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Stocks Struggle After Fed's Core Inflation Gauge Advances

Sep 30, 2022
Barry Adams
Major averages struggled to bounce back after the latest PCE report showed elevated inflation and a difficult task ahead for the Fed. Inflation accelerated for the fifth month in a row in the eurozone to 10.0%.

Nike Quarterly Sales Rise 4%, Net Income Plunges 22%

Sep 29, 2022
Scott Peters
Nike sales in its latest quarter rose despite challenges in China and stronger dollar in Europe, Middle East and Africa. Higher costs dragged down quarterly earnings 22%.

NKE

Cintas Lifts Earnings Outlook

Sep 29, 2022
Scott Peters
The uniform and business supplies services provider lifted fiscal 2023 annual revenues and earnings outlook. In the latest quarter, the company expanded its operating margin despite higher costs.

CTAS

Worthington Industries Announces Business Separation, Earnings Dive

Sep 29, 2022
Scott Peters
Worthington Industries plans to separate its steel processing business as a stand-alone publicly traded company. Quarterly earnings declined on higher costs and weaker gross margins.

WOR

Averages Fall 2% With Rate Hike In Focus

Sep 29, 2022
Barry Adams
On Wall Street anxieties spiked up after the latest jobs data signaled wage and consumer price inflation may stay elevated longer than previously estimated. Major averages are set to close down at least 8% in September.

Movers: Apple, Bed Bath & Beyond, CarMax, Cintas, Occidental, Miller, Rite Aid, Vail, Worthington

Sep 29, 2022
Barry Adams
Vail Resorts guided strong demand for its ski resorts. Worthington Industries plans to split its businesses. Rite Aid lowered its annual outlook. CarMax confirmed softening demand. Miller Knoll focuses on lowering costs and improving cash flow.

AAPL BSET KMX JEF MTN BBBY BBBY CTAS WOR

Asia: Nikkei Jumps 1%, Hang Seng and Sensex Extend Losses

Sep 29, 2022
Arjun Pandit
The Hang Seng index extended losses ahead of Golden Week holidays and the Sensex index dropped for the seventh session in a row.



European Markets Accelerate Declines, Record German CPI and Italian PPI

Sep 29, 2022
Bridgette Randall
European markets accelerated declines after the stronger-than-expected U.S. jobs report added to market anxieties underpinned by record German consumer inflation and record wholesale inflation in Italy.

Tech Stocks Lead 3% Sell-off After Jobs Report

Sep 29, 2022
Barry Adams
Major averages dropped between 2% and 3% after the latest jobs report highlighted labor market strength, stoking fears of higher rates sooner. Commodities turned lower after the release of jobs data.

Major Averages Rebound After Week of Losses, Lithium Climbs Higher

Sep 28, 2022
Barry Adams
Major averages rebounded and snapped a six-day losing streak and bond yield turned lower. Crude oil and natural gas closed higher and gold, silver and copper advanced.

Movers: Apple, BlackBerry, Cal-Maine, DocuSign, Paychex, Thor

Sep 28, 2022
Barry Adams
Thor Industries said quarterly sales inched higher driven by price increase. Cal-Maine Foods sales surged on increase in unit sales and higher prices. BlackBerry quarterly sales declined and loss shrank.

AAPL CALM PAYX BB DOCU THO

Stocks Rebound as Jittery Investors Adjust to Rising Rates and Stronger Dollar

Sep 28, 2022
Barry Adams
U.S. stocks rebound and Treasury yields stabilize but investors fear that the Fed's approach to tackling inflation may not avoid hard landing and a deeper-than-expected recession.

Cracker Barrel Quarterly Net Drops 8%

Sep 27, 2022
Brian Turner
Cracker Barrel comparable restaurant sales increased 6.1% and retail sales rose 3.0%. The restaurant chain plans to ramp up opening of new Maple Street Biscuit Company stores in fiscal year 2023.

CBRL

S&P 500 Drifts to New 2022 Low, Treasury Yields Advance

Sep 27, 2022
Barry Adams
Rising Treasury yields overshadowed stocks as investors adjust to higher interest and anticipate more rate hikes. Crude oil rebounded from a nine-month low. The euro and the British pound failed to rebound and closed lower.



Stock Averages and Crude Oil Attempt Rebound, Yields Inch Higher

Sep 27, 2022
Barry Adams
Stocks rebound on Wall Street and the U.S. dollar pauses its advance. Crude oil bounced from its nine-month low but Treasury yields flirted with new 15-year highs.