EIA Reports 3.4M Barrels Decline in US Crude Inventories
(EIA) The stockpiles of commercial crude oil in the US were 420.8 million barrels in the week that ended May 13, a decline of 3.4 million barrels from the previous…
US Housing Authorization, Starts, and Completions Fall in April as Costs Rise
(Census Bureau) The total authorized private-owned housing units stood at an annual rate of 1.819 million in April, a decline of 3.2% from March. The permits are still 3.1% higher…
TJX Soars After Q1 2023 Earnings Surpass Estimates
(TJX) Shares of TJX Companies Inc. soared more than 8% on Wednesday after reporting an income of $587.5 million or 49 cents per share in the first quarter of 2023.…
US Mortgage Rate Eases to 5.49% but Applications Decline by Double Digits
(CNBC) The rate on the 30-year mortgage in the US slowed to 5.49% last week from 5.53% amid a decline in the number of people seeking financing to purchase a…
Target Falls 24% as Q1 2022 Earnings More Than Halves to $1.009B
(Target) Shares of Target Corporation fell more than 24% in premarket on Wednesday after net earnings fell by 51.9% from the prior year to $1.009 billion. Target grew sales by…
Lowe’s Reports Lower Sales of $23.8B in the First Quarter of 2022
(Lowes) Lowe’s sales in the first quarter of 2022 came at $23.7 billion, lower than sales of $24.4 billion in the comparable quarter of 2021. Comparable sales fell 4.0%. Lowe’s…
UK Annual Inflation Accelerates by 9% in April
(ONS) The UK Consumer Prices Index surged by 9% in the 12 months to April 2022, accelerating from an increase of 7.0% in March. Including owner occupiers’ housing costs, inflation…
Do Kwon’s Proposal for Hard Fork Faces Community Dissent
(Zycrypto) The Terra community is not excited about a proposal by co-founder Do Kwon to fork the blockchain into two. Reports indicate that ahead of the governance voting on May…
Netflix, Rivian Among Names Tiger Global Is Letting Go After Tech Rout
(FT) The total value of public stock holdings by Tiger Global fell by $20 billion at the end of the first quarter from the close of 2021 as the hedge…
US Homebuilder Sentiment Falls by 8 Points in May to the Lowest in Almost 2 Years
(NAHB) The homebuilder sentiment in the US dropped by 8 points to 69 in May, its lowest level since June 2020. The builder sentiment decline happens for the fifth consecutive…
US Retail Sales Increase by 0.9% in April on Rising Costs
(Census Bureau) The US posted total retail and food services sales of $677.7 billion in April, up 0.9% from the previous month. The increase in retail sales was marginally lower…
Walmart Stock Crashes 6% as Q1 2023 Earnings Come Lower Than Expected
(Walmart) Shares of Walmart fell more than 6% on Tuesday after reporting adjusted earnings per share of $1.30 in the first quarter of FY23. The earnings were below forecasts of…
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