Tag: floor
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Wall Street slips after soft GDP data, earnings
U.S. stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes.
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Wall Street slips; indexes still near record highs
The Nasdaq hit a record high earlier in the session, helped by a rise in Microsoft and other big tech stocks. U.S. stocks had been on a tear since Donald Trump's surprise victory in the presidential election last week as his proposals to increase infrastructure spending and reduce taxes are seen benefiting the economy. The…
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Weak utilities demand restrains U.S. industrial production
U.S. industrial production barely rose in September as a rebound in manufacturing and mining output was offset by surprisingly weak demand for utilities, pointing to a moderate acceleration in economic growth in the third quarter. Gains in output are likely to be muted as the sector remains constrained by the lingering effects of the dollar's…
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Wall Street sells off on weak earnings, election fears
Illumina shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Although overall S&P 500 earnings are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected reports would result in a positive quarter.…
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Wells Fargo faces proposed class action over bogus accounts
Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior. The lawsuit was filed in the U.S. District Court in Utah, and seeks class-action status on behalf of hundreds of thousands of customers nationwide.
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Weak U.S. retail sales, inflation data dim prospect of Fed rate hike
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not…
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Wall Street Week Ahead: Again at highs, stocks to take cues from consumer
Quarterly earnings reports from department store operators including Macy's , luxury goods companies such as Michael Kors and entertainment company Disney will set the tone for Wall Street, with investors also eyeing U.S. retail sales data due on Friday. “The consumer, in our mind, is a lever that could cause equities to trend higher,” said…
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Worst day in 10 months as Wall Street reacts to ‘Brexit’
The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months after Britain's decision to leave the European Union caught traders wrong-footed. In the busiest trading volume for a single session in nearly five years, financial stocks led the decline on the S&P 500 with a…
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Wall Street puts finishing touch on best week since March
(Reuters) – Wall Street rose on Friday and capped off its strongest week since March after U.S. Federal Reserve Chair Janet Yellen said an interest-rate hike would likely be appropriate “in the coming months.”