Spot, Space, Lulu, and other items

Check out the latest market movements as several companies have been making headlines in midday trading. Lululemon saw a 2% decline following a downgrade by Wells Fargo to equal weight from overweight. The firm cited the completion of Lululemon’s prior positive catalysts and predicted more muted growth in 2024. On the other hand, shares of…

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Federal Reserve Chair Powell deems it premature to discuss cutting rates and suggests the possibility of more hikes.

Federal Reserve Board Chairman Jerome Powell, in a speech at Spelman College in Atlanta, dismissed market expectations for aggressive interest rate cuts as premature. Powell emphasized that the Federal Open Market Committee intends to keep policy restrictive until inflation is solidly back to 2%. He also stated that they are prepared to tighten policy further…

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October 2023 Report on PCE Inflation

Inflation measured by personal spending rose in October in line with expectations, potentially signaling to the Federal Reserve to hold interest rates steady and consider cutting in 2024, data released on Thursday showed. The personal consumption expenditures price index, excluding food and energy prices, increased by 0.2% for the month and 3.5% year-over-year, according to…

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