The S&P 500 was on track to fall for a sixth consecutive day for its longest losing streak since February 2020

(Bloomberg) – Tech stocks have driven US equities down amid concern that valuations have spiraled out of control amid rising bond yields and bets on faster inflation

The Nasdaq 100 was about 15% lower at noon and was heading for its longest losing streak since 2019, but after its worst loss after President Jerome Powell reported that the Federal Reserve did not was not about to withdraw support for the UEconomy Airlines, accommodation companies and cyclical stocks expected to benefit from the end of pandemic lockdowns outperformed, limiting losses for the Dow Jones Industrial Average A similar rotation was underway in European stocks

So-called growth stocks are having their worst month relative to their value counterparts in more than two decades, as vaccination campaigns accelerate and bond yields approach a one-year high. bets on faster growth have pushed the spread between 5 and 30 year yields to the highest level in over six years

Investors are increasingly concerned that large equity benchmarks have already taken into account much of the potential global recovery spurred by vaccines and stimuli as Powell reassured investors about stimulus measures, he expressed his expectations for a return to more normal and improved activity later this year and said the rise in bond yields reflected economic optimism

“We are starting to see some people taking money off the table,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors “The side of the market that has been so overvalued for so long is the technology side and these big names of growth, we are therefore witnessing a turnover”

Elsewhere, shares in Asia were mostly higher Bitcoin fell below $ 50,000 after an episode of volatility that highlighted lingering doubts about the sustainability of the token rally

EIA crude oil inventory report released on Wednesday Group of 20 finance ministers and central bankers to meet virtually Friday US Treasury Secretary Janet Yellen will be among the attendees

The S&P 500 index fell 08% at 11:47 a.m. New York time The Stoxx Europe 600 index fell 04% The MSCI Asia Pacific index was little changed The MSCI Emerging Market index fell 04%

Bloomberg Dollar Spot Index fell 01% Euro fell 01% to $ 1 2148 British pound rose 02% to $ 1 4097 Japanese yen fell 01% to 10,518 per dollar

10-year T-bill yield fell one basis point to 135% Germany’s 10-year yield jumped two basis points to -032% UK 10-year yield fell increased by four basis points to 071%

West Texas Intermediate crude fell 02% to $ 61 49 a barrel Gold fell 02% to $ 1806 17 an ounce

Chicago White Sox shortstop Tim Anderson ready to play for coach Tony La Russa The flamboyant and energetic Anderson said when La Russa was hired that he was concerned he had to tone down the spice in his game, which he was not ready to change But after a face-to-face meeting in Arizona as the White Sox opened spring training, Anderson, 27, said he was all-in on the 76-year-old manager.

TORONTO – Disney Plus Introduces Viewers to Its Elder: New Streaming Hub Named Star After establishing itself as the family home of Disney, Pixar and Marvel films, the Disney Plus platform opens the doors to a space dedicated to the tastes of the most adult Within its existing platform, more than 150 TV series and 500 movies will be available to Canadians as of Star’s launch date Tuesday – but it comes with a catch. A few cool titles from U owned by the DisneyS platform. Hulu streaming is still missing, and you can’t subscribe to Star without signing up for Disney Plus This is part of a Disney initiative to increase monthly subscription fees for all users while introducing them to more programs. from Disney-owned ABC television, 20th century studios and the FX channel Monthly rates will drop from $ 8.99 to $ 11.99 for Canadian subscribers who sign up from Tuesday, while the price increase will go into effect for existing monthly and annual fee subscribers after August 22 Star will appeal to viewers who once would have liked to roam the aisles of the video store in search of older comedy, drama and action films. Many of his titles date back decades – among them the major franchises “Alien”, “Planet of the Apes” and ” Die Hard “TV show roster includes Jennifer Garner’s action series” Alias ​​”and” Family Guy, “as well as retro classics” Hill Street Blues “and” MUNESH “On the newer side, Disney will be tuning the access to a few Hulu productions that have never seen the light of day in Canada More specifically, the teen drama series “Love, Victor”, a spin-off of the film “Love, Simon”, will be available on launch date However, as usual, an array of complex rights deals with Canadian broadcasters and streaming companies means that many other Disney-owned movies and shows will not be on the platform. And what is missing may seem obvious to contemporary viewers hoping for Hulu’s hottest new hits.For example, “Framing Britney Spears,” the hugely popular Hulu documentary that set social media on fire earlier this month, is not on Star at the moment Neither “Run”, nor Sarah Paulson’s thriller, nor last year’s horror comedy “Bad Hair” Other popular Hulu series are licensed elsewhere, including “The Handmaid’s Tale “with Crave and” Pen15 “with CBC Gem Add to that Disney’s complicated relationship with FX programming, which comes to Star in dribbling and drabbing Some of the biggest FX titles, notably” American Horror Story “and” Pose, “make part of an ongoing license agreement with FX Canada channel owned by the media division of Rogers Communications Inc This goes for the acclaimed miniseries “Ms. America” ​​and “Fosse / Verdon” too “We will have FX content “assured Greg Mason, vice president of marketing at Walt Disney Studios Canada, citing the biker gang drama” Sons of Anarchy “as an example.” It will be a bit of a mix for a while and we’ll see how it works. unfolds “Mason said the goal was to bring S’s film selection tar to 800 titles by the end of the year, while increasing the amount of original programming For parents, Disney has expanded its rating control system so that children’s account profiles can be blocked from content deemed inappropriate for their age. For example, parents of young teens could filter R-rated content, which in the case of the Marvel catalog would make Wolverine’s most violent action movie “Logan” invisible on their profile. “Every parent is different for what they look for their children,” Mason said “We wanted to give them that flexibility” This report from The Canadian Press was first published on February 23, 2021 David Friend, La Presse Canadian

