Cargo ship “Ever Given” stuck and blocking traffic in the Suez Canal Source: Reuters The massive container ship that ran aground in the Suez Canal, halting traffic in one of the world’s busiest waterways, is still stuck after little progress appeared to be made on Wednesday to dislodge the ship. The ship, called the Ever
Finance
Take a look at some of the biggest movers in the premarket: Intel (INTC) – Intel said it would spend $20 billion to build two new plants at existing facilities in Arizona, in an effort to grab more market shares and fill gaps created by a worldwide chip shortage. Intel aims to start production at
Canaccord Genuity’s Tony Dwyer is temporarily dialing back his appetite for stocks. On the one-year anniversary of the Covid-19 bottom, he’s telling investors the market is in “no man’s land.” “We’re in this period where the Russell 1000 growth mega cap stocks aren’t oversold anymore and the cyclical or economic recovery theme isn’t extreme overbought
A man looks at GameStop at 6th Avenue on February 25, 2021 in New York. John Smith | Corbis News | Getty Images Check out the companies making headlines after the bell on Tuesday: GameStop – Shares of the video game retailer dropped 11.9% after the company posted disappointing results for its fourth quarter. GameStop
The bronze Charging Bull in the financial district of New York City. Robert Nickelsberg | Getty Images Precisely one year ago, a new bull market was born. Powered by unprecedented stimulus, stocks crawled out of their deep pandemic rout and started sprinting. History indicates that after big bear market declines, strong bull markets usually follow
In this article .IXIC US10Y When rising Treasury yields put pressure on tech stocks, Invesco’s Kristina Hooper is looking to put money to work. Hooper, who oversees $1.3 trillion in assets, predicts the group’s growth potential will ultimately prevail over inflation fears. “Any time we see a tech sell-off, it’s an opportunity to buy some
LaylaBird The U.S. Labor Department launched a website Monday to help Americans report identity fraud linked to unemployment benefits. Unemployment fraud has surged during the Covid pandemic. Much of it is linked to organized crime rings that bought identity information stolen in past data breaches, according to the labor bureau. Criminals use this data to
Take a look at some of the biggest movers in the premarket: AstraZeneca (AZN) – The drugmaker said a U.S. study showed its Covid-19 vaccine had 79% efficacy in preventing symptomatic illness, 100% effectiveness against critical disease and hospitalization, and did not pose a higher risk of blood clots. AstraZeneca shares gained 2.2% in premarket
Jason Lee | Reuters BEIJING — U.S. investors are among the many foreigners looking to profit from China, particularly its bond market. One clear area of interest is in government bonds, where the Chinese 10-year has a yield of over 3.2%. In contrast, the latest rise in U.S. rates has pushed the 10-year Treasury yield
As more companies announce diversity and inclusion measures, Ariel Investments’ co-CEO Mellody Hobson believes there’s a simple way to hold corporations accountable: math. “Math has no opinion — have the math. The only way you can do that is commit to having an annual review of these issues to see where you’re gaining ground, where
Traders work on the floor of the New York Stock Exchange. NYSE Are you confused about what is going on in the markets? Traders sure are. “We all got comfortable thinking Covid was done or manageable, and it may turn out to still be a wild card,” Peter Tchir from Academy Securities told me. ”Nobody wants another
Gas prices are displayed at a Speedway gas station on March 03, 2021 in Martinez, California. Justin Sullivan | Getty Images One of the main reasons Federal Reserve officials don’t fear inflation these days is the belief that they have tools to deploy should it become a problem. Those tools, however, come with a cost,
The Federal Reserve on Friday declined to extend a pandemic-era rule that relaxed the amount of capital banks had to maintain against Treasurys and other holdings, in a move that could upset Wall Street and the bond market. In a brief announcement, the Fed said it would allow a change to the supplementary leverage ratio
Federal Reserve Chair Jerome Powell arrives for a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters Federal Reserve Chairman Jerome Powell reiterated his commitment to an “all-in” approach to the recovery, pledging in a commentary piece for the Wall Street Journal to keep policy loose.
Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Visa — Shares of the payment processor fell 4.7% in midday trading after a report said the Justice Department is investigating whether business practices at the payment processor’s debit-card business is leading to unlawful market dominance. The Wall Street
Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike came in 14 cents a share above estimates, with quarterly profit of 90 cents per share. The athletic footwear and apparel company’s revenue came in below analysts’ projections, however, and its full-year revenue outlook was also shy of estimates.
U.S. Secretary of State Antony Blinken (2nd R), joined by national security advisor Jake Sullivan (R), speaks while facing Yang Jiechi (2nd L), director of the Central Foreign Affairs Commission Office, and Wang Yi (L), China’s foreign minister at the opening session of U.S.-China talks at the Captain Cook Hotel in Anchorage, Alaska on March
A Dollar General store in Creve Coeur, Illinois. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Williams-Sonoma – Shares of the retailer jumped more than 20% after the company beat top and bottom line estimates during the fourth quarter. Williams-Sonoma earned $3.95 per share excluding items during
A logo of Ant Group is pictured at the headquarters of the company, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. Aly Song | Reuters BEIJING — Vanguard’s experiment with financial technology in China is showing early signs of success. In less than a year, more than 1 million users have
Big Tech’s troubles may be in their early innings. Rich Bernstein, an Institutional Investor Hall of Famer, warns that the tech-heavy Nasdaq faces “way more” than a 10% drop in a downturn that will likely last years. He blames a backdrop dominated by rising interest rates as a major catalyst. “Everybody seems to know when