TPR News Explorer

U.S. stock index futures slipped in choppy trading on Wednesday, as investors assessed a CNN report that said President-elect Donald Trump was mulling a national economic emergency declaration, while a tick up in Treasury yields also pressured riskier stocks. Futures gave up early gains after the report added that the move will allow Trump to build the new tariff program by using the International Economic Emergency Powers Act, which authorizes a president to manage imports during a national emergency. Reports around potential surcharges on U.S. trade partners have kept investors on edge.

Stocks moved lower after Federal Reserve Chair Jerome Powell said the central bank is in 'no hurry' on rate cuts.

Comments from Jerome Powell could set the tone for rate cuts as the market assesses the impact of a Republican sweep in D.C.

The proposed merger that would've combined six luxury brands owned by Capri and Tapestry was abandoned by the companies due to regulatory challenges posed by an FTC lawsuit.

Fashion and apparel brands from Steve Madden to Under Armour, e.l.f. Beauty, and Ralph Lauren are preparing for President-elect Donald Trump’s promised tariffs.

A federal judge issued a ruling blocking the pending merger of luxury fashion brands Tapestry and Capri on the grounds it would undercut competition in the handbag market.

The F.T.C. had sued to halt the merger of Tapestry, the parent of Coach and Kate Spade, and Capri, the owner of Versace and Michael Kors.