November 15, 2023

Markets Now 11/15

Target has a warning about the holidays

Target’s sales slumped last quarter and the retail giant is predicting a slow holiday shopping season.  
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The US Postal Service lost $6.5 billion last year. It predicted it would break even

The US Postal Service lost $6.5 billion in its just-completed fiscal year, delivering a blow to the service’s hopes of a financial turnaround.  
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Analysis: Welcome to the (almost) red-hot bond market

Bonds have been tracking towards their third consecutive year of losses in what some analysts are calling the worst bear market in history.  
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Americans are getting ‘ripped off’ by big banks, Robinhood CEO says

Robinhood is trying hard to lure customers fed up with traditional banks that pay little to no interest on savings.  
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Biggest test of Credit Suisse rescue yet to come, says UBS

2024 will be the “pivotal” year in the takeover of Credit Suisse by UBS, with the migration of IT systems presenting huge risks as the two megabanks merge operations across more than 50 countries, UBS CEO Sergio Ermotti said Wednesday.  
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Warren Buffett’s Berkshire Hathaway sold all of its GM stock

Warren Buffett’s Berkshire Hathaway unloaded its entire $850 million worth of General Motors (GM) stock last quarter, according to a Securities and Exchange Commission filing.  
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Source: CNN Business

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