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Here are the most important news items that investors need to start their trading day:
1. Muddling through
The bulls are mucking through an inconclusive week. Retail sales came in hotter than expected Wednesday, which should, in theory, feed worries that the Federal Reserve will keep raising rates until morale, er, inflation improves. But stocks still finished the day higher, albeit not by large margins. Investors will chew over more economic data Thursday: the January producer price index report, which gauges wholesale inflation; weekly jobless claims; and housing starts. Follow live markets updates.
2. Electric worry
Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC).
Michael Wayland | CNBC
Ford halted production and shipments of its fully electric F-150 Lightning pickup after one of the vehicles caught fire earlier this month due to a battery issue, the company said late Wednesday. Ford said it believes engineers have determined the cause of the fire, and that it expects an investigation into the matter to wrap up by the end of next week. Then, Ford said, it would make adjustments to the battery production process, which “could take a few weeks.” The developments come at a difficult time for Ford, which is attempting to turn around its business after posting a net loss for 2022, all while making the transition to EVs.
3. Cisco comes through
A sign bearing the logo for communications and security tech giant Cisco Systems Inc is seen outside one of its offices in San Jose, California, August 11, 2022.
Paresh Dave | Reuters
Computer networking company Cisco‘s stock got a decent bump in off-hours trade after a strong earnings report. The company beat on the top and bottom lines, while also raising its forecast for the year. Cisco also said some of its logistics costs came down. Demand is also stable, according to Cisco, even as…
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