Mexico's Slowing Economy Gives Banxico Space to Cut Key Rate, Official Says
Mexico's central bank has room to continue cutting its benchmark interest rate as the country's economy slows and the odds of a recession increase, according to Deputy Governor Jonathan Heath.
The current economic scenario makes it 'highly likely' that Banxico, as the bank is known, will continue to lower interest rates at its May 15 meeting while maintaining the restrictive stance necessary to bring inflation to target, Heath said in an interview on the Grupo Financiero Banorte podcast released Wednesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
37 minutes ago
- Associated Press
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Krispy Kreme
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Krispy Kreme To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $100,000 in Krispy Kreme between February 25, 2025 and May 7, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - June 8, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Krispy Kreme, Inc. ('Krispy Kreme' or the 'Company') (NASDAQ: DNUT) and reminds investors of the July 15, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. [ This image cannot be displayed. Please visit the source: ] Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that demand for Krispy Kreme products declined materially at McDonald's locations after the initial marketing launch; (2) that demand at McDonald's locations was a driver of declining average sales per door per week; (3) that the partnership with McDonald's was not profitable; (4) that the foregoing posed a substantial risk to maintaining the partnership with McDonald's; (5) that, as a result, the Company would pause expansion into new McDonald's locations; and (6) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On May 8, 2025, before the market opened, Krispy Kreme released its first quarter 2025 financial results, reporting its 'net revenue was $375.2 million…a decline of 15.3%" and a 'net loss of $33.4 million, compared to prior year net loss of $6.7 million.' Additionally, the Company announced that it is 'reassessing [its] deployment schedule together with McDonald's' and 'withdrawing [its] prior full year outlook and not updating it' due in part to 'uncertainty around the McDonald's deployment schedule.' On this news, the price of Krispy Kreme shares fell 24.71%, or $1.07 per share, to close at $3.26 per share on May 8, 2025, on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Krispy Kreme's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Krispy Kreme class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit
Associated Press
37 minutes ago
- Associated Press
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Iovance Biotherapeutics
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Iovance To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $100,000 in Iovance between August 8, 2024 and May 8, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - June 8, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Iovance Biotherapeutics, Inc. ('Iovance' or the 'Company') (NASDAQ: IOVA) and reminds investors of the July 14, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. [ This image cannot be displayed. Please visit the source: ] Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the true state of Iovance's growth potential; notably, that it was not equipped to generate and drive demand or was otherwise ill equipped to capitalize upon the purported existing demand for its treatments through its network of approved treatment centers. On July 25, 2024, Iovance announced its financial results for the second quarter of fiscal 2024 and reduced its revenue guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on 1) 'the iCTC completed annual scheduled maintenance in December' and 'capacity was reduced by more than half for about 1 month,' 2) "[l]ower Proleukin sales' than the company expected, and 3) 'the variable pace at which ATCs began treatment patients.' Investors and analysts reacted immediately to Iovance's revelation. The price of Iovance's common stock declined dramatically. From a closing market price of $3.17 per share on May 8, 2025, Iovance's stock price fell to $1.75 per share on May 9, 2025, a decline of about 44.795% in the span of just a single day. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Iovance's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Iovance class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit
Yahoo
42 minutes ago
- Yahoo
A fresh inflation reading greets a stock market back near all-time highs: What to know this week
The S&P 500 (^GSPC) is now roughly 2% from reaching a fresh all-time high. Stocks ended last week on a high note as a broad-based rally following Friday's May jobs report clinched weekly gains for all three major indexes. The Nasdaq Composite (^IXIC) rose more than 2.3%, while the S&P 500 popped about 1.6% and the Dow Jones Industrial Average (^DJI) rose above 1%. Updates on consumer and wholesale inflation for the month of May will headline the week ahead. The first reading of the University of Michigan's consumer sentiment survey for the month is also due for release at the end of the week. In corporate news, earnings from GameStop (GME), Oracle (ORCL), and Adobe (ADBE) highlight a sparse week of planned quarterly releases. Apple's (AAPL) Worldwide Developers Conference will also be in focus. On Friday, the May jobs report showed the US labor market added 139,000 jobs in the month, while the unemployment rate