Like it or not - this market remains fixated on the unresolved trade war between the world's two biggest economies, says Mercadien Asset Management President Ken Kamen.
(SOUNDBITE) (ENGLISH): KEN KAMEN, PRESIDENT, MERCADIEN ASSET MANAGEMENT, SAYING: "To me that's been a game of, the kids game of 'yeah/boo'.
It's so hard.
It's been so much of that up and down.
I'd like to see it done.
I'm a little disappointed that right now we've created this new things called a phase one deal.
It's going to be going after minor stuff so we can get pass this, so everyone can call victory.
It seems that we've all gone through a lot of heart ache for the last year or so to wind up where we could of been if they would have just done this behind the scene and quietly." Healthcare stocks got a boost from the White House.
President Trump unveiled new rules to increase price transparency among hospitals, group health plans and health insurers.
He also said he will be giving states the right to buy prescription drugs from other countries.
Shares of health care insurance companies like UnitedHealth surged after his announcement.
It was a banner month for global stocks, powered in part by the biggest November gain for the S&P 500 in history and the strongest monthly performance for the Dow since 1987. Conway G. Gittens has the details.
Slack rocketed as much as 32% higher on Wednesday after Dow Jones reported Salesforce.com is in talks to acquire the workspace-communications company. Such a deal would likely value Slack at more than the $17 billion market cap it held before shares jumped. There's no guarantee the talks will lead to a takeover, and Salesforce could target another company for an acquisition, sources familiar with the matter told Dow Jones.
The S&P 500 and the Dow retreated Wednesday as a surprise rise in weekly jobless claims added to signs the recovery of the labor market was stalling amid a surge in COVID-19 infections. Fred Katayama reports.
Global shares reached record highs on Wednesday after the Dow Jones broke 30,000, with investors relieved at the prospect of a smooth handover of power after the U.S. presidential election and confident a COVID-19 vaccine would soon be ready. Francis Maguire reports.
[NFA] U.S. President Donald Trump on Thursday declined to say whether he still had confidence in U.S. Attorney General William Barr after the Department of Justice chief this week said there was no sign of major fraud in last month's presidential election. This report produced by Chris Dignam.
Spartan Capital Securities chief market economist Peter Cardillo tells Reuters Fred Katayama investors are overly optimistic on the impact of vaccines as AstraZeneca's trial data comes under question. He also provides his view on retailers' prospects for the holiday shopping season.
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year.
Target blew past Wall Street expectations for quarterly profit and sales on Wednesday as more Americans used the big-box retailer's quick delivery services to buy everything from electronics to home goods during the COVID-19 pandemic. Fred Katayama reports.
Lukas Jackson/Reuters US stocks closed mixed on Thursday amid falling jobless claims and new hopes for a stimulus deal. The Nasdaq composite closed at all-time highs, while the S&P 500 lost its record close in the final hour of trading. New weekly claims for unemployment insurance totaled an unadjusted 712,000 for the week that ended Saturday. Economists surveyed by Bloomberg expected a reading of 775,000.
The S&P 500 climbed to a record high close on Wednesday, and the Nasdaq Composite Index dipped as investors weighed upbeat vaccine developments and a potential coronavirus fiscal package against a bleak private jobs report. Conway G. Gittens reports.
The S&P 500 is up 13 percent year-to-date, recovering from a steep nose-dive earlier this year, which could present many investors near retirement age with the best chance to lock-in their gains for the year, Rhian Horgan of retirement planning app Silvur told Reuters Business Correspondent Conway G. Gittens.
The S&P 500 and Nasdaq Composite indexes closed at record highs on Tuesday, as investors applauded renewed stimulus talks in Washington and bet a COVID-19 vaccine will be available soon. Conway G. Gittens has all the Wall Street action.
Business Insider reports that Airbnb is planning to raise $2.6 billion in its mid-December IPO. The IPO would give Airbnb a valuation of up to $35 billion. The company plans to list about 50 million shares at between $44 and $50 per share, a regulatory filing showed. Airbnb will list on the NASDAQ under the symbol "ABNB." It was previously eyeing a $30 billion valuation, with $3 billion in proceeds.
On Monday, US stocks rose. AstraZeneca said its COVID-19 vaccine candidate demonstrated an average efficacy rate of 70%. This is the third COVID-19 vaccine said to have surpassed the Food and Drug Administration's requirement of 50% effectiveness. S&P 500: 3,580.82, up 0.7% Dow Jones industrial average: 29,473.41, up 0.7% (210 points) Nasdaq composite: 11,929.04, up 0.6%
The Nasdaq closed higher on Wednesday as investors switched back to technology stocks and away from economically sensitive sectors as they weighed COVID-19 vaccine progress against a virus surge and likely timing for a economic rebound. Fred Katayama reports.
The Nasdaq closed lower on Tuesday as investors sold off technology stocks that benefited from virus lockdowns and favored the sectors that suffered most during the pandemic on optimism that a COVID-19 vaccine would turn around the economy. Fred Katayama reports.
U.S. stocks jumped on Thursday, as investors bet Republicans would retain control of the Senate and block any major policy changes under a possible Joe Biden White House that could dampen corporate profits. Fred Katayama reports.
Dr. Fauci met with President-elect Joe Biden's transition team on Thursday. Fauci will continue in his role under the Biden administration at the National Institutes of Health. Fauci said they discussed “a variety of Covid-related topics.” Fauci said he has spoken previously with Biden's incoming White House chief of staff, Ron Klain. Fauci added that his Thursday meeting will likely be the first of a series of transition meetings with the team.
The public should expect a "flurry" of pardons before President Donald Trump leaves office. A source close to the White House suggested this, according to reports at CNN. The reality is that pardons happen at the end of almost all previous administrations. This source said Trump's advisers say it would perfectly fine for Trump to pardon his family members. He may also pardon other associates preemptively, even if they haven't been charged with any crimes.
U.S. President Donald Trump released a lengthy speech recorded at the White House on Wednesday, in which he repeated his unsubstantiated claims of widespread election fraud, a day after Attorney General William Barr said there was no evidence of widespread fraud that could change the outcome. This report produced by Chris Dignam.
When asked by a reporter on Wednesday if the White House was setting a good example by holding in-person holiday parties during a pandemic, White House Press Secretary Kayleigh McEnany said "if you can loot businesses, burn down buildings, engage in protest, you can also go to a Christmas party."