The Nasdaq ended the day a quarter percent higher.
But the Dow lost 1% and the S&P 500 shed three-quarters percent.
O'Neil Global Advisors Chief Investment Officer Randy Watts says the market is due for a breather: "Given the big run-up we've had, we think the logical technical action for the market would either be a sideways move or a slight pullback." The biggest driver of the Dow the past week, Boeing, fell Tuesday.
The plane maker said deliveries of its jets slowed even further in May from April.
Retail stocks saw some action.
Macy's shares fell after the department store chain swung from a quarterly profit to an operating loss of nearly $1 billion.
But it said the 450 stores it had reopened were performing better than expected.
The Nasdaq jumped more than 1% on Friday, powered by strong earnings from some of the largest U.S. companies, but the Dow and S&P finished with smaller gains as uncertainty about the government's next round of coronavirus aid kept economic worries on the radar. Fred Katayama reports.
The S&P 500 and the Nasdaq finished slightly higher on Friday but the Dow closed with a loss as investors kept an eye on record new coronavirus cases in the U.S. Conway G. Gittens wraps up the trading action.
U.S stocks rose Wednesday and the Nasdaq hit a record closing high, supported by tech shares as early signs of an economic rebound offset concern about rising coronavirus cases across the country. Fred Katayama reports.
US stocks rose on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases. JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. Coronavirus cases continue to climb in the US, forcing states to rollback reopening plans and threatening the economic recovery from the pandemic recession.
The S&P 500 ended lower Friday after a choppy session as investors weighed spiking cases of COVID-19 and Apple's announcement of fresh store closures against anticipated stimulus and continued economic recovery. Fred Katayama reports.
Bernstein analyst Tony Sacconaghi says Tesla shares are far too expensive to recommend after more than tripling in 2020. The firm lowered its Tesla stock rating to "underperform" from "market perform" on Tuesday. It maintained a $900 price target, implying that shares will tumble 42% over the next year. Tesla recently beat earnings and crept closer to inclusion in the S&P 500. Sacconaghi said its valuation "is mind-boggling," the analyst wrote.
Exencial Wealth Advisors' David Yepez expects another profitable quarter from Tesla Wednesday that could clear the way for it to join the S&P 500. He also tells Reuters' Fred Katayama investors should snap up shares of Akamai and Sanofi on a market pullback.
Elon Musk is officially richer than Warren Buffett. Tesla stock, of which Musk is the largest holder, continues to hit record highs. Musk is worth 70-billion dollars. Tesla stock is up 259% in 2020 compared with the benchmark S&P 500 index's 1% gain. Buffett, meanwhile, donated almost $3 billion of Berkshire Hathaway stock, causing his riches to shrink.
For what seems like forever, the hair of African American women has been considered inherently unprofessional. In fact, the persistent practice of workplaces banning certain textures and styles associated with Black hair has led to hair-centric anti-discrimination laws. Now, Allure reports television reporter Treasure Robert's tweet about the issue has gone viral. The tweet has been liked more than 100,000 times in less than 48 hours, and the replies are full of support and similar sentiments. Roberts says she's in awe of the response. Representation is important and I hope that other journalists and Black women, in general, are motivated to be unapologetically themselves. Treasure Roberts, Television Journalist Illinois CBS affiliate WBMD
Crossmark Global Investments' Victoria Fernandez is still bullish about tech stocks, but she says investors should take some profits on the big names. She tells Reuters' Fred Katayama investors should put the proceeds into Walmart, McCormick and JPMorgan Chase.
John Hancock Global Thematic Opportunities Fund's Gert Van Der Geer identifies long-term themes that haven't played out in the market yet. He tells Reuters' Fred Katayama medical technology companies such as Boston Scientific and Edwards will bounce back once people undergo elective surgeries that they put off amid the lockdown.
Teladoc Health has agreed to buy chronic care provider Livongo Health in a deal valuing the company at $18.5 billion that bets on a boom in online care and consultations spurred by the coronavirus crisis. Fred Katayama reports.
Business Insider reports that banks' and tech giants' earnings largely impressed Wall Street. Bank of America says discount stores are set to post similarly positive results, according to Bank of America. BoA analysts expect the sector's second-quarter figures to hold strong thanks to rising food sales and improvement in general merchandise revenue. Thanks to momentum in higher-profit categories and successful online operations Walmart, Target, and Dollar Tree are in good positions.
Wall Street ended higher after a choppy session on Tuesday, but they were capped by declines in AIG and Microsoft. As Fred Katayama reports, Disney shares shot higher after its adjusted profit handily beat expectations.
Wall Street analysts on Wednesday weighed in on AMC Theatres' historic agreement with Universal Pictures that will allow the studio's movies to be made available on premium video-on-demand after just 17 days of play in cinemas.
Credit: The Hollywood Reporter Duration: 01:27Published
Most Americans, including a majority of President Donald Trump’s Republican Party, support sweeping law enforcement reforms such as a ban on chokeholds and racial profiling after the latest death of an African American while in police custody, according to a Reuters/Ipsos opinion poll released on Thursday. This report produced by Chris Dignam.
Microsoft said Thursday it would not sell its facial-recognition technology to police departments. That is, until there is a just federal law, based in human rights, regulating the technology. Reuters reports George Floyd's murder has triggered alarm that facial recognition would be used unfairly against protesters.
Since George Floyd’s death on May 25, people have gathered to protest, in groups large and small, against police brutality. To disperse crowds of protesters, law enforcement has frequently sprayed tear gas. Its micro-pulverized dust lodges both in the body and in clothing. According to Allure, the CDC says anyone sprayed with tear gas, even lightly, should shower and shampoo as soon as possible. If clothing needs to be lifted over the head to remove, it should be cut away.
The New York Stock Exchange observed a moment of silence for eight minutes and 46 seconds to express "support for equality, justice and human rights" in the wake of widespread protests against police brutality and the death of George Floyd while in custody of Minneapolis police.
U.S. stocks rose Friday as a positive analysis on Gilead Sciences Inc's antiviral drug to treat COVID-19 helped to soothe investor worries over a record rise in coronavirus cases in the United States...
(Reuters) - U.S. stocks slumped on Thursday with the Dow shedding over 5% and the index on track for its sharpest one-day decline since March 18, as investors fretted over a resurgence in coronavirus..