Wire stories category, Page 73
Orders for big-ticket manufactured goods rebound in March
WASHINGTON — Orders for big-ticket manufactured goods rebounded 0.5% in March as U.S. factories recovered from February weather disruptions. However, the recovery was not as strong as most had expected due to ongoing supply chain disruptions that continue to ensnare U.S. manufacturers. It was the tenth time in the past...
Stocks reach more records as earnings kick into high gear
Technology companies helped lift stocks modestly higher Monday on Wall Street, nudging the S&P 500 and Nasdaq indexes to all-time highs. The S&P 500 rose 0.2%, with only slightly more than half the companies in the index notching gains. Banks and companies that rely on consumer spending were among the...
Stocks rise, erasing most of S&P 500’s weekly losses
Stocks closed out a choppy week of trading with a broad rally, though the gains were not enough to keep the S&P 500 from its first weekly loss in the last five. The benchmark index rose 1.1% Friday, clawing back all of its losses from a day earlier. It posted...
Screws tighten for home buyers in March, prices surge 17.2%
Sales of previously occupied U.S. homes fell for the second consecutive month in March because there are so few on the market, and the fierce competition for those that do exist is pushing prices to new highs. Existing home sales fell 3.7% last month from February to a seasonally-adjusted rate...
Stocks end lower after report on Biden’s tax proposal
A report that President Biden will propose a hefty tax increase on the gains wealthy individuals reap from investments triggered a stock market sell-off Thursday afternoon that left indexes broadly lower. Investors who earn $1 million or more would have to pay a 39.6% tax rate on any capital gains,...
Stocks end higher on Wall Street after a day of steady gains
Technology companies and banks helped lift stocks on Wall Street broadly higher Wednesday, enabling the market to claw back some of its losses after a downbeat start to the week. The S&P 500 rose 0.9%, snapping a two-day slide. Most of the companies in the benchmark index rose, with technology,...
Foxconn deal with Wisconsin lowers tax breaks to $80 million
MADISON, Wis. — Foxconn Technology Group will be eligible for just $80 million in taxpayer subsidies under a new contract signed Tuesday, down from nearly $3 billion it could have received under the original deal that envisioned a much larger project in southeastern Wisconsin. Democratic Gov. Tony Evers, who ran...
Apple to host virtual iPad event, may hint at new AirPods
Many of us may be suffering from virtual event fatigue after a year of video calls. But not Apple, which plans new product announcements at what seems likely to be an iPhone-less online event on Tuesday. It’s the first such event for the company in 2021. Analysts expect new iPads...
Miners’ union backs shift from coal in exchange for jobsVideo
WASHINGTON — The nation’s largest coal miners’ union said Monday it would accept President Joe Biden’s plan to move away from coal and other fossil fuels in exchange for a “true energy transition” that includes thousands of jobs in renewable energy and spending on technology to make coal cleaner. Cecil...
Stocks close lower, pulling indexes below record highs
Technology companies helped drag stocks broadly lower Monday, pulling the indexes below the record highs they reached last week. The S&P 500 dropped 0.5%, shedding more than a third of its gain from last week. Tech stocks were the biggest weight on the market, but the losses were shared broadly...
Mercedes rolls out luxury electric car in duel with Tesla
FRANKFURT, Germany — Daimler AG on Thursday unveiled a battery-powered counterpart to its top Mercedes-Benz luxury sedan as German carmakers ramp up their challenge to electric upstart Tesla. The EQS is the first Mercedes-Benz vehicle to be built on a framework designed from the start as an electric car, rather...
Dow crests 34,000 on more proof that economy is recovering
NEW YORK — Wall Street notched more milestones Thursday, as a broad market rally pushed the S&P 500 to an all-time high and the Dow Jones Industrial Average crossed above the 34,000 mark for the first time. The S&P 500 rose 1.1%, with technology, health care and communication stocks accounting...
Most stocks rise, indexes end mixed as earnings kick off
NEW YORK — Most stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what’s expected to be a thunderous earnings reporting season. The S&P 500 fell 16.93 points, or 0.4%, to 4,124.66, a day after returning to an all-time...
Coinbase is here: A digital currency exchange goes public
Wall Street is still waiting on the first trade for Coinbase, as the digital currency exchange makes its highly-anticipated debut on the stock market. Coinbase Global Inc. is making its initial public offering of stock Wednesday with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. Digital currencies are...
U.S. budget deficit jumps to record $1.7 trillion this year
WASHINGTON — The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month. In its monthly budget report, the Treasury...
Drivers wanted: Record demand at Uber as vaccinations rise
Uber is offering sign-up bonuses and other incentives for drivers as it faces record demand for rides and meal delivery. The San Francisco ride-hailing company said Monday that total monthly bookings, including food delivery and passenger service, reached an all-time high in March. In a government filing, the company said...
Stocks end slightly below latest record highs as tech slips
Stock indexes gave up some of their recent gains Monday, pulling the S&P 500 slightly below the record high it hit last week. Technology, communication and energy stocks weighed on the market, outweighing gains by a broad mix of companies, including banks and those that rely directly on consumer spending,...
Study: Facebook delivers biased job ads, skewed by gender
Facebook is showing different job ads to women and men in a way that might run afoul of anti-discrimination laws, according to a new study. University of Southern California researchers who examined the ad-delivery algorithms of Facebook and LinkedIn found that Facebook’s were skewed by gender beyond what can be...
Judge orders delay amid debate over Dakota Access pipeline
BISMARCK, N.D. — A judge on Friday delayed a decision on whether the Dakota Access Oil pipeline should be shut down while the U.S. Army Corps of Engineers conducts an environmental review on the project, after lawyers for the pipeline asked for more time to outline the effects of recent...
Walmart eyes local companies as McDonald’s exits some stores
As McDonald’s works on closing some of its locations within Walmart stores, the retailer is looking to put local businesses and others into place. McDonald’s has gradually been closing locations at Walmart stores over the years but will keep a presence within about 150 Walmarts. Walmart spokeswoman Molly Blakeman said...
Tech companies help lift stocks, push S&P 500 to record high
Technology companies helped lift stocks higher on Wall Street in afternoon trading Friday, placing the market within striking distance of more record highs. The gains are in line with the market’s modest upward tack this week as investors weigh concerns about the virus tripping up a steady economic recovery against...
Amazon warehouse workers reject union bid in Alabama
Amazon workers voted against forming a union at a warehouse in Alabama, handing the online retail giant a decisive victory and cutting off a path that labor activists had hoped would lead to similar efforts throughout the company and beyond. After months of aggressive campaigning from both sides, 1,798 warehouse...
Airlines pull Boeing Max jets to inspect electrical systems
Airlines pulled dozens of Boeing Max 737s out of service for inspections after the aircraft maker told them about a possible electrical problem, the latest setback for the plane. Boeing said Friday that the issue affected planes used by 16 airlines. The company did not say how many planes are...
Florida sues federal government to allow cruises to sailVideo
MIAMI — The state of Florida has filed a lawsuit against the federal government to demand cruise ships be allowed to start sailing immediately, Gov. Ron DeSantis announced Thursday. DeSantis said the no-sail order is outdated and hurts the state as the industry generates billions for the economy and employs...
Fed’s Jerome Powell: U.S. nears full reopening to ‘different economy’Video
WASHINGTON — The U.S. economy, boosted by quickening vaccinations and signs of rapid hiring, is headed toward a strong recovery, Federal Reserve Chair Jerome Powell said Thursday. But he cautioned that not all will immediately benefit. “There are a number of factors that are coming together to support a brighter...
