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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 12, 2024
Page
8
The Federal Reserve concludes a two day policy meeting with officials stressing inflation remains stubbornly high and indicating no rate reductions until there is stronger proof prices are slowing. The update emphasizes ensuring price gains are controllable before any easing.
Natural gas jumped over 7 percent while U S crude oil and heating oil closed slightly higher. Wholesale gasoline was nearly flat. Silver fell and gold prices were unchanged.
A Florida jury ordered Chiquita Brands to pay $38.3 million to 16 relatives of people killed in Colombia linked to a paramilitary group funded by the company. EarthRights International calls the verdict a deterrent against corporate human rights abuses. The ruling followed a long legal effort and reflects ongoing debates over corporate responsibility in conflict zones.
Broadcom posts second quarter results after the bell with expected earnings of 10.85 per share on revenue over 12 billion. First quarter revenue rose 34 percent to 11.9 billion, boosted by the 69 billion VMware acquisition and rising demand for networking gear in AI datacenters.
U.S. stocks closed mixed with the S&P 500 up 0.3 and the Nasdaq 0.9 as Apple led gains while the Dow fell 0.3. Traders awaited the Federal Reserve decision expected to keep rates unchanged. Some listings show name confusion with DXC Technology and Kyndryl Holdings as potential contributors.
Van Meteren asserted No Labels Kansas did not complete state paperwork after petition signatures. He said he filed incorporation documents, called a convention, named himself chairman, and nominated two Kansas Senate candidates. The secretary of state later invalidated those nominations and a second corporation proposal was blocked.
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