Former prime minister to testify in Holyrood inquiry into Scottish government botched harassment investigation

Lithia Motors & Driveway (NYSE: LAD) today announced that nearly five years ahead of schedule, LAD and Sidney DeBoer completed the conversion of Lithia’s Class B common stock into Class A common stock at as of February 23, 2021 Consequently, Lithia Motors & Driveway no longer has a two-class structure and all outstanding shares have the same economic value and the same voting power

It could have deepened the less heroic side of the footballer, but this document is worth the detour

Either way, companies with a competitive advantage tend to outperform the pack, which can lead to big gains for shareholders With that in mind, Amazon (NASDAQ: AMZN) and salesforcecom (NYSE: CRM) look like good stocks for new investors to buy Amazon is a great example of a business with a strong advantage

The dollar reversed its gains earlier Tuesday morning after an accommodating speech from the US Federal Reserve Chief Jerome Powell failed to allay inflation fears, while the pound hit new ones highs in three years Powell’s speech on Tuesday did little to assuage inflation fears In remarks prepared for delivery to a Senate banking committee, Powell said: “The economy is falling short of our targets for employment and inflation, and it will likely take some time for further substantial progress to be made, “the Fed said to discuss when it might be appropriate to reduce back support

The major players in the global nanobots / nanorobots market are Zymergen, Synthace Limited, Ginkgo Bioworks, Imina Technologies SA, Kleindiek Nanotechnik GmbH, Thermo Fisher Scientific Inc, and others Pune, India, February 23, 2021 (GLOBE NEWSWIRE) – Nanobots / Nanorobots Market Overview: Future Market Research (MRFR) studied the global nanobots market 2020 during the review period to 2025 According to the MRFR study, the global nanobots market may grow at 1173% CAGR to reach 8 685 USD7 Mn by 2025 The healthcare sector will play a key role in the rise of the nanobots market The growing application of nanobots to perform complex tasks and reduce human error in critical sectors, such as; health industry, may drive market expansion in near future University of New South Wales (UNSW) researchers have solved problems with dimensions of DNA nanobots Latest studies in nanotechnology of DNA Support Nanobot’s Large-Scale Health Usefulness Tech giants and reputable healthcare providers are seen to partner to fund nanobot research and development company These players are driven by the high long-term returns that nanobot technology promises. In addition, the entry of nanobots to perform tiny tasks, such as; Targeted drug delivery to the cancer cell is also observed and the position of small electrical components is observed, which is identified to support the growing popularity of nanobots Biomedical applications of nanobots are observed to be gaining ground in recent times These causes are observed as Growth Drivers for Global Nanobots Market in MRFR Analysis Get Free Sample PDF Brochure @ https: // www market research com / sample_request / 1301 Competitive Landscape: Innovations in Genome Extraction Through in-depth research by some players may support market growth Acquisitions, development of platforms for next-generation antibiotic research, and growing awareness of the usefulness of sequencing, synthetic biology, bioinformatics and other technologies can benefit the market within years s to come At the same time, the increasing attention of players in the discovery and diversification of natural products, for production purposes, may support the growth of the market in the near future Key Market Players Featured In The Report Are: ZymergenGinkgo BioworksSynthace LimitedImina Technologies SAThermo Fisher Scientific IncKleindiekNanotechnik GmbH Upgrading Defense Technology to Benefit Nanobots Market Nanobots are also likely to be effective in the field of defense A project funded by the Air Force Office of Scientific Research and Army Research Office in the United States, studied nanoscale legged robots.These tiny machines are able to move when powered by lasers, this which may prove beneficial on the battlefield The upsurge in militant activities creates the need to upgrade technologies deployed for national security Thus, governments around the world are known to promote and support nanotechnology developments. invest in new launches amid COVID 19 Pande mic Muse Nanobots, an India-based tech startup, has deployed a nanotechnology coating for textiles This product claims it could inactivate the coronavirus within five minutes of contact Textiles coated with Muse nanoparticles are claimed to offer increased protection for people on the move and can provide high level of safety for frontline healthcare professionals, as well as restaurant and hotel workers High manufacturing price for nanobots is expected