Stocks were down Monday as the month and quarter came to an end, and ahead of a speech from Federal Reserve Chair Jerome Powell that could provide clues about the central bank’s plans for future rate cuts. American depositary receipts of Chinese electric vehicle maker NIO jumped 12% after NIO China secured a $2 billion investment from its parent company and state-backed investors. Stellantis the European maker of Chrysler and Jeep vehicles, said it now expects its full-year adjusted operating income margin to be between 5.5% and 7.0%, down from previous guidance of “double digit.” Read More...
Stocks were down Monday as the month and quarter came to an end, and ahead of a speech from Federal Reserve Chair Jerome Powell that could provide clues about the central bank’s plans for future rate cuts. American depositary receipts of Chinese electric vehicle maker NIO jumped 12% after NIO China secured a $2 billion investment from its parent company and state-backed investors. Stellantis the European maker of Chrysler and Jeep vehicles, said it now expects its full-year adjusted operating income margin to be between 5.5% and 7.0%, down from previous guidance of “double digit.”
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