Category: Stock Market
President Joe Biden on Thursday said he will go to Florida “when the conditions allow it” to thank first responders who have helped victims of Hurricane Ian. Speaking at Federal Emergency Management Agency headquarters in Washington, Biden said the storm could be “the deadliest hurricane in Florida’s history,” and noted early reports of “what may […]
Acrimoto Inc. FUV, -8.33% announced Thursday a restructuring, with an aim of cutting its payroll expenses by 32% as part of its efforts to become profitable. The stock was halted for news until 1: 30 p.m. Eastern. The Oregon-based maker of “incredibly fun” electric vehicles for “moving people and stuff,” said the restructuring is expected […]
Sellers on the New York Stock Exchange (NYSE) are exhibiting panic-like behavior, according to the Arms Index, which is a volume-weighted breadth measure. The Arms (or TRIN) tends to rise above 1.000 when the stock market falls, as the ratio of declining volume to advancing volume exceeds the ratio of the number of declining stocks […]
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 103 billion cubic feet for the week ended Sept. 23. That compared with the average analyst forecast for an increase of 93 billion cubic feet, based on a survey conducted by S&P Global Commodity Insights. Total working gas stocks in storage […]
Stocks opened lower on Thursday, giving back a chunk of the previous session’s bounce, as Treasurys saw a resumed selloff that pushed yields back up. Stocks rose sharply Wednesday, ending a six-day losing streak that had sent the Dow Jones Industrial Average and S&P 500 to their lowest closes since November 2020. The bounce came […]
President Joe Biden and Republican Gov. Ron DeSantis of Florida spoke on Thursday morning about “steps the Biden-Harris Administration is taking to support Florida in response to Hurricane Ian, including the issuance of a Disaster Declaration this morning,” the White House said in a statement. Biden told DeSantis, who is seen as a potential 2024 […]
Siemens Gamesa Renewable Energy SA SGRE, +0.03% 0H4N, +0.11% GTQ1, +0.25% GCTAY, +0.36% GCTAF, -3.13% said Thursday it will lay off 2,900 people as the wind turbine maker takes steps to return to a profit in 2024. The company currently lists 27,000 employees on its website. The staff reductions include 800 employees in Denmark, 300 […]
Brookfield Renewable Partners LP BP, -0.62% BEPC, -2.29% BEPC, -1.76% said Thursday it will invest up to $2 billion in two renewable energy portfolios in the U.S. Brookfield Renewable will pay $1 billion and invest an additional $270 million to acquire Scout Clean Energy, which owns more than 1,200 MW of operating wind assets and […]
Shares of Alibaba Group Holding Ltd. BABA, -3.33% dropped 2.8% in premarket trading Thursday, after J.P. Morgan analyst Alex Yao said he turned “cautious” on the China-based e-commerce giant’s fiscal second-quarter revenue outlook, citing “weak China consumption.” Yao reiterated the overweight rating on the stock but cut the price target to $135 from $145.Yao expects […]
Steven Goldstein is based in London and responsible for MarketWatch’s coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch’s economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.