Fed’s Barkin sees risk the U.S. could talk itself into a recession; no sign of it yet
Richmond Federal Reserve President Thomas Barkin on Tuesday said there was a risk the United States could talk itself into a recession but added he saw no sign of this happening yet.
Powell says Fed insulated from politics, wrestling with rate cuts
Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is “insulated from short-term political pressures,” and that its policymakers are wrestling with whether to cut interest rates as President Donald Trump has demanded.
Gold soars to six-year high, stocks slide after Powell speech
Gold soared to an almost six-year high on Tuesday on escalating U.S.-Iran tensions, while equity markets slid on disappointing economic data and uncertainty on whether the Federal Reserve will cut interest rates in July as has been expected.
FedEx reports 17.5% drop in quarterly profit
FedEx Corp reported a 17.5% fall in quarterly profit on Tuesday, as an escalating U.S.-China trade war continued to weigh on the package delivery company.
Micron revenue beats, sees signs of improving demand
Micron Technology Inc beat analysts’ estimates for quarterly revenue on Tuesday, and the chipmaker said it is seeing early signs of demand improvement.
Disney poaches Netflix film-making chief for streaming service: Deadline
Walt Disney Co has hired the head of Netflix Inc’s original film division, Matt Brodlie, for its streaming service Disney+, according to a report by Deadline on Tuesday.
U.S. launches criminal probe into alleged chicken price fixing by Tyson, rivals
The U.S. Department of Justice has begun a criminal probe into allegations that Tyson Foods Inc and other poultry processors including Pilgrim’s Pride Corp and Sanderson Farms Inc colluded to fix poultry prices, court documents show.
Wall Street drops amid tech selloff, trade concerns
Wall Street fell on Tuesday, led by a selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while Federal Reserve Chairman Jerome Powell pushed back on pressure from President Donald Tru…
Tesla likely to miss record second-quarter delivery target: Electrek
Shares of Tesla Inc fell 1.3% on Tuesday after news website Electrek reported that the electric-car maker has so far delivered 49,000 vehicles in North America during the second quarter and may miss its quarterly target.
Oil prices mixed ahead of U.S. crude stock data
Oil prices were mixed on Tuesday ahead of data expected to show U.S. crude stocks declining, outweighing investors’ concerns that U.S.-China trade tensions could dampen fuel demand.
