The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
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Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
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With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
Bernstein initiated overweight coverage of several retailers it sees as "companies that don't go out of style." Highlighting both off-price retailers as well as apparel and footwear companies, Bernstein issued numerous new price targets on major clothing sellers, a group some investors may be wary of in the wake of Amazon's ascent.
"We initiate coverage with a bullish outlook on apparel, which feels controversial in a time when investors assume Amazon will take over the world," wrote analyst Jamie Merriman.
"Simply, we believe that worries that consumers just don't buy clothing anymore are overdone and that strong brands and a few channel winners are not only investable, but given the current skepticism in the market, are also very attractively valued."
Merriman noted that the rise of e-commerce will favor the biggest brands, and deemed the athletic apparel and footwear categories the winners.
Here are three of Bernstein's overweight picks, complete with analysis and price targets.