NEW YORK—Oil prices bounced in a light-volume session on Thursday, on signs that the worst effects of the Omicron variant might be more containable than previously feared, even as countries imposed travel restrictions on surging infection levels. The oil market has wavered in recent days over how seriously to take the threat of another slump…
Oil Prices Extend Rise on Reduced Fears of Omicron-Induced Demand Slump
S&P 500 Hovers Near Record High as Omicron Worries Recede
Wall Street’s main indexes rose for a third straight session on Thursday after early data suggested the Omicron variant of the coronavirus was less severe than feared, lifting the mood ahead of Christmas break. The S&P 500 was within striking distance of its record high hit on Nov. 22, riding on broader gains, including in…
Futures Rise as Omicron Worries Ease
U.S. stock index futures ticked higher on Thursday, helped by early data suggesting the Omicron variant of the coronavirus was less severe than feared, while investors looked ahead to weekly jobless claims and monthly inflation numbers Two vaccine makers said their shots offered protection against Omicron, as UK data suggested it may cause proportionally fewer…
Bullish Investors Lift Risk-Sensitive Currencies as Omicron Fears Fade
LONDON—Bullish investors left the dollar near a one-week low and lifted riskier currencies such as the Australian dollar and British pound on Thursday, as fears about the fallout from Omicron were sidelined. The euro slipped by 0910 GMT but held above $1.13 while the dollar index, at 96.159, was unchanged on the day but near…
European Shares Hit Two-Week High as Omicron Fears Ebb
European shares hit a two-week high on Thursday as investor sentiment improved on signs the impact of the Omicron coronavirus variant may not be as severe as feared. The pan-European STOXX 600 gained 0.4 percent, boosted by travel stocks, tracking a global share rally that was also helped by robust U.S. economic data. The risk…
World Shares Extend Gains in Thin Pre-Christmas Trading
BANGKOK—World shares were higher Thursday after stocks advanced on Wall Street, lifted by encouraging reports about the potential impact of the omicron variant of coronavirus and stronger U.S. economic data. Major indexes are on track for a Christmas week gains, with trading thinning as the holidays approach. Many world markets will be closed Friday in…
Paychex Tops Q2 Consensus; Raises FY22 Outlook
Paychex Inc. reported second-quarter FY22 revenue growth of 13 percent year-on-year to $1.11 billion, beating the consensus of $1.06 billion. Total service revenue grew 13 percent Y/Y to $1.09 billion. Management Solutions revenue grew 14 percent Y/Y to $832 million. PEO and Insurance Solutions’ revenue rose 11 percent Y/Y to $262.4 million. The operating margin expanded…
Citi Bumps Up Apple Price Target By 18 percent; Remains Bullish
Citi analyst Jim Suva bumped up the price target on Apple Inc to $200 from $170 and reiterated a Buy. The new price target implies an upside of 15.6 percent. Suva notes that demand for Apple’s products and services should be “resilient” in FY22, following market share gains in 2021. Suva thinks Apple’s current market value fails to fully…
Tesla CEO Musk Says He Is ‘Almost Done’ With Stock Sales; Shares Rally
SAN FRANCISCO—Tesla Inc. Chief Executive Elon Musk said on Wednesday he was “almost done” with his stock sales after selling over $15 billion worth for more than one month. The billionaire had made confusing statements as to whether he might or might not be done with his stated goal of selling 10 percent of his…
Stocks Rise on Wall Street Ahead of Christmas Holiday
Stocks closed broadly higher on Wall Street Wednesday, adding to the market’s gains this week ahead of the Christmas holiday. The S&P 500 rose 1 percent after coming back from an early slide. The other indexes also recovered after sliding into the red in the early going. The Dow Jones Industrial Average rose 1.1 percent…
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