Dollar General, a discount retailer catering to lower-income customers, faced a significant setback as its shares plummeted by 25% following a revision in its sales and profit forecast for the fiscal year. The company, which predominantly serves rural areas, now anticipates only a 1.0% to 1.6% increase in same-store sales for the year, much lower
Finance
During a recent meeting between Chinese President Xi Jinping and U.S. national security advisor Jake Sullivan, President Xi emphasized the importance of finding a way for China and the United States to coexist peacefully. President Xi reiterated China’s commitment to maintaining a stable and healthy relationship with the U.S., despite escalating tensions in recent years.
Chinese electric car companies are embroiled in a fierce battle, not only on prices but also on technological frontiers. Nio and Xpeng have taken a bold step by announcing the readiness of their in-house designed auto chips for production. This move marks a departure from the reliance on Nvidia chips, a common practice among many
The news of U.S. President Joe Biden and Chinese President Xi Jinping scheduled to speak over the phone in the “coming weeks” has sparked interest and speculation. This announcement came amidst U.S. national security adviser Jake Sullivan’s recent trip to Beijing to meet with China’s top diplomat, Wang Yi. Both sides have also mentioned plans
Xpeng, a Chinese electric car company, made waves in the industry with the launch of its new mass-market Mona brand, offering electric coupe models with prices starting as low as $16,812. This competitive pricing significantly undercuts Tesla’s cheapest Model 3, making it an attractive option for budget-conscious consumers. The response to the Mona M03 electric
The recent performance of the Russell 2000 index has raised concerns about its profitability. Despite gaining 10.1% in July, the index has dropped around 4% in August. ALPS’ Paul Baiocchi attributes these volatile movements to the composition of the index, with an estimated 40% of companies having negative earnings. This has led investors to accept
As the financial world anxiously awaits Federal Reserve Chair Jerome Powell’s policy speech, it is clear that the market has already made up its mind. The Fed is expected to begin cutting rates in September, with the trend likely to continue into 2025. While there is still some speculation about the scale and frequency of
In anticipation of the Federal Reserve’s interest rate decision in September, more investors are turning their attention towards dividend stocks. This strategic move is being suggested by Paul Baiocchi of SS&C ALPS Advisors, who believes that the Fed will likely ease rates. Baiocchi, the chief ETF strategist, highlighted that investors are veering away from money
Federal Reserve Chair Jerome Powell recently addressed the nation at the Fed’s annual retreat in Jackson Hole, Wyoming. During his speech, Powell emphasized the need for policy adjustments to be made in the near future. While he did not provide specific details on the timing or extent of these adjustments, he made it clear that
Philadelphia Federal Reserve President Patrick Harker has recently spoken out in favor of an interest rate cut in September, providing a strong endorsement for the move. His statement during the Fed’s annual retreat in Jackson Hole, Wyoming, indicated a high level of confidence in the necessity of monetary policy easing in the near future. This