Early gains among U.S. stocks faded late Wednesday, leaving major indexes little changed from the prior day.
A rally in shares of fast-growing, technology-driven companies helped lead the market higher shortly after the opening bell.
As the afternoon progressed, though, the market’s momentum faded--leaving the Dow Jones Industrial Average...
The deadly coronavirus outbreak is sparking big moves among biotechnology stocks, a volatile sector where companies can flourish or struggle depending on their progress in developing new medical treatments.
Shares of Moderna Inc., a Cambridge, Mass.-based biotech company, rose 5.2% to $22.02 in afternoon trading Wednesday after it said in a regulatory filing that it was working with the National Institutes of Health and two of its affiliates “on a potential vaccine response to the current public health emergency.” NIH is the...
The province of Buenos Aires extended Wednesday’ deadline for its creditors to accept a three-month delay in the repayment of $250 million in foreign debt after bondholders complained about the short notice the provincial government had originally given them.
Creditors now have until Jan. 31 to decide whether to accept or reject the province’s request to delay payment of the principal until May, the provincial government said in a statement. The bonds, which come due on Sunday, are at risk of default if the deadline passes...
The chief executive of Sibanye-Stillwater said the South African miner will expand beyond precious metals, through acquisitions, into copper, cobalt and other metals used in electric vehicles, making the company the second big miner to plot such a move.
The miner also aims in the year’s second half to make a decision on moving its primary listing from South Africa to an exchange in New York, London or Toronto, CEO Neal Froneman told The Wall Street Journal....
Crude prices fell Wednesday, weighed down by concerns that a deadly strain of coronavirus that originated in China could dent demand for oil and jet fuel.
U.S. crude futures fell 2.6% to $56.87 a barrel, while Brent, the global gauge of prices, fell 2.2% to $63.17 a barrel in morning trading.
The pneumonia-causing virus has spread across China...
- Nearly 90% of international transactions in 2019 were in U.S. dollars, giving the U.S. extraordinary power over nearly every entity that imports or exports anything anywhere. Here’s how the global economy runs on the U.S. dollar -- and why some countries are trying to chip away at its dominance.
Elon Musk has navigated Tesla Inc. into new territory, as the electric-car maker’s market value topped $100 billion Wednesday morning and overtook Volkswagen AG as the world’s No. 2 most valuable auto maker.
Tesla shares traded 6.25% higher early on Wednesday, lifting its market cap to $104.8 billion. Crossing the $100 billion threshold could start unlocking a more than $50 billion pay package for Mr. Musk. Volkswagen shares fell 1.48% in late German trading, putting its market cap around 90 billion euros ($99.7 billion)....
It is business as usual at Johnson & Johnson. After a difficult year, that should be a welcome sign for shareholders.
Fourth-quarter results were solid, although unspectacular. Sales of $20.7 billion narrowly missed analyst expectations, while adjusted earnings of $1.88 a share topped estimates. Shares edged lower in morning trading after rallying sharply since November. But there is good reason to expect the selloff to be brief....
IBM isn’t exactly in uncharted territory, but it has been awhile.
International Business Machines wrapped the final quarter of 2019 with a surprising bit of growth. It was a small bit, with revenue increasing by 0.1% year over year to about $21.8 billion. More notable was the company’s outlook for this year. On IBM’s earnings call Tuesday, Chief Financial Officer Jim Kavanaugh described Wall Street’s target of 3% revenue growth for 2020 as “reasonable.” IBM’s shares jumped 3.7% in early trading Wednesday....
Two United Nations officials called for further investigation into the alleged hacking of Amazon.com Inc. founder Jeff Bezos’ phone in 2018 by a WhatsApp account associated with Saudi Crown Prince Mohammed bin Salman, which the experts said suggested an attempt to influence news coverage of the kingdom by the Washington Post, which Mr. Bezos owns.
The U.N. statement on Wednesday was based on a forensic analysis of Mr. Bezos’ phone reviewed by the two officials. It comes a day after a person familiar with the matter told The...
President Trump said he hoped to clinch a trade agreement with Europe before the 2020 U.S. presidential election, promised overhauls of the World Trade Organization and signaled concern over calling witnesses at the Senate impeachment trial.
In a wide-ranging news conference at the World Economic Forum in Davos on Wednesday shortly before returning to the U.S., Mr. Trump sought to focus on the economy, ticking off a list of statistics that he said showed “America’s unprecedented economic successes.”...
To receive the Daily Shot newsletter in your inbox, please sign up at our Email Center. Previous issues of the Daily Shot are available online at DailyShotWSJ.com. Have questions, feedback or comments? Contact author Lev.Borodovsky@DowJones.com. Twitter: @SoberLook The Daily Shot: 22-Jan-20 • The United States • The United Kingdom • The Eurozone • Asia – […]
Oil giant BP PLC has appointed Murray Auchincloss as its chief financial officer, expanding changes to the company’s leadership ahead of Chief Executive Bob Dudley’s planned retirement.
Mr. Auchincloss, currently CFO of BP’s upstream business, replaces Brian Gilvary, who is retiring on June 30 after eight years in the role and 34 years at BP. The change follows Bernard Looney’s appointment as CEO from Feb. 5. Mr. Looney is currently head of BP’s upstream business....
Italian assets slumped Wednesday as fresh political uncertainty threatened to derail reforms and pose a further setback to the troubled economy.
The yield on 10-year government bonds climbed to the highest level since August in intraday trading, before easing down, on concerns that Italy’s coalition government may collapse if the leader of one of the two ruling parties steps down. Bond yields rise when prices fall. Shares in Italy’s biggest banks, Intesa Sanpaolo SpA and UniCredit SpA, also fell, pulling the FTSE Italia All-Share...
Everything seems to be going wrong for Boeing. In the latest batch of bad news, however, there may be some grounds for optimism.
On Tuesday, the Chicago-based plane manufacturer said its grounded 737 MAX jet wasn’t likely to return to service until mid-2020, dashing hopes of a first-quarter recertification.
That means most airlines probably...
WASHINGTON—Sales of previously owned U.S. homes rose in December, a sign historically low unemployment and low mortgage rates are propelling the U.S. housing market as it enters a new year.
Home sales increased 3.6% in December compared with November to a seasonally adjusted annual rate of 5.54 million, the National Association of Realtors said Wednesday.
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