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(Bloomberg) -- Wall Street brokers have started selling insurers’ claims tied to Los Angeles’ deadly wildfires, which may trigger a payout from the utilities blamed for the destruction, according to people familiar with the matter. Most Read from BloombergNew York Subway Ditches MetroCard After 32 Years for Tap-And-GoAmtrak CEO Departs Amid Threats of a Transit Funding PullbackDespite Cost-Cutting Moves, Trump Plans to Remake DC in His StyleLA Faces $1 Billion Budget Hole, Warns of Thousands of

Fed Chair Jerome Powell said Wednesday his 'base case' is that higher inflation stemming from President Trump's tariffs will be 'transitory' — reviving memories of how central bank policymakers talked about inflation during the early stages of the COVID-19 pandemic.

The Fed’s consensus for GDP growth dropped from 2.1% to 1.7% after its latest round of economic forecasts published Wednesday.

Both Nasdaq and the New York Stock Exchange are in the process of making round-the-clock trading available five or even seven days a week, mimicking crypto’s trading hours.

Shares of footwear and accessories discount retailer Designer Brands (NYSE:DBI) jumped 13.8% in the morning session after the company reported improved fourth-quarter 2024 results: Same-Store Sales grew modestly (vs -7.3% in the same quarter last year), and gross margin blew past expectations. This marked the first positive growth in nine quarters, signaling early traction in the company's turnaround efforts.

Transaction fees made up just 1.3% of total block rewards in February, marking the lowest share since the last bear market bottom in 2022.

Shares of discount retailer Five Below (NASDAQ:FIVE) jumped 12.7% in the pre-market session after the company reported impressive fourth-quarter (Q1 2025) results: Revenue, EPS, and EBITDA all exceeded Wall Street's estimates. Sales growth was primarily driven by store expansion, with a 14.7% increase in locations compared to the previous year.

Shares of online used car dealer Carvana (NYSE: CVNA) jumped 9.6% in the morning session after Piper Sandler analysts upgraded the stock from Neutral to Buy, suggesting that the company's reduced valuation presented a buying opportunity. The analysts added "We would use the recent sell-off to accumulate CVNA shares."

Shares of heavy equipment distributor Titan Machinery (NASDAQ:TITN) jumped 17% in the afternoon session after the company reported decent fourth-quarter results which blew past analysts' revenue expectations. Adding to the positive, free cash flow improved significantly.

Mounting economic concerns have threatened to derail the AI trade, putting Nvidia stock on track to have its worst quarter since 2022.