Wall Street Today | Coca-Cola says consumers may start rejecting price hikes
Stocks, bonds roiled by growing Fed rate-hike bets
Stocks and bonds in Asia are set to come under pressure Friday after Treasuries and Wall Street shares sank on a jump in U.S. inflation to a fresh four-decade high that stirred hawkish Federal Reserve comments.
The U.S. two-year Treasury yield posted its biggest one-day surge since 2009 amid sharp losses across a flattening curve, a mix that suggests investors expect slowing economic growth alongside aggressive Fed steps to curb price pressures. Australia's three-year yield hit the highest since 2019.
Goldman Sachs says peak is in sight for emerging-market hike cycle
A cycle of widespread aggressive rate increases in emerging markets looks to be reaching its peak, according to Goldman Sachs Asset Management.
Over the next three months, the proportion of authorities still tightening policy in developing nations could drop closer to 50% from about 70% currently, strategists at the money manager said, citing an in-house model.
Kellogg, Coca-Cola say consumers may start rejecting price hikes
Companies' ability to keep raising prices could be coming to an end, $Kellanova(K.US$ and $Coca-Cola(KO.US$ warned on Thursday.
Both companies, like many peers, have started charging more to cope with supply-chain snarls, a labor shortage and higher commodity costs. While consumers haven't balked at the hikes as sharply as in the past, Kellogg Chief Executive Officer Steven Cahillane said the benign reaction won't last.
Samsung held an event in the metaverse. And it didn't quite go to plan
The South Korean tech giant hosted the event on Decentraland, a cryptocurrency-focused virtual world that users can create, explore and trade in. Decentraland, one of many metaverse efforts, is accessed via a desktop browser.
Unfortunately, a technical issue in one of Decentraland's realms prevented some people from accessing the event.
Affirm shares plummet 21% after company releases financial results early
$Affirm Holdings(AFRM.US$ stock dropped on Thursday after the company reported fiscal second-quarter results ahead of schedule. Its outlook for the year came up short versus analyst expectations, driving the stock lower.
Affirm said in another twitter later Thursday that its inadvertent release of financial results was due to human error.
Binance, led by the world's richest crypto billionaire, is taking a $200 million stake in Forbes
The funds will help Forbes execute on its plan to merge with a publicly traded special purpose acquisition company, or SPAC, in the first quarter, according to people with knowledge of the deal.
Binance will replace half of the $400 million in commitments from institutional investors announced earlier, making it one of the top two biggest owners of Forbes after its listing, the people said.
Soaring used vehicle prices haven't cooled demand yet, Group 1 Automotive CEO says
Demand for used cars remains strong even though the price of preowned vehicles has soared throughout the Covid pandemic, $Group 1 Automotive(GPI.US$ CEO Earl Hesterberg told CNBC on Thursday. Hesterberg said the current mindset that now is the "best time ever" to sell a car has both helped and complicated building up Group 1′s used vehicle fleet.
Group 1 was at 36 days of used vehicle inventory in December compared to 32 days in 2020, while new vehicle inventory was at 9 days compared to 48 days the year before.
Traders bet on half-point Fed hike, taking 10-year yield past 2%
Treasury yields soared as traders ramped up wagers the Fed will raise interest rates a full percentage point over its next three meetings, reflecting growing conviction that surging inflation will drive the bank to enact its single biggest hike in over two decades.
Two-year Treasury yield endures largest jump since 2009.
Source: Bloomberg, CNBC
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70957320 : Late to the party; Kellogg’s & Coke products have been reheated for quite awhile relating to ‘WOKEISM’ & anti-Americanism… Haven’t purchased either products (knowingly) for well over 5+ years…
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