U.S. stock benchmarks carved out another round of records on Friday, with a big assist from rallying telecommunication and bank shares, as Wall Street shook off North Korea’s latest missile launch. The Dow Jones Industrial Average rose 64.86 points, to 0.3%, to close at 22,268.34, logging its fourth straight record close and its sixth consecutive […]
Category: Market
EquiFax Says 143 Million Consumers Had Their Personal Info Stolen By Hackers
Equifax Inc, a provider of consumer credit scores, said on Thursday a hack exposed the personal details of potentially 143 million U.S. consumers between mid-May and July. The company’s shares were down 5.4 percent in after-market trading The company said criminals had accessed details including names, social security numbers, and, in some cases, driver’s license […]
American Job Growth Slows In August With 156,000 New Jobs
U.S. hiring took a breather in August, as job gains of 156,000 fell short of expectations and wage growth continued to disappoint. The labor market had appeared to pick up the pace with back-to-back months of more than 200,000 new jobs. Employers slowed down in August, pushing the unemployment rate to 4.4% from 4.3%. Economists […]
Stock Market Cheers As Bannon Is Fired
U.S. stock markets rallied and traders cheered Friday afternoon as the news of Stephen Bannon’s departure from the White House was learned. CNBC aired a clip of a reporter and anchor discussing the news, where the cheers could be heard in the background. After a morning of drooping stock prices, the Dow Jones rose 27 points in […]
CEO Exodus Leads Trump To Disband Business Councils
President Trump has said he is scrapping two business councils after more bosses quit over his handling of violent clashes in Virginia. Business leaders left the White House manufacturing council after the backlash against how he reacted to the far-right rally last weekend. The clashes culminated in a woman’s death and nearly 20 wounded when […]
Costco Pays $19 Million For Selling Fake Tiffany Rings
A federal judge on Monday said Tiffany & Co (TIF) may recover at least $19.4 million in damages from Costco Wholesale Corp (COST) over the warehouse club chain’s illegal sale of counterfeit diamond engagement rings bearing the “Tiffany” name. U.S. District Judge Laura Taylor Swain said Tiffany deserves $11.1 million, plus interest, representing triple the lost profit […]
Dow Loses Over 200 Points Amid Mounting Tensions With North Korea
Wall Street got bathed in a sea of red Thursday amid mounting tensions between the US and North Korea. The Dow Jones industrial average lost 204 points, marking three consecutive day of losses. The index — which last week hit 22,000 for the first time — closed at 21,844. Markets began to tumble Tuesday after […]
209,000 Jobs Added In Month Of July, Well Above Projections
The U.S. economy continued a strong summer, adding 209,000 jobs in July while the unemployment rate fell to 4.3 percent, the lowest since March 2001, according to a government report Friday. Economists surveyed by Reuters had expected the report to show growth of 183,000; the unemployment rate met expectations. A more encompassing rate that includes […]
Dow Jones Hits 22,000 As Stock Market Breaks New Records Again
The stock market shattered yet another milestone Wednesday, with the Dow Jones Industrial Average reaching 22,000 points for the first time. The 131-year-old index received a 50-point boost from Apple, whose shares saw a 6 percent hike after Tuesday’s strong earnings report. “Stock Market could hit all-time high (again) 22,000 today,” President Donald Trump had […]
The US Dollar Continues To Plummet Amid White House Turmoil
NEW YORK (Reuters) – The dollar hit its lowest against the euro and Swiss franc in more than a year on Tuesday, with the broader dollar index touching a more than 10-month low, on reduced confidence in U.S. President Donald Trump’s agenda and jitters over hawkish central banks abroad. Republican senators’ effort to pass their […]
Trump Brags Stocket Market Keeps Rising Despite “Russian Hoax Story”
President Trump sought to downplay recent revelations surrounding the Russia probe on Saturday, saying the stock market was rising despite the “hoax story.” “Stock Market hit another all-time high yesterday – despite the Russian hoax story! Also, jobs numbers are starting to look very good!” the president tweeted. “Stock Market at new all-time high! Working […]
Yellen Says Rate Hikes Will Slow As Inflation Stays Low
The Federal Reserve could scale back on its expected pace of interest rate hikes if inflation continues to be soft, Chair Janet Yellen told Congress. Under questioning over why the central bank remains committed to normalizing policy even as price and wage pressures remain muted, Yellen said the Fed is aware of the softness in […]