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☆ Walmart Keeps the Registers Ringing
▼ + stars: | 2022-11-15 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Everybody likes Walmart Inc.’s everyday low prices. But can Walmart keep everybody on board? The big-box retailer said on Tuesday that comparable-store sales at Walmart U.S. grew 8.2% in the quarter ended Oct. 28, well ahead of the 3.4% increase Wall Street analysts polled by Visible Alpha were penciling in. While Walmart turned to a net loss last quarter, that was due to a $3.3 billion charge related to opioid legal settlements. Excluding one-off charges and the effect of currency fluctuations, Walmart’s operating income grew by an impressive 4.6% last quarter.

The surge in stocks and bonds, and steep dollar slide last week sparked one of the biggest loosening of financial conditions in decades. "We see this as another example of the inherent challenges that come from trying to slow the pace of hikes without easing financial conditions." chartchartEvery time investors and traders begin to price a Fed 'pivot', market conditions loosen, and inflationary pressures rise. Policy decisions affect financial conditions immediately, but the full effects of changing financial conditions on inflation are felt much later, Powell told reporters. Related columns:- Fed 'pivot' draws closer, but the word has had its day (Nov. 11)- China reopening may add inflation headache (Nov. 9)- Hedge funds capitulate on Fed pivot (Nov. 6)By Jamie McGeever; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Philadelphia Eagles: How Eagles became Super Bowl contenders with franchise-best undefeated start to season
▼ + stars: | 2022-11-04 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

Although they had a decent season last year, no one could have predicted the Eagles would become Super Bowl contenders behind an inexperienced quarterback and a second-year head coach. Despite the disappointing end to the season, there were good signs to go off for the 2017 Super Bowl winners. After Thursday's victory over the Texans and setting a franchise-best start to the season, Hurts was in no mood for getting ahead of himself. "I know it's special for the city of Philadelphia," Hurts, who has at least thrown two touchdowns in the last three games, told reporters. After such a start, many are penciling in the Eagles to come out of the NFC conference and challenge in Super Bowl LVII in Arizona.

☆ Exxon, Chevron Investors Risk Altitude Sickness
▼ + stars: | 2022-10-28 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

Exxon and Chevron’s stock prices are at or near record highs even as Wall Street is forecasting that peak profit and free cash flow are already behind them. After a fast and furious ascent, Exxon Mobil and Chevron ’s shares are reaching the part of the climb where investors might start feeling a bit queasy. Wall Street was expecting a decline in both from the second quarter, not another increase. Its peer Chevron also posted profits that were a fifth higher than Wall Street expectations. Combined, Exxon and Chevron reported nearly $31 billion in profits.

☆ Analysis: As markets fret, Fed officials reject idea of rising financial stability risks
▼ + stars: | 2022-10-13 | by ( Michael S. Derby | ) www.reuters.com time to read: +6 min

Tobias Adrian, the International Monetary Fund's monetary and capital markets director,wrote on Tuesday that financial stability risks have risen "substantially." Fed officials have lifted the federal funds rate from near-zero levels in March to the current range of between 3.00% and 3.25%. Financial markets expect the Fed to raise the rate again by three-quarters of a percentage point at its next policy meeting in November. More rate rises are very likely after that, with central bankers penciling in a 4.6% federal funds rate by some point in 2023. Making financial conditions more restrictive is key to how monetary policy operates.

