Off-price retail company Ross Stores (NASDAQ:ROST) met Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 1.8% year on year to $5.91 billion. On the other hand, next quarter’s revenue guidance of $4.79 billion was less impressive, coming in 6.9% below analysts’ estimates. Its GAAP profit of $1.79 per share was 7.9% above analysts’ consensus estimates.
Wall Street’s flagship stock market has lost all its gains since the election of Donald Trump in November after the US imposed tariffs on its closest allies and China.
Investors weighed Canada and China's response to President Donald Trump's delivery of new tariffs
Billionaire investor Bill Gross told BI that he's worried about tariffs stoking inflation and choking growth, and recommended four defensive stocks.
The tariff move by U.S. President Donald trump fueled investor worries about the impact on the economy, and also weakened the dollar as investors moved into safe haven Treasuries, pushing yields lower. The Dow Jones Industrial Average unofficially closed down 1.63%, the S&P 500 down 1.3% and the Nasdaq Composite, down 0.34%.
Parts of the U.S. Treasury yield curve are reflecting increasing concerns that the Federal Reserve will wait too long before resuming interest rate cuts as economic growth slows. The spread between yields of two-year and five-year notes is trading at around 3 basis points after very briefly turning negative last week for the first time since mid-December. This part of the curve is worth watching because durable inversions have preceded major economic contractions and stock market declines for the past 35 to 40 years, said Tom Fitzpatrick, head of global market insights at R.J. O'Brien.
(Bloomberg) -- President Donald Trump’s trade war at least temporarily dashed individual investors’ optimism about the US stock market, setting-off a record setting stampede for the exits just after Tuesday’s opening bell. Most Read from BloombergHow Upzoning in Cambridge Broke the YIMBY MoldRemembering the Landscape Architect Who Embraced the CityHong Kong Joins Global Stadium Race With New $4 Billion Sports ParkUS Tent Facility is Holding Migrant Families Longer Than RecommendedNYC’s Finances
(Bloomberg) -- As President Donald Trump unleashes a salvo of tariffs on nations around the globe, the trading desk at JPMorgan Chase & Co. is bracing for US equities to extend losses as levies weigh on growth at home and overseas.Most Read from BloombergHow Upzoning in Cambridge Broke the YIMBY MoldRemembering the Landscape Architect Who Embraced the CityHong Kong Joins Global Stadium Race With New $4 Billion Sports ParkUS Tent Facility is Holding Migrant Families Longer Than RecommendedNYC’s F
Stocks fell Tuesday amid renewed fears of a wider trade war as tariffs long threatened by the Trump administration came into effect.
(Bloomberg) -- The cofounder of Diameter Capital Partners, one the first firms to snap up debt tied to Elon Musk’s buyout of X, says that the social media company was more profitable than the market was accounting for.Most Read from BloombergHow Upzoning in Cambridge Broke the YIMBY MoldRemembering the Landscape Architect Who Embraced the CityHong Kong Joins Global Stadium Race With New $4 Billion Sports ParkUS Tent Facility is Holding Migrant Families Longer Than RecommendedNYC’s Finances Are S