Breaking Stock Market and Financial News

U.S. lawmakers look to Trump administration briefing for clear North Korea strategy

Top Reuters News - 7 hours 40 min ago
WASHINGTON (Reuters) - U.S. lawmakers want to emerge from briefings by the Trump administration on North Korea on Wednesday with something many think has been absent from the White House so far: a clear strategy for dealing with a major national security threat.

Netflix boosts size of euro bond offering by 30%,

MarketWatch Market Pulse - 8 hours 3 min ago

Netflix Inc.'s said Wednesday that its 1.3 billion euro senior note offering was priced with a 3.625% coupon payment. The offering was increased to 1.3 billion euro, which is the equivalent of about $1.4 billion, from 1.0 billion euro. The notes, which will mature on May 15, 2027, will yield well above that of the equivalent 10-year government bonds, which yield 0.35%. The sale is expected to close on May 2, which interest payable in cash semiannually beginning Nov. 15. Netflix plans to use the proceeds from the offering for general corporate purposes, including content acquisition, capital expenditures and potential acquisitions. The stock, which shed 1.3% in afternoon trade, has run up 21% year to date, while the S&P 500 has gained 7%.

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.

Oil ends with a slight gain as gasoline prices fall 2%

MarketWatch Market Pulse - 8 hours 26 min ago

Oil prices settled Wednesday with a modest gain, well below the session's best levels, as gasoline futures fell on the back of an unexpected weekly rise in U.S supplies of the fuel. June WTI crude tacked on 6 cents, or 0.1%, to settle $49.62 a barrel on the New York Mercantile Exchange after touching a high of $50.20.

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.

H&R Block's stock takes a dive after Trump's tax plan revealed

MarketWatch Market Pulse - 9 hours 7 min ago

Shares of H&R Block Inc. dropped off a table as President Donald Trump's tax plan was revealed Wednesday, amid concerns that the tax preparation company would be hurt by a simplified tax code. The stock was trading up about 1.4% at 1:30 p.m. ET, just before the tax plan was released, then fell as much as 1.8% to an intraday low of $23.81 within minutes, before bouncing to be down 0.3%. Shares of Intuit Inc. was down 2.1%, but was already down 2.2% before the tax plan was released.

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.

Gold pares loss, oil holds gains as Trump administration announces its tax plan

MarketWatch Market Pulse - 9 hours 17 min ago

Gold prices pared some losses in electronic trading Wednesday, while oil prices held onto their modest gains after the Trump administration unveiled its tax reform plan. June gold was at $1,265.20 an ounce in electronic trading. It fell $3, or 0.2%, to settle at $1,264.20, just as Treasury Secretary Steven Mnuchin started to unveil the plan. June West Texas Intermediate oil was up 20 cents, or 0.4%, to $49.76 a barrel on the New York Mercantile Exchange, little changed from its level minutes before the news.

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.

U.S. stocks hold gains after Trump's tax overhaul proposal unveiled

MarketWatch Market Pulse - 9 hours 22 min ago

U.S. stocks traded in positive territory on Wednesday as investors digested the details of President Donald Trump's amibitious plan that proposed both simplifying tax codes for individuals and lowering the corporate tax rate to 15%. The S&P 500 rose 8 points, up 0.4%, to 2,397 while the Dow Jones Industrial Average gained 68 points, or 0.3%, to 21,063 while the Nasdaq Composite Index climbed 14 points, or 0.2%, to 6,039.

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.

Amazon's stock climbs into record territory a day ahead of quarterly results

MarketWatch Market Pulse - 9 hours 42 min ago

Amazon.com Inc.'s stock rose 0.6% in afternoon trade Wednesday, putting it on track for a record close, as investors jockey for position a day before the release of the e-commerce giant's first-quarter report. The stock was trading at $912.96, above the April 5 record close of $909.28, but still below that day's all-time intraday high of $923.72. This would be the stock's ninth record close this year. Amazon is expected to report results after Thursday's close. The stock has lost ground the day after the last two quarterly reports, by an average of 4.3%. The stock has run up 22% year to date, while the Nasdaq Composite has surged 12% and the S&P 500 has gained 7%.

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.

U.S. may need stronger defense against North Korea missiles: admiral

Top Reuters News - 9 hours 42 min ago
WASHINGTON (Reuters) - The United States may need to strengthen its missile defenses, particularly in Hawaii, given the advancing threat from North Korea's missile and nuclear weapons programs, the top U.S. commander in the Pacific told Congress on Wednesday.

