Wire stories category, Page 73
Stock indexes mixed as tech rebound fades; Peloton sinks
Major U.S. stock indexes closed mixed Wednesday after an early technology company rebound faded, tempering the market’s recovery from a sell-off a day earlier. The S&P 500 eked out a 0.1% gain after having been up 0.7% in the early going. The Dow Jones Industrial Average managed a 0.3% gain,...
Janet Yellen clarifies she is not predicting Fed rate increasesVideo
WASHINGTON — Treasury Secretary Janet Yellen said Tuesday that she is not predicting when the Federal Reserve may need to start raising interest rates. She was seeking to clarify her earlier remarks that rattled financial markets. Yellen suggested early Tuesday that interest rates may need to rise slightly to keep...
Technology shares sink broader market although Dow has gain
Technology companies dragged indexes lower Tuesday on Wall Street, pulling the market further from its recent all-time highs. The S&P 500 fell 0.7%, erasing its gains from last week. Big technology companies like Apple and Microsoft fell as the sector declined for the sixth straight day. Losses in communications stocks...
Verizon sells internet trailblazers Yahoo and AOL for $5BVideo
AOL and Yahoo are being sold again, this time to a private equity firm. Wireless company Verizon will sell Verizon Media, which consists of the once-pioneering tech platforms, to Apollo Global Management in a $5 billion deal. Verizon said Monday that it will keep a 10% stake in the new...
Wall Street logs gains Monday on strong earnings
Health care and energy companies helped push stocks higher Monday, as Wall Street kicked off the first trading day in May with more gains after a four-month winning streak. The S&P 500 rose 0.3%. Industrial and financial stocks also helped lift the market. Falling technology and communication stocks, and companies...
Apple’s app store goes on trial in threat to ‘walled garden’
SAN RAMON, Calif. — On Monday, Apple faces one of its most serious legal threats in recent years: A trial that threatens to upend its iron control over its app store, which brings in billions of dollars each year while feeding more than 1.6 billion iPhones, iPads, and other devices....
Stocks move lower, still head for 3rd straight monthly gain
Stocks fell broadly in afternoon trading as investors backed away from technology and communications companies. Despite the decline, the market is on pace for its best month so far this year, as investors remain optimistic that the pandemic is slowly and steadily coming to a close. The S&P 500 was...
Stocks end higher, pushing S&P 500 to another record high
Stocks overcame a midday stumble on Wall Street to close broadly higher Thursday, driving the S&P 500 to another record high. The benchmark index rose 0.7% after having been down 0.2% earlier. Communications companied helped power a big part of the gain, led by a sharp rise in Facebook following...
Economy in first quarter grows at 6.4% annualized rate as effects of covid waneVideo
WASHINGTON — Just a year after a new coronavirus blew a crater-size hole in the U.S. economy, the recovery gained momentum in the first quarter as growth surged at a strong 6.4% annual rate, government data released Thursday show. Economists and government policymakers believe there’s more good news to come....
FAA aims to fine disruptive air passengers up to $31,750
WASHINGTON — The Federal Aviation Administration said Tuesday that it is seeking fines of up to $31,750 for three more passengers who allegedly disrupted flights by disobeying or interfering with flight attendants. They mark the latest in a series of civil penalties sought by FAA since the agency announced a...
Stocks end a wobbly day mixed, S&P 500 still near record
Stock indexes closed out a wobbly day of trading on Wall Street with a mixed finish Tuesday, leaving the S&P 500 index just below its all-time high. The benchmark index slipped less than 0.1% after wavering between small gains and losses for much of the day. Losses in technology, health...
Orders for big-ticket manufactured goods rebound in March
WASHINGTON — Orders for big-ticket manufactured goods rebounded 0.5% in March as U.S. factories recovered from February weather disruptions. However, the recovery was not as strong as most had expected due to ongoing supply chain disruptions that continue to ensnare U.S. manufacturers. It was the tenth time in the past...
