Stocks (^DJI, ^IXIC, ^GSPC) seek to recover after hotter-than-expected CPI inflation data spurred a market sell-off on Tuesday. Lyft (LYFT) shares continue to soar in pre-market trading after reporting fourth-quarter earnings results and first-quarter guidance yesterday, a report that included a "clerical error" on its full-year outlook. Lastly, Airbnb (ABNB) stock slips on its mixed earnings results citing demand moderation. 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.
Stocks (^DJI, ^IXIC, ^GSPC) seek to recover after hotter-than-expected CPI inflation data spurred a market sell-off on Tuesday.
Lyft (LYFT) shares continue to soar in pre-market trading after reporting fourth-quarter earnings results and first-quarter guidance yesterday, a report that included a "clerical error" on its full-year outlook.
Lastly, Airbnb (ABNB) stock slips on its mixed earnings results citing demand moderation.
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.
Barrons.com
Japanese stocks followed Tuesday’s move lower in U.S. stocks, while European indexes were rebounding. The Nikkei closed down 0.7%, though it’s still trading near its highest level since 1990. Chinese markets are closed for the Lunar New Year holiday.
Reuters
Companies need to ensure they are disclosing accurate information, especially if they are using artificial intelligence, the head of the U.S. Securities and Exchange Commission said on Wednesday after Lyft was forced to correct a major forecast error. SEC chair Gary Gensler, asked about the incident, told CNBC in an interview that he could not comment on any specific case but that in general companies have a responsibility to ensure they release correct details about themselves and their finances. Rideshare company Lyft's forecast error in a press release on Tuesday briefly sent its shares up 67% before the mistake was corrected, with analysts and experts on Wednesday saying the incident could invite scrutiny.
The Wall Street Journal
↗️ [**Lyft (LYFT)**](https://www.wsj.com/market-data/quotes/LYFT): Shares soared over 60% in after-hours trading after Lyft's earnings release accidentally [added an extra zero](https://www.wsj.com/business/earnings/lyft-earnings-typo-sends-stock-soaring-9b4ad02b) to a profitability metric.
Bloomberg
(Bloomberg) -- Uber Technologies Inc. will buy back as much as $7 billion in shares to return capital to shareholders after reporting its first full year of operating profit and consistent positive free cash flow in 2023.Most Read from BloombergMusk Says Putin Can’t Lose in Ukraine, Opposes Senate BillThe Brutal Reality of Plunging Office Values Is HereStock Futures Reclaim Solid Ground After CPI Miss: Markets WrapStanChart Weighs Break Up of Corporate, Investment BankDemocrat Tom Suozzi Wins Ne
Bloomberg
(Bloomberg) -- US equity futures signaled a rebound from Tuesday’s Wall Street slump triggered by hotter-than-expected US inflation data that fueled bets the Federal Reserve may not cut interest rates as soon as expected. Most Read from BloombergMusk Says Putin Can’t Lose in Ukraine, Opposes Senate BillThe Brutal Reality of Plunging Office Values Is HereStanChart Weighs Break Up of Corporate, Investment BankStock Futures Reclaim Solid Ground After CPI Miss: Markets WrapPutin Seeks Revenge on a W
Reuters
The U.S. government has reimbursed auto dealers for about $135 million in advance point-of-sale consumer electric vehicle tax credit payments since the start of the year through Feb. 6, the Treasury said on Wednesday. Starting Jan. 1, consumers can transfer the credits to a car dealer at the time of sale, effectively lowering the vehicle’s purchase price. The Internal Revenue Service has received more than 25,000 time of sale reports, including more than 19,500 - or 78% - with advance payment requests and approximately $135 million has been paid to dealers since Jan. 1, Treasury said in disclosing the previously unreported figures.
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