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Stock Market Edges Higher as Powell Testifies to Congress

Stock Market Edges Higher as Powell Testifies to Congress

U.S. stocks rose Wednesday after Federal Reserve Chairman Jerome Powell acknowledged the possibility of a recession while discussing the central bank’s efforts to address inflation. The S&P 500 gained 0.6%, while the Dow Jones Industrial Average added 0.4%, or about 121 points. The tech-heavy Nasdaq Composite advanced 0.7%. All three indexes were down in early …

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U.S. Retail Sales Declined in May as Inflation Stings Consumers

U.S. Retail Sales Declined in May as Inflation Stings Consumers

Americans’ retail spending declined in May, as consumers felt the pinch from inflation, higher gasoline prices and rising interest rates. Retail sales—a measure of spending at stores, online and in restaurants—fell a seasonally adjusted 0.3% in May from the previous month, the Commerce Department said Wednesday. That was the first decline in month-over-month retail spending …

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Tesla Faces Upgraded U.S. Probe Into Autopilot in Emergency-Scene Crashes

Tesla Faces Upgraded U.S. Probe Into Autopilot in Emergency-Scene Crashes

U.S. auto-safety regulators have escalated their investigation into emergency-scene crashes involving Tesla Inc.’s TSLA 0.92% Autopilot, a critical step for determining whether to order a safety recall. The National Highway Traffic Safety Administration said in a notice published Thursday that it was expanding a probe begun last August into a series of crashes in which …

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GOP-Led Legislation Would Force Breakup of Google’s Ad Business

GOP-Led Legislation Would Force Breakup of Google’s Ad Business

A bipartisan group of senators led by Utah Republican Mike Lee introduced legislation Thursday that would take aim at conflicts of interest in the advertising technology industry and force Google to break up its dominant online-ad business. The bill, co-sponsored by Sens. Ted Cruz (R., Texas), Amy Klobuchar (D., Minn.) and Richard Blumenthal (D., Conn.), …

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Stock Markets Wobble as Bear Market Looms Over S&P 500

Stock Markets Wobble as Bear Market Looms Over S&P 500

U.S. stocks wavered Thursday on growing worries of an economic slowdown that sent investors into the haven of government bonds. The S&P 500 was recently up about 0.1%, though still close to bear market territory—market shorthand for a 20% fall from a recent high. The index tumbled 4% Wednesday, its biggest one-day retreat since June …

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If you thought Walmart and Target had disappointing results, these retailers did so much worse

If you thought Walmart and Target had disappointing results, these retailers did so much worse

Retail stocks fell hard this week as bellwether companies disappointed investors with sagging profits. And now, a review of retailers sheds light on companies that put up worse numbers than those reported by Target Corp. TGT, -5.04% and Walmart Inc. WMT, -3.02%, both of which shook the industry and dimmed investor sentiment in the past …

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Will the stock market drop 20% or 48% from the peak? Here's the key factor, says this strategist.

Will the stock market drop 20% or 48% from the peak? Here’s the key factor, says this strategist.

“Is the economy under control or is it spiraling out of control? That’s the million-dollar question traders continue arguing over,” sums up CrackedMarket blogger Jani Ziedins. Clearly, the latter argument prevailed — again — after Wall Street’s worst day in two years, and futures hinting of more pain for Thursday. Among the gloomsters, Guggenheim’s Scott …

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