Stocks Move Lower as Uber, Shopify Shares Slide After Earnings

U.S. stocks declined as updates from Uber, Shopify and other companies arrived as first-quarter earnings season nears its end. 


 
Fed's Collins says she's not surprised by unwelcome inflation data

Boston Fed President Susan Collins said Wednesday that she wasn't surprised by the unwelcome news on inflation given the rapid progress seen last year, but she added that the economy needs to slow more in order to cool price pressures in the coming months. 


 
Wholesale inventories fall in March

The depletion of private inventories subtracted from the U.S. GDP in the first quarter. 


 
First-time home buyers pounce as 30-year FHA loan rate dives below 7%

Mortgage applications rose 2.6% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.18%. 


 
BOJ Governor Says Early Rate Hike Possible if Prices Rise Faster Than Expected

Bank of Japan Gov. Kazuo Ueda said he is open to the idea of early interest-rate increases if inflation rises at a faster pace than the bank's projections. 


 
Sweden Cuts Rate as Europe Moves Ahead of the Fed

The Riksbank cut its key rate to 3.75% from 4%, in line with forecasts, becoming only the second central bank from a rich, advanced economy to begin its easing cycle following the post-pandemic surge in inflation. 


 
Hannon's Take: The Risk of Waiting for the Fed

For Europe's central banks, moving ahead of the Federal Reserve risks a depreciation of the national currency. But there is another argument. 


 
Profits Are Booming-and That's Shielding the Economy

CEOs are upbeat, and results are on the upswing. The somewhat slower job growth reported last week isn't the same as a major downturn. 


 
Pricier Insurance Makes Sense as Climate Risk Grows, Chubb CEO Says

Speaking in California, Evan Greenberg says industry has been setting premiums 'very rationally,' adding that it didn't tell people to 'build magnificent homes in a wildfire zone.' 


 
German Industry Awaits Sustained Rebound After March Decline

Output of production in manufacturing, energy and construction fell 0.4%, the first fall this year, a signal that an industrial recovery could be fragile as the economy still struggles.


(END) Dow Jones Newswires

05-08-24 1315ET