Category: Market News
Shares of biotech AC Immune SA ACIU, -9.21% slid 15% in premarket trade Thursday, after the company said a a trial of a treatment for Alzheimer’s disease failed to slow or prevent cognitive decline in patients with a specific genetic mutation that causes early-onset disease. The trial involved 252 people who are members of the […]
The Swiss franc CHFEUR, +1.73% surged against the euro after the Swiss National Bank joined the rate hike party. The franc rose to €0.9767 from €0.9631 on Wednesday. The central bank lifted its base rate by a half point, to negative 0.25%. It also expressed a willingness to intervene in the foreign exchange market as […]
Stocks trimmed gains Wednesday after initially holding their ground afterthe Federal Reserve delivered a 75 basis point hike in its fed funds rate — the largest such move since 1994 but one that was widely expected after a hotter-than-expected inflation reading at the end of last week. The Dow Jones Industrial Average gave up a […]
Gold prices settled higher on Wednesday, then seesawed — moving higher, then lower in electronic trading after the Federal Reserve announced the biggest interest-rate hike in nearly 30 years. Fed officials lifted the fed funds rate by 75 basis points to the 1.5% to 1.75% range. August gold GCQ22, +0.69% was last at $1,818.50 an […]
Financial stocks spiked up, then pulled back after the Federal Reserve raised its target on overnight rates by 0.75 percentage points on Wednesday. Although the 75-basis-point hike was expected, it was still historic, as it was the biggest increase in nearly three decades, and was the Fed’s way of saying it will act aggressively to […]
Dr. Anthony Fauci, President Joe Biden’s chief medical adviser who has led the U.S. through the pandemic, has tested positive for COVID-19, according to a statement from the National Institutes of Health. The 81-year-old Fauci, who is also head of the National Institute of Allergy and Infectious Diseases, is fully vaccinated and has had two […]
All three major stock benchmarks closed sharply higher Wednesday, after the Federal Reserve said it was raising its benchmark interest rate by three-quarters of a percentage point in an effort to fight high inflation. The Dow Jones Industrial Average DJIA, +1.00% rose around 300 points, or 1% higher, while the S&P 500 SPX, +1.46% gained […]
The Food and Drug Administration said late Wednesday that base powder for Mead Johnson’s Enfamil baby formula will begin shipping in June from Singapore to a Minnesota plant. The final product will be available “in the coming weeks,” the FDA said, with monthly follow-on shipments continuing through November. The formula would be used to meet […]
Oil futures ended lower on Wednesday after the Energy Information Administration reported a second straight weekly rise in U.S. crude inventories. Oil prices extended their decline after the Federal Reserve announced its decision to lift the fed funds rate by 75 basis points, the largest hike in almost three decades. West Texas Intermediate crude for […]
U.S. business inventories rose 1.2% in April, the government said Wednesday, to mark the seventh straight increase over 1%. Sales rose 0.4% in the month. An increase in inventories adds to gross domestic product and is usually a sign of an expanding economy. The ratio of inventories to sales, meanwhile, rose to 1.29 from 1.28. […]