U.S. Treasuries rallied on Wednesday, as traders took a breather from a months-long selloff that had gathered pace in recent days, though the threat of another government shutdown sent one-year credit default swaps to their widest since June 1. Two-year Treasury yields fell 8 basis points to 5.052% and 10-year yields fell nearly 6 bps to 4.501%, causing the gap between the two yields to hit 53 bps, its narrowest since May.
When CS Disco (NYSE: LAW) went public in July 2021, it impressed the bulls with its goal of streamlining law practices with artificial intelligence (AI), cloud computing, and data analytics services. CS Disco priced its IPO at $32, and its stock opened at $44 before soaring to a record high of $65.88 on Sept. 8, 2021. It lost its luster as its revenue growth cooled off, it remained deeply unprofitable, and rising interest rates popped its bubbly valuations.
Around 1 p.m. President Biden joined the United Auto Worker picket lines outside the General Motors' Willow Run Redistribution Center in Belleville. The plant was President Biden's only stop in Michigan, where he addressed the union members picketing, fighting against the Big 3 for better wages and benefits for around 150,000 workers. A UAW member, Angelina Ontiveroz, was present during the presidential visit.
STORY: Europeans might have enjoyed September's warm weather, but H&M did not.The Swedish retailer blamed unusually hot weather for delaying the start of the autumn shopping season.And for sending sales lower in September.H&M said sales this month would be down a tenth year-on-year.That compares with its chief rival - Zara owner Inditex - which reported sales between August and mid-September - as being up 14%.The drop-off is a blow to the world's second-largest fashion retailer as it tries to turn its performance around and compete with Inditex.But although September proved a difficult month, operating profit in the June-August period, the Swedish group's third quarter, jumped to $431 million.That was well up from last year and slightly above forecasts.Overall, investors were pleased with the numbers coming out of H&M Wednesday (September 27), driving shares 5% higher in early trade. H&M stuck to a goal of raising its operating margin to 10% next year.It also said its cost-cutting program was continuing "at full speed."
Safety is a relative concept on the stock market. Not only do these stocks tend to be more stable than their non-dividend-paying peers in periods of market volatility, but their steady payouts provide a buffer for your returns. Walmart has a well-earned reputation for being a recession-resistant company.