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Breaking News
Microsoft lowers revenue guidance
Microsoft, ahead of the opening bell, lowered its revenue guidance for the 4Q.
“On June 2, 2022, Microsoft Corporation updated our guidance for the quarter ending June 30, 2022 due to unfavorable foreign exchange rate movement in the quarter through May”
The tech-giant now expects to earn as much as $16.7B down from the initial goal of $16.8B.
Breaking News
Ford ramps up Midwest UAW jobs with $3.7B investment
Ford plans to add 6,200 new United Auto Workers Union jobs in Michigan, Ohio and Missouri, the company announced Thursday. The roles will convert 3,000 temporary roles to full-time.
“New jobs expected to create about 74,000 indirect new jobs in America by the end of 2026” the company added.
Stock futures rebound ahead of labor reports
U.S. equity futures traded higher Thursday morning as
equities rebound from Wednesday’s losses. Traders will study two reports on private-sector hiring for May and weekly jobless claims.
Oil falls as Saudi Arabia ready to pump more if Russian output sinks
The price of oil traded lower Thursday morning, falling by more than 2%. Saudi Arabia is reportedly prepared to increase oil production if Russia’s output falls substantially under the new sanctions imposed by the European Union.
Gasoline jumps to fresh record high
The average price for a gallon of gasoline in the U.S. rose to a record on Thursday at $4.715, according to the latest numbers from AAA. The price on Wednesday was $4.67. The price of diesel increased to $5.556 from $5.538.
Bitcoin stabilizes after Wednesday plunge
Bitcoin fell below $31,000 after a drop of more than 6% on Wednesday. It was the largest drop since an 8% fall in early May. Stocks also declined. Bitcoin is down 36% year-to-date. Ether is around $1,800. Dogecoin is around 8 cents.
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Read More: Stocks slip as Microsoft warns, ADP jobs falls short, gas hits record: LIVE UPDATES