Dow Closes Above 45,000 for First Time; S&P 500, Nasdaq Reach Fresh Records
The Dow Jones Industrial Average closed above 45,000 for the first time Wednesday, while the S&P 500
Five Below Tops Third-Quarter Views, Names CEO; Stock Jumps After Hours
Five Below (FIVE) late Wednesday reported a surprise increase in fiscal third-quarter earnings as re
Marvell Technology Stock Jumps on Optimism Driven by ‘Custom AI’
Marvell Technology shares led Nasdaq 100 stocks higher in the wake of strong fiscal third-quarter results released after the bell Tuesday.
Oil slips ahead of OPEC+ decision on production cuts
NEW YORK (Reuters) -Oil futures fell nearly 2% on Wednesday as investors awaited an imminent OPEC+ decision on production cuts, while a larger-than-expected draw in U.S. crude stockpiles last week lent some support to prices. U.S. West Texas Intermediate crude futures fell $1.40, or 2%, to $68.54. The market was on tenterhooks, with investors focused on the upcoming OPEC+ meeting, analysts said.
S&P 500 Gains and Losses Today: Salesforce Stock Pops as AI Offering Impresses
The S&P 500 added 0.6% on Wednesday, with tech stocks leading the way higher as investors parsed comments from Fed Chair Jerome Powell.
Fed’s Powell Expects Good Relations With Trump Administration
(Bloomberg) -- Federal Reserve Chair Jerome Powell downplayed the prospects of tension with the incoming Trump administration and said he expects officials can move cautiously as they continue lowering interest rates.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“We can afford to be a little more cautious as we try to find neutral,” Powell said in reference to the level for rates that neither sp
Fontainebleau Miami Beach to Borrow $975 Million in Bond Market
(Bloomberg) -- Fontainebleau Miami Beach, a luxury hotel founded in the 1950s, plans to sell a $975 million commercial mortgage-backed security to refinance its debt. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIt seeks to raise around $1.2 billion in debt financing, including the CMBS and a mezzanine loan of as much as $225 million, according to deal documents.Jeffrey Soffer, the indirect maj
Energy CEO Who Drank Fracking Fluid Is Now Trump’s Oil Evangelist
(Bloomberg) -- Standing shoulder to shoulder with his employees, Chris Wright, chief executive officer of oilfield services company Liberty Energy Inc., held up his glass in a toast.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic Jams“To your health and the longer lives and healthier lives of billions of people around the world from oil and gas,” Wright said. Then he gulped down a shot of fracking flu
Oil Slides With Traders Focused on Demand Ahead of OPEC+ Meeting
(Bloomberg) -- Oil fell 2% to settle below $69 a barrel as tepid US economic data undercut OPEC+’s progress on a deal to keep output constrained. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe decline comes after crude futures tested their 50-day moving average, a key level that had spurred some technical buying. But slowing US services activity growth and swelling fuel stockpiles — both sign
Powell says Fed can afford to be a little more cautious
NEW YORK (Reuters) -U.S. Federal Reserve Chair Jerome Powell on Wednesday said the economy is stronger now than the central bank had expected in September when it began reducing interest rates, and appeared to signal his support for a slower pace of interest-rate cuts ahead. “The U.S. economy is in very good shape and there’s no reason for that not to continue ...the downside risks appear to be less in the labor market, growth is definitely stronger than we thought, and inflation has come in a little higher," Powell said at a New York Times event. His remarks during a wide-ranging half-hour interview that touched only lightly on monetary policy and the economy are likely his last before the Dec. 17-18 policy meeting, as the quiet period when Fed officials refrain from speaking about monetary policy ahead of a meeting starts on Saturday.