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Movers: General Motors, Kohl's, Micron Technology, PulteGroup

Jul 1, 2022
Barry Adams
General Motors lowered its earnings outlook for the second quarter. Micron Technology dropped after releasing its fourth quarter outlook. Kohl's terminated business sales talk and deepened quarterly sales decline.

U.S. Stocks Trade Sideways On Slowdown Worries

Jul 1, 2022
Barry Adams
U.S. stocks struggled to move higher on the first day of the month and reacted to corporate news. U.S. manufacturing activities declined in June but activities stalled in Europe and Asia as supply chain constraints and elevated input costs dominated.

European Markets Falter After Euro Zone Inflation Accelerates

Jul 1, 2022
Bridgette Randall
European markets were on the defensive after the eurozone inflation accelerated on a 42% jump in energy prices in June from a year ago. Italy joined France, Germany and Spain in reporting elevated inflation this week.

Asian Markets Fall On Stalled Manufacturing, Japan's Jobless Rate Rises

Jul 1, 2022
Arjun Pandit
Asian market indexes traded lower after Japan's business confidence declined and jobless rate rose. China's manufacturing activities expanded and home sales rebound according to private surveys.

General Motors Lowers Earnings Outlook On Parts Shortages

Jul 1, 2022
Scott Peters
General Motors lowered June quarter earnings outlook and said shipment of 95,000 vehicles will be delayed on chips and parts shortages.

GM

Micron Technology's Quarterly Sales Rise 16%, Guidance Disappoints

Jul 1, 2022
Scott Peters
Micron Technology said fiscal third quarter sales rose 16% and net income rose despite supply chain disruptions. The company guided weaker-than-expected fourth quarter sales growth and earnings.

MU

U.S. Stock Market's Worst First-Half Returns In Decades May Not Be Over

Jun 30, 2022
Barry Adams
U.S. indexes fell the most in the first-half in five decades with consumers' health in question and the economy facing steeper path of rate hikes and inflation level uncertainties.



S&P 500 Index Extends Largest First-Half Decline In Five Decades

Jun 30, 2022
Barry Adams
Stocks on Wall Street dropped on the final day of the quarter and major indexes are set to register their worst first half since 1970. Inflation worries gripped the market with the release of latest data.

European Markets Drop 2%, French Inflation Accelerates to Record High

Jun 30, 2022
Bridgette Randall
European markets dropped 2% after investors digested latest unemployment data across the region. French inflation rose at the fastest pace since 1999 on higher food and energy prices.

Asian Markets Trend Lower On Global Slowdown Worries

Jun 30, 2022
Arjun Pandit
Asian markets closed mixed and indexes in China rebounded after an index of activities showed expansion in June after contracting for three months in a row.

Listless Trading in Stocks, Bonds, and Oil Markets

Jun 29, 2022
Barry Adams
Stocks, bonds, and energy markets struggled in volatile trading and popular stock averages closed down a fraction. Central bankers delivered hawkish comments in taming inflation but failed to acknowledge their loose monetary policy for more than a decade.

Bed Bath & Beyond Struggles with Shifting Consumer Spending Patterns

Jun 29, 2022
Scott Peters
Bed Bath & Beyond sales plunged as consumer spending pattern shifted away from home goods. The retailer said chief executive Mark Tritton has departed the company.

BBBY

U.S. Stocks Lack Direction, Central Bankers Talk Tough

Jun 29, 2022
Barry Adams
U.S. stocks lacked direction and the first quarter real GDP decreased at an annual rate of 1.6% after the third and final estimate. Central bankers talked tough on inflation but failed to accept their role in fueling inflation after a decade of loose monetary policy.

European Indexes Turn Lower After Inflation In Spain Reaches a 37-Year High

Jun 29, 2022
Bridgette Randall
European indexes declined after Spain reported a 37-year high inflation and German inflation was near record high in June. The economic sentiment indicators dropped both the EU and the euro zone.



Asian Markets Sentiment Deteriorates On Oil Price Rise Resumption, Currencies Fall

Jun 29, 2022
Arjun Pandit
Markets in Asia closed down after the crude energy prices resumed the advance and currencies in the region extended losses after the U.S. dollar gained. The yen dropped to a new 22-year low and the rupee fell to a record low. Currencies in Thailand, Indonesia, and Philippines remained depressed.