Category: Stock Market News

Little Rock, Ark., police chief Kenton Buckner said Saturday afternoon that of the 28 people injured in a shooting incident in the predawn hours at the Power Ultra Lounge, 25 had been shot, and two remained in critical condition. A dispute in the audience at a late-night music event precipitated the shooting, Buckner said, dismissing the possibility of any terrorism connection. Mayor Mark Stodola said action needs to be taken to keep guns out of the wrong hands. He said the lounge, located about a mile from the Arkansas state capital in downtown Little Rock, has had its liquor license suspended and would be shut down.

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The Indiana Pacers have agreed to trade forward Paul George to the Oklahoma City Thunder, according to an ESPN report late Friday. The deal would see George, the Pacers’s All-Star, team up with the 2017 MVP Russell Westbrook. According to reports, the Thunder will trade acquire 6’4″ shooting guard Victor Oladipo, and 6’11” power forward Domantas Sabonis.

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From:: Stock Market News

The Indiana Pacers have agreed to trade forward Paul George to the Oklahoma City Thunder, according to an ESPN report late Friday. The deal would see George, the Pacers’s All-Star, team up with the 2017 MVP Russell Westbrook. According to reports, the Thunder will trade acquire 6’4″ shooting guard Victor Oladipo, and 6’11” power forward Domantas Sabonis.

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Redfin Corp. on Friday filed with the Securities and Exchange Commission to raise up to $100 million in an initial public offering. The online real estate broker said the sale could take place “as soon as practicable” following the regulatory filing. In the first three months of the year, the company recorded a loss of $28.1 million and revenue of $59.9 million. The underwriters for the deal are Goldman Sachs & Co., Allen & Co., Bank of America Merrill Lynch, RBC Capital Markets, Oppenheimer & Co. and Stifel. Redfin will trade on Nasdaq under the ticker symbol RDFN.

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U.S. stocks closed modestly higher Friday after trimming gains in the last few minutes of trading. But steep losses in technology and health-cares stocks earlier in the week resulted in poor weekly performance for the S&P 500 and Nasdaq. The S&P 500 rose 3.71 points, or 0.2%, to 2,423.41, but ended the week 0.6% lower. Over the month, the large-cap index gained 0.5% and advanced by 2.6% over the past quarter. The index is up 8.2% year to date, its best half-year performance since 2013. The Dow Jones Industrial Average advanced 62.60 points, or 0.3%, to 21,349.63, ending the week 0.2% lower. The blue-chip index gained 1.6% over the month, 3.3% over the quarter and 8% over the first half of the year. The Nasdaq Composite index reversed earlier gains to close 3.93 points, or 0.1%, lower at 6,140.42. The tech-heavy index booked a 2% weekly and 0.9% monthly loss after recent selloffs in technology stocks. Among biggest gainers this week, Nike Inc. rallied 11.6%, much of the gains coming on Friday.

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CHICAGO (MarketWatch) — A penny-an-ounce tax on sweetened soft drinks sold in Chicago and surrounding Cook County suburbs was put on ice by a judge’s decision Friday, the Chicago Tribune reports. The tax had been slated to take effect Saturday.

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The Nasdaq Composite was up 0.2% Friday, but was still down 1.7% on the week, which means it has now spent five weeks stalled out below key chart resistance, according ICAP-Technical Analysis’s Walter Zimmerman. Based on Elliott Wave counts, he pegs “pivotal resistance” at 6,280, which is 2% above current levels. If the Nasdaq falls below 6,030–2% below current levels–it would open up the downside to 5,840, which Zimmerman says is “must hold support” to preserve the longer-term uptrend. The Nasdaq has now lost 2.6% since the June 8 record close of 6,321.77. Separately, Zimmerman said the Dow Jones Industrial Average has now spent two weeks stalled out below “pivotal resistance” at 21,470.72, which is about 70 points, or 0.4% above current levels.

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Multiple people have been shot at Bronx Lebanon Hospital in New York City, according to numerous reports. Shots were reported at around 3 p.m. Eastern Time near the hospital at 173rd Street and Grand Concourse in the Mt. Eden section of the Bronx, according to CBS News. The NYPD tweeted that they were responding to a “shooting incident,” and warning people to avoid the area around 1650 Grand Concourse. Recent reports, including on CNN, indicated that a manhunt was under way for a suspect. This is a developing story, so please return for further details.

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From:: Stock Market News

A shooting has occurred at Bronx Lebanon Hospital in New York City, according to numerous reports. Shots were reported at around 3 p.m. Eastern Time near the hospital at 173rd Street and Grand Concourse in the Mt. Eden section of the Bronx, according to CBS News. The NYPD tweeted that they were responding to a “shooting incident,” and warning people to avoid the area around 1650 Grand Concourse. This is a developing story, so please return for further details.

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Oil prices settled higher Friday, with a sharp gain in the last few minutes of trading lifting them above $46 a barrel for the first time in more than two weeks. Data from Baker Hughes [s:bhi] released Friday showed the first decline in the number of active U.S. oil rigs in 24 weeks, raising expectations that domestic production will slow. August WTI crude tacked on $1.11, or 2.5%, to settle $46.04 a barrel on the New York Mercantile Exchange. Year to date, prices have still lost more than 14%.

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From:: Stock Market News