to limit market growth over the expected duration However, ongoing research and technological advancements in molecular robotics to provide affordable solutions may counter the market downturn. Browse the In-Depth (151 pages) Nanobots / Nanorobots Market Research Report: https: //www.marketresearchcom / reports / nanobots-market-1301 Market Segmentation The global nanobots market segment study is carried out by product type and application Nanobots market segments based on product type are bio-nanorobotics, nanomanipulators and magnetically guided nanobots or nanorobots, among others Nanomanipulator segment may hold the maximum market share of around 344% in the expected duration Global application-based nanorobots market segments are biomedical and nanomedicine, among others According to MRFR Analysis, Nanomedicine Segment May Register Nearly USD 215961 Mn By 2025 Regional Analysis Understanding the regional advancements in the global nanobots market to identify potential growth pockets across the globe is made for Americas, Europe and Asia-Pacific, after the rest of the world The Americas to hold the lead, with the largest market share, during the period of analysis The escalation of R&D associated with nanorobots may contribute to booming market Expansion of the pool of patients with hematological disorders may contribute to the rise of the market In addition, the presence of large nanobot developers in the region, dedicated to the study of formulations for oncological disorders, can stimulate the market’s rise in the region Europenanobotsmarket is studied across Western EU and Eastern EU MRFR results indicate that the EU market is expected to grow at a rapid rate and may secure the second largest market share The surge in investment by nanobots public and private key players in the health sector can drive the market Share your queries @ https: // www market researchecom / survey / 1301 Nanobots market in the Asia-Pacific region is likely to hold a significant share of the global market by 2025 The development of the health sector, technology and the availability of immense growth opportunities in the market can benefit the market The emergence of several small and medium enterprises with private and public subsidies for the activities of research can also provide the rise of the market The increase in adoption of the automation system, the availability of large resources s and increase in industrial robotics production may add to market upsurge The nanobots market in the Middle East and Africa, and the rest of the world (RoW), may exhibit slow growth due to a Limited availability and access to processing facilities may support market surge Limited developments in the field of technology may restrain the market rise during the period of analysis Discover more research reports on the industry medical devices, by market research Future: medical payment fraud detection market: by type (descriptive analysis, predictive analysis and prescriptive analysis), component (services and software), delivery model (on-premise and in the cloud) , Service source (internal and outsourced), end user (private insurers, public / government agencies and third party service providers) and region (Americas, Europe, Asia-Pacific and t Middle East & Africa) – Forecast to 2027 Infrared Thermometers Market: by Product (Contact Thermometers, Non-Contact Thermometers), Measuring Point (Ear, Forehead, Multifunction), Application (Medical, Veterinary), Distribution Channel ( hospital pharmacy, retail pharmacy, online stores) and region (Americas, Europe, Asia-Pacific, Middle East & Africa) – Forecast to 2027 Dental Chairs Market Research Report, By Product (Motorized Dental Chairs , non-motorized dental chairs), Type (fixed dental chair, ntal Chair), Application (exam, oral surgery, orthodontics and others) and region (Americas, Europe, Asia-Pacific & Middle East & Africa) – Global forecast up to in 2025 Blood glucose monitoring Market information: by product type (invasive blood glucose monitoring, CGM, Flash Glucose Monitoring), Application (Type 1 Diabetes, Type 2 Diabetes), CSSEANDCH AR End User (Diagnostic Centers, Hospitals, Clinics) – Forecast to 2023 About Market Research Future: Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a comprehensive and accurate analysis of the various markets and consumers around the world Market Research Future’s distinguished goal is to provide customers with high-quality research and granular research Our market research by products, services, technologies, applications, end users and market players for global, regional and national market segments, enables our clients to see more, learn more and do more, which helps answer your most important questions Follow us: LinkedIn | CONTACT Twitter: Contact: Market Research Future Phone: 1 628 258 0071 (US) 44 2035 002 764 (UK) Email: sales @ marketresearchfuturecom Website: https: // wwwrecherche de marchécom

