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President Donald Trump said Friday he’s signed a $1.3 trillion spending bill to fund the government through Sept. 30, after previously threatening to veto it. Trump said he was unhappy with things including the limited duration of time the bill was public. He also blamed Democrats for the bill not including a fix for the Deferred Action for Childhood Arrivals program — something Trump ordered an end to. Trump said he signed the bill as a matter of national security, to provide an increase in military funding.

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Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by four to 804 this week. The oil-rig count had also climbed by four last week. The total active U.S. rig count, which includes oil and natural-gas rigs, also climbed by five to 995, according to Baker Hughes. May West Texas Intermediate crude was up $1.06, or 1.7%, from Thursday, to $65.36 a barrel, little changed from shortly before the rig data.

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President Donald Trump announced a 1 p.m. Eastern news conference on a spending bill he said earlier Friday he is thinking of vetoing. Trump didn’t say if he will give the news conference himself, or if it is the previously scheduled one by press secretary Sarah Sanders. The White House’s video page, however, says Trump will participate “in a bill signing.”

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Square Inc. shares are down 5.7% in Friday’s session after Craig Hallum Capital group analyst Brad Berning downgraded the stock to sell. “Competition is tired of Square winning and they are bringing scale, lower pricing, and functionality,” Berning wrote, singling out First Data Corp. and its Clover product. “Any transactions over $10 or $15 will mostly likely be cheaper to use First Data’s Clover over Square.” VeriFone Systems Inc. is also working on a similar payment-processing product. Berning joins analysts from Morningstar and BTIG as the lone Square bears. Of the 34 analysts who cover the stock, according to FactSet, 17 rate it a buy, 14 rate it a hold, and 3 call it a sell. Earlier, analysts from Mizuho raised their price target on shares and cited the company’s coffee-discount program for Square Cash users. Square shares are up 211% over the past 12 months, while the S&P 500 is up 12%.

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Boeing Co. said Friday it received an order for two 777 freighters valued at $678 million from Japan-based air carrier All Nippon Airways (ANA). Boeing’s stock surged 2.2% in midday trade, after tumbling 5.2% to close Thursday at the lowest level since Jan. 9 amid a broad-market selloff. ANA already operates 777 passenger jets, and has grown its cargo operation from Boeing’s medium-sized 767 freighter. “We are honored that a world-class operator such as ANA has decided to grow their cargo business with the 777 Freighter,” said Ihssane Mounir, senior vice president of commercial sales and marketing at Boeing. Boeing’s stock has now rallied 10.6% over the past three months, while the Dow Jones Industrial Average has slipped 3.2%.

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The Nasdaq Composite Index was fighting to stay above its 100=day moving average, as the stock market took a firmer turn lower in Friday afternoon trade. The technology-laden benchmark was recently down 0.7% at 7,114, which is about 31 points above its 100-day moving average at 7,083.35, according to FactSet data. A break below that level, which it hasn’t breached since Feb. 9, is viewed as a bearish sign. Market technicians use moving averages to help assess long-term and short-term momentum in an asset. The Nasdaq fell more than 2% yesterday and the Dow Jones Industrial Average tumbled more than 700 points in a broad rout of equities amid heightened concerns about the fallout of recently announced tariffs on China imports. The index is still well above its 200-day MA at 6,726,53. Wall Street has viewed tariffs as a risk to U.S. economic expansion, which has been growing since the second quarter of 2009. The Nasdaq has been an outperformer among its equity benchmarks so far this year, with the index up 3%, compared with a 3.4% year-to-date loss for the Dow Jones Industrial Average and a decline of 1.6% for the S&P 500 index .

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Former U.S. Senator Zell Miller of Georgia died on Thursday at the age of 86. The ex-Marine was a moderate Democrat as the state’s governor, but he sided more with Republicans toward the end of his career and spoke on behalf of President George W. Bush at the Republican convention in 2004. He accused his own party of a sharp turn to the left that he said was alienating many lifelong Democrats.

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Dropbox Inc.’s stock debuted at $29 on the Nasdaq, or 38% above the $21 initial-public-offering price. The first trade was executed at 11:35 a.m. ET, for 7,792,534 shares. The cloud-storage company’s IPO priced late Thursday above the expected range of $18 to $20 a share, to raise $756 million, before options granted to underwriters. The stock was last up 44% at $30.18, giving the company a $10.24 billion market capitalization. The stock has traded in a range of $28.80 to $31.00 since the open. Dropbox’s IPO comes at a time when the Renaissance IPO ETF has gained 2.2% over the past three months and the S&P 500 has lost 1.5%.

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H. Wayne Huizenga, the billionaire South Florida businessman who once owned several Florida-based professional sports teams and founded a trio of well-known companies, has died at the age of 80, according to several reports. Huizenga is credited with founding Blockbuster LLC, the now-defunct, video-rental chain, as well as Waste Management and AutoNation Inc. . Huizenga also was, at one point, owner of the Miami Dolphins and Florida Marlins (now Miami Marlins). His net worth was $2.8 billion, according to Forbes.

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

H. Wayne Huizenga, the billionaire South Florida businessman who once owned several Florida-based professional sports teams and founded a trio of well-known companies, has died at the age of 80, according to several reports. Huizenga is credited with founding Blockbuster LLC, the now-defunct, video-rental chain, as well as Waste Management and AutoNation Inc. . Huizenga also was, at one point, owner of the Miami Dolphins and Florida Marlins (now Miami Marlins). His net worth was $2.8 billion, according to Forbes.

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