Tag: stock market

An Amtrak train carrying more than 140 people derailed early Monday morning about 20 miles west of Dodge City in Kansas, the train operator said in a statement. The train with approximately 128 passengers and 14 crew members was travelling from Los Angeles to Chicago when five cars derailed just after midnight Central Daylight Time, according to media reports. Several people were injured and taken to the hospital, the reports said, but Amtrak said there were no life-threatening injuries.

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A rally for Donald Trump in Chicago was cancelled late Friday because of safety concerns, according to published reports. Supporters and protesters engaged in verbal confrontations at the University of Illinois at Chicago Pavilion ahead of the cancellation, AP reported. Rallies for the Republican presidential front-runner have seen incidents of violence and arrests in recent days.

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Standard & Poor’s Ratings Services on Friday upgraded Ford Motor Co.’s credit rating by one notch to ‘BBB’ from ‘BBB-‘. “The upgrade reflects our view that Ford remains well positioned to sustain the recent improvement in its operating margins over the next two years,” said S&P’s credit analyst Nishit Madlani in a statement. Madlani also expects the strong global automotive industry to continue supporting Ford’s business in North America and overseas, except in South America. The outlook on the rating is stable. Ford shares rose 1.1% to close at $13.29 on Friday.

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Boeing Co. Chief Technology Officer and vice president of engineering John Tracy will retire this summer, the airplane maker said late Friday. Tracy will begin transitioning his duties next month to newly designated executives who will report directly to Boeing’s Chief Executive Dennis Muilenburg, the company said. Effective April 4, Chief Information Officer Ted Colbert will also be senior vice president of information and analytics; Scott Fancher, Greg Hyslop, and Pat Shanahan are appointed senior vice presidents of, respectively, program management and integration, engineering and technology, and supplies and operations, the company said. Shares of Boeing fell 0.2% in late trading after ending the regular session up 1.4%.

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U.S. stocks finished higher Friday, clinching their fourth straight weekly gain and highest close of the year, as crude oil prices rallied and worries about slowing global growth faded. The S&P 500 closed 32.49 points, or 1.6%, higher at 2,022.09 The Dow industrials finished 217.64 points, or 1.3%, higher at 17,212.77, led by Pfizer Inc.[ and E. I. du Ponte de Nemours and Company. The Nasdaq Composite finished 86.31 points, or 1.9%, higher at 4,748.47.

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Oil futures settled higher Friday to score a 7.2% gain for the week. A report from the International Energy Agency suggested that a bottom may be in place for oil prices. April West Texas Intermediate crude rose 66 cents, or 1.7%, to settle at $38.50 a barrel on the New York Mercantile Exchange. That was the highest settlement since early December, according to FactSet data. The weekly gain was WTI’s fourth in a row.

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Gold futures fell on Friday to finish the week with a loss of roughly 0.9%. Strength in the U.S. stock market and gains for oil prices and the dollar dulled investor interest in the metal. April gold declined by $13.40, or 1.1%, to settle at $1,259.40 an ounce.

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Oil prices held onto their gains after data Friday from Baker Hughes showed that the number of total active U.S. oil rigs dropped to the lowest weekly level. The total U.S. rig count fell 9 to 480 as of Friday. The previous record low was at 488 rigs on April 23, 1999, according to Baker Hughes. The number of active U.S. oil-drilling rigs fell for a 12th week in a row, down by 6 to 386. April crude was at $38.74 a barrel on the New York Mercantile Exchange, up 90 cents, or 2.4%. It was trading at $38.60 before the data.

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Shares of KLR Energy Acquisition Corp. , a special purpose acquisition entity to acquire oil and gas assets, were trading at $10.02, above its initial public offering issue price of $10 a share. The company offered 8 million shares to raise up to $80,000,000. The company had previously said it would offer 13 million shares to raise $130 million. The stock is expected to trade Friday on the Nasdaq under the symbol “KLREU.”EarlyBird Capital is the sole underwriter of the offering.

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Ford Motor Co. said Friday it is creating a subsidiary to develop and invest in mobility services, as part of its strategy of becoming a car and mobility company. Jim Hackett, a former chief executive of Steelcase, will leave his position on the Ford board to head up the new unit, which will be called Ford Smart Mobility LLC, Ford said in a statement. The company estimates that the transportation services market is worth about $5.4 trillion in annual revenue. The new unit will work on connectivity, mobility, autonomous vehicles, the customer experience and data and analytics, said the statement. Ford shares were trading up 0.7%, but are down about 16% in the last 12 months, while the S&P 500 has lost 1.5%.

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