LONDON, Sept 28 (Reuters) - The Federal Reserve is raising interest rates expeditiously to address very high, persistent inflation, and will likely get U.S. short-term borrowing costs to where they need to be by early next year, Federal Reserve Bank of Chicago President Charles Evans said Wednesday. Benchmark U.S. 10-year Treasury yields rose to their highest level in about 12-1/2 years on Tuesday as investors girded for higher interest rates that could possibly remain for longer than anticipated as Federal Reserve officials held firm in their hawkish stance. The Federal Reserve has aggressively hiked interest rates by 3 percentage points this year, taking its target range to 3.00%-3.25%. It carried out its third consecutive 75 basis point increase last week and signaled that rates are likely to rise to the 4.25%-4.5% range by the end of the year. Register now for FREE unlimited access to Reuters.com RegisterReporting by Dhara Ranasinghe, Jorgelina Do Rosario and Ann Saphir; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Biogen’s $11 bln Alzheimer’s gain has cushion
▼ + stars: | 2022-09-28 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Sept 28 (Reuters Breakingviews) - An effective treatment for Alzheimer’s disease has long been the holy grail for drug companies. The $11 billion pop in Biogen’s (BIIB.O) market capitalization on Wednesday morning looks impressive but implies some skepticism that Japan’s Eisai (4523.T), and its partner Biogen, have found it. If the drug is priced at $20,000 a patient annually after discounts, it implies around 330,000 take it. Considering the disease affects far more people globally and there are no effective treatments, this seems like a low bar. Eisai will present the study’s results in late November and said it will publish the results in a peer-reviewed journal.

☆ Pound to dollar: The pound's crash will make inflation worse
▼ + stars: | 2022-09-26 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Consequently, the Bank of England will come under pressure to jack up interest rates further and faster. It has been sharply critical of the UK government’s proposals. Why a plunging pound is bad newsThe pound hit a record low against the dollar on Monday, dropping near $1.03 before recovering to almost $1.07. Investors expect the Bank of England will need to increase interest rates much more aggressively to get inflation in check. The central bank has given no indication it will hike interest rates outside its normal schedule of meetings.

☆ The pound’s crash will make inflation worse and push interest rates higher
▼ + stars: | 2022-09-26 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Consequently, the Bank of England will come under pressure to jack up interest rates further and faster. It has been sharply critical of the UK government’s proposals. Investors expect the Bank of England will need to increase interest rates much more aggressively to get inflation in check. The central bank has given no indication it will hike interest rates outside its normal schedule of meetings. “If markets still don’t have faith in the fiscal picture, I’m not sure how the Bank of England wins this,” Rossiter said.

☆ Bill Ackman says more immigration could help the Fed crush inflation without causing a recession - and touts Russia as a labor source
▼ + stars: | 2022-09-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Bill Ackman proposed more immigration as a partial solution to stubborn US inflation. Ackman said immigration could help the Fed to avoid tanking the job market and the economy. "Doesn't it make more sense to moderate wage inflation with increased immigration than by raising rates, destroying demand, putting people out of work, and causing a recession?" However, he said wage inflation won't slow down until interest rates hit high levels that are painful for financial markets and the economy. Read more: A 35-year market veteran shares how he perfected a strategy to hedge against higher interest rates as the Federal Reserve works to stop inflation

☆ Jerome Powell is heading into the 'danger zone'
▼ + stars: | 2022-09-22 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com time to read: +7 min

London (CNN Business) When the Federal Reserve started hiking interest rates to combat decades-high inflation, Chair Jerome Powell stressed that the central bank could increase borrowing costs without inflicting too much damage on the economy. Breaking it down: The central bank didn't go as hard as some investors thought it might. The Fed's main interest rate is now set between 3% and 3.25%. Plus, many factors pushing up inflation numbers — such as the war in Ukraine and drought conditions — are outside the central bank's control. Central banks have "no choice" but to increase interest rates in an effort to combat inflation, she added.

☆ Premarket stocks: Jerome Powell is heading into the 'danger zone'
▼ + stars: | 2022-09-22 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

“We feel the economy is very strong and will be able to withstand tighter monetary policy,” Powell said in March. Breaking it down: The central bank didn’t go as hard as some investors thought it might. Yet tucked into the central bank’s projections were signs that it plans to stay tough, even if it means pushing the economy into rocky territory. The Fed’s main interest rate is now set between 3% and 3.25%. Plus, many factors pushing up inflation numbers — such as the war in Ukraine and drought conditions — are outside the central bank’s control.

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