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The company is targeting a massive $2 billion quarterly revenue run rate within two years, driven by increasing demand for optical solutions for advanced AI workloads.
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Most officials at the U.S. central bank still expect at least one quarter-point cut to interest rates this year.
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Cesar Chavez abused girls, raped fellow labor icon Dolores Huerta, newspaper investigation finds Los Angeles TimesCesar Chavez, a Civil Rights Icon, Is Accused of Abusing Girls for Years The New York TimesLawmakers and community leaders react to ‘indefensible' César Chávez sexual abuse allegations The GuardianAnother César Chávez march in Texas canceled, Dolores Huerta dropped out San Antonio Express-News
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Macy's posted solid fourth-quarter results as it tries to revamp some stores and close others.
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Stocks stabilized Wednesday after Tuesday's hotter-than-expected inflation data sparked Wall Street's worst selloff in over two years.
Inflation remained in focus today with the early morning release of the producer price index (PPI) for August. Similar to yesterday's consumer price index (CPI), the PPI - which measures what suppliers are charging for goods and services - rose at a slower annual clip in August than it did in July. However, on a month-over-month basis, both PPI and core PPI, which excludes energy and food prices, were up from July's figures.
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"There is a divergence in headline and core inflation building, where headline is cooling and core is heating up," says Jamie Cox, managing partner at Harris Financial Group. "That's an odd phenomenon and likely influenced by the shift from goods to services post-pandemic. The Fed should proceed with caution and not hit the emergency brake on rate hikes."
While yesterday's selling was broad-based, today's action was more mixed. In terms of sector performance, real estate (-1.2%) and materials (-1.2%) were the biggest laggards, while energy ( 2.8%) outperformed as U.S. crude futures rose 1.3% to settle at $88.48 per barrel.
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As for the major indexes, the Nasdaq Composite ended up 0.7% at 11,719, while the S&P 500 Index ( 0.3% at 3,946) and the Dow Jones Industrial Average ( 0.1% at 31,135) also finished with mode
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