HSBC to cut post-Covid office space by 40% as profits drop by a third The Bank also reaffirms greater transition to Asia-Pacific, where most of its profits come from HSBC has also announced a major management reshuffle as part of his shift to operations in Hong Kong and China Photograph: Isaac Lawrence / AFP / Getty Images

The housing market was among the very few bright spots for the US economy in the year of foreclosure and Home Depot became its supplier, recording unprecedented $ 132 billion in 2020 revenue Sales grew even more in the last quarter of the year, increasing 25% to $ 32 26 billion That’s from $ 25 78 billion in the same period last year and even exceeded the high projections of $ 30 66 billion at Wall Street, Zacks Investment Research Analyst Survey Says Home improvement stores have become a beehive during the pandemic, with millions working from home and remote schooling Many families have concluded that more homes large, or at least different homes, were the answer in 2020, pushing prices up Tuesday, the 20-city S&P CoreLogic Case-Shiller Housing Price Index recorded a 10Pic of 1% in December compared to the same month last year Which topped the 9th 2% jump the previous month and all other months going back almost seven years Although Home Depot was not alone in meeting demand for hammers, paint or appliances that come with a real estate boom, the volume of products sold this year was staggering Attempting to put this volume into context, Neil Saunders, CEO of GlobalData, calculated that in 2020 the equivalent of every person in the United States spent $ 402 at Home Depot. “It’s easy to look at the numbers for Home Depot and attribute its success to the pandemic,” Saunders said Tuesday “However, keeping three-quarters of growth above 20% is extremely difficult in terms of the pressure that this carries over to the entire operation, from supply chains to stores“Global sales at stores open for at least a year, a key indicator of a retailer’s health, have soared 245%, and 25% if only US stores are counted Home Depot Inc. earned $ 2.86 billion, or $ 2.65 per diluted share, for the three months ended Jan. 31, versus $ 2.48 billion, or $ 2.28 per diluted share, a year earlier Profit, adjusted for M&A costs, was $ 2.74 per share Who easily beat the $ 2 63 per share Wall Street was claiming The Atlanta-based company said Tuesday it was not providing annual guidelines for the year, citing the uncertainty of the pandemic Considering the massive numbers Home Depot rolled out in 2020, that put investors off and stocks fell more than 3% when the bell opened.However, in a show of confidence, the biggest chain of Nationwide home improvement increased its quarterly dividend by 10%, to $ 1.65 per share Michelle Chapman, The Associated Press

