Wall Street Today | Senate passes Democrats' climate, healthcare and tax bill
MACRO
Daly Says Fed Is 'Far From Done Yet' on Bringing Inflation Down
San Francisco Fed President Mary Daly suggested a 50 basis-point rate increase isn't locked in at the US central bank's next policy meeting, saying the Federal Reserve is "far from done yet" in bringing down inflation.
Senate Passes Democrats' Climate, Healthcare and Tax Bill
The Senate passed a bill raising taxes on large, profitable companies and spending hundreds of billions of dollars on programs aimed at reducing carbon emissions, as Democrats unified around elements of President Biden's agenda after a year of frustrated efforts to advance a broader package.
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The Most Americans Since 2008 Say Economy Is Getting Worse
About 69% of Americans think the US economy is getting worse, the highest since 2008, according to an ABC News/Ipsos poll. The gloom comes despite significant job growth and a rock-bottom unemployment rate, which has been offset by inflation running at the highest level in decades.
SECTORS
BlackRock Sees Demand Grow for Thematic ETFs as Inflation Hedge
Investors are turning to some thematic exchange-traded funds to hedge against inflation and take advantage of the renewed performance of value stocks this year, according to Jay Jacobs, US head of thematics and active equity ETFs at BlackRock Inc. Infrastructure, food-related, clean-energy themes see interest, Jacobs says.
COMPANY
Musk Says Twitter Deal Could Move Ahead With 'Bot' Info
Elon Musk said Saturday his planned $44 billion takeover of $Twitter (Delisted) (TWTR.US)$ could move forward if the company can confirm some details about how it measures whether user accounts are 'spam bots' or real people.
Buffett's Berkshire Hathaway Reports $44 Billion Loss as Portfolio Value Falls
Warren Buffett's company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted and he bought significantly fewer stocks, but Berkshire Hathaway's many operating companies generally performed well. $Berkshire Hathaway-A (BRK.A.US)$ $Berkshire Hathaway-B (BRK.B.US)$
Amazon's iRobot Deal Seen Facing Tough FTC Antitrust Review
$Amazon (AMZN.US)$Inc. is barrelling ahead with an aggressive acquisition strategy despite intense antitrust scrutiny in Washington, with its $1.65 billion deal to buy Roomba vacuum maker iRobot Corp. as the latest example.
UPS Nears Deal to Purchase Italian Healthcare Distributor Bomi Group
$United Parcel Service (UPS.US)$ Inc. is nearing a deal to acquire Italy's Bomi Group, according to people familiar with the matter, as the transportation giant looks to bolster its medical-product-distribution business. The deal, worth several hundred million dollars, could be finalized as soon as Monday assuming the talks don't break down at the last minute, the people said.
Source: Bloomberg, Dow Jones
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