Wall Street

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It's a Down Day for Stocks, Brutal for One Retailer

Urban Outfitters plunges 15.2%

(Newser) - Stocks are closing lower on Wall Street as investors worry that the US and China may not reach a trade deal this year, the AP reports. Technology and communications stocks helped pull the market lower Wednesday. Analog Devices, a chipmaker, fell 2.8%. AT&T lost 2.2%. Several retailers... More »

Dow Edges Up 23

And the S&P rises 8 points on upbeat day

(Newser) - Stocks are closing broadly higher on Wall Street as some solid corporate earnings and a breakthrough in negotiations over Britain's exit from the European Union put investors in a buying mood, the AP reports. Companies including Netflix, CSX, and Morgan Stanley rose Thursday after reporting surprisingly good profits. Industrial... More »

Trump Protester Whacked Wall Street Bull on the Horns

Texas man is charged after weird attack

(Newser) - There are people who love President Trump, there are people who don't love President Trump, and then there are the kind of people who decide to protest President Trump by attacking a statue of a bull with what was apparently some kind of a musical instrument. Tevon Varlack, who... More »

Stocks Take a Rocky Ride

And remarks by Fed officials leave investors uncertain

(Newser) - Stocks ended an up-and-down day mostly lower as losses for health care and technology companies offset gains in banks and other sectors, the AP reports. UnitedHealth Group gave up 3.1% Thursday and Adobe lost 1.3%. Remarks from two Federal Reserve bank presidents left investors less certain about the... More »

Retailers: We Have Good News

Target jumps 20%, Lowe's 10% on an upbeat day

(Newser) - Stocks closed higher on Wall Street as investors applauded encouraging quarterly results from major retailers, the AP reports. Target soared 20% Wednesday after releasing earnings that blew past analysts' expectations. Lowe's also jumped 10% after its results beat forecasts. Technology companies accounted for a big share of the gains.... More »

A Messy #MeToo Case May Be a First for Wall Street

Sara Tirschwell's fight against TCW could be the first one to go to trial

(Newser) - Wall Street is on track to have its first sexual harassment case in the #MeToo era reach the courtroom. And while most cases of this nature are messy legal affairs, this one involving Sara Tirschwell's allegations against a supervisor at TCW is especially so, writes Anna Silman at the... More »

Dow Falls Nearly 400 Points

Wall Street's 2-week slide continues

(Newser) - Banks and technology companies led stocks broadly lower on Wall Street, extending a two-week slide brought on by escalations of the trade conflict between the US and China that investors fear will slow down the global economy, reports the AP . The Dow Jones Industrial Average fell almost 400 points Monday.... More »

Dow Down 98 Over Trade Worries

S&P 500 loses 3.1% for the week

(Newser) - Stocks are closing out their worst week of the year as traders worry that President Trump's escalating trade war with China could damage the economy. Technology stocks came under the heaviest selling pressure Friday. Apple lost 2.2% and Broadcom gave back 2.4%. Safe-play stocks did relatively well... More »

It's a Bad Day for Netflix

But overall, stocks closed mostly higher

(Newser) - Stocks shook off early losses and closed mostly higher on Wall Street as technology and bank stocks rallied Thursday, the AP reports. IBM rose 4.5% Thursday after reporting solid results. The company, along with Apple, helped lift the technology sector to lead the broader gains. Banks led financial stocks... More »

In Rare #MeToo Case, One Side Is Lying

Sara Tirschwell sues her old boss at TCW Group Inc

(Newser) - Sara Tirschwell says she feels used, and is willing to fight back—to the tune of at least $30 million. The investor worked at a powerful Wall Street asset management firm called TCW Group Inc, where she claims her boss pressured her into sex and abandoned her to the wolves... More »

Amazon Revenue Dampens the Party

But on the bright side, US hiring was good

(Newser) - Stocks held on to tiny gains at the end of an up-and-down day of trading on Wall Street, the AP reports. Major indexes were higher for much of the morning as investors applauded the latest burst of hiring by US employers. The enthusiasm was tempered, however, by a disappointing revenue... More »

Report: Ride-Hailing Firm Plans a Huge Change

Uber could issue IPO in early 2019

(Newser) - Ride-hailing giant Uber has filed confidential preliminary paperwork for selling stock to the public, the AP reports. That's according to a report late Friday in the Wall Street Journal . Citing people familiar with the matter whom it did not identify, the Journal says San Francisco-based Uber Technologies Inc. filed... More »

Wall Street Pay Seems to Have Long Forgotten Recession

Average salary for those in the NYC securities industry in NYC: $422,500, highest in a decade

(Newser) - If you've been fretting over how the folks on Wall Street are doing lately, rest easy: The New York state comptroller says they're fine. Better than fine, actually, per Thomas DiNapoli, who notes the average securities-industry salary in New York last year rose 13%, to $422,500 (with... More »

Trump Just Proposed a Huge Change for Corporate America

He asks the SEC to do away with quarterly earnings reports, move to twice a year

(Newser) - Amid another busy morning on Twitter, President Trump proposed what would be a historic shift for corporate America. He asked the SEC to do away with the requirement that publicly traded businesses file quarterly earnings reports, per the Wall Street Journal . Instead, Trump floated the idea of twice-yearly reports. "... More »

Former Summer Intern Makes Stock Exchange History

Stacey Cunningham will be first woman to lead the NYSE in its 226-year history

(Newser) - The New York Stock Exchange for the first time in its 226-year history will be led by a woman, as Stacey Cunningham will become the 67th president of the Big Board, per the AP . That means that two of the world's most well-known exchanges will be led by women.... More »

Icahn Dumps $31M in Shares Before Steel Tariff Unveiled

Former Trump adviser apparently saw it coming

(Newser) - Billionaire investor Carl Icahn—who once worked as a "special adviser" to President Trump—dumped about $31 million of shares in a company that depends on steel imports just days before Trump announced tariffs on steel imports, the Guardian reports. On February 12, Icahn began selling his shares in... More »

Tax Overhaul Worries Leave Wall Street Mixed

Questions about which companies will benefit led to ups and downs

(Newser) - It was a mixed day on Wall Street as investors pondered which companies would be winners and losers if a Republican-sponsored tax overhaul goes through, the AP reports. Indexes were mostly higher early in the day Monday but wound up with an uneven close after drops in technology and health... More »

Dow Crosses 24K for First Time

November looks like it'll end on a high note

(Newser) - A couple of hours before the stock market opened, President Trump tweeted , "Stock Market hits new Record High. Confidence and enthusiasm abound. More great numbers coming out!" He was right: The Dow Jones Industrial Average crossed the 24,000 threshold for the first time, and the S&P... More »

Oil Prices Dip, Pulling Stocks Down With Them

More stocks fell than rose today on Wall Street

(Newser) - A slide in crude oil prices weighed on energy companies, pulling US stock indexes mostly lower on Wall Street, the AP reports. Marathon Oil slumped 4.3% and Newfield Exploration lost 3.3%. Industrial companies and utilities rose, while retailers posted solid gains on reports the holiday shopping season is... More »

Dow Makes History

It reaches 23K for the first time

(Newser) - Expect some presidential tweets after this: The Dow reached 23,000 for the first time in its history Tuesday morning. President Trump has been boasting of late about the stock market's rise during his presidency, and MarketWatch reports that the most recent surge seems to be tied to Wall... More »

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