Stocks Retreat From Highs Ahead of Inflation Data; Berkshire Nears $1 Trillion Value as Ford Halts F-150 Shipments
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US stocks pulled back from record highs on Monday ahead of key inflation data later this week that could test the recent market rally. The Dow fell 0.2% while the S&P 500 dropped 0.4%.
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Berkshire Hathaway closed in on a $1 trillion valuation after posting a record annual profit for the second straight year. Warren Buffett struck a cautious tone on railroads and energy in his annual letter.
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Ford halted shipments of its 2024 F-150 Lightning EV and gas-powered F-150 trucks due to undisclosed quality issues that could impact first quarter results.
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Stock buybacks are increasing, with companies like Meta, Disney, and Uber announcing new plans amid rising earnings and cash flow. It's a sign of confidence in the economy.
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The FTC sued to block Kroger's $24.6 billion deal for Albertsons, claiming it would lead to higher prices and reduce competition between the grocery chains.