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Producer Prices Surge 3.4% in February, Delaying Fed Rate Cut Expectations
U.S. producer prices rose 0.7% in February, exceeding forecasts and driving the annual rate to 3.4%. The hotter-than-expected data sent stocks lower and pushed back market expectations for the Federal Reserve's first interest rate cut.
American Airlines Faces Fuel Cost Headwinds Despite Strong Q1 Revenue Outlook
American Airlines stock declined premarket as escalating fuel expenses pressured the travel sector, overshadowing an upgraded Q1 revenue projection of over 10% growth. CEO Robert Isom highlighted strong demand but warned of capacity adjustments if fuel prices persist.
SoFi Shares Dip on Short-Seller Allegations as CEO Boosts Stake
SoFi Technologies shares fell premarket after Muddy Waters took a short position, accusing the company of concealing debt. SoFi rejected the claims as misleading and CEO Anthony Noto bought nearly $500,000 in stock.
Hot PPI Data Rattles Markets Ahead of Fed Decision; Micron Earnings in Focus
U.S. stock futures declined Wednesday following a hotter-than-expected Producer Price Index report for February, casting doubt on the Federal Reserve's rate cut timeline. Investors are focused on the Fed's policy decision and updated projections, with Micron Technology's earnings due after the close.
Ondas Secures $140M Military Deal with INDO Acquisition, Stock Holds Gains
Ondas Holdings completed the acquisition of INDO Earth Moving Ltd., a transaction tied to a $140 million military engineering contract. The company's stock maintained its recent gains in premarket trading following the announcement.
Mastercard's $1.8B BVNK Acquisition Accelerates Corporate Blockchain Adoption
Mastercard has agreed to purchase BVNK for as much as $1.8 billion, marking a major push into stablecoin and blockchain payment infrastructure. The deal coincides with corporate pilots by Citi and Aon using tokenization for trade finance and insurance payments.
U.S. Fuel Prices Surge Despite Crude Oil Retreat
U.S. gasoline and diesel prices climbed sharply this week despite falling crude oil prices, highlighting severe refined product shortages. China's fuel export ban is exacerbating global supply constraints.
SGX Cash-Rich Trio's Dividend Outlook Amid Asian Market Gains
Three Singapore-listed firms with strong balance sheets face questions over future dividend growth. Meanwhile, Asian equities advanced on robust export figures and easing oil prices, with Indian indices showing resilience.
Mortgage Rates Climb, Threatening Spring Housing Momentum
U.S. mortgage rates increased to 6.29% this week, reversing a brief dip below 6% and threatening the spring housing market's early momentum. California's median home price reached $830,370 in February, with sales remaining below 300,000 for the 41st consecutive month.
Bank of America Gains as Fed Outlook Firms, Legal Settlement Looms
Bank of America shares advanced 0.5% to $47.28, stabilizing after a sector selloff. Investors now anticipate only one Fed rate cut this year, impacting bank profit models. The bank also reached a settlement in principle over Jeffrey Epstein-related claims.