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Relief on Wall Street when Fed Chair Jerome Powell says a hike in interest rates is unlikely; Labor Department data points to continuing tightness in the labor market; Peloton lays off about 15% of its workforce.
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Stocks close mixed; UAW’s unionization efforts have been mixed; Conference Board points to weak consumer outlooks, factory orders; index of current economy improved in April.
Published 05/17/24
Published 05/17/24
The Conference Board’s forward-looking index falls; Reddit reaches a deal with OpenAI; China puts out a housing market rescue plan; Chevy Bolt owners are in line for settlement money.
Published 05/17/24
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