Union Pacific Stock Surges as Earnings Top Expectations, Thanks to Falling Fuel Costs
Union Pacific shares surged Thursday after the big freight carrier posted better-than-expected earnings as its costs for fuel declined.
Union Pacific shares surged Thursday after the big freight carrier posted better-than-expected earnings as its costs for fuel declined.
Elevance Health reported stronger-than-expected results and raised its dividend as it benefited from higher premiums, acquisitions, and growth in its pharmacy division.
U.S. stocks are drifting near a record on Thursday amid a relatively quiet day on Wall Street. The S&P 500 was virtually unchanged in morning trading after pulling to the edge of its all-time high Wednesday following its sixth gain in seven days. Movements were also mostly quiet in markets abroad, even after China’s latest attempt to juice stock prices in the world’s second-largest economy.
Alaska Air Group posted better-than-expected fourth-quarter results after it completed its acquisition of Hawaiian Airlines.
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WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits rose marginally last week, suggesting no deterioration in labor market conditions and reinforcing expectations that the Federal Reserve would not cut interest rates next week. The report from the Labor Department on Thursday showed jobless rolls swelling to the highest level in just over three years in early January. "The labor market is historically tight but some sectors are slowing the pace of hirings," said Jeffrey Roach, chief economist at LPL Financial.
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The chief executive of Norway's $1.8 trillion sovereign wealth fund, one of the world's largest investors, said on Thursday that inflationary pressure in the United States was one of the biggest risks to financial markets this year. President Donald Trump has vowed to hit European, Chinese, Canadian and Mexican companies with tariffs, which would likely trigger retaliatory action on U.S. ones. Trump is also rolling back regulation, such as on oil and gas drilling, which is expected to increase economic activity.
TOKYO/LONDON (Reuters) -The dollar traded in narrow ranges against major peers on Thursday as it struggled for direction in the absence of concrete announcements on tariffs from U.S. President Donald Trump. A spate of central bank policy decisions could move currencies over the next week, with the Bank of Japan widely expected to raise interest rates at the end of a two-day meeting on Friday. Rate decisions from the U.S. Federal Reserve and European Central Bank are scheduled for Wednesday and Thursday of next week, respectively.