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Bonds prepare for rate hike while US stocks drift lower

NEW YORK — The bond market swung Friday as investors built bets that the Federal Reserve may hike interest rates soon to get the nation’s high inflation under control. U.S. stocks, meanwhile, dipped but not by much after economists said a speech by Chairman Kevin Warsh helped strengthen faith that the Fed will do what’s needed to bring inflation down, even if it causes pain for the economy in the short term. The S&P 500 fell 0.2% after flipping between modest gains and losses through the morning. The Dow Jones Industrial Average dipped 9 points, or less than 0.1%, and the Nasdaq ...

Inflation gauge remains elevated during trade war

WASHINGTON — An inflation measure closely watched by the Federal Reserve stayed elevated last month in the latest sign that many Americans are still struggling with higher costs. Stubbornly high prices are shaping up to be a key issue in the midterm elections, now just 10 weeks away, ...

Briefcase: Sheetz For the Kidz raised more than $1.2M

Sheetz Inc. raised $1,249,710 during its in-store giving campaign this past July for Sheetz For the Kidz. The record-breaking total marks Sheetz For the Kidz’s largest monthly fundraising effort to date and the second consecutive year the organization has surpassed $1 million during its annual July campaign. Every year, during the months of July and December, customers at all Sheetz’s 850-plus stores can donate to Sheetz For the Kidz at checkout, either through donation boxes or by adding a gift to their purchase. These funds support local kids in need with clothes, toys and more ...

Ticker: Strong AI chip demand fuels Nvidia’s Q2 results

Nvidia’s latest quarterly results once again blew past Wall Street’s expectations as revenue for the computer chip company’s high-end artificial intelligence chips soared, the latest sign that AI infrastructure spending remains strong. The company on Wednesday reported net income of $59.69 billion, or $2.46 per share, for the May-July period. Excluding certain items, earnings were $2.22 per share, well above the $2.09 per share consensus forecast by Wall Street analysts, according to FactSet. Revenue more than doubled from a year earlier to $96.22 billion, surpassing analysts’ ...

Falling oil prices help calm both stock, bond markets

NEW YORK — Oil prices fell again on Tuesday, which helped ease worries in the bond market and support stock prices. The S&P 500 rose 0.3% and edged a bit closer to its all-time high set earlier this month. The Dow Jones Industrial Average added 160 points, or 0.3%, and the Nasdaq composite ...

Target faces backlash over costumes

Retailer Target pulled a children’s Halloween costume from its shelves Monday after widespread social media backlash, apologizing for selling a garment critics said evoked racist minstrel caricatures. Critics say the costume, along with its promotional image of a Black child modeling the get-up, is reminiscent of caricatures from Jim Crow-era minstrel shows that embedded stereotypes into popular culture and helped justify discrimination, segregation and racial violence. “As a company, we know we got this wrong, and we are deeply sorry. The costume is offensive and should never have ...