WASHINGTON – President Joe Biden’s pick for Health Secretary Xavier Becerra told senators on Tuesday that tackling the coronavirus pandemic would be his top priority if confirmed, but he also pledged to working to expand health insurance coverage, reduce prescription drug costs and reduce racial and ethnic disparities in medical care “The COVID pandemic has killed 500,000 Americans,” Becerra told the Senate health committee. to respond to this moment, we need strong federal leadership. ”Former Los Angeles area congressman, currently California Attorney General Becerra cited Biden’s goals of 100 million vaccines during his 100 early days, improving access to testing, stepping up DNA mapping of the virus to track disturbing mutations and reopen schools and businesses In health insurance, i l pledged to work to expand the Obama-era Affordable Care Act, although in the past he has supported a government-run healthcare system Californian faces two days of contentious hearings Republicans describe Becerra as unfit, but Democrats are unfazed, accusing GOP of playing politics despite coronavirus pandemic Becerra will be toasted by two panels Following health commission , he will be questioned on Wednesday by the finance committee, which will vote on sending his candidacy to the Senate If confirmed, he would be the first Latino to lead the Department of Health and Human Services, a $ 4 trillion agency with a large portfolio that includes health insurance programs, safety and drug approvals, Advanced Medical Research and Child Welfare Ranking Republican Sen Richard Burr of North Carolina on Tuesday left no doubt Becerra faces a tough road to win GOP support “I’m not sold yet” Burr said as he looked at the candidate “I’m not sure you have the experience or skills to do this job right now.” In his opening speech, Burr questioned whether Becerra was respecting the role that play private companies, especially pharmaceutical companies, in delivering innovations that benefit patients Becerra, 63, represented the Hispanic neighborhoods of Los Angeles in the US House for more than 20 years before becoming her state’s law enforcement chief, succeeding Vice President Kamala Harris after winning the election to the Senate His politics are liberal but his style is low-key and oriented towards problem-solving As a member of Congress, he played a behind-the-scenes role in leading President Barack Obama’s healthcare law through democratic divisions in the House The Republican opposition grew stronger ahead of his nomination hearings On Monday, Sens John Kennedy of Louisiana and Tom Cotton of Arkansas issued a letter in which they asked Biden to withdraw the nomination, calling Becerra “unfit for any position of public trustSenate Minority Leader Mitch McConnell R-Ky called him “famous supporter” And political group Heritage Action for America has launched a cable and digital ad campaign against Becerra Republicans say Becerra is a radical supporter of socialized medicine, abortion and restrictions on religious freedom and has no medical experience Democrats shrug Republicans “are just agitating,” the president of the Finance Committee, Ron Wyden from Oregon “They have done their best to try to find something that could accommodate their opposition, but there is no ‘there’ At a White House briefing, spokeswoman Jen Psaki said that Becerra was part of the team Biden needed to execute his COVID-19 response plan The pandemic was questioned during the health, education, work and pensions hearing from Tuesday Senators from both sides want to know the administration’s timetable for a return to near-normality, the progress of the vaccination campaign, the prospects of reopening schools and the threat of more aggressive viral mutations Becerra spent part of the hearing pushing Biden’s $ 1 trillion COVID-19 relief plan, which is on track to pass the House but faces major political and procedural challenges in the Senate. In respects, Becerra was the first face of California’s opposition to the Trump administration He was appointed by Gov Jerry Brown to replace Harris and took over as attorney general in early 2017 when Trump became president In four years, he filed 124 lawsuits, challenging the Trump administration over immigration, environment and health policies His litigiousness and vocal resistance to Trump’s policies could allow Republicans to portray him as a figure too partisan California was proud to see itself as resistance to Trump, and Becerra embodied that ethos Democrats say he’s not outside the mainstream of their party, which strongly supports women’s access to abortion, and where single-payer government-run health care for all remains a popular political stance, even though Biden has made it clear he does not support it Lack of medical experience doesn’t disqualify a candidate for HHS secretary, although that could be a plus Recent secretaries included a doctor but also a pharmaceutical executive, a White House budget manager and three governors Biden pandemic response coordinated from the White House While Becerra would be a significant player, the administration’s decision-making structure is already in place Becerra is expected to play a central role in broader policy issues health issues, such as expanding insurance coverage and trying to cut prescription drug costs ___ Kathleen Ronayne, PA supervisory correspondent in Sacramento, Calif., contributed to this report Ricardo Alonso-Zaldivar , The Associated Press

BETHESDA, Md – Marriott International on Tuesday appointed a new CEO and chairman, just over a week after its former executive died from cancer Marriott said Anthony “Tony” Capuano had been appointed CEO Capuano, 55, joined the hotel company in 1995 and most recently served as group president of global development, design and operations services Stephanie Linnartz to be President of Marriott Linnartz, 52, joined Marriott in 1997 and most recently served as Group President of Consumer Operations, Technology and Emerging Businesses Former President and CEO of Marriott, Arne Sorenson, passed away on February 15 He was diagnosed with pancreatic cancer in 2019 Earlier this month he cut his schedule at the company, leaving Capuano and Linnartz in charge as he was undergoing more aggressive treatment JW “Bill” Marriott Jr, the executive chairman of the company, said Capuano has played a major role in Marriott’s growth over the past decade Marriott, based in Bethesda, Maryland, is the world’s largest hotel chain globally, with 30 brands and over 7,000 locations worldwide “He will be a formidable leader as we continue to advance our growth strategy while navigating the market dynamics of the COVID-19 pandemic,” Bill said Marriott in a press release Capuano, who is the fourth CEO in Marriott’s 93-year history, said his appointment was bittersweet “Arne was a mentor, champion and friend to every member of his tight-knit management team. to Arne’s efforts that we are ready to move this transition forward, “said Capuano Marriott shares were stable in morning trading The Associated Press

