Category: Stock Market News

A Nevada parole board has begun deliberating over the early release of former football star and celebrity O.J. Simpson from Lovelock Correctional Center. The 70-year-old Simpson said during his parole hearing that he has “lived a conflict free” life since being convicted in 2008 of an armed robbery to regain sports memorabilia linked to the ex-athlete. The parole board is expected to deliberate for about 20 or 30 minutes, according to reports. If approved, he could be released from the correctional facility as early as October after about nine years in prison. Simpson, along with other men that he enlisted, tried to retrieve sports items that he claims were stolen from him. In 1994, Simpson was found not guilty in the 1994 murder of ex-wife Nicole Brown Simpson and Ronald Goldman. He later lost a civil suit related to that matter. That case has been the subject of a number of documentaries and movies.

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Oil finished lower Thursday, pulling back after a bigger-than-expected weekly drop in U.S. crude supplies sent prices to a six-week high a day earlier. Traders continued to fret over rising output from the U.S., Libya and Nigeria, ahead of a meeting of major oil producers set for Monday in Russia. August WTI crude , which expired at the day’s settlement, lost 33 cents, or 0.7%, to settle $46.79 a barrel on the New York Mercantile Exchange. September WTI oil, the new front-month contract, settled at $46.92, down 40 cents, or 0.9%.

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The U.S. Food and Drug Administration said Thursday it has approved the first magnetic resonance imaging (MRI) device for neonatal brain and head imaging that can be used in neonatal intensive care units. “Although we can use traditional MRI scanners to image neonates, taking babies outside of the neonatal intensive care unit to MRI suites presents great challenges,” said Vasum Peiris, chief medical officer for the pediatrics and special populations at FDA’s Center for Devices and Radiological Health. “Having a system in the neonatal intensive care enables safer imaging for this vulnerable patient population.” The approval was granted to the private company Aspect Imaging Ltd.

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The revised Senate bill to repeal and replace Obamacare would result in 22 million more people being uninsured in 2026, according to the Congressional Budget Office. That is the same number as a prior analysis. The bill would cut deficits by $420 billion over 10 years, the CBO also said. The score does not analyze the so-called Cruz amendment, which a separate analysis said would result in deductibles as high as $12,000.

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Shares of Calyxt Inc. were soaring 12% Thursday in the gene-editing company’s debut on the Nasdaq. The company priced at $8 a share, the low-end of an already reduced price range, but shares were climbing above that Thursday, trading around $10.77. The company sold 7 million shares, an increased number of shares from previous IPO terms, to raise $56 million. Citigroup, Jefferies and Wells Fargo Securities were the lead underwriters on the offering.

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The Dow Jones Industrial Average on Thursday was being chopped lower by sharp declines in a duo of components: Home Depot Inc. and Travelers Cos. Inc. . The pair were exacting a 63-point toll on the price-weighted Dow industrials . Home Depot’s shares alone were off 4.4%, and cutting 46 points from the blue chips, with shares of Travelers yanking the Dow down by about 17 points. The reasons for Home Depot’s decline was unclear, but it comes as embattled Sears Holdings Corp. soared 18% after announcing an agreement to sell its signature Kenmore appliances on Amazon.com Inc. . Wall Street investors may view that agreement as a direct challenge to Home Depot and other brick-and-mortar retailers, which sell similar home-consumer products. Meanwhile, Travelers shares were lower after it reported disappointing second-quarter results. The Dow was trading off 0.3% at 21,587, after notching a record on Wednesday. Overall, the S&P 500 index was trading 0.1% lower at 2,470, after touching a fresh intraday record at the open, while the Nasdaq Composite Index was cooling, trading down by about 0.1% at 6,380, following its own climb to a fresh all-time intraday high in early Thursday trade. All of the main U.S. equity indexes closed at records Wednesday.

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Elon Musk’s The Boring Company has received verbal government approval to build an underground hyperloop that would bring a passenger from New York to Washington D.C. in 29 minutes, the Tesla Inc. founder tweeted Thursday. The loop would run between New York, Philadelphia, Baltimore and Washington D.C., he tweeted. The Boring Company is an infrastructure and tunneling company that Musk founded in 2016 with the goal of building transportation tunnels to cut down on commute times. The company is already building a tunnel loop from Los Angeles International Airport to Culver City, Santa Monica, Westwood and then Sherman Oaks.

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Exxon Mobil was fined $2 million by the Treasury Department for violating Ukraine-related sanctions – when the company’s CEO was Rex Tillerson, now the U.S. secretary of state. The Office of Foreign Assets Control said the presidents of its U.S. subsidaries signed legal contracts with Igor Sechin, the president of Rosneft. Exxon says the fine was “fundamentally unfair” and that it followed the “clear guidance” from the White House and Treasury Department because the activity related to Rosneft’s business and not Sechin’s personal business. (Updates to include Exxon’s reaction.)

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Special Counsel Robert Mueller is investigating a broad range of transactions involving President Trump’s businesses as well as those of his associates, Bloomberg News reported, citing a person familiar with the probe. Trump told the New York Times on Wednesday that it would be out of bounds for Mueller to look beyond the allegations of Russian involvement in U.S. elections. The Bloomberg report said FBI investigators are looking at business activity including Russian purchases of apartments in Trump buildings, the 2013 Miss Universe pageant in Moscow and Trump’s sale of a Florida mansion to a Russian oligarch in 2008.

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The euro rose sharply against the dollar on Thursday, breaking above the $1.16 level and trading at its highest since August 2015 following comments from European Central Bank President Mario Draghi. Against the dollar, the euro hit a peak of $1.1631, and last traded at $1.1618 from $1.1515, a move of 0.9%. In a news conference, Draghi reiterated the ECB’s plan to buy 60 billion euros of government bonds and other assets each month through December, “or beyond, if necessary.” He also left interest rates unchanged, as had been widely expected. With the day’s move, the euro extended its strong year-to-date performance, rising 10.4% for 2017 thus far.

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