Category: Market News
Shares of Redfin Corp. RDFN, -3.86% dropped 3.7% toward a record low in midday trading Tuesday, after the real estate brokerage disclosed a decision to lay off 470 employees, or about 6% of its workforce. The company said it plans to complete the job cuts by the end of June. Redfin said it expects to […]
The Dow Jones Transportation Average DJT, +2.09% powered up Tuesday, driven FedEx Corp.’s FDX, +12.55% best one-day stock performance in three decades, even as the broader stock market turned lower. The Dow transports shot up 313 points, or 2.4%, with 13 of 20 components gaining ground, while the Dow Jones Industrial Average DJIA, -0.08% fell […]
An earlier version of this article contained incorrect information about Frontier Group’s offer. The information has been removed. Spirit Airlines Inc. SAVE, -4.67% said Tuesday it continues to be bound to its merger agreement with Frontier Group Holdings Inc. ULCC, -7.26% after getting a rival June 6 offer from JetBlue Airways Corp. JBLU, -11.43%. Spirit […]
The U.S. listed-shares of Quidan Inc. QD, -11.16% soared 26.2% in premarket trading Tuesday, after the China-based online consumer finance company announced a $200 million stock repurchase program. The new program is more than the Quidan’s market capitalization of $182.7 million as of Monday’s closing prices, according to FactSet. The stock has run up 14.3% […]
The Dow Jones Industrial Average DJIA, -2.79% is tumbling 676 points, or 2.2%, in midday trading, and is about to make history with its point selloff, as surging inflation fuels recession fears. The Dow’s drop follows an 880.00-point drop on Friday and 638.11-point decline on Thursday. That would mark the first-ever three-day streak of declines […]
Shares of Signature Bank SBNY, -13.67% sank 12.8% in afternoon trading Monday, enough to pace the S&P 500’s SPX, -3.88% decliners, as the New York-based bank was hurting from a broad selloff in the financial sector and from the plunge in bitcoin BTCUSD, -2.75% toward an 18-month low. The stock was headed for the biggest […]
Gold futures fell on Monday to settle at their lowest price in more than three weeks. A continued surge in U.S. Treasury yields to levels last seen in 2007, along with the strength of the U.S. dollar saw gold reverse the price rise seen at the end of last week, said Michael Hewson, chief market […]
The S&P 500’s SPX, -3.88% top 9 companies by market capitalization have lost a total of more than $1 trillion in value the past four days. The S&P 500 has lost 3.0% in afternoon trading Monday as surging inflation and interest rates fuel recession fears. The index has sunk 9.1% over the past four sessions, […]
Oil futures finished higher on Monday after touching their lowest levels in nearly a week on concerns that renewed lockdowns in China would lead to lower energy demand. “Risk appetite is quickly leaving Wall Street and one of the few trades that is still looking attractive is oil,” said Edward Moya, senior analyst at OANDA. […]
U.S. stocks closed sharply lower Monday, with the S&P 500 entering a bear market, amid heightened fears over high inflation ahead of the Federal Reserve’s two-day policy meeting that kicks off Tuesday. The Dow Jones Industrial Average DJIA, -2.79% tumbled almost 900 points to close 2.8% lower, while the S&P 500 SPX, -3.88% dropped 3.9% […]