Category: Stock Market News

Catalonia’s regional president, in his eagerly awaited first public address since Sunday’s referendum on independence from Spain, seized the opportunity Wednesday to lash out at Spain’s king, Felipe VI, for having ignored the wishes of millions of citizens and sided with the government of Prime Minister Mariano Rajoy when he addressed the Spanish population a day earlier. The king had said the referendum, in which a reported 90% of 2.26 million voters cast ballots in favor of independence, was a blow not only to Spanish unity but sovereignty. Carles Puigdemont, the regional leader, reportedly said in his televised address that voters should know their wishes would be heeded in due course. He did not, observers noted, explicitly call for separation and said he remains open to mediation, according to a reporter with the Madrid newspaper El Mundo.

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

Immunogen Inc. shares fell in the extended session Wednesday after the biotech company announced a secondary offering of shares. Immunogen shares fell 10% to $7.05 after hours. The company said it plans to offer 13 million shares, and provide underwriters with up to 2 million shares to cover overallotments. Jefferies, Leerink Partners and RBC Capital Markets are listed as underwriters. Immunogen intends to use proceeds to finance research and development, clinical trials and for other corporate purposes. Immunogen has 115.5 million shares outstanding.

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

Stocks saw a modest rise Wednesday, with major benchmarks notching the latest in a series of record finishes after a round of strong economic data. The S&P 500 rose 0.1% to end near 2,537.74, while the Nasdaq Composite eked out a gain of less than 0.1% to finish around 6,534.63. The Dow industrials rose by around 20 points, or 0.1%, to finish near 22,662. Stocks rose after a positive reading on U.S. service sector activity in the Institute for Supply Management’s nonmanufacturing index.

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

A tropical depression has formed over the western Caribbean and could strengthen to a hurricane and affect the northern Gulf Coast this weekend, the National Hurricane Center said in an advisory. The depression is expected to bring tropical storm conditions and heavy rain to parts of Nicaragua and Honduras later Wednesday and into Thursday. “The system is forecast to continue strengthening over the Gulf of Mexico and could affect portions of the northern Gulf Coast as a hurricane this weekend, with direct impacts from wind, storm surge, and heavy rainfall,” said the NHC. “However, it is too early to specify the timing or magnitude of these impacts.” The storm will be named “Nate” as soon as it reaches tropical storm status.

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

A tropical depression has formed over the western Caribbean and could strengthen to a hurricane and affect the northern Gulf Coast this weekend, the National Hurricane Center said in an advisory. The depression is expected to bring tropical storm conditions and heavy rain to parts of Nicaragua and Honduras later Wednesday and into Thursday. “The system is forecast to continue strengthening over the Gulf of Mexico and could affect portions of the northern Gulf Coast as a hurricane this weekend, with direct impacts from wind, storm surge, and heavy rainfall,” said the NHC. “However, it is too early to specify the timing or magnitude of these impacts.” The storm will be named “Nate” as soon as it reaches tropical storm status.

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 prices fell Wednesday for a third-straight session, settling at their lowest level in more than two weeks. Prices saw volatile trading as the market weighed recent data showing a rise in output among producers who take part in the OPEC-led production-cut agreement, as well as speculation of a potential extension of the deal beyond the first quarter of next year. A U.S. government report released Wednesday, meanwhile, showed a much bigger-than-expected weekly drop in crude supplies along with a rise in gasoline stockpiles. November WTI crude fell 44 cents, or 0.9%, to settle at $49.98 a barrel on the New York Mercantile Exchange. That’s the lowest settlement and first finish below the $50 mark since Sept. 19, according to FactSet 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.

…read more

From:: Stock Market News

Although the Dow Jones Industrial Average and S&P 500 cling to positive territory, internal readings of the broader market of stocks have already turned negative. The number of declining stock outnumbered advancers by a 1,510-to-1,281 score on the NYSE and by a 1,406-to-1,278 margin on the Nasdaq exchange. Declining volume represented 53% of total volume on the Big Board and 48% of total volume on the Nasdaq. Meanwhile, the Dow was up 26 points, or 0.1%, with 16 of 30 components trading higher. The S&P 500 was up 0.1%, while the Nasdaq Composite eased 0.1%.

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

General Electric Co.’s stock fell 1.2% in afternoon trade, reversing earlier gains of as much as 1.4%, to lead the losers among Dow Jones Industrial Average components. Volume was light, however, with the 18.1 million shares traded representing just 42% of the full-day average. And given GE’s stock is the lowest priced in the Dow, the 27-cent price decline was shaving just 2 points off the Dow’s price, which was up 19 points. Late Monday, GE disclosed in a filing with the Securities and Exchange Commission that Jeffrey Immelt, who retired as CEO on July 31, also retired as chairman on Monday, nearly three months earlier than originally planned. The company elected CEO John Flannery as chairman. When GE originally announced in June that Immelt was retiring, GE said he would retire as chairman effective Dec. 31. He decided to retire early because the CEO transition had “proceeded smoothly” and that Flannery was ready to succeed him as chairman. GE’s stock has tumbled 10.7% over the past three months, while the Dow has gained 5.5%.

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.

…read more

From:: Stock Market News

The Dow Jones Industrial Average saw its gains firm on Wednesday after Secretary of State Rex Tillerson addressed reports that he was on the verge of leaving President Donald Trump’s administration and referred to POTUS as a “moron.” In a news conference at around 11 a.m. Eastern on Wednesday, Tillerson, a former head of Exxon Mobil Corp. , rebutted a report from NBC News, citing multiple senior administration officials, that claimed that he thought ill of the president and considered resigning. Tillerson reaffirmed his commitment to Trump in his conference, however, he didn’t appear to outright deny the claim that he called Trump a name, saying that it was “petty nonsense” to entertain those accusations. Most recently, the Dow was up 0.1% at 22,662, while the S&P 500 index was up about a point, or less than 0.1%, at 2,535, hitting an intraday record earlier. The Nasdaq Composite Index was trading 0.1% lower at 6,522. All three benchmarks closed at all-time highs on Tuesday and have been bolstered by hope that a pro-market tax proposal will be passed in Congress.

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

GoPro Inc. stock dropped suddenly Tuesday as Alphabet Inc.’s Google introduced a new clip-on, stand-alone camera that could challenge GoPro’s core hardware. Google Clips is a small camera that costs $249, while the new camera GoPro introduced last month starts at $499. GoPro shares dropped more than 5% in the minutes after Google introduced the new product, after previously being close to break-even on the day. Google also introduced new Home smart speakers and Pixel smartphones at the event in San Francisco.

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