LeBron James hushed up self-preservation tales on Monday night after the Lakers’ last overtime loss in which the Los Angeles All-Star played more than 40 minutes for the fourth time in February James, 36, is 38 averaging 2 minutes per game this month and played 43 minutes in Monday’s 127-124 OT loss to the Washington Wizards. “I think this whole story of ‘LeBron needs more rest ‘or I should take more rest or I should take some time here, it has gotten a lot bigger than it actually is, “James said

Altasciences is pleased to have contributed to the recent FDA approval of Vibegron, performing three early phase clinical trials Vibegron is a beta-3 (β3) adrenergic receptor agonist, for the treatment of overactive bladder ( OAB) with symptoms of urge urinary incontinence (UUI), urgency and frequency of urination in adults The approval was announced by Urovant Sciences on December 23, 2020

The action is very sensitive to Bitcoin price changes and the main cryptocurrency is down today CEO Michael Saylor is still committed to his Bitcoin investment strategy, although

SILVER SPRING, Md – US consumer confidence rose again in February as the acceleration of the COVID-19 vaccine surge gives hope to Americans who have lived through a year of unprecedented restrictions The Conference Board said on Tuesday that its consumer confidence index rose to 913, down from 889 in January.However, despite improving vaccination rollout, consumers are more optimistic about current conditions than about the near future The current situation index, which is based on consumers’ assessment of current business and labor market conditions, rose from 85 to 925 last month But the expectations index – based on the short outlook consumers’ term in income, activity and working conditions – dipped slightly to 908 this month from 912 in January This is somewhat surprising to economists, as many experts have predicted that widespread vaccinations and warmer weather could lead to a relatively normal summer “One would imagine that the prospect of rolling out vaccines to all Americans would build confidence for the future,” said Jennifer Lee, economist at BMO Capital Markets ‘Not this month’ Lee said she believes consumer confidence will continue to improve in the coming months as more people are vaccinated and businesses fully reopen. The percentage of consumers reporting business conditions as “good” rose from 158% to 165%, while the proportion reporting business conditions as “bad” fell to 399% from 424%. labor market has also improved The percentage of consumers expecting better business conditions over the next six months has increased from 34% to 31%1% Those who expected conditions to worsen, however, also declined Consumer evaluation of the labor market was also mixed While fewer respondents said they expected more job opportunities in in the coming months, those who thought there would be less prospects also declined Slightly fewer consumers expect their incomes to increase over the next six months, but fewer see their incomes drop The Consumer Confidence Index, which is closely watched by businesses and economists as spending Consumption account for around 70% of US economic activity, surpassing 100 for almost 4 years before the pandemic hit last spring The metric has mostly languished in the 80s and 90s since then, except for two months this fall. deaths and average daily cases of COVID-19 have fallen in recent weeks Deaths from the viruses have fallen from more than 4,000 reported on certain days in January to an average of less than 1,900 a day As winter conditions hampered Vaccination efforts in recent weeks, supply is catching up with needs and experts expect distribution to accelerate further as weather improves Matt Ott, The Associated Press

Carlos Julio Rojas, 36, says he has been detained four times in the past five years for calling on the government of Venezuelan President Nicolas Maduro to improve basic services such as electricity and water in the capital Rojas, who heads the nonprofit Front for the Defense of Northern Caracas, spent 10 hours last July in a prison cell for joining a protest by retirees seeking better pensions Maduro’s government dismisses accusations of widespread rights violations, saying it is the victim of smear campaign by foreigners

