Author: IA PressRoom

Ford Motor (F) is making moves in the options pits today, as its shares extend their long-term volatility on the charts. This movement comes after CEO Jim Farley said the company’s cost of electric vehicles (EV) will likely be more expensive than internal combustion engine (ICE) peers until at least 2030. F remains under a steep 19% nine-month deficit, though it has managed to eke out an 8% gain for 2023. Further losses may also be on the horizon, if past is precedent. Specifically, Ford Motor stock is trading within one standard deviation of its historically bearish 200-day trendline. Per…

WASHINGTON – MAY 16: Sen. Elizabeth Warren, D-Mass., questions bank executives during the Senate … [+] Banking Housing and Urabn Affairs Committee hearing on Tuesday, May 16, 2023. (Bill Clark/CQ-Roll Call, Inc via Getty Images)CQ-Roll Call, Inc via Getty Images The Senate has advanced a measure that would repeal President Biden’s signature student loan forgiveness initiative, a strong indication that it may ultimately pass Congress. The House approved the bill last week. But Biden has vowed that he will veto the measure. Here’s where things stand. House Passed Student Loan Forgiveness Repeal Last Week Last week, the Republican-led House of…

© Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – U.S. rate futures on Wednesday priced in a pause in interest rate hikes by the Federal Reserve at next month’s monetary policy meeting, a massive turnaround from indications of a 25 basis-point increase earlier in the session, according to Refinitiv’s FedWatch. The big catalyst were comments from Fed Governor and vice chair nominee Philip Jefferson and Philadelphia Fed President Fed Harker who both touted skipping a June rate hike. Jefferson said “skipping a…

© Reuters. Investing.com — The retail sector continues to feel the weight of inflation and shifts in consumer spending habits. The SPDR® S&P Retail ETF (NYSE:) is down 2.8% on Wednesday as earnings for Nordstrom Inc (NYSE:) are expected after the closing bell. The XRT is down 4.6% for the month so far, down 11.5% for 3 months, and 2.8% so far this year, according to Morningstar. Rising has crimped household budgets and forced consumers to make choices at the cash register between discretionary items such as apparel and necessities such as food. Retail results have been mixed so far…

Image from PexelsAmid heightened regulatory uncertainty and anti-crypto sentiment in the United States, a leading US-based cryptocurrency exchange, Coinbase, has linked crypto to national security.The firm noted in a lengthy blog post that the US must embrace crypto to facilitate national security.The May 30 article discussed the impact of embracing new technologies on security and world leadership. Coinbase also highlighted US history with wars and economic development and how innovation and technology helped place it at the peak of world leadership.US Conceded Its Position In Innovation and TechnologyAccording to Coinbase, the United States seems to have lost the drive it had…

CNN  —  Sen. Joe Manchin’s monthslong effort to greenlight the controversial Mountain Valley Pipeline – a project that will pipe methane gas across parts of West Virginia and Virginia – is likely to prevail in the bipartisan debt ceiling deal, angering environmental groups and some Democratic lawmakers. Manchin helped secure a provision in the deal that would compel federal agencies to approve all remaining permits for the approximately 300-mile natural gas pipeline, as well as shield the project from further litigation. The conservative Democrat from West Virginia, who has been critical of the Biden administration’s environmental goals, praised the White…

The Big Apple is living up to its name as one of the most expensive places to live, with rents at record heights. As government officials and companies try to bring more workers back into the city, a new report by real-estate company Douglas Elliman and appraiser Miller Samuel found that rents were up in April in Manhattan by 8.1% as compared with the same month in 2022.  The…

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ExxonMobil and Chevron shareholders solidly rejected climate change proposals at the US oil majors’ annual meetings on Wednesday, scaling back support from last year and splitting with results at peers in Europe where resolutions related to global warming have won stronger support. Only 11 per cent of Exxon shareholders supported a petition calling for the company to set emissions reduction targets that would be consistent with the goals of the 2015 Paris climate agreement. A similar proposal at Chevron received less than 10 per cent support.The vote tallies highlight differences between shareholder support for climate change action at US and…

© Reuters. FILE PHOTO: The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – Federal Reserve officials including the vice chair-designate pointed towards a rate hike “skip” in June, prompting a quick reversal of market expectations for another hike as the U.S. central bank weighed the value of caution against still strong inflation data. Since the Fed’s last meeting, topline data on inflation has offered little improvement and a new labor market release on Wednesday showed the ratio of available employees to available workers increasing – evidence…