AMD shares fell Tuesday after Microsoft said the chipmaker's fixes were causing some PCs to freeze. The computer maker halted rolling out the patches, which were a response to the Meltdown attack disclosed last week.
And Target raises its forecast for holiday quarter sales, sending shares to 52-week highs. The discount retailer said results for its full fiscal year would be better than originally expected.
But the holidays weren't happy for everyone. Urban Outfitters saw its shares plunge after forecasting a weaker than expected fourth quarter. And Under Armour got a downgrade from a top analyst, sending the stock down about 5 percent.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
