Category: Market News
U.S. stocks advanced on Monday, adding to their gains after the best week for at least two of the three major indexes — the S&P 500 and the Dow — since June. The S&P 500 SPX, +1.19% finished 44.59 points, or 1.2%, higher at 3,797.34. The Dow Jones Industrial Average DJIA, +0.54% rose 417.06 points, […]
Oil futures settled lower on Monday, as lackluster import data from China and the conclusion of the Communist party’s national congress helped to dull expectations for energy demand from the world’s second largest oil consumer. U.S. benchmark West Texas Intermediate crude for December delivery CLZ22, -0.28% fell 47 cents, or nearly 0.6%, to settle at […]
Shares of Chesapeake Energy Corp. CHK, +0.85% edged up 0.1% in morning trading Monday, after S&P Global Ratings raised its rating on the oil and gas exploration company’s credit, citing a “favorable operational and financial track record” since merging from bankruptcy early last year. The rating moved up one notch to BB from BB-, but […]
TPG Inc.’s TPG, -0.07% TPG Real Estate unit said Monday it drew in $6.8 billion in investor commitments for its TPG Real Estate Partners IV LP, part of a series of opportunistic real estate vehicles at the private equity firm. Kelvin Davis and Avi Banyasz, partners and co-heads of TPG Real Estate, led the effort […]
Tesla Inc. TSLA, +3.45% has cut the prices of some of its vehicles in China, according to reports Monday. Reuters reported that Tesla reduced starting prices for the Model 3 and Model Y by as much as 9% in the country. Bloomberg News highlighted that the price of the basic Model 3 fell to 265,000 […]
Royal Philips NL, +3.00% PHIA, -1.01% on Monday said it will “immediately” cut 4,000 jobs after reporting a bigger-than-expected loss on Monday. Roy Jakobs, chief executive officer, announced the layoffs in a shareholder note, saying the company faces “multiple challenges and our earnings reflect this.” He said Philips plans to strengthen patient safety and quality […]
The Teamsters union on Friday said it had ratified its first-ever nationwide contract at Costco Wholesale Corp. COST, +2.92% — a master agreement the union said offered better pay and other benefits to more than 18,000 workers across the U.S. The agreement provides “significant wage improvements over the next three years and a substantial increase […]
Toy company Mattel Inc. MAT, +2.96% agreed to pay $3.5 million to settle charges related to alleged misstatements in third and fourth-quarter 2017 financial statements, the Securities and Exchange Commission announced Friday. Mattel miscalculated a tax-related valuation allowance in both quarters and did not correct the error until November of 2019, according to the SEC. […]
Oil futures climbed on Friday to post a gain for the week, but natural-gas futures fell sharply for the session to end the week more than 20% lower. “The Biden administration introduced an ‘SPR put’ to the oil market this week when they announced purchasing crude to replenish reserves when prices dip towards $70 a […]
President Joe Biden on Friday said “I will not yield” to Republicans in a standoff over raising the U.S. debt limit if the GOP demands cuts to Medicare and Social Security in exchange for an increase in the limit. Biden was speaking at the White House after the release of the fiscal year 2022 budget […]
