Category: Market News
All three major U.S. stock benchmarks ended higher Wednesday, with the technology-laden Nasdaq Composite leading the way up as investors digested minutes of the Federal Reserve’s policy meeting in early May. The Dow Jones Industrial Average DJIA, +0.60% closed about 0.6% higher, while the S&P 500 SPX, +0.95% gained around 1% and the Nasdaq Composite […]
President Joe Biden on Wednesday said he and first lady Jill Biden “will be traveling to Texas in the coming days” to “hopefully bring some little comfort” to families affected by the school shooting in Uvalde, Texas. Biden also reiterated his call for gun reforms and called for the Senate to confirm his nominee for […]
The Biden White House on Wednesday touted new projections from the Congressional Budget Office, noting the CBO estimates that the deficit this year “will fall by $1.7 trillion — the single largest nominal reduction in the federal deficit in American history.” Shalanda Young, director of the White House’s budget office, said: “With that historic reduction, […]
Tesla Inc. TSLA, +4.88% Chief Executive Elon Musk increased the amount of cash he is committing to acquiring Twitter Inc. TWTR, +3.91%, according to a Wednesday filing with the Securities and Exchange Commission. Musk increased his commitment by $6.25 billion, with the rest funded by debt financing, according to the filing. Margin-loan commitments for $12.5 […]
Valvoline Inc. VVV, +12.59% rallied 13.9% in late afternoon trade on Wednesday after the company’s shares were briefly halted due to volatility. The motor-oil company has been approached about a potential acquisition of part of its business by Aramco, the state-run oil company of Saudi Arabia, The Wall Street Journal reported, citing sources familiar with […]
Eli Lilly & Co. Inc. LLY, +0.18% said Wednesday that it plans to invest $2.1 billion in two new manufacturing sites in Indiana. The proposed sites are expected to create 500 jobs for Lilly workers. The company’s stock is up 10.8% for the year, while the broader S&P 500 SPX, +0.17% has declined 17.3%. Source: […]
Proxy research firm Institutional Shareholder Services is recommending against a proposed by Shopify Inc. SHOP, +1.19% to issue one founder share to its CEO Tobi Lütke, Barron’s reported on Wednesday. Combined with other securities at the internet commerce company, the founder share would help Lütke hold 40% of the total voting power of all of […]
Major U.S. stock benchmarks were up in choppy trade Wednesday morning, after opening lower, as investors await minutes from the Federal Reserve’s policy meeting in early May. The Dow Jones Industrial Average DJIA, +0.10% was up 0.2%, while the S&P 500 SPX, +0.14% rose 0.3% and the Nasdaq Composite COMP, +0.05% gained 0.5%, FactSet data […]
As predicted by health care experts, a new form of the omicron subvariant BA.2 has become dominant among new cases of COVID-19 in the U.S., the New York Times reported, citing data from the Centers for Disease Control and Prevention, which estimates it accounted for about 58% of all new cases in the week through […]
Shares of INmune Bio Inc. INMB, -24.62% plummeted 31.4% toward a 22-month low in premarket trading Tuesday, after the Florida-based biotechnology company said it received an email from U.S. Food and Drug Administration, saying that it placed the Investigational New Drug (IND) application to initiate its Phase 2 trial of its XPro Alzheimer’s treatment on […]