Jack Pitcher
speaker
112 appearances
3 recordings
1 series
first heard Aug 2024
last heard Nov 2024
Jack Pitcher’s voice in public audio — every appearance, attributed to the second.
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Appearances
The turmoil we saw earlier this month, investors have all but forgotten about it.
After recent data helped reassure investors that the U.S.
economy is not on the brink of recession, the Federal Reserve took another step toward delivering the Goldilocks scenario they've been hoping for.
In a speech at the annual Jackson Hole Conference on Friday morning, Fed Chair Jerome Powell declared that the time has come for rate cuts.
It was his strongest signal yet that the Fed will slash interest rates at next month's meeting.
Friday's speech suggested the Fed had seen enough data to be confident that inflation is coming under control.
Powell said that the labor market has cooled and the Fed doesn't want it to cool further.
Investors cheered the news that borrowing costs should drop soon, sending the S&P 500 up to trade near a record.
Each of the three major indexes built upon their biggest gains of the year posted last week.
The S&P 500 gained 1.5% this week, while the Dow Jones Industrial Average rose 1.3%, and the Nasdaq Composite ended 1.4% higher.
It's not just the central bank keeping an eye on prices.
Target snapped a streak of sales declines in the most recent quarter, and it says that's because price cuts are driving shoppers through its doors more often.
Profit grew more than analysts had expected, and Target boosted its earnings outlook.
Target sells a lot of necessities like food, as well as trendy items that help boost its profits.
The retailer found itself in an awkward in-between spot as inflation started to bite consumers a few years ago.
More shoppers started favoring the ultra-cheap prices at Walmart.
The latest quarter showed investors that the push to lower prices is working and consumers still have enough money to spend on some splurge items.
Target shares closed up 9.6% on the week after jumping 10% Wednesday when it reported earnings.
The retailer was among the S&P 500's best performers this week.
It looks like everyone's favorite pandemic exercise bike company is also staging a turnaround, albeit a smaller one.
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