Stocks reach more records as earnings kick into high gear
Technology companies helped lift stocks modestly higher Monday on Wall Street, nudging the S&P 500 and Nasdaq indexes to all-time highs. The S&P 500 rose 0.2%, with only slightly more than half the companies in the index notching gains. Banks and companies that rely on consumer spending were among the...
Stocks rise, erasing most of S&P 500’s weekly losses
Stocks closed out a choppy week of trading with a broad rally, though the gains were not enough to keep the S&P 500 from its first weekly loss in the last five. The benchmark index rose 1.1% Friday, clawing back all of its losses from a day earlier. It posted...
Screws tighten for home buyers in March, prices surge 17.2%
Sales of previously occupied U.S. homes fell for the second consecutive month in March because there are so few on the market, and the fierce competition for those that do exist is pushing prices to new highs. Existing home sales fell 3.7% last month from February to a seasonally-adjusted rate...
Stocks end lower after report on Biden’s tax proposal
A report that President Biden will propose a hefty tax increase on the gains wealthy individuals reap from investments triggered a stock market sell-off Thursday afternoon that left indexes broadly lower. Investors who earn $1 million or more would have to pay a 39.6% tax rate on any capital gains,...
Stocks end higher on Wall Street after a day of steady gains
Technology companies and banks helped lift stocks on Wall Street broadly higher Wednesday, enabling the market to claw back some of its losses after a downbeat start to the week. The S&P 500 rose 0.9%, snapping a two-day slide. Most of the companies in the benchmark index rose, with technology,...
Foxconn deal with Wisconsin lowers tax breaks to $80 million
MADISON, Wis. — Foxconn Technology Group will be eligible for just $80 million in taxpayer subsidies under a new contract signed Tuesday, down from nearly $3 billion it could have received under the original deal that envisioned a much larger project in southeastern Wisconsin. Democratic Gov. Tony Evers, who ran...
Apple to host virtual iPad event, may hint at new AirPods
Many of us may be suffering from virtual event fatigue after a year of video calls. But not Apple, which plans new product announcements at what seems likely to be an iPhone-less online event on Tuesday. It’s the first such event for the company in 2021. Analysts expect new iPads...
Miners’ union backs shift from coal in exchange for jobsVideo
WASHINGTON — The nation’s largest coal miners’ union said Monday it would accept President Joe Biden’s plan to move away from coal and other fossil fuels in exchange for a “true energy transition” that includes thousands of jobs in renewable energy and spending on technology to make coal cleaner. Cecil...
Stocks close lower, pulling indexes below record highs
Technology companies helped drag stocks broadly lower Monday, pulling the indexes below the record highs they reached last week. The S&P 500 dropped 0.5%, shedding more than a third of its gain from last week. Tech stocks were the biggest weight on the market, but the losses were shared broadly...
Mercedes rolls out luxury electric car in duel with Tesla
FRANKFURT, Germany — Daimler AG on Thursday unveiled a battery-powered counterpart to its top Mercedes-Benz luxury sedan as German carmakers ramp up their challenge to electric upstart Tesla. The EQS is the first Mercedes-Benz vehicle to be built on a framework designed from the start as an electric car, rather...
Dow crests 34,000 on more proof that economy is recovering
NEW YORK — Wall Street notched more milestones Thursday, as a broad market rally pushed the S&P 500 to an all-time high and the Dow Jones Industrial Average crossed above the 34,000 mark for the first time. The S&P 500 rose 1.1%, with technology, health care and communication stocks accounting...
Most stocks rise, indexes end mixed as earnings kick off
NEW YORK — Most stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what’s expected to be a thunderous earnings reporting season. The S&P 500 fell 16.93 points, or 0.4%, to 4,124.66, a day after returning to an all-time...
Coinbase is here: A digital currency exchange goes public
Wall Street is still waiting on the first trade for Coinbase, as the digital currency exchange makes its highly-anticipated debut on the stock market. Coinbase Global Inc. is making its initial public offering of stock Wednesday with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. Digital currencies are...
