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Oil futures continued their climb Friday even after data from Baker Hughes revealed a weekly rise in the number of active U.S. rigs drilling for oil–the fifth increase in a row. The active U.S. oil-rig count rose 3 to 374 as of Friday. Last week, the data showed a rise of 14 oil rigs–the largest increase of the year so far. The total U.S. rig count climbed by 1 to 463 in the latest week, according to Baker Hughes. September crude was at $41.37 a barrel on the New York Mercantile Exchange, up 23 cents, or 0.6%, from Thursday’s settlement. It traded at $41.27 before the data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Facebook Inc.’s time as one of the top five largest U.S. companies by market value lasted less than a day, as Amazon.com Inc. surged right past it in morning trade, in the wake of better-than-expected results. Amazon’s stock jumped $11.46, or 1.5%, bringing its market value to about $360.5 billion. Facebook’s stock slipped 27 cents, or 0.2%, to bring its market value down to $356.9 billion. Amazon moved up two spots since it reported results, pushing Berkshire Hathaway Inc. further down the list to seventh, at $356.4 billion. Rounding out the top five, Apple Inc. was worth $561.3 billion, Alphabet Inc. was at $540.9 billion, Microsoft Corp. was at $441.1 billion and Exxon Mobil Corp. was worth $365.7 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Talend S.A. soared 52% Friday in the company’s market debut on the Nasdaq. Talend, which provides big data and cloud solutions for companies, opened at $27.66 Friday, above the company’s issue price of $18. The company sold 5.25 million American depositary shares to raise $94.5 million. The offering was underwritten by Goldman, Sachs & Co., J.P. Morgan Securities LLC, Barclays Capital Inc. and Citigroup Global Markets Inc.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Four Florida Zika virus cases were “likely” locally transmitted, Florida Gov. Rick Scott said in a press conference Friday, suggesting the start of the disease’s transmission by mosquitoes in the U.S. Though many cases of Zika virus have been confirmed here, these are the first reported that likely were not travel-related. The state’s Department of Health believes active transmission of the virus is happening in a small area north of the downtown Miami area, which is the only area of the state the department is currently testing for local mosquito transmission. Scott said that the department would be increasing various mosquito-fighting efforts along with other response activities.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stocks opened mostly lower on Friday, after a government report showed the U.S. economy grew at a slower pace than expected during the second quarter. Also, the Bank of Japan delivered a smaller-than-expected round of additional stimulus, disappointing investors. Among individual stocks, investors cheered stronger-than-expected earnings by Google-parent Alphabet Inc. and Amazon.com Inc. . But poor results in the energy sector, most notably from energy giants Exxon Mobil Corp. and Chevron Corp. weighed on sentiment. The Dow Jones Industrial Average lost 42 points, or 0.2%, to 18,414, the S&P 500 index shed a point, or less than 0.1% at 2,169, while the Nasdaq Composite Index added 9 points, or 0.2%, to 5,164.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

WASHINGTON (MarketWatch) — The U.S. economy grew at a tepid 1.2% annual rate in the second quarter, held down by a large decline in business investment, the Commerce Department said Friday. The second quarter gain was well below the 2.6% rate economists surveyed by MarketWatch had forecast. Adding to the sense of weakness, first quarter growth was also revised down to a 0.8% annual rate from the prior estimate of a 1.1% gain. Lackluster growth could derail the Federal Reserve’s intentions to raise interest rates at a gradual pace. The weaker than expected growth could also make the economy a bigger issue in the presidential election campaign.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News