House Freedom Caucus supports compromise Republican health-care plan

MarketWatch Market Pulse - 9 hours 45 min ago

The conservative House Freedom Caucus on Wednesday threw their critical support behind a compromise GOP health-care bill increasing the chances for the legislation. "While the revised version still does not fully repeal Obamacare, we are prepared to support it to keep our promise to the American people to lower healthcare costs," the Freedom Caucus, a group of about three dozen conservatives, said. The caucus withheld support from Republican legislation put forward in late March to repeal and replace Obamacare, leading House leaders to scuttle a vote on the plan. Since then, House Republicans have been meeting sporadically with the Trump White House behind the scenes to draft a compromise GOP proposal that would meet the demands of both liberal and conservative Republicans. House Speaker Paul Ryan told reporters the compromise plan is "a great way to lower premiums, gives states more flexibility while protecting people with pre-existing conditions." But Ryan refused to say when a vote on the measure might take place.

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.

White House readies order to quit NAFTA: administration official

Top Reuters News - 9 hours 51 min ago
WASHINGTON (Reuters) - A draft executive order to withdraw the United States from the North American Free Trade Agreement is under consideration, a senior Trump administration official said on Wednesday, confirming an earlier report from Politico.

Russell 2000 hits intraday record as sector most likely to benefit from Trump's tax plan climbs

MarketWatch Market Pulse - 10 hours 3 min ago

The Russell 2000 hit a record in intraday trade on Wednesday as the market eagerly awaited a plan to overhaul corporate taxes set to be revealed by officials of President Donald Trump at 1:30 p.m. Eastern. The Russell 2000 , which tracks small-capitalization stocks, hit a high in intraday trade of 1,424.06, above its closing record of 1,413.64 set March 1, according to FactSet data. Another popular way to invest in the smallest companies in the S&P 500, the S&P Small Cap 600 touched a record of its own, as did the iShares Russell 2000 ETF , which tracks the Russell 2000 closely. The small-cap sector has enjoyed a healthy run ahead of Trump's tax announcement, largely because the president's proposal calls for cutting the tax rate on owner-operated businesses to 15%. However, there are expected to be challenges to the administration's new tax plan because it is likely to add to the U.S. deficit. Meanwhile, the Dow Jones Industrial Average is gaining 0.3% at 21,056, the S&P 500 index has gained 0.3% at 2,396--a few points from an intraday record--and the Nasdaq Composite Index was trading above Tuesday's closing record, after it finished above 6,000 for the first time ever.

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.

Fox News anchor, others hit network with race bias claims

Top Reuters News - 10 hours 10 min ago
(Reuters) - Fox News is facing renewed legal claims that it mistreated non-white employees, a week after network parent Twenty-First Century Fox Inc severed ties with its biggest star over unrelated sexual harassment complaints.

Exclusive: Austria investigates Airbus CEO over suspected fraud

Top Reuters News - 10 hours 11 min ago
VIENNA (Reuters) - Airbus was plunged deeper into legal wrangling over past business dealings on Wednesday when Vienna prosecutors announced a fraud investigation into its chief executive in connection with a $2 billion fighter order over a decade ago.

Jonathan Demme, Oscar-winning director of 'The Silence of the Lambs' dies at 73

MarketWatch Market Pulse - 10 hours 36 min ago

Jonathan Demme, the Oscar-winning director of "The Silence of the Lambs," has died, according to media reports. He was 73 years old. Demme, who directed other acclaimed films such as "Philadelphia," "Stop Making Sense" and "Rachel Getting Married," died Wednesday in the Manhattan borough of New York from reported complications of esophageal cancer.

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.

Dollar advances against Mexican peso, Canadian dollar on reports U.S. may withdraw from Nafta

MarketWatch Market Pulse - 10 hours 42 min ago

The dollar advanced against its two North American rivals on Wednesday following a Politico report that the Trump administration is weighing an executive order to withdraw from the North American Free Trade Agreement. If the U.S. follows through, heavy industries in both Canada and Mexico would likely suffer, possibly weighing on economic growth. The dollar rose 1.7% to trade at 19.18 pesos, its strongest level in six weeks. By comparison, it traded at 18.87 pesos late Tuesday in New York. The greenback also climbed against the Canadian dollar, though that move was somewhat more muted; one dollar bought C$1.3607 in recent trade, up 0.2% from C$1.3571 late Tuesday.

