Category: Market News
U.S. stocks opened with sharp gains Wednesday, finding support as oil futures pulled back from nearly 14-year highs while investors monitor developments in the Russia-Ukraine war. The Dow Jones Industrial Average DJIA, +1.15% was up 606 points, or 1.9%, at 33,242, whiel the S&P 500 SPX, +2.57% jumped 2% to 4,254. The Nasdaq Composite COMP, […]
Shares of Chevron Corp. CVX, -2.50% dropped 2.6% in morning trading Wednesday, putting them on track to snap a long losing streak, as hopes for some easing of Russia’s military attack on Ukraine triggered a pullback in crude oil prices. Chevron’s stock was the biggest decliner, of the only 2 of 30 Dow Jones Industrial […]
The Energy Information Administration reported on Wednesday that U.S. crude inventories fell by 1.9 million barrels for the week ended March 4. On average, the EIA was expected to show crude inventories down by 700,000 barrels, according to analysts surveyed by S&P Global Commodity Insights. The American Petroleum Institute on Tuesday reported a 2.8 million-barrel […]
Skechers USA Inc. SKX, +2.35% said Wednesday it is temporarily suspending shipments of its sporty footwear and apparel to Russia following its invasion of neighboring Ukraine. The company said it’s also donating $250,000 in humanitarian aid to Ukraine and matching employee donations up to another $250,000. “We have deep concern for Ukraine and its citizens, […]
Oil futures fell sharply Wednesday, with U.S. prices down by more than 12% just a day after settling at their highest since 2008. U.S. benchmark oil remains overbought and could continue to pullback towards an initial support zone between $107 and $112, said Tyler Richey, co-editor at Sevens Report Research. However, a retreat in prices […]
Shares of Natera Inc. NTRA, -32.79% plummeted 32.9% in active afternoon trading Wednesday toward a 22-month low, enough to pace all of the Nasdaq’s decliners, after noted short seller Hindenburg Research called the Texas-based genetic testing services company, “Pioneers in deceptive medical billing.” Trading volume ballooned to 33.9 million shares, compared with the full-day average […]
U.S. stocks ended sharply higher Wednesday, bouncing as investors continued to track the Russia-Ukraine war and its potential economic fallout. The Dow Jones Industrial Average DJIA, +1.15% rose around 653 points, or 2%, to end near 33,285, while the S&P 500 SPX, +2.57% gained 2.6% to finish near 4,278. The Nasdaq Composite COMP, +3.59% jumped […]
Impossible Foods Inc. on Wednesday sued Motif FoodWorks Inc., a plant-based technology rival, for patent infringement. The suit, filed in federal court in Delaware, alleges Motif’s plant-based beef replica product made with bovine myoglobin infringes upon one of Impossible’s patents. “We applaud other companies’ efforts to develop compelling plant-based products, but we do not tolerate […]
Gold futures posted their first loss in five sessions on Wednesday, easing back a day after settling above the $2,000-an-ounce mark for the first time since August 2020. The fall back in prices comes amid a “general shift in sentiment across asset classes,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. Still, “it’s […]
A U.S. congressional committee is asking the Justice Department to investigate Amazon.com Inc. AMZN, +1.83% and some of its executives for a potential criminal obstruction of Congress, the Wall Street Journal reported Wednesday, citing people familiar with the matter and a letter it has obtained. The letter is dated March 9 and addressed to U.S. […]