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12:12 p.m. April 13, 2021 - By Mark DeCambre
S&P 500 books record high and Nasdaq rallies 1.1% as stock market reacts to Johnson & Johnson pause, hot CPI report The S&P 500 finished at a record and technology shares closed in the green Tuesday as long-term government bond yields retreated despite data showing a surge in consumer prices in March. Investors were hit with early negative headlines after the Food and Drug Administration and the Centers for Disease Control and Prevention requested the immediate halt in the use of Johnson & Johnson's one-shot COVID vaccine out of "an abundance of caution" due to extremely rare blood-clotting issues in women. That report was followed by a highly anticipated reading of March that showed U.S. consumer prices rising on the month for the fourth month in a row, with the pace of inflation hitting the highest level in 21/2 years. The rate of inflation over the past year shot up to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018. The S&P 500 closed at a record at around 4,141, about 0.3% higher, while the Nasdaq Composite Index closed up 1.1% as technology shares scored a bounce off reteating bond yields. The 10-year Treasury note yielded 1.62% , with the decline following the CPI report, which some traders said wasn't as hot as expected, helping support some bids for long-dated bonds and relieving some of the pressure of higher borrowing costs on investments viewed as speculative like tech and tech-related shares. The Dow Jones Industrial Average , however, closed off 0.2% at aroound 33,677.
3:27 a.m. April 13, 2021 - By Mark DeCambre
Dow futures turn south Tuesday after FDA and CDC call for pause of Johnson & Johnson COVID vaccineFutures for the Dow Jones Industrial Average and the S&P 500 pivoted lower Tuesday morning after said that the U.S. will seek a pause of the Johnson & Johnson vaccine due to blood-clotting issues. "We are recommending a pause in the use of this vaccine out of an abundance of caution," the Food and Drug Administration, said jointly with the Centers for Disease Control and Prevention. The New York Times, citing officials briefed on the decision, said a rare clotting issue has cropped up in six women within about two weeks of vaccination. Futures for the Dow fell 127 points or 0.4% and those for the S&P 500 were trading 0.3% lower at 4,107. Shares of J&J were down 3% in pre-market action on Tuesday. The FDA and the CDC are requesting that the J&J vaccine not be used at federal sites and is urging states to also follow suit.
5:37 a.m. Feb. 24, 2021 - By Mark DeCambre
Dow, S&P 500 skid lower at Wednesday's open as 10-year Treasury jumps to 1.42% ahead of second day of Powell testimonyU.S. stock skidded lower at Wednesday's open as investors continued to react to a persistent rise in bond yields, with the 10-year Treasury note rising above 1.4% and putting pressure on equities, a day after Federal Reserve Chairman Jerome Powell attempted to soothe the market by emphasizing that easy-moeny policies would be in place for the foreseeable future. Powell is set to deliver a second day of testimony in front of the House starting at 10 a.m. Eastern. Bond yields began to perk up again on Wednesday after the Food and Drug Administration said that Johnson & Johnson's single-dose COVID-19 vaccine candidate has no unexpected safety concerns, in a step that moves the experimental vaccine one step closer to emergency authorization. The Dow Jones Industrial Average was off less than 0.1% and trading flat, the S&P 500 index was trading 0.1% lower at 3,876, while the Nasdaq Composite Index was declining 0.5%. The 10-year Treasury note hit a rate at around 1.42%. Stock markets have wavered in recent days following a strong start to the year, with highflying tech companies leading declines. Investors said a rise in government bond yields, driven by improving growth prospects and rising inflation expectations, has accelerated a rotation out of the tech stocks that led markets higher during the pandemic, and into the stocks best placed to benefit from an end to lockdowns.
