Federal Reserve officials will announce their decision regarding interest rates today, coming out of their March FOMC meeting, as Wall Street tries to guess just how many rate cuts they have planned for 2024. Bitcoin (BTC-USD) prices teeter around the $64,000 mark after the cryptocurrency's drop since reaching an all-time high last week. The Biden administration will be awarding Intel (INTC) $8.5 billion in CHIPS Act grants. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Federal Reserve officials will announce their decision regarding interest rates today, coming out of their March FOMC meeting, as Wall Street tries to guess just how many rate cuts they have planned for 2024.
Bitcoin (BTC-USD) prices teeter around the $64,000 mark after the cryptocurrency's drop since reaching an all-time high last week.
The Biden administration will be awarding Intel (INTC) $8.5 billion in CHIPS Act grants.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Bloomberg
(Bloomberg) -- The US will award Intel Corp. $8.5 billion in grants and as much as $11 billion in loans to help fund an expansion of its semiconductor factories, marking the largest award from a program designed to reinvigorate the domestic chip industry. Most Read from BloombergTrump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New TeamWhat Happens If Trump Can’t Post His $454 Million BondUltra-Wealthy Are Souring on Chicago’s Most Elite NeighborhoodApple Is in Talks to Let Google Gemin
Reuters
Nike is projected to post its first quarterly revenue decline in nearly two years on Thursday, turning the spotlight on the slower-than-expected boost from its direct-to-customer (DTC) strategy and sluggish demand in North America. The sportswear giant has invested in selling more through its own sales channels, including stores and online, instead of increasing inventory at wholesalers to bolster its margins. However, analysts have said that the DTC plan has been hit by stagnant innovation for the Air Jordan maker's sneakers and rising competition from newer brands like On and Decker's Hoka that are grabbing market share in the running category.
The Wall Street Journal
Nomura keeps a neutral call on the stock. 0545 GMT – XPeng may see revenue and deliveries drop slightly on quarter in 1Q due to marketing and supply chain adjustments, Citi analysts say in a research note. 0314 GMT – XPeng’s latest X9 model, its highest-margin EV, should mitigate some of the downside from lower volumes in 1Q, Deutsche Bank Research analysts Edison Yu and Bin Wang say in a research note, after the Chinese EV maker guided for softer 1Q deliveries.
Barrons.com
BioNTech the German company that partnered with Pfizer to create Covid-19 vaccines, was falling early Wednesday after reporting earnings that missed analysts’ expectations. The median estimate in a FactSet survey was for an earnings per share of €2.37. BioNTech has been hit hard as demand for Covid vaccines dried up after the pandemic.
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