Market observers worry there’s more ugliness ahead, even if stocks are due for a bit of a comeback rally. Stocks continued their sell-off this week, with the S & P 500 briefly dipping into correction territory at one point in a move that could mean that Wall Street is due for a near-term bounce . While the broad market index ended Wednesday higher, the declines resumed on Thursday. In fact, as of midday Thursday, all three of the major averages were on pace for week-to-date losses of more than 4%. Investors, troubled by the current market setup, worry that there’s…
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Ulta Beauty on Thursday issued weak guidance for the year ahead as it navigates a series of internal missteps, rising competition and what it called “consumer uncertainty.”The retailer, which appointed Kecia Steelman as its new CEO in January, said it’s expecting comparable sales to be flat or grow 1% in 2025, while analysts had anticipated they would rise by 1.2%, according to StreetAccount. It’s expecting full-year earnings to be between $22.50 and $22.90, lower than expectations of $23.47, according to LSEG. Ulta is the latest company to forecast a rocky year ahead. While it factored uncertain consumer spending into its guidance, the…
United States Postal Service vehicles seen in New York City on Feb. 13, 2025. Danielle DeVries | CNBCU.S. Postmaster General Louis DeJoy told Congress he signed an agreement with Elon Musk’s DOGE government reform team to provide assistance to the money-losing agency as it works to address “big problems.”USPS, an independent government agency with 635,000 employees that lost $9.5 billion last year, has been exempt from DOGE-directed federal employee reductions. DeJoy told Congress in a letter seen by Reuters that USPS plans to reduce its workforce by 10,000 workers in the next month through a voluntary early retirement program.DeJoy said the…
A screen displays the company logo for Toast Inc. during the company’s initial public offering at the New York Stock Exchange in New York City on Sept. 22, 2021.Brendan Mcdermid | ReutersEconomic concerns are hitting the stock market broadly, but they’re having an outsized impact on fintech companies that are tied closely to consumer spending and small and medium-sized businesses.While the Nasdaq fell 2.1% on Thursday, putting the tech-heavy index on pace for its worst week since September, shares of Shift4, Toast and Bill.com suffered much steeper drops, losing 6.7%, 6.2% and 4%, respectively. President Donald Trump’s disjointed rollout of…
CLEARWATER, Fla. — We’re about a month into 2025 spring training. And it’s still a little weird to think we now live in a world where the Yankees are no longer the Evil Empire.To the untrained eye, maybe it’s tough to notice the difference. But you don’t even have to take my word for it. This news was announced weeks ago, when Yankees owner Hal Steinbrenner said that baseball basically consists of two groups of franchises.1. The Dodgers2. Everybody else — including, obviously, his team“It’s difficult for most of us owners to be able to do the kind of things…
Putin appeared open to a cease-fire with UkrainePresident Vladimir Putin of Russia yesterday seemed to voice preliminary support for a cease-fire, but made it clear he was in no hurry. He said he wanted to continue negotiating with President Trump, but told reporters in Moscow that Russia was in favor of a 30-day truce — with numerous conditions.Among the questions he hopes to address, Putin said, is whether Kyiv would continue getting arms shipments during the truce, and how the cease-fire would be monitored and enforced. He said that Ukrainian forces occupying land in the Kursk region wouldn’t be allowed…
Thursday marked yet another day of the broad market sell-off, and that could provide a buying opportunity for Novo Nordisk and Energy Transfer , according to Tim Seymour of Seymour Asset Management. The firm’s founder and chief investment officer appeared on CNBC’s ” Power Lunch ” on Thursday to share his bullish take on those stocks, as well as one investors should avoid. Here’s what Seymour had to say. Novo Nordisk Shares of global healthcare company Novo Nordisk have pulled back as of late, falling almost 14% in the past week, but Seymour believes it’s “very misunderstood.” “This is a…
Investors looking for a reprieve after a rough stretch for the stock market may end up glued to news out of Washington this weekend, where a potential government shutdown looms. The House of Representatives has passed a continuing resolution to fund the government through September, but its prospects are unclear in the Senate , where the vote-counting math is less favorable to Republicans. The deadline is midnight Friday, which means that the House bill is the only viable option to avoid a shutdown, according to Roman Schweizer, policy analyst at TD Cowen’s Washington Research Group. “The House of Representatives has…
Lars Joergen Kleist, wearing a Make America Great Again hat, queues to vote at the polling station in Nuuk on March 11, 2025, as Greenland, the autonomous Danish territory, holds legislative elections.Odd Andersen | Afp | Getty ImagesThe outgoing prime minister of Greenland blasted talk Thursday by President Donald Trump that the potential annexation of the massive Arctic island by the United States would happen.”The U.S. president has once again aired the thought of annexing us,” Prime Minister Mute Egede wrote in a Facebook post.”Don’t keep treating us with disrespect. Enough is enough,” Egede wrote.The prime minister wrote that he…
PORTLAND, Ore. — When the Portland Trail Blazers were in Utah on Feb. 24, there was a special meeting after the game. Danny Berger, a 34-year-old former basketball player at Utah State, reconnected with former NBA player and now Blazers assistant coach Ryan Gomes.They met years before in Connecticut at a charity golf tournament held by Gomes, but this meeting before the Jazz game carried some added perspective. In tow with Berger was his wife, Taylor, and two kids, 2 1/2-year-old son Logan and 3-month-old daughter Avery.If it wasn’t for Gomes, Danny Berger likely wouldn’t be here today. No reunion.…
