Stock Rotation Hits Megacaps on Bets Fed Will Cut: Markets Wrap Wall Street traders betting the Federal Reserve will be able to cut rates soon sent bond yields tumbling — while driving a rotation out of the tech megacaps that have powered the bull market in stocks.
Lockheed Set to Resume F-35 Deliveries to Pentagon Next Week The Pentagon will take deliveries of F-35 fighter jets again next week instead of continuing to wait for a delayed hardware and software upgrade, a decision that could bring $700 million to manufacturer Lockheed Martin Corp. by the end of the year.
New Yorkers See 58% Rise in Food-Delivery Fees New Yorkers have paid 58% more in food-delivery fees since before a minimum-wage law went into effect in late 2023, according to a city agency report, suggesting that restaurant-delivery services have passed on the bulk of these rising costs to customers.
Anastasia Amoroso of ICapital says she's not surprised by the tech selloff. She says the Federal Reserve is is running out of excuses to not cut interest rates. (Source: Bloomberg)
