ADVFN US – Market Content Editor
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Oil Prices Edge Lower, Extending Losses as Oversupply Fears Persist
Oil prices moved slightly lower on Monday, building on the steep declines seen last week as worries about excess global supply and a soft demand outlook continued to weigh on the market. By 06:05 ET (11:05 GMT), Brent crude futures for February delivery were down 0.2% at $61.02 a barrel, while U.S. West Texas Intermediate…
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Gold Holds Near Two-Month Peak as Weaker Dollar Lifts Prices; U.S. Data in Focus
Gold prices climbed again on Monday, marking a fifth consecutive session of gains and hovering near a two-month high, as a softer U.S. dollar supported precious metals following more accommodative signals from the Federal Reserve. By 08:10 ET (13:10 GMT), spot gold was up 0.8% at $4,338.56 per ounce, while March gold futures advanced 1%…
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Western Digital Shares Climb After Nasdaq-100 Addition
Western Digital Corp. (NASDAQ:WDC) shares rose 1.7% on Monday after the company was named as one of the new constituents of the Nasdaq-100 Index following its annual rebalancing. The data storage group is among six companies added to the widely followed benchmark, which measures the performance of the 100 largest non-financial stocks listed on the…
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U.S. Regional Manufacturing Activity Slumps Unexpectedly in December
Manufacturing conditions in the U.S. Northeast deteriorated sharply in December, according to data published Monday by the Federal Reserve Bank of New York, catching economists off guard. The New York Fed’s general business conditions index fell into negative territory, dropping to -3.9 in December from 18.7 in November. A reading below zero signals contraction in…
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Dow Jones, S&P, Nasdaq, Wall Street, U.S. Futures Signal Early Bounce After Friday’s Sell-Off
Futures linked to the main U.S. equity benchmarks were pointing higher ahead of Monday’s opening bell, suggesting Wall Street may attempt an initial rebound after the sharp losses recorded at the end of last week. Some investors appear ready to step back into the market following Friday’s pullback, which was driven largely by heavy selling…
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Intel Shares Edge Higher on Tech Rally and Reported SambaNova Talks
Intel (NASDAQ:INTC) shares gained about 1.25% on Monday, supported by broader strength across technology stocks and reports that the chipmaker is in late-stage discussions to acquire artificial intelligence startup SambaNova Systems for roughly $1.6 billion. Bloomberg reported on Friday that Intel is engaged in advanced negotiations to buy the Palo Alto, California-based company, with a…
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Alphabet Is Best Placed for the Next Stage of AI, Bank of America Says
Alphabet (NASDAQ:GOOG) is the stock most favorably positioned for the next phase of artificial intelligence, according to Bank of America, as investor attention shifts away from sheer capital spending and toward monetization, returns and sustainable competitive advantages. In a broad assessment of AI investment and revenue potential among hyperscalers, BofA analysts said expectations around AI…
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Greenwich LifeSciences Shares Jump on Early Breast Cancer Trial Readout
Shares of Greenwich LifeSciences (NASDAQ:GLSI) soared about 37% after the clinical-stage biotech released early data from its FLAMINGO-01 study indicating a sharp drop in breast cancer recurrence rates. The company said preliminary analysis from the open-label, non-HLA-A02 arm of the trial — which includes 250 patients — showed an estimated reduction in recurrence of roughly…
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Zillow Shares Slide After Google Trials New Property Advertising Tool
Zillow Group Inc. (NASDAQ:ZG) shares dropped more than 5.5% on Monday after reports that Google is piloting a new real estate advertising format that could eventually encroach on Zillow’s core business. Google has begun testing a mobile-focused property ad experience that places detailed real estate listings directly within search results. The format includes property information,…
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Adaptive Biotechnologies Enters Two TCR Licensing Agreements With Pfizer
Adaptive Biotechnologies Corporation (NASDAQ:ADPT) has entered into two separate agreements with Pfizer Inc. (NYSE:PFE) that will see the companies collaborate on T-cell receptor (TCR) research to support drug discovery and development. The first deal focuses on rheumatoid arthritis, with Adaptive deploying its immune medicine platform to identify T-cell receptors linked to disease activity. Using Pfizer’s…