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Overstock.com Inc. said late Friday Stormy Simon will resign as the online retailer’s president by July 25. Simon will remain a member of the company’s board of directors until no later than Sept. 30, Overstock.com said in a statement. Simon’s duties will be split between acting CEO Mitch Edwards and two other top executives. Patrick M. Byrne, Overstock’s founder and CEO, is currently on medical leave. Shares of Overstock.com rose 1.1% in late trading after ending the regular session down 0.3%.

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 closed at their third-straight week of gains Friday, as the S&P 500 Index and the Nasdaq Composite Index retreated slightly on the session and the Dow Jones Industrial Average gained slightly for a fourth straight day of record closing highs. The Dow industrials rose 10.14 points, or less than 0.1%, to close at 18,516.55, a fresh closing high for the average, for a 2% weekly gain. The S&P 500 slipped 2.01 points, or 0.1%, to close at 2,161.74, for a weekly gain of 1.5%. The Nasdaq declined 4.47 points, or 0.1%, to finish at 5,029.59, for a weekly gain of 1.5%.

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

The U.S. dollar soared against the Turkish lira Friday after reports of gunfire in Ankara, the capital of Turkey. Reuters also reported that authorities closed two bridges in Istanbul, and that military jets and helicopters were seen flying over Ankara. The dollar soared 2% against the lira to its strongest level in a week, buying 2.92 lira, compared with 2.88 late Thursday. The iShares MSCI Turkey ETF was down 2.5% to $41.61.

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

Oil futures settled near $46 a barrel on Friday to post a gain of more than 1% for the week as some upbeat economic data from China and the U.S. buoyed prospects for energy demand. August WTI crude rose 27 cents, or 0.6%, to settle at $45.95 a barrel on the New York Mercantile Exchange. Prices saw a weekly gain of 1.2%.

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

Gold futures settled lower Friday, snapping a six-week streak of moving higher, as investors shrugged off safe-haven assets following a suspected terrorist attack in France. Gold for August delivery declined $4.80, or 0.4%, to settle at $1,327.40 an ounce, for a weekly decline of 2.3%. Silver for September delivery shed 15.7 cents, or 0.8%, to settle at $20.165 an ounce, but settled up 0.3% for the week, for its seventh week of gains.

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