Tag: Marketwatch

Global markets advanced but didn’t price in the euphoric reaction to Federal Reserve Chair Jerome Powell’s press conference that Wall Street did. In Asia, the Nikkei 225 NIK, +0.36% rose 0.4% and the Kospi Composite added 0.8%, while the Hang Seng HSI, -0.23% slipped 0.1% in late trade after the Hong Kong Monetary Authority matched […]

Oil futures climbed on Wednesday, with U.S. prices marking their highest settlement in a week. There’s “no other way to look at energy prices today and not have a bullish outlook,” said Tariq Zahir, managing member at Tyche Capital Advisors. The Energy Information Administration reported much larger inventory draws across the board, he said, with […]

Shares of Cassava Sciences Inc. SAVA, -13.95% plunged 21.0% in trading on Wednesday after Reuters reported that the Justice Department is investigating whether the company manipulated clinical data for a still-investigational Alzheimer’s disease drug, citing people familiar with the matter. Cassava put out a news release in December that said a scientific journal did not […]

Bitcoin BTCUSD, +1.34% jumped 9% over the past 24 hours, along with stocks’ rally, as the Federal Reserve Chairman Jerome Powell said that he doesn’t think the United States is in a recession. The Fed on Wednesday raised a key U.S. interest rate by 75 basis points, the fourth hike this year, in an aggressive […]

U.S. stocks closed sharply higher Wednesday, greeting the Federal Reserve’s latest rate hike with a torrid advance that saw the tech-heavy Nasdaq Composite clinch its biggest daily gain since April 2020. The Nasdaq Composite gained 469.85 points, or 4.1%, to 12,032.42. The S&P 500 gained 102.56 points, or 2.6%, To 4,023.61. The Dow Jones Industrial […]

After extensive negotiations, key Democratic Sen. Joe Manchin of West Virginia on Wednesday said he has reached a deal with Senate Majority Leader Chuck Schumer, the New York Democrat, on an Inflation Reduction Act of 2022. “Rather than risking more inflation with trillions in new spending, this bill will cut the inflation taxes Americans are […]

Fitness franchisor F45 Training Holdings Inc. FXLV, -61.54% saw its shares nosedive 61.5% in Wednesday trading after the company announced the departure of its chief executive and founder Adam Gilchrist; a 45% workforce reduction, equal to 110 layoffs; and a sharp reduction in the number of new franchises and studios expected in 2022. Ben Coates, […]

The Federal Trade Commission has sued Facebook parent company Meta Platforms Inc. META, +6.55% to block it from acquiring virtual-reality company Within Unlimited. In a statement, FTC Bureau of Competition Deputy Director John Newman said, “Instead of competing on the merits, Meta is trying to buy its way to the top. Meta already owns a […]

This report has been updated to correct the nature of the vote. The U.S. Senate on Wednesday advanced a microchips and science bill to a final vote, with 64 senators voting in favor and 33 in opposition. The measure, which provides $52.7 billion for the chips industry, could get signed into law in a matter […]

Twitter Inc. TWTR, +0.44% reportedly plans to pare back its office space in several cities as looks to trim costs. A Bloomberg News reporter tweeted Wednesday that a Twitter internal memo detailed plans to cut back office sizes in San Francisco, New York, Tokyo, Mumbai, and Dublin. The tweet further noted that Twitter is contemplating […]