Business Archives

Wall Street ticks to more records, led by technology stocks

NEW YORK (AP) — U.S. stocks edged up to more records. The S&P 500 rose 0.1% Thursday. The Dow Jones Industrial Average added 0.2%, while the Nasdaq composite climbed 0.4%. All three set all-time highs. Technology stocks helped lead the way after OpenAI announced partnerships with South Korean companies for its Stargate artificial-intelligence infrastructure project. Fair Isaac surged to its best day in nearly three years after unveiling a program where customers can potentially bypass big credit bureaus for FICO credit scores. Stock indexes also rose across much of Europe and Asia, while Treasury yields eased in the bond market.… Continue Reading

NC-based Honeywell, one of the few remaining US industrial conglomerates, will split into three companies

Honeywell plans to separate its automation and aerospace technologies businesses from the U.S. industrial conglomerate, following similar actions by companies such as General Electric and Alcoa. Honeywell said Thursday that the move means there will be three publicly listed companies, when also accounting for its previously announced plan to spin off its advanced materials business.… Continue Reading

Stock market today: Nasdaq edges back from its record as chip companies and Eli Lilly slump

NEW YORK (AP) — U.S. stock indexes edged lower after drops for Eli Lilly and chip companies overshadowed a jump for Google’s parent company. The S&P 500 slipped 0.3% Wednesday. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite lost 0.6% from its record set the day before. Eli Lilly sank on concerns about two of its blockbuster drugs, while chip stocks struggled after Advanced Micro Devices gave a forecast for upcoming revenue that investors found disappointing. Treasury yields rose in the bond market following the latest reports on a U.S. economy that’s remaining more resilient than feared.… Continue Reading

Stock market today: Rising tech stocks send Nasdaq to a record as most of Wall Street stumbles

NEW YORK (AP) — Rising technology stocks sent the Nasdaq composite to a record, but trading was mixed along the rest of Wall Street. The S&P 500 rose 0.2% Tuesday, even though the majority of stocks in the index fell. Gains for Microsoft, Meta Platforms and other influential Big Tech stocks helped mask weakness elsewhere, and they pushed the Nasdaq up 0.8% to top its record set in July. The Dow Jones Industrial Average, meanwhile, fell 0.4%. Homebuilders and Ford Motor dropped to some of the market’s sharpest losses following the latest profit reports. Treasury yields eased in the bond market.… Continue Reading

Google expert at antitrust trial says government underestimates competition for online ad dollars

ALEXANDRIA, Va. (AP) — An expert witness testifying for Google says an antitrust case brought against the tech giant drastically underestimates the company’s competition. Economist Mark Israel testified Thursday for Google during the third week of trial in Alexandria, Virginia. The Justice Department and several states contend Google holds an illegal monopoly over the technology that matches online advertisers to publishers, a multibillion-dollar industry. Israel says the government’s case doesn’t account for changes that have occurred in online advertising over the past 10 years. In particular, the government fails to recognize that social media companies and online retailers like Amazon are competing directly with Google.… Continue Reading

Stock market today: Most of Wall Street edges lower after Fed delivers a big cut to rates

NEW YORK (AP) — Wall Street is hanging near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates. The S&P 500 was 0.2% higher in afternoon trading Wednesday, within 0.3% of the all-time closing high it set in July. The Dow Jones Industrial Average was up 85 points, or 0.2%, slightly above the record it set on Monday. The Nasdaq composite added 0.5%. The momentous move by the Fed eases the brakes off the economy by lowering the cost of borrowing money. It also gives a boost to prices for all kinds of investments.… Continue Reading