5:36 a.m. Feb. 24, 2021 - By Mark DeCambre
Stock-index futures skid south Wednesday morning as 10-year Treasury breaches 1.4%U.S. stock-index futures turned south as bond yields Tuesday morning took a leg higher, weighing on interest-rate sensitive assets. The move for bond yields, with the 10-year Treasury note breaching a rate at 1.4%, came as investors appeared to digest a report from the Food and Drug Administration, which said that Johnson & Johnson's single-dose COVID-19 vaccine candidate has no unexpected safety concerns, in a step that moves the experimental vaccine one step closer to emergency authorization. Futures for the Dow Jones Industrial Average declined 0.3% to 31,422, the S&P 500 index futures fell 0.3% at 3,867, while Nasdaq-100 futures declined 0.8% to 13,085, with the technology-laden index the most sensitive to yield moves. On Tuesday, the Dow , the S&P 500 index and the Nasdaq Composite Index stagewd a dramatic turnaround on the heels of comments from Federal Reserve Chairman Jerome Powell, who said accommodative policy would be in place for the foreseeable future.
7:17 a.m. Jan. 2, 2021 - By Quentin Fottrell
My brother-in-law smokes weed, drinks booze and plays video games. My in-laws pay his mortgage. What happens after they’re gone? ‘Neither I nor my wife want him to be homeless, but I worry that I will be responsible for taking care of my brother-in-law’‘Neither I nor my wife want him to be homeless, but I worry that I will be responsible for taking care of my brother-in-law.’
12:11 p.m. Nov. 4, 2020 - By Mark DeCambre
S&P 500, Nasdaq book best postelection rally in history as Biden-Trump presidential contest remains undecidedThe S&P 500 and the Nasdaq on Wednesday produced the best postelection gain on record, as investors focus on the possibility that the race for the White House between President Donald Trump and former Vice President Joe Biden might yield a split government. Biden was seen edging Trump for the presidency after Tuesday's Election Day results, which were still being tallied but the expectations for a Democratic sweep appeared dashed, making it more likely that Republicans and Democrats would lock horns over the next four years--viewed as the type of political gridlock that is felicitous for financial markets. Crucial battleground states like Georgia, Michigan and Pennsylvania continued to be counted, with Biden holding a 248 electoral college lead, compared against Trump's 214. A total of 270 votes are required to determine a winner for the White House. Technology-related stocks led the way on Wednesday on the belief that a Biden victory and a split Congress would make the Democratic challenger's hope of raising taxes and enacting stricter regulation on tech companies less likely. The Nasdaq Composite Index gained 430 points, or 3.9%, to reach 11,591, the S&P 500 index climbed 74.45 points, or 2.2%, to 3,443, with both indexes registering their best returns in the trading day after an election on record, according to Dow Jones Market Data. Meanwhile, the Dow Jones Industrial Average finished up 1.3% higher at 27,848, but finished the session well off its best levels at 28,302, which would have resulted in the best day for the benchmark since 1900. In corporate news, shares of Biogen surged after the U.S. Food and Drug Administration offered a positive assessment of the company's experimental Alzheimer's disease drug. Meanwhile, health-care shares [s; XLV] gained 4.5% on the day, leading the S&P 500's 11 sectors, perhaps, on the belief that a Biden presidency would maintain Obamacare. The focus on politics comes also as the Federal Reserve commenced its two-day policy meeting which will conclude on Thursday and could signal that the central bank will reiterate its support for financial markets amid the economic uncertainty wrought by the pandemic.
10:45 a.m. Oct. 14, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 216,000 as Midwest and Mountain West cases start to stretch hospital capacity In the last seven days, 16 states have added more new cases than at any other time since the beginning of the pandemic The U.S. death toll from the coronavirus illness COVID-19 rose above 216,000 on Wednesday, driven by a spike in new cases in the Midwest and Mountain West that are starting to fill hospital beds and squeeze health-care systems.
9:56 a.m. Oct. 13, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 215,000 as Trump resumes campaign rallies even as doctors warn the test providing his negative results is not suited to that purpose ‘[Trump] should be adhering to guidelines, and they are trying to concoct a narrative to justify why he’s out there, and it’s wrong,’ says Dr. Vin GuptaThe U.S. death toll from the coronavirus-borne illness COVID-19 climbed above 215,000 on Tuesday, after President Donald Trump returned to the campaign trail with a rally in Florida late Monday, at which he again claimed to be “immune” to the virus.
