Amazon joined the $2 trillion market cap club. The...
Amazon joined the $2 trillion market cap club. The e-commerce giant now gets to sit at the cool kids’ table with Microsoft, Apple, Nvidia, and Alphabet. Amazon shares are up about 26% so far this year, fueled by hysteria excitement around artificial intelligence. Investors have been impressed by the company’s ability to bounce back from a recent slowdown while cutting costs. Microsoft, which has also surged in market cap thanks to the AI boom, currently leads the pack with a value north of $3.3 trillion.
IATSE, the union representing Hollywood craftspeople, reached a tentative agreement with the studios, likely averting another entertainment industry strike.
The yen fell to its lowest level since 1986, raising the possibility that Japanese officials could step in to save the enervated currency.
The Biden administration issued mass pardons to US military members who were discharged and court-martialed for being gay under a Cold War-era rule.
Verizon updated its logo, which eliminates the checkmark and sure looks a lot like Netflix’s.
Ovax, a new startup, has raised $10 million to develop a fentanyl vaccine, which would prevent users from overdosing on the often deadly drug.
Guy Beahm, aka the popular video game streamer Dr Disrespect, is shedding sponsorship deals after admitting to inappropriately messaging a minor in 2017.
Benchmark U.S. crude oil for August delivery rose 7 cents to $80.90 per barrel Wednesday. Brent crude for August delivery rose 24 cents to $85.25 per barrel.
Wholesale gasoline for July delivery rose 3 cents to $2.54 a gallon. July heating oilrose 3 cents to $2.54 a gallon. July natural gas fell 13 cents to $2.63 per 1,000 cubic feet.
All three major U.S. stock indexes finish higher, led by Nasdaq Composite
The Nasdaq Composite led Wednesday's advance in U.S. stocks, with the...
The Nasdaq Composite led Wednesday's advance in U.S. stocks, with the Dow Jones Industrial Average and S&P 500 fending off weakness throughout the session.
The Dow Jones finished up 15.64 points, or less than 0.1%, at 39,127.80, based on preliminary data.
The S&P 500 closed up by 8.60 points, or almost 0.2%, at 5,477.90.
The Nasdaq Composite ended up by 87.50 points, 0.5%, at 17,805.16.
Inflation rate’s return to 2% could take several years: Cleveland Fed economist
Officials at the Federal Reserve are expecting inflation to keep easing...
Officials at the Federal Reserve are expecting inflation to keep easing over the next two years and have penciled in a return to their 2% target in 2026.
But a senior research economist at the central bank’s Cleveland branch, Randal Verbrugge, is warning that it could actually take several years to reach that target — a level designated by the interest-rate-setting Federal Open Market Committee as consistent with maximum employment and price stability. That’s because of what he calls intrinsic characteristics of inflation that make it unlikely to get to 2% in a timely way. The model he came up with shows inflation will still be above target, at 2.7%, by the second quarter of 2025 and close to, but slightly above, 2% as of mid-2027.
ExxonMobil, Air Liquide plan low-carbon H2, ammonia site
ExxonMobil and Air Liquide are teaming up to advance a project at ExxonMobil's...
ExxonMobil and Air Liquide are teaming up to advance a project at ExxonMobil's Baytown, Texas, facility that will use Large Modular Air separation technology from Air Liquide to generate oxygen and nitrogen for low-carbon hydrogen and ammonia production. The resulting low-carbon hydrogen could be carried through Air Liquide's pipeline network to support market expansion, said ExxonMobil.
