Category: Market News
The first 8%-plus inflation rate in over four decades is igniting renewed debate in financial markets over whether the U.S. has already reached the height of its feverish spell in price gains. Broadly speaking, Tuesday’s consumer price index report, showing annual headline inflation jumping to 8.5% in March, was enough to give both sides of […]
Gold futures rose Tuesday for a fourth straight session, with prices marking their highest settlement in a month. The precious metal is seen as a hedge against inflation and U.S. data Tuesday showed that annual inflation rose above 8% in March for the first time in 40 years. June gold GCM22, +1.39% rose $27.90, or […]
San Francisco-based insurance technology provider Newfront said Tuesday its valuation now tips the scale at $2.2 billion with a $200 million investment from the growth equity business within Goldman Sachs Asset Management and B Capital, with participation from existing investors including Founders Fund and Meritech Capital. Newfront, which employs 800 people and operates an insurance […]
The Food and Drug Administration’s decision on Monday to lift the partial hold on Gilead Sciences Inc.’s GILD, -0.66% magrolimab for two indications is “good news” for the company, according to RBC Capital Markets analysts. “While GILD still has much to prove around its emerging oncology franchise, we see this as a much-needed piece of […]
Philadelphia has become the first big city to reinstate its indoor face-mask mandate after COVID-19 cases rose more than 50% in 10 days, which the health commissioner, Cr. Cheryl Bettigole said is the threshold for the city’s guidelines on the matter. Health inspectors will start to enforce the mask mandate at city businesses starting April […]
Steven Goldstein is based in London and responsible for MarketWatch’s coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch’s economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein. Source: Marketwatch
The dollar touched another two-year high on Monday, pummeling the yen, as yields continued to rise on expectations for further rate increases by the Federal Reserve. The U.S. Dollar Index DXY, +0.19% briefly broke above 100 in overnight trading, the highest since May 10, 2020, and was up around 0.2%. The greenback also hit another […]
Shares of PG&E Corp. PCG, -5.37% dove 5.4% in afternoon trading Monday, after gas and electric utilities subsidiary Pacific Gas and Electric Company announced a total financial commitment $55 million as part of settlements of legal proceedings related to the 2019 Kincade Fire and the 2021 Dixie Fire. As part of the agreement, PG&E said […]
President Joe Biden on Monday during a virtual meeting with Indian Prime Minister Narendra Modi made clear that he doesn’t believe it’s in India’s interests to accelerate or increase its imports of Russian energy and other commodities, White House press secretary Jen Psaki said. She declined to say whether Modi made a commitment to avoid […]
The Dow Jones Transportation Average DJT, +0.39% bounced 97 points, or 0.7%, with 14 of 20 components gaining ground, to buck the selloff in the broader stock market. The rally comes after the Dow transports closed Friday at a six-month low, following a 13.4% plunge in eight days amid growing fears that rapidly deteriorating market […]