Tesla capped its breakout year with a record profit that still fell short of analysts forecasts, sending its shares lower in after-hours trading. The electric car maker reported fourth quarter adjusted income of $903 million, excluding special items, more than double its earnings a year ago but short of the $1.1 billion forecast by analysts.…… MORE
The Federal Reserve left interest rates unchanged Wednesday and assured investors that there are no near-term plans to raise them. Interest rates are expected to stay at current record lows for the foreseeable future to facilitate this recovery, and the central bank isn’t concerned that inflation pressure will get in the way of that. Some…… MORE
The GameStop frenzy on Wall Street has investors, and much of the internet, enraptured — not unlike a good horror movie. Everyone knows doom is just around the corner for some key players; a lucky few will emerge stronger; and the monster might be subdued but will ultimately come back for a sequel. The cast…… MORE
Ben & Jerry’s two co-founders want to make it easier for Americans to sue police officers who abuse their authority, a move that reform advocates say is a key step towards substantive police reform. Ben Cohen and Jerry Greenfield made their views clear during a virtual press conference Tuesday announcing the new campaign to end…… MORE
Economists are grading on a curve. That’s not a good thing if you’re former President Donald Trump. US gross domestic product, the broadest measure of economic activity, is forecast to have grown at an annualized rate of 4% between October and December. In a normal year, that would be something to celebrate — an A+…… MORE
Welcome to the Reddit market. A group on Reddit’s Wall Street Bets board have been promoting a number of stocks, hoping to squeeze short sellers that have been betting against them. They’re succeeding. Their best-known bet is GameStop, which is up another 100% Wednesday after nearly doubling Tuesday and soaring 685% this year. Today’s target:…… MORE
Boeing closed the books on its worst year ever, posting record losses and plunging sales on the backs of combined crises: the Covid-19 pandemic and the problems getting the 737 Max back in the air. The company’s loss from operations climbed to $12.8 billion, up from nearly $2 billion a year ago, which was Boeing’s…… MORE
Earnings from some of the biggest US technology companies could push the market to new highs as talk of a stock bubble continues to ripple through Wall Street. What’s happening: Investors who think soaring valuations are grounded in reality point to future profits from the likes of Apple and Facebook, which report results from last…… MORE
Federal Reserve chair Jerome Powell and his predecessor Janet Yellen, now the first woman to serve as Treasury secretary, are both known for their dovish stances on inflation. That suggests they are unlikely to be in any particular hurry to push for higher interest rates. And with the economy still struggling due to Covid-19, neither…… MORE
President Joe Biden is cracking down on the oil-and-gas industry, but he is not taking the extreme steps the Trump campaign claimed he would last fall. Last week, the Biden administration imposed a 60-day suspension of new oil and gas leasing and drilling permits on federal lands unless the Interior Department’s leaders approved them. Biden…… MORE
