Category: Market News
Baker Hughes BKR, +0.27% on Friday reported that the number of active U.S. rigs drilling for oil was up by four to 584 this week. That followed an increase of six oil rigs the week before, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by […]
Gold futures declined on Friday to post a loss of roughly 1.9% for the week. It’s been a “bad week for gold prices…as a stronger U.S. dollar and tighter monetary conditions” pushed Treasury yields higher, said Michael Hewson, chief market analyst at CMC Markets UK. August gold GCQ22, -0.45% fell $9.30, or 0.5%, to settle […]
Shares of ChargePoint Holdings Inc. CHPT, +11.79% charged up 12.7% in afternoon trading, after B. Riley analyst Christopher Souther initiated the electric vehicle charging network provider with a buy rating, given the company’s “dominant” market share and established brand. Souther set a $20 stock price target, which implies more than 40% upside from current levels. […]
Major U.S. stock indexes closed mixed Friday, but finished a turbulent week sharply lower on fears that high inflation and tighter financial conditions could derail the economy. The Dow Jones Industrial Average dija fell about 40 points, or 0.1%, closing near 29,886 and booking at 4.8% weekly decline. The S&P 500 index SPX, +0.22% rose […]
Oil futures declined on Friday, with U.S. prices posting a loss of more than 9% for the week. “Demand concerns are on the rise because of growing expectations that the global economy is heading for a slowdown in the coming months,” said Fawad Razaqzada, market analyst at City Index and FOREX.com. West Texas Intermediate crude […]
Crypto lender Celsius is scheduled to hold an AMA (ask me anything) session with its chief executive Alex Mashinsky at 1 p.m. ET on its YouTube channel on Friday. It will be the first time the company holds the routine Q&A session since the company paused withdrawals, swaps and transfers between accounts last weekend. Celsius […]
A Health Canada official told MJBiz that the agency does not expect to approve new regulations that would increase the possession limit for cannabis infused beverages until well after the summer months. A spokesperson for Health Canada said the rule change will not be completed before the fall of 2022. The proposed change would roughly […]
Fed Chairman Jerome Powell on Friday underscored the central bank’s complete attention is on cooling down runaway inflation. “My colleagues and I are acutely focused on returning inflation to our 2% objective,” Powell said, in opening remarks at a Fed conference on the international role of the dollar. Most of Powell’s brief remarks discussed the […]
Shares of Centene Corp. CNC, -1.06% rallied 1.8% in premarket trading Friday, after the health care company raised its full-year profit and revenue outlook and added $3.0 billion to its stock repurchase program. The company also said it was reducing its real estate footprint, as part of its plan to adopt “a more modern, flexible […]
AstraZeneca AZN, +0.48% AZN, +0.84% is considering a bid for London-based, U.S.-listed biotech Mereo BioPharma MREO, +16.03%, The Times reported without attribution. AstraZeneca already is a partner of Mereo, and the report said it may face competition from another of the cancer and rare disease specialist’s partners, which include Novartis NVS, +0.60%, OncXerna and Ultragenyx […]