Wall Street closes lower as Fed officials project rate hikes for 2023
June 16 - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.The Fed cited an impr
Tesla Bulls Look for Stock Catalysts. They Found Three.
Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.That performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst Adam Jonas in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bu
AMC jumped more than 15%, other 'meme stocks' mixed
June 14 - Shares of AMC Entertainment Holdings shot higher on Monday, setting the stage for another week of roller-coaster trading in shares of the theater chain operator and other retail investor favorites.AMC’s shares were recently up 15.38% at around $57 after edging 3% higher last week. The company said in a filing last week that over 80% of its shares were held by retail investors.Rallies in AMC and video game retailer GameStop, as well as a fresh crop of so-called meme stocks - companies