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March 6, 2021

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Yellen says higher Treasury yields signal recovery, not inflation

Reuters
FILE PHOTO: Federal Reserve Chairman Janet Yellen speaks during a news conference after a two-day Federal Open Markets Committee (FOMC) policy meeting, in Washington, U.S., September 20, 2017. REUTERS/Joshua Roberts WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday said higher long-term Treasury debt yields were a sign market......

Stocks face the crosscurrents of higher interest rates and fiscal stimulus in the week ahead

CNBC
CNBC – For more and to sign up click here Traders on the floor of the New York Stock Exchange Source: The New York Stock Exchange The Covid-19 aid package is on track for final congressional approval in the week ahead — and it could be a double-edged sword for......

Gap forecasts return to sales growth in 2021, sending shares higher despite sales miss

CNBC
CNBC – For more and to sign up click here A man walks past a store on January 12, 2021 in New York City. Angela Weiss | AFP | Getty Images Gap Inc. on Thursday predicted a bounce back to sales growth in 2021, hopeful that customers will soon return......

China shares bounce higher; investors shrug off factory growth slowdown

Reuters
* SSEC +1.21%, CSI300 +1.54% * Follows >5% fall last week, biggest weekly drop in a year * Factory activity growth slows in February SHANGHAI, March 1 (Reuters) – China shares ended higher on Monday, rebounding from their biggest weekly loss in a year as investors bought shares bruised by......

Covid relief bill may trigger $36 billion cut to Medicare, higher student loan fees

CNBC
CNBC – For more and to sign up click here Bill Clark | CQ-Roll Call, Inc. | Getty Images A Covid relief bill backed by Democrats could trigger billions of dollars in cuts to Medicare and other federal programs, like ones that support unemployed workers and student-loan borrowers, if it’s......

FDA allows storage, transport of Pfizer vaccine at higher temperatures

Reuters
FILE PHOTO: A woman holds a small bottle labeled with a “Coronavirus COVID-19 Vaccine” sticker and a medical syringe in front of displayed Pfizer logo in this illustration taken, October 30, 2020. REUTERS/Dado Ruvic/File Photo (Reuters) – The U.S. Food and Drug Administration on Thursday approved storage and transportation of......

Papa John’s earnings miss, weighed down by higher costs, but chain sees strong pizza demand

CNBC
CNBC – For more and to sign up click here Signage outside a Papa John’s International pizza restaurant in Louisville, Kentucky, on Monday, Feb. 22, 2021. Luke Sharrett | Bloomberg | Getty Images Papa John’s on Thursday reported quarterly earnings that missed estimates as higher food costs, a new corporate office and......

Stock futures higher after Dow’s record close

CNBC
CNBC – For more and to sign up click here U.S. stock index futures moved higher in overnight trading on Wednesday after the Dow closed at a record level during normal trading hours. Futures contracts tied to the Dow Jones Industrial Average gained 87 points. S&P 500 futures were up......

Hospitalisation risk 64% higher with UK coronavirus variant: Danish study

Reuters
FILE PHOTO: Citizens are tested for coronavirus disease (COVID-19) at Arena Nord in Frederikshavn, Northern Jutland, Denmark November 7 2020. Claus Bjoern Larsen/Ritzau Scanpix/via REUTERS COPENHAGEN (Reuters) – A Danish study has found that people infected with a more contagious coronavirus variant first identified in Britain have a higher risk......

P&G CEO expects higher demand for cleaning products to outlast pandemic

CNBC
CNBC – For more and to sign up click here People are no longer stocking up on household supplies like they did in the early days of the coronavirus pandemic, but Procter & Gamble Chairman and CEO David Taylor told CNBC on Tuesday that the company expects elevated demand for......

Thomson Reuters reports higher fourth-quarter revenue

Reuters
NEW YORK (Reuters) – Thomson Reuters Corp reported higher fourth-quarter revenue on Tuesday and said it would start a two-year program that will change it from a holding company to an operating company. The news and information company said revenues rose 2% to $1.62 billion. Writing by Nick Zieminski in......

Technician forecasts another 35% rally for lumber – four ways to play higher demand

CNBC
CNBC – For more and to sign up click here Lumber prices are on a tear. The commodity topped $1,000 last week, a record high and a promising sign of a rebound in demand for building materials as the economy recovers from the coronavirus pandemic. Craig Johnson, chief market technician......

Stock futures edge higher in overnight trading after Yellen pushes for more stimulus

CNBC
CNBC – For more and to sign up click here Traders on the floor of the New York Stock Exchange. Source: The New York Stock Exchange Stock futures inched higher in overnight trading on Thursday after Treasury Secretary Janet Yellen said a large Covid relief package is still needed for a......

Jobless claims show unexpected move higher

CNBC
CNBC – For more and to sign up click here First-time filings for unemployment insurance jumped higher last week in a sign of continuing strife for the labor market. New claims totaled 861,000, the highest level in a month and above the Dow Jones estimate of 773,000, the Labor Department......

Roblox says revenue was higher than previously reported and pushes direct listing to March

CNBC
CNBC – For more and to sign up click here Welcome to Bloxburg Roblox Roblox, the kids’ gaming company that’s getting set to go public, released an updated prospectus on Thursday showing that its revenue for the first three quarters of 2020 was higher than previously reported, while its net......

Australian consumer sentiment swings higher in Feb -survey

Reuters
SYDNEY, Feb 10 (Reuters) – A measure of Australian consumer sentiment has bounced back toward a decade high in February as the largely successful containment of coronavirus outbreaks in some cities offered reassurance on the economic outlook. The Westpac-Melbourne Institute index of consumer sentiment released on Wednesday rose 1.9% in......

‘We Are Forgotten’: Grocery Workers Hope for Higher Pay and Vaccinations

New York Times
HAC, the Oklahoma company that owns Cash Saver and Homeland, is employee-owned. Its chief executive, Marc Jones, said the initial hero pay last year was “a reflection of the surge of people in our stores, and when that surge died down it seemed like the appropriate time to end it.”......

Stock futures higher following best week since November

CNBC
CNBC – For more and to sign up click here U.S. stock index futures rose in overnight trading on Sunday, as the major averages looked to accelerate gains following the best week since November. Futures contracts tied to the Dow gained 75 points, or 0.27%. S&P 500 futures were 0.3%......

Global shares rally, retail surge drives silver higher

Reuters
By Simon Jessop, Wayne Cole LONDON/SYDNEY (Reuters) – Global shares bounced and silver markets surged on Monday as retail investors expanded their social-media fuelled battle against Wall Street to drive the precious metal to a five-month high. FILE PHOTO: The German share price index DAX graph is pictured at the......

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