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Carvana's wild ride: From one of the most heavily shorted stocks to S&P 500 inclusion Seeking AlphaCarvana, CRH, Comfort Systems to join S&P 500 in rebalancing Yahoo FinanceMajor used-car retailer gets set to join the S&P 500 TheStreetCarvana stock soars after S&P 500 inclusion announcement Investing.comCarvana ge
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The cash-and-stock deal would give the world's largest paid streaming service expansive power over theater owners and entertainment-industry unions.
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A screen of 11 off-price retailers shows Five Below with the fastest sales growth, but analysts see the most upside in Burlington Stores' stock.
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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