Stocks choppy, Roku tumbles, Deere boosts outlook : LIVE UPDATES
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New York Federal Reserve President John Williams talks March rate hike
| Symbol | Price | Change | %Change |
|---|---|---|---|
| SPY | $435.47 | -1.61 | -0.37% |
Prepared Remarks reviewed by FOX Business:
“But with today’s strong economy and inflation that is well above our 2 percent longer-run goal, it is time to start the process of steadily moving the target range back to more normal levels. In particular, I expect it will be appropriate to raise the target range at our upcoming meeting in March.Once the interest rate increases are underway, the next step will be to start the process of steadily and predictably reducing our holdings of Treasury and mortgage-based securities, which had grown significantly as a result of the purchases that began in March 2020. Last month, the FOMC released a set of principles that will guide that process.3 Assuming the economy develops roughly as I expect, I foresee this process getting started later this year.” said Williams.
Roku shares getting ripped
Roku’s stock is on pace for its worst percentage drop in history.
Midday Market Check
Afternoon selling accelerating for U.S. stocks
Bitcoin ETF Check
Bitcoin breaks below $40,000 level
Bitcoin is getting battered along with stocks as investor rotate out of riskier assets
U.S. Stock Check
Stocks and oil slide amid Russia, Ukraine uncertainty
Investors continue to take a cautious view of U.S. stocks as Russia, Ukraine tensions mount.
Stocks futures little changed, oil retreats
U.S. equity futures were little changed on Friday as investors kept a close eye on escalating worries over the possibility Russia may invade Ukraine.
Oil fell to the $90 per barrel level.
Deere lifts profit view on price hikes, strong farm equipment demand
Deere & Co raised its annual profit forecast on Friday, as the world’s largest farm equipment maker expects a boost to margins from price hikes and solid demand for its tractors and combines.
Record grain prices have put more cash in farmers’ pockets and spurred them to increase investments in agricultural machinery amid a tight labor market. The U.S. Department of Agriculture estimated net farm income to have risen 25% to $23.9 billion in 2021.
Deere raised prices to combat rising shipping and supply chain costs, but that has not deterred demand, with the company’s North American order books full for most of its large farm equipment in 2022.
Roku shares plunge in premarket after revenue misses on supply chain snags
Roku Inc. reported quarterly revenue on Thursday that missed estimates, as the company was hit by supply chain issues that affected sales of television sets and its own streaming devices.
Roku said it expects current-quarter revenue of $720 million, compared with analysts’ estimates of $748.5…
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