Tag: stock market

“Black Panther” continues to break advanced ticket sales records. Online ticket retailer Fandango, majority owned by Comcast Corp.’s NBCUniversal, said on Wednesday that the Walt Disney Co. film from Marvel Studios is now outpacing presale tickets of all other first-quarter film releases in Fandango’s 18-year history. “Black Panther” is on track to surpass previous January to March presale record holders “The Hunger Games,” which went on to gross $694.4 million worldwide in 2012, and “Beauty and the Beast,” which was last year’s second highest grossing film domestically. Fandango had previously said “Black Panther” was also outpacing all other superhero films in advance ticket sales. “It’s not just a superhero movie, it’s a ground-breaking cultural event,” said Fandango managing editor Erik Davis in a statement. “It is hands down the first major movie event of 2018. We’re also seeing increased interest from larger groups of ticket-buyers looking to celebrate next weekend’s historic release.” Analysts at Box Office Pro expect “Black Panther” to bring in $139 million in its opening weekend and some forecasts are closer to $200 million. Shares of Disney are down 3% in the last 12 months, while the S&P 500 index is up more than 18% and the Dow Jones Industrial Average is up more than 25%.

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 Justice Department said it’s indicted 36 people for their alleged role in an internet-based cybercriminal enterprise engaged in the large-scale acquisition, sale, and dissemination of stolen identities, compromised debit and credit cards, personally identifiable information, financial and banking information, computer malware, and other contraband. It said 13 people were arrested in the U.S., Australia, the U.K., France, Italy, Kosovo and Serbia. Its members allegedly caused more than $530 million in actual losses to consumers, businesses, and financial institutions, the Justice Department said. The group was called the Infraud Organization and had a slogan, “In Fraud We Trust,” the government said.

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

Amazon.com Inc.’s stock surged 0.8% in midday trade Wednesday, to lift its market value above Microsoft Corp. for the first time, according to data provided by WSJ Market Data Group. With a market capitalization of $704.38 billion, Amazon is now the third move valuable U.S. company, just above 4th-place Microsoft at $701.91 billion. Next up for Amazon is Google parent Alphabet Inc. , which is second with a $746.90 billion market cap. If Alphabet’s stock remained unchanged, it would take a further 6.0% rally in Amazon’s stock to catch it, according to FactSet data. Amazon is still far from 1st-place Apple Inc. , which is valued at $819.71 billion.

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 has bounced enough to clear two short-term positive technical hurdles on an intraday basis, is approaching a third. The Dow is up 237 points in morning trade Wednesday, and is now up 1,371 points from Tuesday’s intraday low of 23,778.74. That takes the Dow above its 50-day moving average (25,091.03), which many chart watchers use to define the short-term trend. On Monday, when the Dow plunged a record 1,175 points, it closed below the 50-day MA for the first time since May 18, 2017. Separately, the Dow has cleared the first 38.2% Fibonacci retracement level, of the decline from the Jan. 26 record intraday high of 26,616.71 to Tuesday’s low, which came in at 24,862.84. The next key Fibo level is a 50% retracement, which comes in at 25,197.73. The Fibonacci levels are based on the mathematical ratio of 0.618, also known as the “Golden Ratio.” Fibonacci followers believe if a charted instrument retraces more than 61.8% of a move, which would come in at 25,532.61 for the Dow, it becomes a new move, with a minimum target of a full retracement of the previous move.

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 recent drop in the stock market wasn’t big enough to alter the economic outlook, said New York Fed President William Dudley on Wednesday. “Having a bump up like this has virtually no consequence on my view of the economic outlook,” Dudley said during a moderated discussion, according to Bloomberg. Last month, Dudley said the prospects for continued growth in 2018 look “reasonably bright.”

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 turned lower Wednesday after the U.S. Energy Information Administration reported that domestic crude supplies rose 1.9 million barrels for the week ended Feb. 2. Analysts surveyed by S&P Global Platts had forecast a climb of 2.8 million barrels, but the American Petroleum Institute on Tuesday reported a decline of 1.1 million barrels, according to sources. Gasoline stockpiles climbed by 3.4 million barrels for the week, while distillate stockpiles also rose 3.9 million barrels, according to the EIA. The S&P Global Platts survey forecast a supply rise of 200,000 barrels for gasoline and a fall of 800,000 barrels for distillates. March crude fell 25 cents, or 0.4%, to $63.14 a barrel on the New York Mercantile Exchange, down from $63.67 before the supply 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

Dunkin’ Brands Group Inc. said Wednesday that it will get rid of polystyrene foam cups globally by 2020. In the U.S., the cups will be replaced by double-walled paper cups, which are already being used in the concept store that opened in January in Quincy, Mass. Next, the cups will be introduced in New York City and California in spring 2018, then rolled out nationwide. Most international locations are using paper cups. The company said it will work with its franchisees to make the change. The announcement complements a previous goal to have 80% of fiber-based consumer-facing packaging certified to the Sustainable Forestry Initiative Standard in the U.S. by the end of the year. Dunkin’ has more than 9,000 restaurants in the U.S. Shares of the company are down 0.5% in Wednesday trading, but up 16.6% for the last year. The S&P 500 index is up 18.3% for the past 12 months.

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

President Donald Trump said Wednesday there’s “great” news about the economy, as he commented on recent volatility in the stock market. “In the ‘old days’ when good news was reported the Stock Market would go up,” Trump said in a tweet. “Today when good news is reported the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!” The Dow Jones Industrial Average was up more than 200 points Wednesday after opening lower.

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

President Donald Trump said Wednesday there’s “great” news about the economy, as he commented on recent volatility in the stock market. “In the ‘old days’ when good news was reported the Stock Market would go up,” Trump said in a tweet. “Today when good news is reported the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!” The Dow Jones Industrial Average was up more than 200 points Wednesday after opening lower.

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 on Wednesday opened lower but turned higher within minutes, underlining a new regime of up-down-trade likely to be the new normal in the market. Investors remain tentative about the stability of the market after a recent spate of volatility appeared to sap the unabashed zest for purchasing equities that has helped push equity prices to repeated records. The Dow Jones Industrial Average fell more than 100 points, but was most recently up 123 points, or 0.4%, at 25,036, while the S&P 500 index advanced 11 points, or 0.4%, at 2,705, while the Nasdaq Composite Index , retreated less than a point, or at 7,116. After a period of calm, volatility has become the new normal on Wall Street, with the Cboe Global Markets Inc. , which reflects options bets 30-days into the future on the S&P 500, off 5.1%, at 28.44. The index tends to fall as stocks rise and had spiked to a high around 50, well above its historical average around 20, as markets plunged on Monday. Tuesday’s action was marked by wild pricing swings, with the Dow spanning 1,000 points to end the day up 567 points. Shares of Tronc Inc. soared after reports that it sold The Los Angeles Times to billionaire Patrick Soon-Shiong for around $500 million.

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