Barclays sees NKE surge more than 20% after the apparel giant’s latest earnings report

According to Barclays, now is the time to buy Nike stock. Analyst Adrienne Yih upgraded the stock to overweight from hold and raised her price target, saying strong performance from Nike’s latest earnings showed the athletic apparel retailer was getting back to its long-term goals — despite some softness in the Chinese market . “Despite … Read more

Here’s everything the Fed is expected to do on Wednesday

Jerome Powell, Chairman of the Federal Reserve. Bloomberg | Bloomberg | Getty Images The U.S. central bank will wrap up a two-day meeting on Wednesday filled with uncertainty as it works to reduce inflation and stabilize a troubled banking sector. Right now, the two goals appear to be in conflict: lowering inflation requires equally higher … Read more

Latest news on Russia and the war in Ukraine

Deaths reported in Kyiv after drone strike Kyiv in the evening. Nurphoto | Nurphoto | Getty Images At least four people have died following a Russian drone strike on the Ukrainian capital Kyiv in the early hours of Wednesday morning. Head of Kyiv’s regional police Andriy Nebytov said on Telegram that “another dead person was … Read more

Euro rises after ECB’s Lagarde says inflation remains too high

European Central Bank (ECB) President Christine Lagarde announced a new monetary policy decision. Frederick Florin | AFP | Getty Images this EUR The exchange rate was higher against the dollar on Wednesday, following the European Central Bank President Christine Lagarde thinks inflation “remains high.” The euro was up around 0.2% against the dollar at around … Read more

Germany to introduce bill to legalize possession and sale of marijuana

Germany plans to legalize cannabis for adult use, one of a series of socially progressive policies proposed by Chancellor Olaf Schulz’s “traffic light” coalition government. Image Alliance | Getty Images BERLIN — Germany could still be weeks away from introducing a bill to legalize marijuana through sweeping reforms that would give the green light to … Read more

Revenue surges, company touts EV sales

Chinese automaker auspicious That beat revenue forecasts for 2022, sending shares soaring Wednesday. Geely shares soared as much as 7 percent at one point before closing nearly 3 percent higher than the previous session’s close. Geely reports its Revenue Soars 45.6% in 2022 It was up 148 billion yuan ($21.49 billion) year-on-year, with profit rising … Read more

China and Russia confirm multi-year economic cooperation

Chinese President Xi Jinping and Russian President Vladimir Putin toast at a reception after their talks at the Kremlin in Moscow, March 21, 2023. Pavel Birkin | AFP | Getty Images Beijing – President of China Xi Jinping and the president of russia vladimir putin The two countries said on Wednesday they had agreed to … Read more

PIMCO fund, others hit by Credit Suisse AT1 writedown

Many funds could face investment losses of more than $100 million after Credit Suisse and rival UBS were forced to merge. The funds faced losses on Credit Suisse Additional Tier 1 bonds (AT1) after Swiss regulators deemed the bonds worthless as part of an emergency merger, according to an analysis by CNBC Pro. Additional Tier … Read more