Shares of United Parcel Service Inc. (UPS) dropped 5% toward a three-year low in premarket trading Thursday. This follows the package delivery giant's report of third-quarter profit expectations that were higher than anticipated. However, the company missed on revenue and subsequently cut its full-year outlook. These disappointing results are attributed to a slowing economy and … [Read more...] about United Parcel Service Inc. Shares Drop Amid Revenue Miss
Covestro Lowers Earnings Outlook for 2023
Covestro, a German chemicals company, announced that it expects its earnings for 2023 to be at the lower end of its previously indicated guidance range. The company cited a challenging environment that has had a negative impact on its third-quarter results. Revised Earnings Projection Covestro now anticipates its earnings before interest, taxes, depreciation, and amortization … [Read more...] about Covestro Lowers Earnings Outlook for 2023
Rise in Long-Term Yields and Strength of U.S. Economy
Treasury Secretary Janet Yellen believes that the recent increase in long-term yields is a direct result of the unexpected strength of the U.S. economy. In an interview with Bloomberg Television, Yellen stated that the rise in yields reflects the resilience of the economy, highlighting the absence of a recession and the continuous strength in consumer spending and demand. She … [Read more...] about Rise in Long-Term Yields and Strength of U.S. Economy
Technology Companies See Stock Market Boost After Strong Earnings
Shares of technology companies experienced an uptick following impressive earnings results from a major player in the industry. Amazon.com saw a rally in its shares after reporting third-quarter sales growth that surpassed Wall Street's expectations. Market investors and traders had high hopes for the tech giants, despite rising costs of capital across various sectors. … [Read more...] about Technology Companies See Stock Market Boost After Strong Earnings
The Challenge of Sustaining Consumer Spending
Consumers have been on a spending spree, but economists are beginning to question the long-term viability of this trend. The most recent data on personal consumption expenditures has raised concerns among some experts, who view the current situation as "unsustainable." The primary cause for alarm is the decline in the share of disposable income that people are able to … [Read more...] about The Challenge of Sustaining Consumer Spending
