JP Morgan quant who called summer rally says there’s plenty of ammunition to drive stocks higher — and here’s why
- Proceed with caution if you trade stocks based on this popular market signal
- These stock pickers have beaten their benchmark while giving fund holders needed diversification
- Opinion: Evidence for a new bull market in stocks is rapidly piling up
- ‘Latent’ risk of traditional U.S. recession is replacing financial market’s first-half fear of imminent downturn
U.K. consumer confidence falls to record low in August
British consumer confidence fell to a record low in August as cost-of-living pressures and dim economic prospects continued to build.
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Go to Video CenterStarbucks eliminating chief operating officer role after current COO Culver leaves
Starbucks Corp. founder and interim Chief Executive Howard Schultz said late Thursday that the retailer is eliminating the position of Chief Operating Officer, with COO John Culver departing on Oct. 3 and serving as adviser through the end of the year after two decades with the company. "Our reinvention requires us to rethink our leadership structure to create every opportunity for our new CEO and, most importantly, to accelerate delivery of modernized and elevated experiences" for employees and customers, said Schultz, who returned as CEO this year. Starbucks in June said it was on track with its CEO search and that Schultz was agreeing to remain as interim CEO through early 2023. Shares of Starbucks fell 0.2% in the extended session Thursday after ending the regular trading day up 0.2%.
Home Depot's board OKs $15 billion share buyback program
Home Depot Inc. said late Thursday its board has authorized a new $15 billion share buyback program, replacing a previous authorization. In a separate announcement, the specialty retailer said that the board has elected Chief Executive and President Ted Decker as chair, effective Oct. 1. Decker will succeed Craig Menear, who will retire as chair on Sept. 30, the company said. Home Depot named Decker as CEO in January, and at the time also announced that then-CEO Menear would continue to serve as chairman of the board. Home Depot shares rose 1.2% in the extended session Thursday after ending the regular trading day down 0.2%.
Fed confirms Powell will speak at Jackson Hole conference on Friday Aug. 26
The Federal Reserve on Thursday confirmed that Fed Chairman Jerome Powell will speak at the central bank's Jackson Hole summer retreat on Friday Aug. 26 at 10 a.m. Eastern. The topic of Powell's remarks is the economic outlook.