US Stocks ended slightly higher yesterday for the 3rd straight day as investors shrugged off mildly disappointing economic reports on inflation and the housing market.
FedEx's shares rose 4% this morning after the shipping company on Wednesday said its fiscal fourth-quarter profit rose to $730 million, or $2.46 a share, from $679 million, or $2.13 a share, a year earlier. Revenue ticked higher to $11.8 billion from $11.4 billion which was better than Wall St expected.(yahoo finance)
US Consumer prices recorded their largest increase in more than a year last month as costs for a range of goods and services rose easing the Federal Reserve's concern that inflation was running too low.(marketwatch.com)
AT&T will be the exclusive carrier for the new Amazon smartphone set to be announced today. The Amazon phone will reportedly have a three dimensional display. Shares of both companies rose on that news.(marketwatch.com)
The State of Oregon employment department reported Oregon's unemployment rate ticked up from 6.8% to 6.9% last month. The rise in the unemployment rate came despite the Oregon economy adding 4,200 jobs in May. The increase happened because more people ended the labor market.(Portland business journal)
