Tesla Inc. shares fell 7.5 percent in premarket trading on Monday as investors prepared for its chief Elon Musk’s proposed sale of about a tenth of his holdings in the electric-car maker following his Twitter poll. Musk, Tesla’s chief executive officer and the world’s richest person, tweeted on Saturday that he would offload 10 percent…
Tesla Shares Fall After Twitter Users Vote for Musk to Sell Stock
November 8, 2021
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Hiring Difficulties May Be on Horizon as US Labor Force Participation Rate Remains Unchanged
November 8, 2021
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Hiring difficulties may be on the horizon for U.S. firms amid a weak labor supply, according to the Bureau of Labor Statistics’s latest jobs report. The bureau’s October jobs report, released Nov. 5 showed employers added over half a million jobs in October, beating market expectations and painting a more positive picture of labor market recovery compared to…
Oil Gains After US Infrastructure Bill Passes, Chinese Exports Rise
November 8, 2021
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LONDON—Oil prices rose on Monday as positive signs for global economic growth supported the outlook for energy demand, while Saudi Arabia’s state-owned producer Aramco raised the official selling price for its crude. Brent crude was up by 91 cents, or 1.1 percent, at $83.65 a barrel at 1028 GMT, after dropping nearly 2 percent last…
Asian Markets Lower After Wall Street Record, China Trade Growth
November 8, 2021
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BEIJING—Global stock markets and Wall Street futures declined Monday after stronger U.S. hiring and a double-digit rise in Chinese exports. London and Frankfurt opened lower. Tokyo, Hong Kong, and Sydney declined while Shanghai advanced. U.S. employers hired more people than expected in October, according to government data released on Friday. China’s October exports rose 27.1…
Stock Wars: Starbucks vs. Coffee Holding Co.
Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between a pair of coffee-focused companies: Starbucks Corporation and Coffee Holding Co., Inc.. The Case For Starbucks This year marks Starbucks’ 50th anniversary in business. It…
How Tuesday’s Election Results Could Impact the Stock Market Heading Into 2022
With midterm elections one year away, a handful of off-year elections this week provided investors with a potential glimpse at where America could be headed in November 2022. What Happened On Tuesday, Glenn Youngkin became the first Republican elected governor of Virginia in 12 years. Youngkin’s victory was particularly surprising given President Joe Biden won…
China’s Crude Oil Imports in October Fall to Lowest in 3 Years
BEIJING—China’s crude oil imports plunged in October to the lowest since September 2018, as large state-owned refiners withheld purchases because of rising prices while independent refiners were restrained by limited quotas to import. The world’s biggest crude oil importer brought in 37.8 million tons last month, data from the General Administration of Customs showed on…
Kroger Looking Into Fake Press Release Touting Acceptance of Bitcoin Cash
November 6, 2021
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Kroger Co. is looking into the publication of a fake press release, claiming the acceptance of bitcoin cash at its stores, the grocer said on Friday, after becoming the second major retailer in recent weeks to get entangled in a crypto hoax. The release, which said the grocer would accept the cryptocurrency this holiday season,…
Haiti’s Fuel Crisis Deepens; Banks Announce Partial Closure
PORT-AU-PRINCE, Haiti—Haiti’s fuel crisis is deepening, with the country’s Professional Association of Banks announcing Friday that a shortage of petroleum is forcing institutions to cut their hours and days as dozens of gas stations across the capital remained closed. Starting next week, banks will operate only three days a week instead of the usual six…
US Economy Adds 531,000 Jobs in October: Experts React to Booming Payroll Growth
The SPDR S&P 500 ETF Trust traded slightly higher Friday morning after the Labor Department reported a strong rebound in the U.S. jobs market in October. The United States added 531,000 jobs in October, exceeding consensus economist estimates of 450,000 jobs. The U.S. unemployment rate fell to 4.6 percent from 4.8 percent, beating economist estimates…
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