Category: Market News
Shares of Digital World Acquisition Corp. DWAC, -3.10%, the special-purpose acquisition company, or SPAC, buying the company behind Donald Trump’s Truth Social social-media company, fell 4% Tuesday after news that Elon Musk is now offering to acquire Twitter Inc. TWTR, +12.67% at the original offer price of $54.20 a share. Musk agreed in April to […]
Stocks extended gains Tuesday after data showed a drop in U.S. job openings. The Dow Jones Industrial Average DJIA, +2.60% was up around 735 points, or 2.5%, bringing its gain to 5.3% over the past two days. That would be the largest two-day percentage rise for the blue-chip gauge since at least the two-day period […]
U.S. stocks opened higher on Tuesday, adding to their gains from Monday’s session as global bond yields continued to decline and talk of a possible “pivot” from the Federal Reserve intensified after the Reserve Bank of Australia delivered a smaller-than-expected 25 basis-point interest-rate hike. The Dow Jones Industrial Average DJIA, +1.90% rose 475 points, or […]
KalVista Pharmaceuticals Inc. shares KALV, -1.86% tumbled 47% in premarket trade Tuesday, after the company said it’s halting a Phase 2 trial of a treatment for hereditary angioedema, after multiple patients showed liver enzyme elevations. No patients had concomitant elevation of bilirubin levels and all were asymptomatic, the company said in a statement. “We made […]
Shares of Credit Suisse CSGN, +4.90% CS, +2.30% bounced 4% higher in early action, after the Swiss systemically important institution fell as much as 12% on Monday on worries over its financial health. The Swiss bank, which touched a record low on Monday, is nonetheless down 54% this year. Five-year credit default swaps widened on […]
Abner Kurtin, co-founder and former CEO of cannabis company Ascend Wellness Holdings AAWH, -2.20%, no longer faces battery charges against his domestic partner, MJ Biz Daily reported late Friday. The Miami-Dade State Attorney’s Office told MJ Biz Daily the charges were dropped because neither the alleged victim nor the witness agreed to cooperate with police […]
Rivian RIVN, -3.10% on Monday said it believes it is still on pace to produce 25,000 vehicles this year, in keeping with a prior target, despite earlier production setbacks for the electric-vehicle maker. Shares jumped 10% after hours. Management said the company produced 7,363 vehicles in the third quarter. The electric-vehicle maker said those vehicles […]
S&P Global Ratings on Friday moved its outlook on the U.K.’s AA sovereign credit rating to “negative” from “stable,” citing concerns about the country’s fiscal outlook. The British pound GBPUSD, +0.40% tumbled and yields on British government bonds, or gilts, soared after Treasury chief Kwasi Kwarteng on Sept. 23 unveiled a mini-budget plan that included […]
Robinhood Markets Inc. HOOD, +3.38% said late Friday it will take higher-than-expected restructuring charges as it exits leases on office space that it is not using. In a Securities and Exchange Commission filing Friday, the online broker said it expects to take charges of $90 million to $105 million in the third quarter, up from […]
A brutal third quarter in financial markets is about to come to a close and one thing is overwhelmingly clear: Inflation is the single most important factor driving financial markets right now and yet few, if any, people seem able to get it right. The reason? Professional forecasters, policy makers and traders all keep dismissing […]
