News

Luxury furniture retailer RH (NYSE:RH) missed Wall Street’s revenue expectations in Q4 CY2024, but sales rose 10% year on year to $812.4 million. Next quarter’s revenue guidance of $810.6 million underwhelmed, coming in 2.8% below analysts’ estimates. Its non-GAAP profit of $1.58 per share was 17.2% below analysts’ consensus estimates.

US stocks rebounded ahead of President Trump's tariff announcements, but stock futures fell after Trump surprised markets with larger than expected levies.

Short-term interest-rate futures now reflect about a 70% chance of a Fed rate cut when the U.S central bank meets in June, up from about 60% before the tariffs were announced. Before the announcement the contracts showed traders felt the Fed would deliver a total of three rate cuts by December.

WASHINGTON (Reuters) -Rising tariffs in the U.S. could feed into more prolonged inflation than might be expected, Fed Governor Adriana Kugler said on Wednesday, pushing back on views that prices would only rise on imported goods. "There may be reasons why tariffs have more prolonged effects" than simply causing a one-time jump in the price of imported goods, Kugler said. New tariffs already imposed by President Donald Trump, for example, target intermediate goods like aluminum and steel.

Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 5.6% in the afternoon session after Politico reported that Elon Musk may soon step down from his position at the Department of Government Efficiency, indicating a renewed focus on his business ventures, especially Tesla.

Elon Musk's past 24 hours have shown troubling signs for his political and personal fortunes.

Tesla stock fell after poor delivery data, but was getting a boost in midday trade after a report said Elon Musk is set to step back from his intensive role in the Trump administration.