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Bullish stocks, low bond yield and recovering housing market suggest interest rates aren’t that restrictive, frustrating the central bank’s efforts to cool inflation.
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Marketwatch:
UnitedHealth (UNH), Humana (HUM): Health insurers’ shares fell over 7%
Toyota Motor (TM): stock jumped more than 6%
Shell (SHEL): planned to launch a $5 billion buyback
Nvidia (NVDA): stock edged higher by 3%
Stitch Fix (SFIX): Stock fell about 4%#StocksToBuy pic.twitter.com/e6BDfxEKVF— The_Journalbiz (@the_journalbiz) June 14, 2023
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UnitedHealth (UNH), Humana (HUM): Health insurers’ shares fell in morning trading after UnitedHealth’s finance chief said the company was seeing pent-up demand for some types of seniors’ surgeries, adding to its costs.
Toyota Motor (TM): Shareholders re-elected longtime leader Akio Toyoda to the board, rejecting an activist push. Toyota’s Tokyo-listed stock jumped more than 6%, building on a recent rally, while its American depositary receipts gained around 4%.
Shell (SHEL): The oil giant said it planned to launch a $5 billion buyback and increase its dividend. London-listed shares rose, as did Shell ADRs.
Nvidia (NVDA): The buzzy chip maker’s stock edged higher after Nvidia ended Tuesday’s trading with a $1 trillion market capitalization for the first time.
Stitch Fix (SFIX): The stock fell about 3%.