held flat at 4.2%. The data largely cooled fears that the US economy is rapidly deteriorating. Economists mostly said the report would prompt the Federal Reserve to hold interest rates steady when it announces its next policy decision on June 18. Still, some economists continue to highlight cracks emerging underneath the surface. Renaissance Macro head of economics Neil Dutta noted that Friday's report contained significant downward revisions to the prior month's payroll additions, a falling employment rate for workers aged 25 to 54, and an increasing unemployment rate on the margin. Unrounded, the unemployment rate increased to 4.244% in May from 4.187% in April. "The Fed and the markets appear to be looking at labor market conditions at a surface level while ignoring some obvious signs of weakness under the surface," Dutta wrote. "The pressure will keep building the longer the Fed waits." The CEO of one of the world's largest companies and President Trump are full-on feuding. After days of Tesla (TSLA) CEO Elon Musk bashing Trump's tax bill, the president responded in scathing fashion on Thursday. Trump wrote in a Truth Social post that the easiest way to save money in the budget is to "terminate Elon's Governmental Subsidies and Contracts." He added in a separate post, "Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' The spat drove Tesla stock down more than 14% in its worst single-day market cap loss in history. The decline helped drag down both the S&P 500 and Nasdaq on Thursday. On Friday, Tesla stock rallied modestly, rising almost 4%. But investors shouldn't consider the fallout to be over. "As a shareholder, [this] couldn't be worse for Elon and his properties and his investments and the future that he has because Trump's got another three and a half years," Ross Gerber, president and CEO of Gerber Kawasaki Wealth and Investment Management, told Yahoo Finance. "Elon, in his ego and sort of weird haze of reality, actually thinks he's more powerful than Trump. This is now a showdown." After several encouraging prints in a row, the May Consumer Price Index (CPI) is expected to show price increases accelerated amid tariff uncertainty. Wall Street economists expect headline inflation rose 2.5% annually in May, an increase from the 2.3% seen in April. April's report had shown the slowest annual price increase since February 2021. On a "core" basis, which strips out food and energy prices, CPI is expected to have risen 2.9% over the last year in May, up from the 2.8% increase seen in April. Monthly core price increases are expected to clock in at 0.3%, above the 0.2% seen the month prior. "Tariffs should have a clearer impact on goods, but seasonal factors on autos and modest services will keep a lid on core [price increases]," Bank of America US economist Stephen Juneau wrote in a note to clients. In April, negative tariff headlines regularly rattled markets. Lately, that's been the case to a lesser degree. This was on display Wednesday, when stocks managed to close higher despite an escalation of trade tensions. Barclays head of US equity strategy Venu Krishna told Yahoo Finance that the recent market action has been a part of the "broad realization" that the extreme levels of tariffs can't be taken at face value. Krishna and other strategists have also pointed out that the peak level of tariff uncertainty, which came when Trump increased the effective US tariff rate to its highest level in more than a decade on April 2, has already passed. Morgan Stanley chief investment officer Mike Wilson showed this by looking at how market volatility, as measured by the CBOE Volatility Index, or VIX, has moved lower in tandem with Bloomberg's US Trade Policy Uncertainty Index, which analyzes news articles for mentions of trade policy and uncertainty. "The bottom line is that while uncertainty remains high around the eventual tariff outcome, the rate of change on policy headwinds has become much less onerous." Wilson wrote. "This has reduced recession risk and is giving corporates and consumers more confidence in the forward looking outlook." Economic data: New York Fed one-year inflation expectations, May (3.63% previously); Wholesale trade sales month-over-month, April (+0.3% expected, +0.6% prior) Earnings: Casey's (CASY) Economic data: NFIB small business optimism, May (95.9 expected, 95.8 prior) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Wednesday Economic data: Consumer Price Index, month over month, May (+0.2% expected, +0.2% previously); Core CPI, month over month, May (+0.3% expected, +0.2% previously); CPI, year over year, May (+2.5% expected, +2.3% previously); Core CPI, year over year, May (+2.9% expected, +2.8% previously); Real average hourly earnings, year over year, May (+1.4% previously); MBA Mortgage Applications, week ending June 6 (-3.9% previously) Earnings: Chewy (CHWY), Oracle (ORCL), Vera Bradley (VRA), Victoria's Secret (VSCO) Economic data: Producer Price Index, month-over-month, May (+0.3% expected, -0.5% previously); PPI, year over year, May (+2.4%); Core PPI month-over-month, May (+0.4% expected, -0.4% prior); Core PPI year-over-year, May (+3.1%); Initial jobless claims, week ending June 7 (247,000 previously); Continuing claims, week ending May 31 (1.904 million prior) Earnings: Adobe (ADBE), Lovesac (LOVE), RH (RH) Economic data: University of Michigan Consumer Sentiment, June preliminary (52 expected, 52.2 prior) Earnings: No notable earnings releases. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Sign in to access your portfolio
