Tag: Marketwatch

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. […]

U.S. stock benchmarks opened higher Wednesday, as investors await the result of the Federal Reserve’s two-day policy meeting. The Dow Jones Industrial Average DJIA, +1.22% was up around 0.9% soon after the opening bell, while the S&P 500 SPX, +1.37% rose 1% and the Nasdaq Composite COMP, +1.53% gained 1.1%, according to FactSet data, at […]

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. Source: Marketwatch

Shares of Compass Inc. dropped 6.1% in afternoon trading Tuesday, after the online real estate platform said it was cutting about 450 jobs, or 10% of its workforce, as part of a restructuring aimed at cutting costs and align its organization structure with its business strategy. The company also said it planned to wind-down its […]