NEW YORK – Macy’s envisions a year of recovery and rebuilding from the pandemic as the iconic department store chain offered annual forecasts that surpass Wall Street forecasts Macy’s attempts to boost online sales, while still focusing on physical stores in leading malls and modernizing its supplier network to speed up deliveries As a result, Macy’s estimates annual sales will reach $ 20.75 billion this fiscal year, exceeding the roughly $ 17 billion forecast by Wall Street Macy’s also expects adjusted earnings per share in the range of 40 cents to 90 cents for l year, much better than the $ 292 loss analysts predict, according to FactSet The company said on Tuesday that it expects digital sales to hit $ 10 billion in the next three years and the en side. line will become even more profitable Still, the department store has defended its physical store business, noting that online sales are two to three times higher in markets with Macy’s stores. The forecast came as Macy’s posted a 52% drop in profits in the fourth quarter Sales fell nearly 19% In the context of a year passed under the weight of a pandemic, this was seen as a good enough end to 2020 for besieged department store Macy’s faced challenges even before the pandemic forced the chain and its peers to temporarily shut down last spring to reduce the spread of the virus The retailer was battling growing competition from online players like Amazon and discounters like Target and Walmart But the pandemic has accelerated shoppers’ shift to online spending and increased the dominance of big box stores, which were allowed to stay open because they were deemed essential Macy’s and other department stores threaten on multiple levels Target, for example, signed a deal with beauty chain Ulta late last year to put Ulta boutiques in 100 stores over the next few months. Macy’s fired back, while taking bolder moves The company has reduced inventory, while continuing to close some stores It has also launched curbside pickup and is expanding its off-price BackStage concept, which has outperformed by more than three times a key sales indicator in Macy’s stores Macy’s also quickly changed its product line to reflect what shoppers are embracing during a pandemic, such as kitchen, home, and sportswear, among others. But it also introduced new items such as skin care devices and baby gear Macy’s said sales of beauty, home, perfume and watch products helped boost sales over the course of the year. last quarter, while career clothes and other dress clothes remained in the doldrumsBut he said he would be ready to increase dress clothing assortments when he sees buyers coming out more amid the vaccine rollout. “It could have been a terrible year for Macy’s,” Macy’s CEO Jeff Gennette told analysts on Tuesday during the earnings call. “Instead, we fought against store closings and reopened to deliver unexpected wins and promising tests” Gennette added that the company “learned a tremendous amount that informed us on how best to go. ‘adapt and improve our outlook “For the last fiscal quarter of the year which ended on January 30, Macy’s reported profits of $ 160 million, or 50 cents per share It was 80 cents per share if one-off costs are factored in, and it was also much better than industry analysts’ 11-cent per share forecast, according to a FactSet survey It’s still well below $ 340 million, or $ 1.09 per share, for the same period in 2019, the latest before COVID-19 emptied retail stores nationwide Since then, the company has new- Yorker laid off a majority of her workers It started reopening stores in May, but the recovery was painfully slow Quarterly sales were $ 6.78 billion, also beating analysts’ forecasts The company acquired seven million new customers, mostly online and many of them are under the age of 40 He said 25% of Macy’s online sales are in its stores and online sales made up almost 44% of sales, up from 30% in 2019, the company said Sales at stores open at least a year have fallen by 17%, but online sales have increased by 21% Following the planned closure of the 125 stores, at least 85% of its sales will come from stores located in malls Leading Stocks fell 4 cents to $ 1523 late in the morning Tuesday, after seeing stocks rise on pre-market Tuesday _______ Follow Anne D’Innocenzio: http: // twittercom / ADInnocenzio Anne D’Innocenzio, The Associated Press

WASHINGTON – Latest congressional testimony on the Capitol uprising (still locally): 11:45 am A senior security official said he was “stunned” by the late response to a request for help from the National Guard during the mob riot at the Capitol Acting Metropolitan Police Chief Robert Contee III said in a joint Senate hearing on Tuesday that the former US Capitol Police Chief was “begging” military officials to deploy troops from the US. Guards as Violence Rapidly Escalated Jan 6 District of Columbia Metropolitan Police officers joined US Capitol Police during attack Contee says police were “literally fighting for their lives,” but that those responsible for the call appeared to go through a ‘tick the boxes’ exercise to ask questions about the optics of stationing National Guard troops at Capitol Hill Contee says there has been no response immediate “Officials testify in first public hearing on the seat as a crowd loyal to Donald Trump stormed the Capitol to disrupt Congress, confirming Trump’s defeat to Joe Biden in the presidential election ___ HERE’S WHAT YOU SHOULD KNOW ABOUT FORMER SECURITY OFFICIALS WITNESSING ABOUT CAPITOL INSURRECTION: Public testimony for the first time about the 6th insurgency at the US Capitol, former security officials say bad intelligence was to blame for the disastrous failure to anticipate the violent intentions of the mob It left them unprepared for the attack, which was unlike anything they had ever seen before ___ HERE’S WHAT HAPPENS FROM OTHER: 11:30 am Former head of US Capitol Police says he learned this week his officers received a report from an FBI field office in Virginia that detailed the chances the extremists might commit a ‘war’ on Washington the next day – the day of the Capitol Uprising The FBI Washington bureau chief said that once he received the 5th warning from the Virginia bureau, the information was quickly shared a ith other law enforcement agencies through the Joint Task Force on Terrorism, including the Capitol Police Former Capitol Police Chief Steven Sund told Congress on Tuesday that a Joint Task Force Officer on Terrorism had received the FBI memo and forwarded it to an intelligence sergeant for the Capitol Police But Sund says the information was not passed on to any other supervisor Sund says he was not aware of it Sund says he saw an intelligence report created within the Capitol Police warning that the Congress could be targeted on Jan. 6 This report warned that extremists were likely to attend and calls were made for people to come to Washington armed The Associated Press

