U.S. stocks end lower ahead of inflation report
Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.
U.S. Chamber group urges quick U.S., EU action to end tariffs, adopt privacy shield
The U.S. Chamber of Commerce on Wednesday urged the United States and European Union to quickly resolve their disputes over steel and aluminum tariffs and aircraft subsidies, and adopt a new privacy shield to better coordinate digital policy.
Clover Health shares tumble in another wild day for meme stocks
Shares of Clover Health Investments Corp (CLOV.O) slid on Wednesday, a day after the new retail trader favorite soared about 86%, the latest meme stock to join the frenzy this year.
GameStop gains as traders await quarterly report
GameStop’s (GME.N) stock jumped 7% on Wednesday before the company was due to release its quarterly results, which a cult following of individual investors will scrutinize for progress in the videogame retailer’s turnaround amid this year’s rally in its shares.
Does money grow on volcanoes? El Salvador explores bitcoin mining
El Salvador’s President Nayib Bukele said on Wednesday that he has instructed state-owned geothermal electric firm LaGeo to develop a plan to offer bitcoin mining facilities using renewable energy from the country’s volcanoes.
Payments startup Marqeta valued at over $17 bln in Nasdaq debut
Shares of Marqeta Inc (MQ.O), which provides payments services to customers including Uber Technologies Inc (UBER.N) and DoorDashInc, rose more than 20% in their Nasdaq debut, giving the firm a market capitalization of over $17.2 billion.
UPS shares fall as investors fret over post-pandemic growth plan
United Parcel Service Inc (UPS.N) shares fell as much as 6% on Wednesday as the company known for delivering everything from Amazon.com packages to coronavirus vaccines forecast disappointing post-pandemic U.S. margins.
Detroit Three automakers will continue to require facial coverings
Detroit’s Big Three automakers and the United Auto Workers (UAW) union said on Wednesday that workers will continue to be required to wear masks in workplaces.
Morgan Stanley appoints E*Trade leaders to top wealth division jobs
Morgan Stanley (MS.N) appointed several executives from E*Trade to senior roles on Wednesday in a leadership shuffle that brings leaders from the online broker into the top ranks of the firm’s wealth management division, according to a memo seen by Reuters.
U.S. Fed’s reverse repo volume surges to record half a trillion dollars
The Federal Reserve’s reverse repurchase window on Wednesday took in $503 billion in cash, hitting a record peak for a third consecutive session, as financial institutions flush with liquidity flocked to the Fed facility to park their cash and secure Treasury collateral.
