Business News Archives

Stock market today: Wall Street begins Trump’s second term with gains

NEW YORK (AP) — U.S. stocks rose after more companies said they made bigger profits at the end of last year than analysts expected and as Treasury yields eased. The S&P 500 climbed 0.9% Tuesday, while many markets around the world took only tentative steps following Donald Trump’s return to the White House. The Dow Jones Industrial Average added 1.2%, and the Nasdaq composite gained 0.6%. Trump has promised sweeping moves to reshape global trade and the economy, often at other countries’ expense, but stock indexes in Asia and Europe mostly made only modest moves. Bitcoin pulled back from its record set on Monday.… Continue Reading

Stock market today: Wall Street drifts lower as momentum slows for US stocks

NEW YORK (AP) — U.S. stock indexes drifted lower following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies. The S&P 500 slipped 0.2% Thursday, even though more stocks rose than fell within the index. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite fell 0.9%. Stocks had shot higher the day before on hopes that an encouraging report on inflation may convince the Federal Reserve to deliver more cuts to interest rates. Treasury yields eased in the bond market following some mixed reports on the U.S. economy.… Continue Reading

Stock market today: Wall Street rips higher after inflation data and strong bank profits

NEW YORK (AP) — U.S. stocks are ripping higher an encouraging update on U.S. inflation. The S&P 500 jumped 1.7% Wednesday. The Dow Jones Industrial Average climbed 664 points, and the Nasdaq composite gained 2.2%. Strong profit reports from the biggest U.S. banks also helped launch indexes toward their best day in two months. Wells Fargo, Citigroup and Goldman Sachs helped lead the way. Treasury yields eased on hopes that Wednesday’s inflation update could help convince the Federal Reserve to cut interest rates further later this year. European stocks rallied, while Asian markets were more subdued.… Continue Reading

Stock market today: Wall Street ticks higher after encouraging inflation data

NEW YORK (AP) — Most U.S. stocks are rising following an encouraging update on inflation, but drops for Eli Lilly and some other influential companies are keeping indexes in check. The S&P 500 rose 0.1% Tuesday, with roughly 70% of the stocks in the index higher. The Dow Jones Industrial Average added 134 points, and the Nasdaq composite was close to flat. Treasury yields were relatively steady in the bond market after a report showed inflation at the U.S. wholesale level wasn’t as high last month as economists expected. Oil prices gave back some of their big gains from recent weeks.… Continue Reading

Farming and wildfire tech is on display at CES as companies showcase their green innovations and initiatives

LAS VEGAS (AP) — Sustainability is a key theme this year at the annual CES tech trade show in Las Vegas. Agriculture tech is on full display on the show floor while companies big and small also showcase their green innovations and initiatives. That includes Volvo CEO Martin Lundstedt’s vow to reach net-zero emissions by 2040 and Wisconsin-based OshKosh Corporation’s electric fire engines and garbage trucks. John Deere also unveiled a fleet of fully autonomous equipment like tractors that are already in use on some farms and orchards. Some experts say AI is key to the industry’s future as climate change makes farming more unpredictable.… Continue Reading

Biden issues ban on offshore oil and gas drilling in most federal waters. Trump vows to undo it

WASHINGTON (AP) — President Joe Biden is moving to ban new offshore oil and gas drilling in most U.S. coastal waters. It’s a last-minute effort to block possible action by the incoming Trump administration to expand offshore drilling. Biden’s term expires in two weeks. He says he is using authority under federal law to protect offshore areas along the East and West coasts, the eastern Gulf of Mexico and portions of Alaska’s Northern Bering Sea from future oil and natural gas leasing. Biden said his decision is backed by coastal communities who know that offshore drilling could cause irreversible environmental damage. President-elect Donald Trump says the decision will be reversed after he takes office Jan. 20.… Continue Reading

Stock market today: Wall Street slips in final days of a banner year for US stocks

Stocks fell on Wall Street as a strong year for the market looks set to end on a sour note. The S&P 500 closed 1.1% lower Monday. On the second-to-last day of 2024, the benchmark index is still on track for its second straight yearly gain of more than 20%. The Dow Jones Industrial Average gave back 1%, and the Nasdaq composite lost 1.2%. Declines in Big Tech companies like Apple and Microsoft weighed on the market. Boeing fell after one of its jets skidded off a runway in South Korea, killing 179 of the 181 people aboard.… Continue Reading

How the stock market defied expectations again this year, by the numbers

NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The benchmark index posted its first back-to-back annual gains of more than 20% since 1998. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn’t just Apple, Nvidia and the like. Bitcoin and gold surged and “Roaring Kitty” reappeared to briefly reignite the meme stock craze.… Continue Reading

Holiday shoppers increased spending by 3.8% despite higher prices

New data shows holiday sales rose this year even as Americans wrestled with still high prices in many grocery necessities and other financial worries. According to Mastercard SpendingPulse, holiday sales from the beginning of November through Christmas Eve climbed 3.8%, a faster pace than the 3.1% increase from a year earlier. The measure tracks all kinds of payments including cash and debit cards. This year, retailers were even more under the gun to get shoppers in to buy early and in bulk since there were five fewer days between Thanksgiving and Christmas. Mastercard SpendingPulse says the last five days of the season accounted for 10% of the spending. Sales of clothing, electronics and Jewelry rose.… Continue Reading

Stock market today: Wall Street rises at the start of a holiday-shortened week

Stocks closed higher on Wall Street at the start of a holiday-shortened week. The S&P 500 rose 0.7% Monday. Several big technology companies helped support the gains, including chip companies Nvidia and Broadcom. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite rose 1%. Honda’s U.S.-listed shares rose sharply after the company said it was in talks about a combination with Nissan in a deal that could also include Mitsubishi Motors. Eli Lilly rose after announcing that regulators approved Zepbound as the first prescription medicine for adults with sleep apnea. Treasury yields rose in the bond market.… Continue Reading