Tag: stock market

The “Mother of All Bombs” dropped by the U.S. military in Afghanistan killed 36 Islamic State group members, Afghan officials said, according to media reports Friday. No civilians were hurt and several ISIS ammunition caches were destroyed in the Thursday attack, the Afghan defense ministry said. The U.S. Air Force targeted an ISIS tunnel network with the 21,000-pound MOAB, the largest nonnuclear bomb.

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Apple Inc. is considering joining iPhone manufacturer Foxconn in a bid to buy Toshiba Corp.’s memory chip business, according to a report by Japan’s NHK early Friday. NHK said Apple may invest several billion dollars and is seeking more than a 20% stake. Foxconn , also known as Hon Hai Precision Industry Co., would take a 30% stake, and Toshiba would maintain a partial stake, the report said. Toshiba is trying to sell its chip business to raise cash after massive cost overruns from its U.S. nuclear power unit, Westinghouse, which filed for bankruptcy last month. The Apple report helped Toshiba stock rebound; after being down 8.1% early Friday, it was down just 2.8% by the afternoon, according to Dow Jones.

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General Motors Co. plans to invest $14 million and create more than a thousand jobs in a California facility to advance its self-driving car interests, according to reports late Thursday. GM intends to make that investment in Cruise Automation, which it acquired last year for $1 billion, with plans to add more than 1,100 jobs over the next five years, according to Reuters. Under the plan, GM will get $8 million in state tax credits. Shares of GM were down less than 0.1% at $33.38 after hours.

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Omega Healthcare Investors Inc.’s board raised the company’s quarterly dividend by a penny to 63 cents a share, the real estate investment trust said late Thursday. The dividend will be payable on May 15 to stockholders of record as of the close of business on May 1.

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U.S. stocks slid for a third session on Thursday as weak oil weighed on the energy sector while financial shares fell following earnings from major banks. The deployment of the Massive Ordnance Air Blast bomb, known as “bunker buster,” on an ISIS complex in Afghanistan also heightened investors’ concerns about geopolitical uncertainties. The S&P 500 dropped 15 points, or 0.7%, to close at 2,328, down for 1.1% for the week. The Dow Jones Industrial Average shed 138 points, or 0.3%, to end at 20,453, closing out the week 1% lower. The Nasdaq Composite Index declined 31 points, or 0.5%, to close at 5,805 for a weekly fall of 1.2%. The market is closed on Good Friday and will resume trading on Monday.

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From:: Stock Market News

U.S. stocks slid for a third session on Thursday as weak oil weighed on the energy sector while financial shares fell following earnings from major banks. The deployment of the Massive Ordnance Air Blast bomb, known as “bunker buster,” on an ISIS complex in Afghanistan also heightened investors’ concerns about geopolitical uncertainties. The S&P 500 dropped 15 points, or 0.7%, to close at 2,328, down for 1.1% for the week. The Dow Jones Industrial Average shed 138 points, or 0.3%, to end at 20,453, closing out the week 1% lower. The Nasdaq Composite Index declined 31 points, or 0.5%, to close at 5,805 for a weekly fall of 1.2%. The market is closed on Good Friday and will resume trading on Monday.

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Oil futures tallied a slight gain on Thursday, ending the holiday-shortened trading week higher. Traders found support after the International Energy Agency said the global oil market was “very close” to reaching a balance between supply and demand. A thirteenth straight week rise in the number of active U.S. oil rigs, however, implied that domestic production was poised to continue its climb. May West Texas Intermediate crude tacked on 7 cents, or 0.1%, to settle at $53.18 a barrel. Prices were up about 1.8% from last Friday’s close. Oil trading will be shut for Good Friday.

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Tesla Inc. Chief Executive Elon Musk tweeted Thursday that the Silicon Valley company hopes to unveil a freight truck in September, calling it “seriously next level.” The unveiling would come just a couple of months ahead of the launch of the Model 3, the small sedan Tesla hopes to sell for $35,000. On a blog post last year about long-term goals for the company, Musk mentioned an electric heavy-duty truck and a “high passenger density urban transport” vehicle, presumably a bus, as well as two other passenger vehicles as the next steps for Tesla. Tesla shares added to gains after the tweet, trading as high as $302.88.

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Gold prices stretched their rally into a third straight session Thursday, as losses in the U.S. dollar lifted the metal to its highest finish in more than five months. The greenback posted sharp declines after President Donald Trump, in an interview with The Wall Street Journal published Wednesday, said the dollar is “getting too strong.” June gold rose $10.40, or 0.8%, to settle at $1,288.50 an ounce. That was the strongest finish for futures prices since Nov. 4, according to FactSet data.

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Canadian Prime Minister Justin Trudeau on Thursday introduced legislation to legalize recreational marijuana, fulfilling a campaign promise. A press conference took place following the announcement and was live streamed on the Canadian Broadcasting Corp. website. During the news conference lawmakers focused on “protecting youth” and reduce organized crime. The plan is to legalize marijuana for those at least 18 years old and above by July 2018. If passed Canada would become the second country behind Uruguay to fully legalize recreational marijuana. Canadian-based Horizons Medical Marijuana Life Sciences ETF was down more than 2% on Thursday, but has gained about 8% in the last week.

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