 | | | | President Joe Biden will name Lina Khan, an antitrust researcher focused on Big Tech's immense market power, to chair the U.S. Federal Trade Commission, sources said on Tuesday, a key win for progressives who have pushed for tougher laws to tackle monopolies and growing corporate power. | | | | | | Wall Street's main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve's latest policy meeting. | | | | | | Oracle Corp (ORCL.N) beat Wall Street estimates for fourth-quarter revenue and profit on Tuesday, steered by demand for its cloud services as people continued to work remotely. | | | | | | Wall Street's main indices ended lower on Tuesday, as data showing stronger inflation and weaker U.S. retail sales in May unnerved investors who were already jittery as they await the results of the Federal Reserve's latest policy meeting. | | | | | | Yield spreads on U.S. corporate high-yield bonds are unlikely to tighten much beyond the current levels due to the credit market's composition and a possible rise in interest rates, according to asset manager Amundi. (AMUN.PA) | | | | | | Lordstown Motors Corp (RIDE.O) has "firm" and "binding" orders for the first two years of production of its electric pickup truck, the startup's president said on Tuesday, sending shares up 6.4% a week after saying it had no binding orders for the vehicle. | | | | | | Southwest Airlines (LUV.N) said on Tuesday it was in the process of resuming normal operations after it was forced to temporarily halt flights over a computer issue. | | | | | | FedEx Corp (FDX.N) and robotics company Nuro on Tuesday announced a multi-year agreement to test self-driving vehicles in the package delivery company's network, starting with a pilot program in Houston. | | | | | | The American Iron and Steel Institute (AISI) on Tuesday welcomed the Biden administration's commitment to address the problem of global excess steel capacity, but warned that securing meaningful change would take time. | | | | | | The three benchmark U.S. indices traded lower on Tuesday after the S&P 500 briefly hit another record intraday high, with investor sentiment hit by a strong inflation reading for May as the Federal Reserve sat down for its latest policy meeting. | | | | | |
