Category: Market News
Stocks closed sharply lower Thursday, capping a volatile and losing quarter for major U.S. equity indexes. The Dow Jones Industrial Average DJIA, -1.56% fell around 550 points, or 1.6%, to close near 34,678, according to preliminary figures, while the S&P 500 SPX, -1.57% fell around 72 points, or 1.6%, to end near 4,530.The Nasdaq Composite […]
A gasoline RB00, -3.85% tax holiday remains an option under consideration as the Biden administration seeks to give Americans relief from high prices, a White House spokeswoman said Thursday. “The president is not taking anything off the table at this stage,” White House communications director Kate Bedingfield told reporters. Earlier Thursday, Biden announced the U.S. […]
Oil futures dropped on Thursday as the U.S. announced its biggest-ever release from the nation’s Strategic Petroleum Reserve. President Joe Biden authorized the release of 1 million barrels of oil per day for the next six months. It’s “essentially a temporary measure designed to minimize the spring rally, and to that end, it could increase […]
Macy’s Inc. M, -3.75% said Thursday that it will open a fulfillment center in China Grove, N.C. in 2024 that will employ 2,800 workers. The facility, which will span 1.4 million square feet and cost $584 million, will account for 30% of the department store retailer’s digital supply chain capacity. Macy’s is also expanding its […]
The U.S. is targeting Russia’s technology sector in the latest round of sanctions aimed at punishing Moscow over its invasion of Ukraine. The Treasury’s Office of Foreign Assets Control said Thursday it is targeting operators in the sector “to prevent it from evading unprecedented multilateral sanctions and procure critical western technology.” Treasury is designating 21 […]
Shares of Vertex Pharmaceuticals Inc. VRTX, -0.57% gained 1.4% in premarket trading on Thursday after the company announced promising data for an acute-pain treatment that is an alternative to opioids. Vertex said its NaV1.8 inhibitor was well-tolerated and efficacious in two proof-of-concept Phase 2 clinical trials when given to participants who had undergone abdominoplasty surgery […]
Bausch Health Cos. Inc. BHC, -0.56% filed for an initial public offering of its Bausch & Lomb Corp. unit on Thursday, with plans to list on the New York Stock Exchange, under the ticker “BLCO.” The shares will also be listed on the Toronto Stock Exchange under the same ticker. Parent Bausch Health is based […]
Brewin Dolphin BRW, +60.38% shares jumped 61% to 511 pence after the Royal Bank of Canada RY, -0.22% agreed to buy the U.K. firm for £1.6 billion ($2.1 billion), or 515 pence per share, in cash. RBC said the deal will give it a number-three position in the U.K. and Ireland for its wealth management […]
The U.S. will give the Ukrainian government $500 million in “direct budgetary aid,” the White House said, following a call between Presidents Joe Biden and Volodymyr Zelensky on Wednesday. During their call, Zelensky updated Biden on the status of Ukraine’s negotiations with Russia, according to the White House. The two leaders spoke for about an […]
Shares of Canadian cannabis company Tilray Inc. TLRY, -2.16% were up 2.4% Wednesday in higher-than-average volume, on speculation surrounding an expected House vote this week on a bill that could decriminalize cannabis. The bill, called the Marijuana Opportunity Reinvestment and Expungement Act, or MORE Act, would remove cannabis from the Schedule I classification that has […]