Shares of several companies in the broader consumer discretionary sector, including Starbucks Corporation (NASDAQ:SBUX), are trading lower on continued volatility following Wednesday's Fed decision.
The Federal Reserve raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years. The Fed also said it will begin reducing the size of its balance sheet starting on June 1… Read More
Starbucks shares have been trending lower since the start of the year, but the stock did catch some bids Wednesday after the company reported strong earnings results… Read More
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Starbucks is one of the most widely recognized restaurant brands in the world, operating nearly 34,000 stores.
According to data from Benzinga Pro, Starbucks has a 52-week high of $126.32 and a 52-week low of $73.38. The stock closed Friday down 1.2% at $76.52.
