August 14, 2023

Markets Now

US gas prices climb to highest level in nearly 10 months

Pump prices are creeping towards $4 a gallon nationally.  
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Hawaiian Electric stock plunges 40% after lawsuit alleges it failed to shut power off ahead of the Maui wildfires

Hawaiian Electric’s stock tumbled to a 13-year low Monday morning, plummeting nearly 40% after a class action lawsuit filed over the weekend alleged that Maui’s devastating wildfires were caused by the utility’s energized power lines that were knocked down by strong winds.  
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Does it matter to stocks whether the Federal Reserve hikes or pauses rates in September?

After the Federal Reserve raised interest rates in July to the highest level in 22 years, Wall Street’s focus is on whether September will bring another rate hike.  
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Esmark makes offer for US Steel at $35 per share after company rejects buyout offer from Cleveland-Cliffs

Esmark Inc. announced an all-cash public offer for US Steel for $35 per share on Monday. The offer comes hours after news that rival Cleveland-Cliffs was in talks to purchase of US Steel. Shares of US Steel surged double-digits on Monday.  
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Dunkin' is releasing boozy versions of their iced coffees and teas

It’s true: Dunkin’ is turning two of its most popular drinks into boozy beverages.  
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'Complete meltdown': Driverless cars in San Francisco stall causing a traffic jam

San Francisco residents were caught off guard this weekend after Cruise self-driving cars caused a traffic jam, according to social media posts. The obstruction came a few days after California regulators approved robotaxi companies to operate their driverless cars 24/7 throughout the city.  
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Source: CNN Business

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