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.

Dow losing 10 points from stocks of companies reporting earnings

MarketWatch Market Pulse - 10 hours 58 min ago

Shares of the companies that reported earnings early Wednesday are subtracting a combined total of about 10 points from the Dow Jones Industrial Average . United Technologies Corp. beat first-quarter profit and revenue expectations, and the stock rose $2.02, or 1.7%, to pace the Dow's gainers. That was adding about 14 points to the Dow's price. Procter & Gamble Co. missed revenue expectations, and the stock shed $1.61, or 1.8%, to lead the Dow losers. That shaved about 11 points off the Dow's price. Shares of Boeing Co. , which also missed revenue estimates, were the second-biggest Dow loser as they fell $1.96, or 1.1%, to subtract about 13 points from the Dow. The Dow was up 55 points in midday trade, with 20 of its 30 components gaining ground.

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.

Amazon launches Echo Look, a camera to track your wardrobe

MarketWatch Market Pulse - 11 hours 39 min ago

Amazon.com Inc. said Wednesday that it has launched the Echo Look, a hands-free, voice-activated camera that will help users track their wardrobe. The device will take full-length photos that can be shared, can create a lookbook, and, using Alexa, will create a short video that shows the user's outfit from every angle. The Style Check feature, which Amazon says combines machine learning with advice from fashion specialists, will offer a second opinion on an outfit based on trends and what looks best. The Echo Look will also introduce brands and styles to users based on their look books. The Echo Look will be about $200 when it goes on sale, according to the Amazon site. Amazon shares are up 47.5% for the past year while the S&P 500 index is up 14.6% for the period.

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.

Israel's 'Checkpoint Q': a daily hurdle for Palestinians

Top Reuters News - 12 hours 7 min ago
QALANDIYA, West Bank (Reuters) - To one side loom towers manned by Israeli soldiers who keep watch from behind bulletproof glass. To the other stand concrete walls charred by fire bombs, pitted with bullet holes and scrawled with Palestinian graffiti. In between, barriers and steel fences block traffic or corral vehicles and pedestrians.

Oil turns higher as U.S. crude supplies notch biggest weekly fall of the year

MarketWatch Market Pulse - 12 hours 31 min ago

Oil prices turned higher Wednesday after data from the U.S. Energy Information Administration showed that domestic crude supplies fell 3.6 million barrels for the week ended April 21. The American Petroleum Institute late Tuesday reported a rise of 897,000 barrels, while analysts polled by S&P Global Platts forecast a fall of 1 million barrels. Gasoline stockpiles rose by 3.4 million barrels, while distillate stockpiles were up 2.7 million barrels last week, according to the EIA. The S&P Global Platts survey had forecast sizable declines for both products. June crude rose 28 cents, or 0.6%, to $49.85 a barrel on the New York Mercantile Exchange. It traded at $49.28 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.

Express Scripts stock surges 3% after Anthem says no final decision made about 2020 contract

MarketWatch Market Pulse - 12 hours 35 min ago

Express Scripts Holding Co. shares surged 3.1% to $61.81 in morning trade Wednesday after Anthem Inc. , its largest client, said no final decision had been made with regard to a 2020 contract that Express Scripts had previously said was imperiled. Express Scripts stock dropped 10.8% in Wednesday trade after its comments about the Anthem contract, which made up nearly 20% of its revenue last year. Anthem wouldn't comment specifically about Express Scripts but President and Chief Executive Officer Joseph Swedish said that "we've not made a final decision with respect to any vendor, and have stated clearly that we've not done so and we've not ruled anyone in or out." With its Express Scripts contract due to expire at the end of 2019, Anthem issued requests for proposals in the first quarter and expects all responses to come in during the first half of this year. Though Anthem still maintains it is owed a "minimum" of $3 billion in costs -- $3 billion that Express Scripts said this week it does not have -- Swedish said "we are hopeful that we can resolve our dispute." Anthem shares surged 3.6% in morning trade to $178.61. Express Scripts shares have sunk 10.7% over the last three months, compared with a 17.2% rise in Anthem stock and a 4.2% rise in the S&P 500 .

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.

Pages