Federal Reserve Governor Christopher Waller says that the central bank may need to enact one or more 50-basis-point interest rate hikes this year to tame inflation.
Following the stock market opening on Friday, the S&P 500 and Nasdaq is trading 0.13% and 0.68 higher respectively.
The 10-year Treasury yield continues to hover above 2.1% after jumping to May 2019 highs of 2.24% immediately after the Fed’s rate rise and signaling for six more rate increases this year.
For reference, this is a substantial change from the earnings of $1.19 per share it posted in its fiscal 2020 fourth quarter.
To remedy this, GameStop’s executives “made the conscious decision to lean in and absorb higher costs in order to meet customer demand.” At the same time, the company is also actively working to change up its core strategy.
Not to mention, GameStop now has a roadmap for the launch of its non-fungible token marketplace.
Alternatively, the likes of StoneCo is among the top gainers in the stock market today.
He says, “We were always very aggressive when it comes to growth, but we tried doing too many things at once and lost our management capacity.” Regardless, Piau and his team seem to be keen on learning from their mistakes moving forward.
In the larger scheme of things, StoneCo seems to be keen to make the most of its hard work over the past year.
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