Stock market today: Live updates

The retailer raised its quarterly dividend by 1.9% to $1.10 per share from $1.08. Goal shares rose barely within the premarket after the information. The inventory has been underneath strain lately, dropping practically 20% this quarter amid anti-Pleasure backlash.

U.S. Treasury yields climbed barely on Thursday as traders digested the Federal Reserve’s newest rate of interest determination, which noticed the central financial institution pause its rate-hiking marketing campaign, and weighed the coverage outlook. Steerage issued alongside the speed determination indicated that officers expect two extra hikes this 12 months.

At 4:29 a.m. ET, the yield on the 10-year Treasury was up by greater than two foundation factors to three.8232%. The two-year Treasury was final buying and selling at 4.7267% after rising by slightly below two foundation factors.

— Sophie Kiderlin

The pan-European Stoxx 600 index was down 0.2% at market open, with most sectors in unfavorable territory. Mining shares led losses with a 0.8% downturn, adopted by meals and beverage shares, which dropped 0.4%. Media and retail shares bucked the development and every gained 0.4%.

— Hannah Ward-Glenton

Chinese language property shares prolonged beneficial properties in Thursday morning commerce, after the Individuals’s Financial institution of China reduce the borrowing value of its medium-term coverage loans for the primary time in 10 months.

China’s new dwelling costs rose 0.1% in Could from a 12 months earlier, the primary enhance in annual phrases since April 2022, in line with the nation’s Nationwide Bureau of Statistics.

In Hong Kong, Longfor Group rose as a lot as 5.6%, Nation Backyard jumped as a lot as 6.8%, China Abroad Land climbed as a lot as 3.2%.

The shares later trimmed beneficial properties after China’s Nationwide Bureau of Statistics reported that funding in actual property growth dropped by 7.2% within the first 5 months of this 12 months in contrast with a 12 months in the past.

— Clement Tan

Oil costs inched barely increased Thursday following IEA’s forecast of worldwide oil demand progress peaking earlier than the top of the last decade.

Brent crude futures final traded 0.27% increased to $73.40 a barrel on that information, and U.S. West Texas Intermediate crude futures rose 0.34% to $68.50 a barrel.

Annual demand progress is ready to sluggish from present ranges of two.4 million barrels per day to 400,000 barrels per day in 2028, IEA mentioned Wednesday, attributing the reduce to the shift in the direction of a clear vitality economic system.

There may even be a spare provide capability of 4.1 million barrels per day, the company additional estimated.

—Lee Ying Shan

Japan’s exports in Could rose 0.6% 12 months on 12 months, in sharp distinction to forecasts of a decline of 0.8% by economists polled by Reuters.

Exports got here in at 7.29 billion yen ($52 million), in comparison with the 7.25 billion recorded in Could 2022.

Imports additionally noticed a smaller fall than anticipated, sliding simply 9.9% 12 months on 12 months to eight.67 billion yen in comparison with 9.62 billion yen a 12 months in the past.

Japan’s commerce deficit fell 42% year-on-year to come back in at 1.37 billion yen, in comparison with the two.37 billion yen in Could 2022.

— Lim Hui Jie

Shares of homebuilding firm Lennar rose 2.3% after the bell Thursday following its quarterly earnings announcement. Lennar posted an earnings and income beat in tits fiscal second quarter. The corporate additionally raised its full-year steering for deliveries.

Autozone additionally noticed its shares rise greater than 1% after its Board of administrators approved an extra $2 billion to its ongoing inventory repurchase program.

— Hakyung Kim

Mediterranean fast-casual restaurant chain Cava priced its preliminary public providing at $22 per share on Wednesday, individuals conversant in the matter informed CNBC’s Leslie Picker. Shares are anticipated to debut on the general public markets Thursday underneath the inventory image CAVA.

The corporate on Monday raised its pricing expectations to a variety of $19 to $20 per share. It deliberate to promote 14.4 million shares, in line with filings with the Securities and Trade Fee, which at a value of $22 per share would elevate practically $318 million.

At that pricing degree, the corporate could be valued at roughly $2.45 billion, based mostly on an impressive share rely of greater than 111 million shares.

Learn extra in regards to the IPO right here.

— Hakyung Kim, Sara Salinas

U.S. inventory futures opened little-changed Wednesday.

Dow Jones Industrial Common futures gained 14 factors, or 0.04%. S&P 500 and Nasdaq 100 futures added 0.13% and 0.16%, respectively.

— Hakyung Kim