Business News

Dow Jones rally as Powell raises interest rates;  Oil prices jump above $ 112 a barrel

Dow Jones rally as Powell raises interest rates; Oil prices jump above $ 112 a barrel

The Dow Jones Industrial Average rose 250 points on Wednesday after comments by Fed chief Jerome Powell showed that the Federal Reserve was still ready to raise interest rates despite Russia’s invasion of Ukraine. Government bond yields recovered after two days of sharp losses. Energy stocks traded briskly as oil prices sparked by the Russia-Ukraine …

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Fitbit withdraws smart watches due to the risk of burns

Fitbit withdraws smart watches due to the risk of burns

San Francisco resident Lori Farr is trying out the Fitbit Ionic Andrew Evers, CNBC Fitbit, owned by Google, is withdrawing its Ionic smartwatches due to the risk of burns, the US Consumer Product Safety Commission announced on Wednesday. About 1 million Ionic watches have been sold in the United States, along with nearly 700,000 sold …

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Ralph CEO Lauren Howard Smith will resign after violating the code of ethics

Ralph CEO Lauren Howard Smith will resign after violating the code of ethics

Ralph Lauren President for Europe Howard Smith attends a photo shoot for the Vogue Foundation dinner as part of Paris Fashion Week – Haute Couture Fall / Winter 2018-2019 at the Musee Galliera on July 3, 2018 in Paris, France. Julien Hekimyan | Getty Images Ralph Lauren said on Wednesday that his executive vice president …

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Safeguards: The war in Ukraine shatters the Fed’s options

Safeguards: The war in Ukraine shatters the Fed’s options

“The short-term effects of the crisis appear to be inflationary, but the impact on growth is more difficult to identify and puts central bankers in a very difficult position,” said Michael Schumacher, macro-head of Wells Fargo Securities. Powell did not specify the size of the march. Schumacher believes he will “hint strongly” on Wednesday that …

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Dow Jones rally as Powell raises interest rates;  Oil prices jump above $ 112 a barrel

The Federal Reserve will be “agile”, Powell says, but supports raising interest rates in March as Putin’s war fuels inflation

Federal Reserve chief Jerome Powell signaled on Wednesday that the interest rate in March was “appropriate”, but stressed that the impact of the Russian invasion of Ukraine was incredible. Following the publication of Powell’s prepared testimony, stock market futures gave up some early gains. x “The short-term consequences for the US economy of the invasion …

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Salesforce, Ford, Nordstrom and others

Salesforce, Ford, Nordstrom and others

Check out some of the biggest manufacturers in the pre-market: Nordstrom – Retail shares rose 30.5% in pre-market trading after the company posted better-than-expected results for the fourth quarter. Nordstrom reported earnings of $ 1.23 per share, compared to Refinitiv’s expected consensus estimate of $ 1.02. Revenues also exceeded expectations. The retailer highlighted the improvements …

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OPEC + agrees to increase production despite rising oil prices

OPEC + agrees to increase production despite rising oil prices

Worker in an oil field developed by Almetyevneft, Tatneft’s Oil and Gas Production Board (NGDU). Egor Aleev | TASS | Getty Images An influential energy alliance, known as OPEC +, will meet on Wednesday to determine the next phase of production policy. This comes as crude prices rise to multi-year highs due to fears of …

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