Category: Latest News
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Disappointing Consumer Sentiment Data Contributes To Sell-Off On Wall Street
Stocks moved sharply lower over the course of the trading day on Friday, extending the pullback seen during Thursday’s session. The major averages all showed significant moves to the downside, with the Dow tumbling to its lowest closing level in a month. The major averages moved roughly sideways going into the close, lingering near their…
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January Existing Home Sales Report, Consumer Sentiment Data, and Fed Speeches Expected Today
The National Association of Realtors is scheduled to release its report on existing home sales in the month of January at 10 am ET. Existing home sales are expected to tumble by 2.8 percent to an annual rate of 4.12 million in January after jumping by 2.2 percent to an annual rate of 4.24 million…
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Futures Pointing To Roughly Flat Open On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Friday, with stocks likely to show a lack of direction following the weakness seen in the previous session. Uncertainty about the outlook for the markets may keep some traders on the sidelines following yesterday’s weakness, which saw the S&P 500 pull…
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U.S. Stocks Climb Off Early Lows But Remain Firmly Negative
After moving sharply lower early in the session, stocks regained some ground over the course of the trading day on Thursday. The major averages climbed well off their early lows but remained firmly in negative territory. The S&P 500 (SPI:SP500) fell as much as 1.0 percent in early trading but ended the day more moderately…
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First-Time U.S. Unemployment Benefit Claims Up Slightly
A report released by the Labor Department showed a modest increase by first-time claims for U.S. unemployment benefits in the week ended February 15th. The Labor Department said initial jobless claims rose to 219,000, an increase of 5,000 from the previous week’s revised level of 214,000. Economists had expected jobless claims to inch up to…
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Slump By Walmart May Weigh On Wall Street In Early Trading
The major U.S. index futures are currently pointing to a lower open on Thursday, with stocks likely to move to the downside after moving modestly higher over the two previous sessions. A slump by shares of Walmart (NYSE:WMT) is likely to weigh on Wall Street, as the retail giant is tumbling by 6.6 percent in…
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Gold Prices Hit Record High, Buoyed By Haven Demand On Trump Tariffs
Gold prices briefly hit a record high in Asian trade on Thursday, as threats of more trade tariffs from U.S. President Trump ignited demand for a safe haven. Spot gold rose 0.3% to $2,940.96 an ounce, briefly hitting a record high of $2,947.23 an ounce earlier in the session. Gold futures expiring in April rose…
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S&P 500 Reaches New Record Closing High After Early Pullback
Stocks moved modestly lower early in the session on Wednesday but regained ground over the course of the trading day. The major averages climbed well off their early lows and into positive territory, with the S&P 500 once again reaching a new record closing high. The major averages ended the day modestly higher. The S&P…
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U.S. Court Seizes More Than $1 Billion In Assets From Sam Bankman-Fried
The U.S. District Court for the Southern District of New York has issued a final order of forfeiture, stripping the former CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, of a vast array of assets following his conviction for fraud. FTX collapsed in early November 2022 after concerns about its relationship with affiliated trading firm, Alameda…
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EV Maker Nikola Bankrupt, Plans To Sell Assets
Electric vehicle manufacturer Nikola (NASDAQ:NKLA) has announced it has filed for Chapter 11 bankruptcy protection and plans a sale of its assets. This is the latest electric-vehicle company to run into trouble because of lukewarm demand, rapid cash burn and funding challenges. In recent years several EV makes that went public during the pandemic have…