WASHINGTON – Federal Reserve Chairman Jerome Powell highlighted the US economy’s continued weakness on Tuesday in remarks suggesting that the Fed sees no need to change its ultra-interest rate policies low anytime soon “The economic recovery remains patchy and far from complete, and the way forward is very uncertain,” Powell said in testimony to the Senate Banking Committee Powell’s comments contrast with growing optimism from many analysts that the economy will grow rapidly later this year The outlook has also raised concerns about a possible surge in inflation and fueled a sharp rise in long-term interest rates this year. Most economists say they think the Fed’s still low rates, additional government financial assistance and progress in tackling the viral pandemic could create a mini economic boom as early as this summer Powell recognized the potential for a healthier economy But he pointed to the personal hardships caused by the pandemic, especially for unemployed Americans “As with overall economic activity, the pace of improvement in the labor market has slowed,” said Powell “While there has been a lot of progress in the labor market since the spring, millions Americans remain out of work “Powell’s emphasis on economic challenges reflects reluctance to send any signal that the Fed is considering abandoning its efforts to boost economic growth and hiring The Fed cut its benchmark short-term interest rate to near zero last March in response to the pandemic recession It is also buying $ 120 billion in bonds per month in an effort to keep long-term rates low. drop Powell reaffirmed that these purchases will continue until “substantial progress” has been made towards the Fed’s targets of low unemployment and stable inflation at around 2% per year. The economy could improve quickly later this year, Powell said, “but the job isn’t done yet, the job isn’t done” Powell also downplayed concerns about rising interest rates. long-term and potentially higher inflation, which some analysts say will result from an explosion in spending and growth if the pandemic is brought under control later this year The Fed Chairman has also refused to endorse or condemn President Joe Biden’s $ 9 trillion economic bailout package, which is starting to make its way to Congress Asked by Sen John Kennedy, R-La, if he was “cool” for Congress to approve or vote on Biden’s proposal, Powell said, “By being cool or not cool, I should express an opinion what I’m not doing.” Powell has already approved general government spending for offsetting the impact of the recession The Fed chairman also acknowledged that prices could rise later this year if Americans engage in a spending explosion while the coronavirus is under control But Powell stressed he won’t did not expect sustained price increases Inflation has been held back for decades by increased international competition, growth in e-commerce and other trends that are slow to change, he said “I don’t expect we are in a situation where inflation will reach worrying levels,” said Powell Powell’s remarks to the Banking Committee come on the first of two days of semi-annual testimony to Congress required by the Law Wednesday, he will testify before the House financial services committee His testimony comes as the economy shows gradual improvement in key areas, with manufacturing and retail sales rebounding despite a stagnant job market Yet the steady rise in interest rates has disrupted the stock market On Monday, the highly technological Nasdaq index fell 25% as the yield on the 10-year Treasury bill jumped to nearly 137% At the start year, the 10-year yield was less than 1% Powell attributed the increase to optimism about a potential acceleration in growth. “In a way, that’s a statement of confidence on the part of the markets that we will have a robust recovery, “said Powell The rate hike generally reflects optimism that the economy is about to grow faster But they can also weaken growth, especially if the Fed were to respond to the hike of inflation by increasing its benchmark rate faster than the markets expect For now, interest rates remain, by historical standards, extremely low As late as the fall of 2018, for example, the 10-year yield briefly exceeded 3% But especially since the pandemic recession crippled the economy last spring, the economy and markets strengthened with near record lending rates Many analysts are optimistic about the outlook for this year, once new vaccines are administered, the pandemic is under control and new government bailout aid makes its way into the economy Bank of America economist Michelle Meyer raised her forecast for growth this year to 65% on Monday It would be the strongest economic growth of the calendar year since 1984 Yet the job market remains largely stuck, with employers adding averaging only 30,000 jobs per month over the past three months The economy is still around 10 million jobs below its pre-pandemic level Christopher Rugaber, The Associated Press


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