Category: Market News
The Dow and S&P 500 booked their best day of gains in about two weeks on Thursday as investors looked forward to hearing from the Federal Reserve’s Jerome Powell on Friday at the annual Jackson Hole, Wyo. economic gathering. The Dow Jones Industrial Average DJIA, +0.98% rose about 322 points, or 1%, ending near 33,292, […]
Gold futures ended higher Thursday for a third session in a row, finding support as the U.S. dollar weakened and Treasury yields pulled back ahead of Federal Reserve Jerome Powell’s speech at the Jackson Hole economic symposium Friday. Powell may provide clues on the plan for U.S. interest rates. December gold GCZ22, +0.43% climbed by […]
Aurora Cannabis Inc. ACB, +2.73% ACB, +3.47% said Thursday it agreed to acquire a controlling 50.1% interest in Bevo Agech Inc., the parent of Bevo Farms Ltd., operator of 63 acres of greenhouse facilities in British Columbia with revenue of C$39 million ($30.2 million) in the 12 months ending June 30. The deal includes a […]
U.S. stocks opened higher after fresh data showed a drop in weekly jobless claims, signaling that layoffs remain near record lows in a tight labor market even as the U.S. economy slows. The Dow Jones Industrial Average DJIA, +0.40% was up around 0.1% soon after the opening bell, while the S&P 500 SPX, +0.89% gained […]
Dollar Tree Inc. DLTR, -0.08% shares fell 8% before market open on Thursday as the retailer narrowed its full-year revenue forecast and gave weaker-than-expected earnings guidance. Dollar Tree reported second-quarter sales of $6.77 billion, compared with $6.34 billion in the same period last year, and slightly below the FactSet consensus of $6.79 billion. Dollar Tree […]
Atlanta Fed President Raphael Bostic told The Wall Street Journal in an interview that it’s a “coin toss” right now between supporting a half point or a 75 basis point rate hike in September. He said if data remains strong and inflation doesn’t soften, it may make the case for the larger increase. Bostic, who […]
Bed Bath & Beyond Inc. BBBY, +18.00% is in exclusive talks with Sixth Street Partners for a loan of close to $400 million, the Wall Street Journal reported Wednesday afternoon. The Journal reported on Tuesday that the struggling retailer had picked a loan partner, and the more recent report provides a name and some of […]
Shares of Autodesk Inc. ADSK, +0.37% rose more than 7% in the extended session Wednesday after the software company reported quarterly earnings above Wall Street expectations and kept its 2022 guidance intact, saying demand is “robust.” Autodesk said it earned $186 million, or 85 cents a share, in the fiscal 2023 second quarter, compared with […]
The benchmark 10-year Treasury yield TMUBMUSD10Y, 3.104% climbed on Wednesday to as high as 3.12%, the highest level since July 28, as medium-term inflation expectations continue to rise. The rise in those expectations was spilling over into nominal Treasury yields, according to Steve Englander of Standard Chartered Bank, with rates across the curve all moving […]
Oil futures moved lower in Tuesday dealings, as reports say that Iran is assessing the U.S. response to the European Union’s draft nuclear deal. Nasser Kanaani, spokesman for the Foreign Minister in Tehran, said Wednesday that Iran would comment on Washington’s reply through the EU when the assessment is complete, according to a report from […]
