 14% after the semiconductor group upgraded its annual revenue guidance for its artificial intelligence-optimized chips, benefiting from the boom in enthusiasm around AI.
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Tesla... (continue reading...)
Investing.com -- Shares in Dave&Buster’s (NASDAQ: PLAY) slid in premarket U.S. trading on Thursday after the restaurant and entertainment business reported first-quarter results that missed estimates.
Adjusted net income in the 13 weeks ended on May 5 slipped by more than 37% versus the year ago period to $46.4 million, translating to $1.12 per diluted share, in a sign that customers were choosing to rein in spending on dining out during a time of elevated... (continue reading...)
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