Dollar General recently faced a significant setback as its shares took a steep decline following the company’s decision to revise its sales and profit forecasts for the year. The lower-income customers targeted by the discount retailer seem to be grappling with financial constraints in the current economic climate. This drop in same-store sales projections has
Finance
Chinese President Xi Jinping emphasized the importance of a stable and healthy China-U.S. relationship during a meeting with U.S. national security advisor Jake Sullivan. He expressed hope that Washington would find “a right way” to get along with Beijing. Despite escalating tensions between the two countries in recent years, Xi reiterated China’s commitment to fostering
In the competitive world of electric vehicles, Chinese companies are not just battling for market share based on pricing but are also focusing on technological advancements. One such area of intense competition is the development of in-house designed auto chips to power tech features like driver-assist functions. This shift marks a strategic move by companies
The White House recently announced that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call in the “coming weeks.” This development comes in the midst of U.S. National Security Adviser Jake Sullivan’s visit to Beijing to meet with China’s top diplomat, Wang Yi. Additionally, both countries have confirmed
Xpeng, a Chinese electric car company, made waves in the automotive industry with the launch of its new mass-market Mona brand. The Mona M03 electric coupe, priced at $16,812, garnered over 10,000 orders within just 52 minutes of its official debut in Beijing. This move by Xpeng positioned the company as a formidable player in
The Russell 2000 index has experienced significant volatility recently, with a 4% drop in August following a 10.1% gain in July. The erratic movements can be attributed to the composition of the index, with Apollo Global estimating that 40% of the companies included have negative earnings. This has raised concerns among investors about the overall
With the Federal Reserve’s interest rate decision looming in September, investors are turning their attention towards dividend stocks as a sound investment strategy. Paul Baiocchi, the chief ETF strategist at SS&C ALPS Advisors, believes that the Fed will ease rates, leading investors to move away from money markets and fixed income towards companies that may
The forthcoming policy speech by Federal Reserve Chair Jerome Powell at the annual conclave of global central bankers in Jackson Hole, Wyoming has sparked significant anticipation in financial markets. Despite the prevalent consensus that the Fed will initiate a cycle of rate cuts starting in September, the nuances and specifics of the impending monetary policy
During his keynote address at the Federal Reserve’s annual retreat in Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts in the near future. He emphasized the need for policy adjustments and highlighted the importance of incoming data, the evolving economic outlook, and the balance of risks in determining the
Philadelphia Federal Reserve President Patrick Harker recently expressed a strong endorsement for an interest rate cut in September while speaking to CNBC at the Fed’s annual retreat in Jackson Hole, Wyoming. Harker’s direct statement signals a high probability of monetary policy easing during the upcoming meeting of central bank officials. He emphasized the need to