The Stock Market Will Be Closed Tomorrow for Good Friday
The U.S. stock market will be closed on Friday, April 7, reopening Monday. Bond trading will be open for a shortened session, closing at 12 p.m. ET.
Bullard Plays Down Credit Crunch, Says Fed Must Fight Inflation
Federal Reserve Bank of St. Louis President James Bullard said steps taken to ease financial strains were working and the central bank should keep raising interest rates to fight high inflation.
IMF Warns Five-Year Global Growth Outlook Weakest Since 1990
The emergency lender sees the world economy expanding about 3% over the next half decade as higher interest rates bite, Managing Director Kristalina Georgieva said in a speech in Washington Thursday. That’s the lowest medium-term growth forecast since 1990 and less than the five-year average of 3.8% from the past two decades.
US Profits Set for Pandemic-Sized Drop, Goldman Strategists Say
Analyst consensus expectations are for S&P 500 earnings-per-share to fall 7% in the first quarter from a year earlier, marking the sharpest decline since the third quarter of 2020 and a low point in the profit cycle, strategists including Lily Calcagnini and David Kostin wrote in a note. "If analyst projections are realized, this quarter will represent the trough in S&P 500 earnings growth."
SECTORS
Dollar Can Drop a Lot Further, Says Most-Accurate Forecaster MPS
Italy's MPS Capital Services Banca per le Imprese SpA scored top position in Bloomberg's accuracy rankings for the first quarter of 2023. Now, MPS chief strategist Luca Mannucci is warning that the greenback could plunge as much as 5% against other currencies in the second half.
COMPANY
Walmart Will Add Thousands of EV Charging Stations to Stores by 2030
$Walmart(WMT.US)$announced Thursday it plans to add electric vehicle charging stations to thousands of U.S. stores by 2030.
The company announced it would expand its EV fast-charging network to Walmart and Sam's Club locations across the country, adding to the nearly 1,300 EV stations currently in operation at 280 of the company's locations.
Amazon Looks to Grow Diamonds in Bid to Boost Computer Networks
$Amazon(AMZN.US)$ is teaming up with a unit of De Beers Group to grow artificial diamonds, betting that custom-made gems could could help revolutionize computer networks.
Tesla Changes Up Board With Nomination of Former Tech Chief
$Tesla(TSLA.US)$Inc. nominated JB Straubel, a co-founder and former senior executive, to join its board of directors as part of a broader reshaping of the carmaker's senior management structure.
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