Category: Market News
Oil futures settled higher on Wednesday as news reports said Russia shelled areas of Ukraine where Moscow had promised just a day earlier that it would scale back military operations. “Whether peace talks are real or not, the truth is that we have a global market that is undersupplied regardless,” said Phil Flynn, senior market […]
All three major U.S. stock benchmarks closed lower Wednesday, with the Dow Jones Industrial Average and S&P 500 snapping four-day winning streaks, after Russia indicated no breakthrough in peace talks with Ukraine and oil prices climbed. The Dow DJIA, -0.19% fell 0.2%, the S&P 500 SPX, -0.63% slid 0.6% and the Nasdaq Composite COMP, -1.21% […]
U.S. inflation, already at a 40-year high, is likely to remain hot even after the Federal Reserve completes all 10 to 11 of its projected quarter-point rate hikes through the end of next year, according to Credit Suisse research analysts. In a note on Tuesday, Jonathan Golub, chief U.S. equity strategist and head of quantitative […]
Shares of Robinhood Markets Inc. HOOD, -8.49% pulled back 8.8% in afternoon trading Wednesday, after downbeat analyst commentary following the previous session’s big rally. Analyst Kenneth Worthington at J.P. Morgan reiterated his underweight rating on the trading app and his $11 stock price target, but widened his 2022 adjusted per-share loss estimate to 84 cents […]
Gold futures finished higher on Wednesday, finding support with investors wary of Russia’s pledge a day earlier to scale back some military options. News reports said Russia shelled areas of Ukraine that were part of that pledge. That contributed to losses in U.S. benchmark stock indexes, renewing haven demand for gold. June gold GCM22, +0.94% […]
Wendy’s Co. WEN, +0.45% announced the April 2 launch of its first virtual restaurant, in partnership with Meta’s FB, +0.38% Horizons World. Wendyverse will feature a restaurant that replicates a bricks-and-mortar Wendy’s location, and the Buck BiscuitDome, a basketball court where guests can be on court, and get deals on real-life Wendy’s menu items. Users […]
Shares of Paychex Inc. PAYX, +2.05% surged 1.9% toward a three-month high in premarket trading Wednesday, after the human resources outsourcing services company reported fiscal third-quarter profit and revenue that rose above expectations, and boosted its full-year growth outlook, as record new sales revenue was coupled with high levels of client retention. Net income for […]
Trulieve Cannabis Corp. TCNNF, +1.22% TRUL, +1.17% posted weaker-than-expected earnings for the fourth quarter on Wednesday, as it booked charges and costs related to the acquisition of Harvest Health & Recreation which closed last October. The Tallahassee, Florida-based company swung to a loss of $71.5 million, or 49 cents a share, in the quarter, after […]
President Joe Biden on Tuesday took a wait-and-see approach to Russia’s announcement that it would scale back military operations near Ukraine’s capital. “We’ll see,” Biden told reporters when asked about Russia’s statement. “I don’t read anything into it until I see what their actions are,” Biden said during a brief joint appearance with Singaporean Prime […]
William Watts is MarketWatch’s senior markets writer. Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. Before moving to New York, he reported for MarketWatch from Frankfurt, London and Washington, D.C. Source: Marketwatch