11:21 a.m. Sept. 22, 2020 - By Tomi Kilgore
Coronavirus update: U.S. death toll passes 200,000, as new cases rose by more than 50,000 in a day President Trump contradicts facts and himself, saying in some states ‘nobody young’ affected by the coronavirus, and that it affects ‘virtually nobody’The number of deaths as a result of the coronavirus that causes COVID-19 surpassed 200,000 in the U.S., as the global total moved closer to 1 million, which prompted new shutdown measures in the U.K., even as President Donald Trump went against facts and his own previous statements by saying virtually nobody was affected.
12:42 p.m. Sept. 14, 2020 - By Joy Wiltermuth
Dow ends 327 points higher as stocks rebound amid vaccine hopes, IPO rush and corporate deal-making Snowflake to kick off year’s biggest week so far for IPOs U.S. stocks finished higher Monday amid a flurry of initial public offerings and potential corporate mash ups, including Oracle plans to forge a partnership with TikTok, the popular China-based social media platform.
12:49 p.m. Aug. 31, 2020 - By Joy Wiltermuth
Dow, S&P 500 end lower, but book best August in 36 years. Nasdaq clinches another record Amazon wins FAA approval for drone deliveryU.S. stocks closed mostly lower on Monday, except for the record-setting Nasdaq Composite, as Wall Street closed out a historically strong August.
12:44 p.m. Aug. 27, 2020 - By William Watts
Stocks pare gains but end mostly higher as Fed outlines policy shift U.S. weekly jobless benefit claims little changed at a million as expected Stocks ended a choppy session mostly higher Thursday, with the S&P 500 notching another record finish, after Federal Reserve Chairman Jerome Powell said policy makers would no longer preemptively hike interest rates to stave off inflation.
12:07 p.m. Aug. 27, 2020 - By Sunny Oh
S&P 500 closes at record as investors parse Fed's historic policy shiftU.S. stocks closed mostly higher on Thursday after the Federal Reserve said it would aim for an average inflation target of 2%, a move that affirmed its easy policy stance. The S&P 500 rose 0.2% to end around 3,485. The Nasdaq Composite fell 0.3% to finish around 11,625, but hit an intraday record earlier in the day. The Dow Jones Industrial Average advanced 160 points, or 0.6%, to end near 28,492, based on preliminary numbers. Thursday's trading was choppy as investors looked to understand the implications of the Fed's new policy. Shares of Abbott Laboratories rose more than 7% after the U.S. Food and Drug Administration granted emergency-use authorization for the company's coronavirus test.
7:42 a.m. Aug. 24, 2020 - By William Watts
COVID-19 vaccine hopes are driving the stock-market rally — here’s how much Vaccine news explains around 6.5 percentage points of S&P 500 returns since May: UBSThe stock market’s rally back to all-time highs might not have been possible without optimism over a COVID-19 vaccine. And that means progress and setbacks toward that goal could continue to drive the market in the weeks and months ahead.
5:35 a.m. Aug. 24, 2020 - By Mark DeCambre
Dow opens within 5% of record high and Nasdaq, S&P 500 carve out intraday peaks on coronavirus treatment candidatesU.S. equity benchmarks opened sharply higher early Monday, putting the Dow Jones Industrial Average within about 5% of its Feb. 12 all-time high as investors' optimism about a potential treatment for the coronavirus helped to extend a bullish rally. Over the weekend, the Food and Drug Administration authorized use of convalescent plasma, the antibody-rich blood component taken from recovered COVID-19 patients, for the treatment of serious coronavirus cases. Medical experts said the treatment may provide benefits to those battling the disease, but that there isn't conclusive evidence of its effectiveness, while questions remain about when it should be administered and dosage. However, the reports were enough to provide a lift the market that has rebounded from its coronavirus-induced bottoms in March. The Dow gained 28,139, up 0.7%, the S&P 500 index gained 3,424, rising 0.8%, while the Nasdaq Composite Index advanced 1.2% at 11,446. The S&P 500 and the Nasdaq hit intraday highs at Monday's open, while the Dow was about 4.7% from its Feb. 12 closing record at 29,551.42. In corporate news, Monday marked the day of record for Apple's planned 4-to-1 stock split. Shares of the iPhone maker will trade on a split-adjusted basis on Aug. 31 for holders as of the close of trade on Monday.
