What’s new

The Obama administration said that initial analysis by the U.S. is “not consistent with” claims by North Korea that it successfully tested a hydrogen bomb. Reports of a test unnerved global investors Wednesday and helped send U.S. stocks lower. White House press secretary Josh Earnest told reporters the U.S. is learning more about the reported test and that any nuclear test would break U.N. Security Council resolutions.

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

Wegmans Food Markets Inc. is recalling about 1,125 pounds of chicken products that were made without federal inspection, said the Department of Agriculture’s Food Safety and Inspection Service (FSIS) in a press release published Wednesday. The items, which include Wegmans Italian Flavored Chicken Breast Cutlet, Wegmans Brown Sugar Barbecue Seasoned Chicken Breast Cutlet, Wegmans Garlic & Fennel Whole Chicken Roaster and Wokery Sherry Chicken, were produced on Jan. 3, 2016 and were shipped to distribution and retail locations in Maryland, Massachusetts, New Jersey, Pennsylvania, New York and Virginia. Customers are advised not to consume the items, but return them to the place of purchase for a full refund. There have been no reported illnesses, according to FSIS. On Tuesday, Minnesota-based Huisken Meat Co. recalled about 89,568 pounds of beef products that may have been contaminated with wood material, FSIS said. The Sam’s Choice Black Angus Vidalia Onion items were made between Nov. 19, 2015 and Dec. 9, 2015. There have been no reports of illness, but consumers are advised to throw them away or return them to the place of purchase.

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 Securities and Exchange Commission reached a $4 million settlement with J.P. Morgan’s brokerage business based on allegations the bank made false and misleading statements about broker compensation from 2009 to 2012. The SEC said J.P. Morgan falsely stated on its private banking website and in marketing materials that advisers are compensated “based on our clients’ performance; no one is paid on commission.” Compensation was not based on client performance but instead consisted of a salary and a discretionary bonus based on several other factors. It wasn’t until May 2012 – more than three years after it was first made – that the misstatement was corrected by J.P. Morgan in some marketing materials. The bank neither admitted nor denied the allegations.

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 below $35 a barrel on Wednesday after the U.S. Energy Information Administration reported that crude supplies dropped, but supplies of gasoline jumped last week. Crude inventories dropped by 5.1 million barrels for the week ended Jan. 1. The American Petroleum Institute on Tuesday reported a 5.6 million-barrel decline, according to sources. Analysts polled by Platts expected supplies to be up 2.75 million barrels. Gasoline supplies dropped 10.6 million barrels, while distillate stockpiles fell 6.3 million barrels last week, according to the EIA. February crude traded at $34.74 a barrel on the New York Mercantile Exchange, down $1.23, or 3.4%. Prices traded at $35 before the 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

U.S. stocks opened sharply lower on Wednesday, with the Dow industrials dropping more than 250 basis points after the opening bell, as geopolitical concerns overseas weighed on risk sentiment. North Korea’s announcement that it had successfully detonated a hydrogen bomb late Tuesday rattled markets, while a continuing retreat in oil prices pulled down the energy sector. The Dow Jones Industrial Average was down 226 points, or 1.3%, to trade at 16,930 after the opening bell, while the S&P 500 index declined 26 points, or 1.3%, to trade at 1,990. Meanwhile, the Nasdaq Composite index dropped 63 points, or 1.3%, to trade at 4,829. The S&P’s energy sector was the worst performer on the index, down 2.3%.

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