How Costco became a staple of Asian America

Durian at a Costco Wholesale location in Woodland Hills, California. April 24, 2022. Wendy Leung Wendy Leung rarely saw durian in grocery stores growing up in Los Angeles, but the 45-year-old nonprofit worker found the fruit at her local Costco Wholesale in San Fernando Valley this April. Durian is used in Southeast Asian cuisines and … Read more

First-quarter GDP declined 1.5%, worse than thought; jobless claims climb

A ‘We’re Hiring!’ sign is posted at a Starbucks in Los Angeles, California. Mario Tama | Getty Images The US economic contraction to start the year was worse than expected as weak business and private investment failed to offset strong consumer spending, the Commerce Department reported Thursday. First-quarter GDP declined at a 1.5% annual pace, … Read more

Thursday top Wall Street calls: Tesla, Lululemon, Apple, Amazon

Here are Thursday’s biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said in a note Wednesday night that reports of iPhone 14 delays are overblown. “Our supply chain checks do not indicate delays, and looking at past flagship iPhone launches, there’s minimal impact to FY shipments or AAPL stock performance … Read more

Macy’s, Twitter, Medtronic and more

Check out the companies making headlines before the bell: Macy’s (M) – Macy’s surged 15% in the premarket after reporting better-than-expected profit and revenue for the first quarter and raising its full-year earnings forecast. Results got a boost from strong apparel demand as people returned to work and other out-of-home activities. Dollar General (DG) – … Read more

Treasury yields fall following Fed minutes

US Treasury yields fell on Thursday morning, as investors digested the latest Federal Reserve meeting minutes. The yield on the benchmark 10-year Treasury note ebbed 3 basis points to 2.7165% at 3:45 am ET. The yield on the 30-year Treasury bond moved 2 basis points lower to 2.9412%. Yields move inversely to prices and 1 … Read more

U.S. Fed minutes point to more rate hikes ahead

Stock picks and investing trends from CNBC Pro: US Fed minutes released Wednesday showed officials are prepared to move ahead with several 50 basis point interest rate hikes. The Federal Open Market Committee also said policy may have to move away from “neutral” and into “restrictive” territory. Shares on Wall Street rose following the release … Read more

Nasdaq 100 futures fall after chip giant Nvidia delivers light guidance

A trader works at the New York Stock Exchange NYSE in New York, the United States, May 18, 2022. Michael Nagle | Xinhua News Agency | Getty Images Stock futures were mixed on Wednesday evening as investors digested a disappointing update from Nvidia, an economic bellwether in the technology industry. Stock futures tied to the … Read more

Twitter jumps after Musk increases commitment in takeover bid to $33.5 billion, in talks for other funding

Elon Musk, during an event at SpaceX headquarters in Hawthorne, California, US, on Thursday, Oct. 10, 2019. Bloomberg / Getty A new filing reveals that Elon Musk plans to front $ 33.5 billion in his bid to take over Twitter. Musk is in talks with Twitter founder and former CEO Jack Dorsey and others to … Read more

Fed minutes: May 2022 – Monetary policy may move into restrictive territory

Federal Reserve officials earlier this month stressed the need to raise interest rates quickly and possibly more than markets anticipate to tackle a burgeoning inflation problem, meeting minutes released Wednesday showed. Not only did policymakers see the need to raise benchmark borrowing rates by 50 points, but they also said similar hikes likely would be … Read more

Natural gas surges above $9 to highest since 2008 on low inventories

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan. Issei Kato | Reuters Natural gas surged above $ 9 per million British thermal units, or MMBtu, on Wednesday, hitting the highest level in more than a decade as dwindling inventories push prices higher. US prices … Read more