4:16 a.m. Aug. 15, 2020 - By Mark Hulbert
Here’s a pandemic stock tip: Buy on the rumor of a COVID-19 vaccine, sell on the news Wall Street’s ‘smart money’ heads for the exit when retail buyers rush the doorWall Street’s ‘smart money’ heads for the exit when retail buyers rush the door, writes Mark Hulbert.
1:49 p.m. Aug. 7, 2020 - By Joy Wiltermuth
Dow, S&P 500 finish higher even as pandemic aid talks break down in DC without a deal Dow books 3.8% weekly gain, its biggest in 2 monthsMajor U.S. stock indexes closed higher Friday, except for the Nasdaq Composite Index, despite Washington’s failure to produce a last-minute coronavirus aid package before Congress takes a summer recess, leaving America’s economic recovery hanging in the balance.
12:47 p.m. Aug. 4, 2020 - By Mark DeCambre
Nasdaq logs 30th record of 2020 and S&P 500 ends above 3,300 in choppy session, as large-cap tech stocks take a breather Disney earnings after the close of regular trade Tuesday are in focusU.S. stocks end a bumpy trading session on a high note Tuesday, with another record for the Nasdaq Composite, even as technology-related names took a backseat to outperformance in beaten-down sectors energy, real estate and consumer staples.
7:12 a.m. July 31, 2020 - By Barbara Kollmeyer
European stocks turn lower as investors juggle tech optimism and economic gloom Nokia climbs after results European stocks drop on the final trading day of the month, as economic worries overshadow upbeat earnings in the U.S. and Europe.
12:29 p.m. July 22, 2020 - By Joy Wiltermuth
Dow ends above 27,000 for first time in six weeks as defensive plays gain amid latest China-U.S. tussle Tesla and Microsoft headline Wednesday’s earnings calendar U.S. stocks finished higher Wednesday, ahead of corporate results from Tesla and Microsoft, but with buying seen in utilities, real-estate and other sectors viewed as defensive as Sino-American tensions rise.
12:37 p.m. July 13, 2020 - By Joy Wiltermuth
Nasdaq, S&P 500 end lower as coronavirus cases rise and tech stock fall, erasing rally sparked by renewed vaccine hopes California Gov. Newsom ordered bars, indoor dining and more to close again as state battles COVID-19 surgeStocks closed mostly lower Monday, with the Dow booking a modest gain, after technology stocks fell and rising coronavirus cases led California’s governor to order businesses across the state to shutter once again.
12:13 p.m. July 13, 2020 - By Mark DeCambre
Nasdaq tumbles 2.1% to mark biggest intraday reversal in 3 months as California orders rollback on eased coronavirus restrictionsU.S. stock indexes squandered a powerful, technology-led rally Monday, with gains collapsing as California signaled that it was re-imposing some restrictions on business reopenings as coronavirus cases rise in the Golden state. The Nasdaq Composite index swung from nearly a 2% gain early Monday to a decline of about 2.1% at about 10,390. The day's reversal represents that sharpest intraday turnaround since the Nasdaq was up 2.95% on April 7 to end down 0.3%, according to Dow Jones Market Data. Tech-related names like Tesla , whose shares were enjoying a 14% gain earlier in the session, closed off 3.1% on the session, after touching a record-setting market value of more than $320 billion. California also took a U-turn on Monday, with Gov. Gavin Newsom ordering , as well as restaurants offering indoor dining, movie theaters and wineries. Meanwhile, the Dow Jones Industrial Average closed with a meager gain of 0.1% at around 26,086, but had hit a intraday peak at 26,639, while the S&P 500 index finished down 1% after hitting an intraday peak at 3,235. Monday's opening gains had been powered by news on the health front. the Food and Drug Administration granting Pfizer Inc. and BioNTech SE , on two of their COVID-19 vaccine candidates, accelerated status.
11:12 a.m. July 6, 2020 - By Tomi Kilgore
Coronavirus update: U.S. cases reach 2.9 million and death toll tops 130K, as 38 states see cases on the climb Goldman cuts U.S. economic growth outlook, Regeneron initiates late-stage trial of COVID-19 antibody treatment, Churchill Downs re-suspends operations at Miami casinoNew coronavirus cases continue to surge Monday, with the U.S. re-emerging as a global hot spot, while Wall Street continues to defy the dangers after President Donald Trump over the weekend played down the threat of COVID-19.
