Stocks Up on Wholesale Inflation Data, But CarMax and Globe Life Fall on Earnings Misses and Fraud Allegations
• U.S. stocks climbed as investors weighed encouraging wholesale inflation data against concerning consumer price data • CarMax shares plunged as vehicle affordability challenges hurt demand and quarterly results missed estimates • Constellation Brands stock rose on better-than-expected Q4 earnings driven by a rise in beer sales • Globe Life stock fell over 23% to a 3-year low after a short seller alleged widespread insurance fraud • Amazon CEO’s letter highlighted generative AI's potential, benefits of regionalizing warehouses, and cost cutting