Wall Street’s main indexes opened higher on Monday after declining sharply last week on Omicron and taper fears, with investors favoring banks, energy, and economy-linked stocks against technology and growth-heavy shares. The Dow Jones Industrial Average rose 53.35 points, or 0.15 percent, at the open to 34,633.43. The S&P 500 opened higher by 9.94 points,…
Wall Street Opens Higher on Banks, Energy Boost
December 6, 2021
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World Shares Mixed Amid Troubles for Chinese Property Sector
December 6, 2021
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BANGKOK—European shares and U.S. futures rose Monday after a lackluster day in Asia, where shares fell in Hong Kong and Shanghai after troubled Chinese property developer Evergrande warned it may run out of money. Moving to reassure investors and keep growth from stalling, China’s central bank cut the amount of funds banks are required to…
Elon Musk’s Wealth Declines by $15B as Tech Stocks Plunge
December 5, 2021
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The stock market saw an overall plunge on Friday after a discouraging November jobs report coupled with COVID-19 Omicron variant concerns. Technology stocks were among the most notable losers on Friday as Tesla Inc. fell 6.4 percent. With that, Tesla CEO Elon Musk’s net worth fell by $15.2 billion. That leaves Musk’s fortune at $268.9…
US Dollar Net Longs Jump to Highest Since Mid-June 2019: CFTC
December 4, 2021
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NEW YORK—Speculators’ net long positioning on the U.S. dollar in the latest week soared to its highest level since mid-June 2019, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $23.99 billion for the week ended Nov. 30, up from…
Stocks, Yields Slide After US Jobs Report as Omicron Looms
December 4, 2021
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NEW YORK—Global equities and benchmark U.S. bond yields tumbled on Friday in volatile trade after data showed U.S. job growth slowed considerably in November and the Omicron variant of the coronavirus kept investors on edge. Nonfarm payrolls increased by 210,000 jobs, the fewest since last December, but the unemployment rate plunged to a 21-month low…
Apple Loses Another Key Car Engineer
Electric air taxi start-up Archer Aviation Inc. roped in Apple Special Projects Group engineering director Michael Schwekutsch as its SVP engineering, CNBC reported on Wednesday. Schwekutsch will lead the Archer’s battery and electric motor development efforts. Former Apple’s VP of special projects, Doug Field, left in September to lead Ford Motor’s (F) emerging technology efforts….
Stocks Stumble, Yields Choppy After US Jobs Report as Omicron Looms
December 3, 2021
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NEW YORK/LONDON—Global stock markets faltered on Friday, while benchmark bond yields gave up earlier gains after data showed U.S. job growth slowed considerably in November and markets stayed volatile as investors assess implications from the new Omicron coronavirus variant. After opening higher, Wall Street’s main indexes quickly turned negative in morning trading. European markets also…
Narrowing Equity Market Breadth May Signal a ‘Market Top’: BofA
December 3, 2021
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LONDON—Narrowing equity market breadth, rising volatility, and the prospects of rate hikes are the classic signs of a market top, BofA said in a weekly report on Thursday. Just five of the biggest U.S. technology stocks accounted for 71 percent of the nearly 20 percent gains in U.S stocks, BofA analysts noted of the performance…
World Shares Mostly Higher After Broad Rally on Wall Street
December 3, 2021
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BANGKOK—Stocks were mostly higher in Europe and Asia after a broad rally on Wall Street as investors awaited U.S. employment and other data due out Friday. Concerns over the spread of the new coronavirus variant and measures governments are taking to restrain it remained, but appeared to have been assuaged by reports that its symptoms…
Why Apple Is on Track to $3 Trillion Market Cap in 2022: A ‘Safety Blanket’ Tech Stalwart During Market Storm
Apple Inc. stock has been on a strong run in recent sessions, and an analyst at Wedbush is of the view there is further upside. Apple Analyst Daniel Ives maintained an Outperform rating on Apple and increased the price target from $185 to $200, suggesting more than 20 percent upside from current levels. Apple Thesis…
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