6:07 a.m. June 30, 2020 - By Alessandra Malito
Social Security is under pressure, senior citizens are battling a health crisis — it’s not easy aging in America Social Security is more important than everSocial Security is more important than ever
12:35 p.m. June 25, 2020 - By Mark DeCambre
Dow logs a 300-point gain as banks rally ahead of stress-test results, but rise in coronavirus cases remains a worry Investors weight slight improvement in economic data and loosening of financial regulation against rising daily rate of coronavirus cases U.S. stocks closed solidly higher Thursday, recovering a chunk of Wednesday’s ugly loss, ahead of a key update of the banking sector from the Federal Reserve.
7:42 p.m. June 21, 2020 - By Marketwatch
Asian markets mixed as traders seek direction Nikkei, Hang Seng, Kospi little changedAsian markets were mixed in early trading Monday, after the World Health Organization reported a record single-day total of new coronavirus cases around the world.
8:11 a.m. June 20, 2020 - By Michael Brush
Here’s why the FDA may approve a Covid-19 vaccine before the November elections, according to Jefferies’ biotech-research team If true, any approval may not actually benefit a vaccine company, but instead other parts of the stock marketIf true, any approval may not actually benefit a vaccine company, but instead other parts of the stock market.
3:57 a.m. June 20, 2020 - By Mark DeCambre
Stock market gives up early gains to end lower as Apple plans to re-close stores and W.H.O. says coronavirus has entered ‘new and dangerous phase’ Dow industrials notch third straight decline as some U.S. sunbelt states see record coronavirus cases U.S. stock indexes gave up strong early gains to close mostly lower Friday, after the World Health Organization signaled that the coronavirus pandemic remains a deadly threat, and Apple said it will re-close some stores due to rising case counts in parts of America, casting doubt on the speed of economic recovery. All three equity benchmarks still made weekly gains though.
5:14 a.m. June 6, 2020 - By Tomi Kilgore
Coronavirus update: Case and death tolls keep rising, but shock increase in U.S. jobs suggesting the worst may be over, for now American Airlines stock extends rally as travel demand improves; Elon Musk calls for Amazon breakup after online retailer briefly rejects book questioning pandemic risksWhile the number of confirmed cases that causes COVID-19 and death tolls keep rising, a “shock” increase in jobs and drop in unemployment in the U.S. in May add to signs suggesting the worst of the pandemic is over as the easing of lockdown measures continues nationwide.
5:08 a.m. May 22, 2020 - By Elisabeth Buchwald
Workers have lost out on nearly $9,000 in income due to coronavirus lockdown (so far) In total, $1.3 trillion in income has been erased due to the pandemic, research published by the Society for Human Resource Management and Oxford Economics foundIn total, $1.3 trillion in income has been erased due to the pandemic, research published by the Society for Human Resource Management and Oxford Economics found.
12:46 p.m. May 18, 2020 - By Mark DeCambre
Dow rises more than 900 points, books its biggest daily advance in 6 weeks on coronavirus vaccine hope Fed’s Powell says don’t ‘bet against American economy’ — even as unemployment could rise to 25%U.S. stocks finished sharply higher Monday on optimism that the American economy might be percolating again, while the medical community works toward a potential Covid-19 vaccine.
12:41 p.m. May 15, 2020 - By Michael Brush
People can’t wait to go golfing, boating and camping — and these ‘great outdoors’ stocks may be the beneficiaries The Covid-19 lockdown has kept consumers inside for weeks. ‘People are more likely to do these things than get on an airplane and fly to Europe for their summer vacation,’ says money manager Eric Marshall at Hodges Capital Management.The Covid-19 lockdown has kept consumers inside for weeks. ‘People are more likely to do these things than get on an airplane and fly to Europe for their summer vacation,’ says money manager Eric Marshall at Hodges Capital Management.
11:40 a.m. May 11, 2020 - By Michael Brush
Biotechnology experts who understand both science and investing are skeptical of the stock market’s strength The pandemic’s damage to the economy, and investing markets, may be long-lasting and worse than expected, they sayThe pandemic’s damage to the economy, and investing markets, may be long-lasting and worse than expected, they say.
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