S&P 500 closes at another record Friday, gains 2% on week
Stocks rose on Friday as traders wrapped up a strong week amid decreasing political uncertainty and positive vaccine news. The S&P 500 gained 0.3% to end the day at 3,638.35, notching a record closing high. The Nasdaq Composite advanced 0.9%...
Stocks making the biggest moves midday: Amazon, Tesla, AstraZeneca, Carnival & more
An Amazon.com Inc worker prepares an order in which the buyer asked for an item to be gift wrapped at a fulfillment center in Shakopee, Minnesota, U.S., November 12, 2020. Amazon.com Inc | Reuters Check out the companies making headlines...
Fed weighed adjusting bond purchases to provide more help to economy ‘fairly soon,’ minutes show
Federal Reserve officials indicated at their last meeting that adjustments could be made soon to their bond-buying program as the central bank looks to alternate ways it can support the economy. The Fed on Wednesday released minutes from its Nov....
14 million workers face losing unemployment benefits at the end of December
Capitol Building in Washington, D.C. DEA / M. BORCHI | De Agostini | Getty Images Nearly 14 million American workers are collecting unemployment benefits through programs that will lapse at the end of the year without congressional action. Expiring aid...
Another record low mortgage rate just caused demand to jump for both refinances and home purchases
Mortgage interest rates have set record lows more than a dozen times this year, and last week there was yet another. That caused mortgage application volume to increase 3.9% compared with the previous week, according to the Mortgage Bankers Association’s...
Stocks making the biggest moves midday: Gap, Square, Nikola, Nordstrom & more
Check out the companies making headlines in midday trading. Deere — Shares of the equipment maker slipped more than 1% despite the company betting top and bottom line estimates during the fourth quarter. Deere earned $2.39 per share during the...
Weekly jobless claims higher than expected as labor market takes hit from rising Covid cases
The pace of first-time filings for jobless claims picked up last week, with the jobs market showing increasing vulnerability to the coronavirus spread. Claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expectation from economists surveyed...
Market’s record run is far from the finish line, Oppenheimer’s chief strategist predicts
Dow 30,000 may just be the beginning. Oppenheimer Asset Management’s John Stoltzfus believes the Dow’s record high on Tuesday is justified despite the nation’s battle against surging coronavirus cases. He lists a resilient economy as the major factor for optimism....
JPMorgan Chase pays $250 million penalty over weak controls in its wealth management division
Justin Sullivan | Getty Images JPMorgan Chase agreed Tuesday to pay a $250 million fine after one of its U.S. regulators found a “pattern of misconduct” in its asset and wealth management division. The Office of the Comptroller of the...
‘No. 1’ thing preventing a dollar comeback is the virus surge, currency strategist says
It may take months for the dollar to stage a comeback. Brown Brothers Harriman’s Win Thin warns it will continue to weaken due to the surge in coronavirus cases. “What I’m focused on near-term is really the virus numbers and...