Carvana Slides After Q4 Revenue Falls 24%
Carvana Co. (CVNA) shares are falling more than 16 percent on Friday morning trade after the company reported 24 percent decline in fourth-quarter revenue to $2.837 billion.
Currently, shares are at $8.53, down 15.38 percent from the previous close of $10.08 on a volume of 11,692,167.
Opinion | Right Wing or Woke? The Complicated Politics of ‘Yellowstone.’
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By Ross Douthat
Opinion Columnist
Love Letter: A Decade-Long Negotiation
After growing up with a tumultuous family life, Rachel Heng decided that she did not want children. However, her husband desperately wanted to become a father.
Ms. Heng writes about how she and her husband negotiated this impasse in this week’s Modern Love essay, “How Could I Deny Him Fatherhood?”
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Here’s how to submit a Modern Love essay or an Unhitched column. Don’t feel like writing more than two tweets, an Instagram caption or a Facebook post? Consider submitting to Tiny Love Stories, which are no more than 100 words.
Stocks Sink for Third Straight Week
A turn in the market has eroded the sharp rally at the start of the year, as investors have fretted about recent signals suggesting a resurgence in inflation.
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141 Nations Back UN Motion Demanding Russian Withdrawal From Ukraine
The UN General Assembly has passed a resolution calling on Russia to end hostilities in Ukraine and withdraw all of its military forces from the war ravaged country.
The resolution was introduced at an emergency special session on the eve of the first anniversary of the war.
141 UN Member States voted in favor of the resolution and seven countries, including Russia, Belarus, North Korea and Syria, voted against it. Among the 32 abstentions were China, India and Pakistan.
The Assembly, through the resolution, urged Member States to cooperate in the spirit of solidarity to address the global impacts of the war on food security, energy, finance, the environment and nuclear security and safety.
The Assembly also emphasized the need to ensure accountability for the most serious crimes under international law committed in Ukraine through independent national or international investigations and prosecutions
The world body on Thursday rejected an amendment proposed by Belarus that calls on Member States to refrain from sending weapons to the zone of conflict.
Spring Comes Early With This Bright, Cozy Dinner
A mustardy beet salad, a creamy chicken main and a warm lemon pudding: This menu from David Tanis looks ahead in all the right ways.
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By David Tanis
Crude Oil Closes Notably Higher After Recovering From Early Weakness
After coming under pressure early in the session, the price of crude oil showed a significant turnaround over the course of the trading day on Friday.
Crude for April delivery jumped $0.93 or 1.2 percent to $76.32 after falling as low as $74.09 a barrel in early trading.
With the notable increase on the day, the price of crude oil extended the surge seen in the previous session, further offsetting recent weakness.
Oil prices moved sharply lower in early trading amid concerns about the outlook for interest rates following the release of hotter-than-expected U.S. inflation data.
The Commerce Department said annual growth by core consumer prices, which exclude food and energy prices, accelerated to 4.7 percent in January from an upwardly revised 4.6 percent in December.
Economists had expected the annual rate of growth by core consumer prices to slow to 4.3 percent from the 4.4 percent originally reported for the previous month.
Paul Ashworth, Chief North America Economist at Capital Economics, called the data “another sign that the Fed might have to leave its policy rate higher for longer.”
However, selling pressure waned over the course of the session, with the subsequent turnaround partly attributed to news of a bigger-than-expected reduction in Russian oil production.
European Economic News Preview: Bundesbank Monthly Report Due
A monthly report from Germany’s central bank is the only major data due on Monday, headlining a light day for the European economic news.
At 2.00 am ET, Statistics Sweden is scheduled to issue consumer prices for January. Consumer price inflation is forecast to ease to 11.8 percent from 12.3 percent in December.
At 4.00 am ET, industrial production, producer prices and employment figures are due from Poland. Industrial production is seen growing 4.3 percent annually in January after rising 1.0 percent in December. Economists forecast producer price inflation to slow to 18.5 percent from 20.4 percent a month ago.
At 5.00 am ET, Eurostat releases euro area construction output data for December.
At 6.00 am ET, Germany’s central bank is set to publish the February edition of the Monthly Report that comments on the economic situation during the winter 2022/23.