Tag: Marketwatch
Stocks fell sharply Thursday, more than erasing a bounce that followed the Federal Reserve’s 75 basis point rate hike in the previous session, with analysts citing intensifying recession fears as global central banks aggressively tighten monetary policy. The Dow Jones Industrial Average DJIA, -2.42% dropped around 739 points, or 2.4%, to end near 29,929, according […]
Shares of Adobe Inc. ADBE, -3.14% fell nearly 5% in the extended session Thursday after the software company reported fiscal 2022 second-quarter results above Wall Street expectations and tweaked revenue expectations for the year. Adobe said it earned $1.18 billion, or $2.49 a share, in the quarter, compared with $1.12 billion, or $2.32 a share, […]
President Joe Biden said a U.S. recession is “not inevitable” in an interview with the Associated Press. Speaking to the news service in the Oval Office, Biden said the U.S. is “in a stronger position than any nation in the world to overcome this inflation.” Biden spoke a day after the Federal Reserve demonstrated it […]
Oil futures started off with losses on Thursday, as an interest-rate hike in the U.S. fueled worries about economic growth, but prices for the commodity finished higher as traders appeared to again focus on tight oil supplies. Prices had settled higher Monday on worries about a significant slowdown in Libyan oil production. In related news, […]
Shares of conglomerate Ebix Inc. EBIX, -43.57%, which offers payment services, travel and IT in India, slid 34% Thursday, after short seller Hindenburg Research questioned the company’s accounting in a new report. Hindenburg said some of the numbers the company has offered relating to its Indian unit EbixCash, which it is planning to take public […]
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 92 billion cubic feet for the week ended June 10. That compared to an average forecast for an increase of 89 billion cubic feet from analysts polled by S&P Global Commodity Insights. Working gas stocks include revisions to “reflect resubmissions of […]
Share of home builders were broadly lower Thursday, after data showing that U.S. housing starts fell a lot more than expected in May. The iShares U.S. Home Construction ETF ITB, -0.26% sank 2.0% in premarket trading, putting it on track for a near two-year low, as futures ES00, -1.84% for the S&P 500 SPX, +1.46% […]
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 […]