Paychex’s stock rose Wednesday after the human-resources services company reported quarterly profit that rose above expectations.
The Ratings Game: This is why Costco shares are down despite fourth-quarter beat
Costco’s fourth-quarter results topped Wall Street’s estimates after market close Tuesday
Europe Markets: ‘Retail was technology’s first casualty and we think offices are next.’ Jefferies lowers rating on property firms.
Shares in London-focused real estate groups fell after Jefferies downgraded much of the sector as the work-from-home trend creates a surplus of space.
Economic Report: U.S. durable-goods orders climb on higher military spending
Orders for long-lasting goods rose a stronger-than-expected 0.2% in August, but the increase mostly stemmed from higher defense spending.
: Amgen discloses more than $400 million stake in recent IPO Neumora Therapeutics
An Amgen disclosure of a large stake in Neumora Therapeutics indicated the value of its investment in the biotech, which recently went public, has tripled.
: Elon Musk says UAW demands will ‘bankrupt’ auto makers ‘in the fast lane’
Tesla chief executive say on X (formerly Twitter) that wage boosts and shorter work week will cause GM, Ford and Stellantis to go bankrupt quickly.
The Margin: Kansas City Chiefs ticket sales and searches have tripled since Taylor Swift became a fan, StubHub says
Seats for Kansas City Chiefs games are becoming a hot item now that the pop star was seen cheering on Travis Kelce, the team’s tight end
Futures Movers: Oil extends march toward $100 a barrel after U.S. crude drawdown
U.S. oil futures end at a nearly 13-month high Wednesday after official data showed a drop in U.S. crude supplies last week.
Economic Report: Home-buying demand falls as mortgage rates reach multi-decade highs
Mortgage applications fell 1.3% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.41%.
Market Extra: OPEC can’t control long-term prices, and other lessons from departing Goldman commodity research chief Jeff Currie
Jeff Currie is leaving Goldman Sachs as head of its commodities research term after 27 high-profile years, in a fairwell gift, its commodities team produced 10 lessons learned.
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