Category: Market News
White House press secretary Karine Jean-Pierre on Thursday criticized the National Rifle Association, after a reporter asked about the lobbying group’s plan to hold a convention on Friday in Houston, Texas, following the school shooting in Uvalde, Texas. “It’s not about the convention. What is inappropriate is that the leadership of the National Rifle Association […]
Read Next Elon Musk commits more cash to Twitter deal, sending Twitter stock higher and Tesla shares lower Tesla Inc. undefined Chief Executive Elon Musk increased the amount of cash he is committing to acquiring Twitter Inc. undefined, according to a Wednesday filing with the Securities and Exchange Commission. Musk increased his commitment by $6.25 […]
Shares of Iovance Biotherapeutics Inc. IOVA, +2.30% tumbled about 40% in after-hours trading on Thursday. The company had announced new clinical data for its experimental melanoma drug, including a 29% objective response rate in one cohort of patients. In that cohort, there were three complete responses and 22 partial responses, and the median duration of […]
Concerns over the potential for a policy mistake by the Federal Reserve “have clearly broadened,” and are being reflected in a deeply inverted forward spread on the 1-month overnight indexed swap rate, according to strategists at JPMorgan Chase & Co. In particular, the 1-year to 2-year forward spread on the 1-month OIS has declined to […]
Gold prices finish modestly higher on Thursday, after struggling for direction, as day after minutes of the Federal Reserve’s May meeting signaled a willingness by the central bank to potentially pause its course of rate hikes later this year, should economic data weaken. Gold for June delivery GC00, +0.09% GCM22, +0.09% added just 0.1%, or […]
Fed-funds futures traders are pulling back on their outlook for continued rate hikes as revised data released on Thursday shows the U.S. economy contracted by a deeper-than-expected 1.5% annual pace. After the data release Thursday morning, traders placed a 60% chance on the fed-funds rate target getting between 2.5% and 2.75% by December, up from […]
All three major U.S. stock benchmarks were trading sharply higher Thursday morning, as investors digested labor-market data showing initial jobless claims fell last week. The Dow Jones Industrial Average DJIA, +1.19% was up 1.2%, while the S&P 500 SPX, +1.20% gained 1.1% and the Nasdaq Composite COMP, +1.28% climbed 1%, according to FactSet data, at […]
Southwest Airlines Co. shares LUV, +1.73% jumped 2.9% in premarket trade Thursday, after the carrier updated guidance for the second quarter and raised its outlook for operating revenue. The airline is now expecting revenue to rise 12% to 15% vs. 2019, before the start of the pandemic, up from prior guidance of up 8% to […]
Gold futures closed lower on Wednesday, snapping 4-sessions of gains, as the dollar climbed and investors awaited the release of the Federal Reserve’s early May policy meeting for hints about its future policy course. Gold for June delivery GCM22, -0.03% [s:gc00] shed $19.10, or 1%, to settle at $1,846.30 an ounce on Comex. That marked […]
Most senior officials at the Federal Reserve “judged” that 1/2-point increases in a key U.S. interest rate would “likely be appropriate at the next couple of meetings,” according to the minutes of the central bank’s last strategy session in early May. The bank raised the short-term fed funds rate by 50 basis points after the […]