Category: Stock Market News

U.S. stocks finished the week on a subdued note, as worries over U.S. tax reform and a delay of the promises cut in corporate taxation, weighed on investors’ minds. The Dow Jones Industrial Average slipped 0.2% to 23,423, marking its first weekly loss in nine weeks. The S&P 500 dropped 0.1% to finish the week at 2,582 points, also breaking an eight-week winning streak with a slight dip into negative territory on the week. The Nasdaq Composite meanwhile ended the day marginally higher at 6,751 points, sliding 0.2% on the week. In individual stocks, chip maker Nvidia Corp. rose 4.9% on the back of better-than-expected earnings, while Walt Disney Co. shares were up 2.1% despite an earnings-miss, thanks to the announcement of new Star Wars projects.

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.

…read more

From:: Stock Market News

Bandwidth Inc. had its initial public offering Friday and investors sent the stock up 5% to $21 in late afternoon trading. Executives priced the IPO at $20, the low end of the $20 to $22 range executives sought, according to filings with the Securities and Exchange Commission. The Cary, NC-based company sold 4 million shares, and raised $80 million as the stock listed on Nasdaq under the ticker symbol “BAND”. Bandwidth bills itself as a communications provider offering a range of VoIP services such as messaging, voice and 9-1-1 calling.

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.

…read more

From:: Stock Market News

Oil futures ended lower Friday, maintaining losses after data showed a rise in the number of U.S. oil rigs. West Texas Intermediate crude for December delivery lost 43 cents, or 0.8%, to end at $56.74 a barrel. For the week, the U.S. benchmark rose more than 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.

…read more

From:: Stock Market News

Gold futures settled sharply lower on Friday, even as both stocks and the dollar, which typically move inversely to precious metals, slumped on the back of waning confidence for economy-boosting tax reform. Market participants also speculated about a sizable intraday sales that helped add to selling pressure in the commodity. December gold finished down $13.30, or 1%, at $1,274.20 an ounce, but booked a weekly gain of about 0.4%, according to FactSet data, marking its first weekly rise in that past four weeks.

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.

…read more

From:: Stock Market News

Crude futures remained lower Friday after oilfield services firm Baker Hughes reported the number of U.S. oil rigs rose by nine this week, bringing the total count to 738. Compared to the same time last year, the number of rigs has grown by 286. West Texas Intermediate crude for December delivery was down 44 cents, or 0.8%, at $56.73 a gallon.

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.

…read more

From:: Stock Market News

PPDAI, China’s biggest peer-to-peer lender, saw its shares jump 3.3% out of the gate on Friday after the company priced its initial public offering at $13, below its $16 to $19 price range. The company sold 17 million shares to raise $221 million. Shares are trading on the NYSE under the ticker symbol “PPDF.” The S&P 500 was last 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.

…read more

From:: Stock Market News

The Dow Jones Industrial Average on Friday was being weighed by slumping shares of McDonald’s Corp., for a second straight session. The fast-food chain’s shares were, down 1.4%, or $2.35, cutting about 15 points from the price-weighted Dow . Shares of McDonald’s fell 1.8%, or $3.10, on Thursday, serving as the biggest drag on the Dow, which closed off more than 100 points on the day. Shares o Johnson & Johnson and Boeing Co. also were contributed to the price-weighted blue-chip index’s decline. A $1 swing in any one of the Dow’s components equates to a move of 6.89 points. The Dow was off 46 points, or 0.2%, at 23, 419, the S&P 500 index gave up 6 points, or 0.2%, at 2,578, while the Nasdaq Composite Index retreated 7 points, or 0.1%, at 6,742, in early trade.

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.

…read more

From:: Stock Market News

U.S. stocks opened modestly lower on Friday, with the main indexes on track to end the week with losses for the first time in nine weeks. The recent bout of selling on Wall Street comes as investors fret about a possible delay in much-anticipated corporate tax cuts. The S&P 500 opened 6 points, or 0.2%, lower at 2,580. The Dow Jones Industrial Average was down 17 points, or 0.1%, to 23,444. The tech-heavy Nasdaq Composite index fell 11 points, or 0.2%, to 6,739. Among the best performers on Wall Street, shares of NVIDIA Corp rallied after the company beat earnings estimates.

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.

…read more

From:: Stock Market News

Bandwidth Inc. priced its initial public offering at $20, the low end of its $20 to $22 price range, the cloud-based communications company said in a statement. The company sold 4 million shares to raise $80 million. Shares will start trading on Nasdaq later Friday under the ticker symbol “BAND”.

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.

…read more

From:: Stock Market News

Alibaba Group Holding Ltd. is awaiting Singles Day 2017, or 11/11 Global Shopping Festival, on Saturday, and the event is expected to generate sales of RMB155.0 billion to RMB162.0 billion (about $23.34 billion to $24.39 billion), according to SunTrust Robinson Humphrey. Singles Day is the biggest shopping day for Alibaba and e-commerce as a whole. Last year, Alibaba reported $17.8 billion in sales. There are 140,000 brands participating, 60,000 of which are international, SunTrust wrote in a Friday note. “We expect 29% to 35% year-over-year increase in gross merchandise volume growth for this event, as the company benefits from strong online consumer demand driven by aggressive Tmall promotions, a large increase in participating global brands, and contribution from the New Retail marketing effort,” wrote analysts led by Youssef Squali. There’s heightened competition from rival e-commerce site JD.com, which has partnerships with Tencent Holdings Ltd. and Baidu Inc. to drive traffic. JD.com has also brought its membership program together with Wal-Mart Stores Inc. for order fulfillment. SunTrust rates Alibaba shares buy with a $210 price target. A survey conducted by Fung Global Retail & Technology found that 65% of consumers plan to shop on JD.com. And 93% of Chinese online shoppers participated in Singles Day last year. Alibaba shares are up more than 96% for the past year while the S&P 500 index is up 19.3% for the period.

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.

…read more

From:: Stock Market News