Fed inflation gauge cools as economy keeps growing
The Federal Reserve's preferred inflation gauge rose 0.2 percent from November to December and 2.6 percent year over year. Core prices gained 0.2 percent month to month and 2.9 percent yearly, signaling progress toward a soft landing and potential rate cuts amid stronger growth and consumer confidence.
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Norfolk Southern Q4 Profit Drops 33 Percent on Cleanup Costs
Norfolk Southern reports a 33 percent drop in fourth quarter profit to 527 million dollars as cleanup costs from last year’s East Palestine derailment rise. Revenue fell 5 percent to 3.07 billion dollars while shipments rose 3 percent. The company plans 7 percent managerial cuts and efficiency improvements to reduce costs and boost future growth.
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Tesla recalls nearly 200K vehicles in U S over backup camera issue
Tesla is recalling about 200000 Model Y, S and X from 2023 due to backup camera failure when in reverse. Software updates fix the problem. recall notices begin March 22. Tesla reports no crashes or injuries and notes FSD hardware cannot drive itself.
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Stocks close mixed in winning week on Wall Street
Wall Street ended a winning week with a mixed close as tech shares fell. The S&P 500 slipped to 4890.97, the Dow rose to 38109.43, and the Nasdaq dropped to 15455.36 as Intel and KLA guidance disappointed.
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