Stocks rose Wednesday, rebounding from the previous session after Federal Reserve Chairman Jerome Powell discussed a lack of further progress in reaching the central bank’s inflation goal of 2%, pushing back Wall Street’s expectations for interest-rate cuts to later in the year.
posted an adjusted first-quarter loss of 15 cents a share, much narrower than analysts’ estimates that called for a loss of 58 cents, and revenue jumped 10% to $12.5 billion on strong travel demand. The carrier also forecast second-quarter earnings of $3.75 to $4.25 a share, higher than analysts’ estimates, and maintained its full-year forecast for adjusted earnings of $9 to $11 a share. The stock was rising 11%.
was falling 7.7% after the property and casualty insurer reported first-quarter core earnings that missed analysts’ estimates and said catastrophe losses in the period rose to $712…