By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks jumped on Thursday, with the Nasdaq and S&P 500 each ending more than 2% higher after jobless claims fell more than expected in the latest week, soothing worries the labor market was weakening too quickly. All the major S&P 500 sectors rose, led by gains in technology …
Nasdaq, S&P 500 end 2% higher in rally after US jobless data Read More »
(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee on Thursday reiterated that the central bank’s job is not to respond to stock market routs or political considerations “The Fed’s out of the election business. The Fed is in the economic business,” Goolsbee said in an interview on Fox News, noting the Fed has been …
Fed responds to economic data, not politics or stocks, says Chicago Fed’s Goolsbee Read More »
By Rajesh Kumar Singh and David Shepardson CHICAGO/WASHINGTON (Reuters) -Delta Air Lines said on Thursday it is pursuing legal claims against CrowdStrike and Microsoft after a global outage last month disrupted travel plans of 1.3 million customers and associated costs of at least $500 million. A software update last month by global cybersecurity firm CrowdStrike …
Delta rejects CrowdStrike criticism, sees $500 million hit from cyber outage Read More »
(Reuters) – Bumble shares slumped 35% in premarket trading after the women-centric dating app cut its annual revenue growth forecast, stoking concerns about its efforts to turn around the business. The company now expects its full-year revenue to grow between 1% and 2%, compared with an earlier forecast for 8% to 11%. It also missed …
Bumble dives as revenue forecast cut triggers worries over turnaround Read More »
(Reuters) – Ripple Labs has been ordered by a Manhattan court judge to pay the U.S. Securities and Exchange Commission about $125 million in penalties over charges of improperly selling the cryptocurrency XRP, according to a court filing. WHY IT’S IMPORTANT The SEC had been seeking fines and penalties totaling $2 billion in its case …
Ripple ordered to pay $125 million in penalty for improperly selling XRP tokens Read More »
(Reuters) – J.P.Morgan has raised the odds of a U.S. recession by the end of this year to 35% from 25% probability earlier, citing easing labor market pressures. Fears of a U.S. recession following a weaker-than-expected July jobs report and an unwinding of yen-funded carry trades sparked a sharp sell-off in global equities earlier this …
J.P.Morgan raises odds of US recession by year end to 35% Read More »
(Reuters) – U.S. oil and gas firm Marathon Oil missed Wall Street estimates for second-quarter profit on Wednesday, hurt by a fall in natural gas prices. U.S. gas prices dropped as mild weather pressured demand and on a rise in stored volumes due to inadequate pipeline capacity. Marathon Oil said its average realized price for …
Marathon Oil misses profit estimates on weak natural gas prices Read More »
By Manya Saini (Reuters) -Robinhood sailed past Wall Street expectations for second-quarter revenue and profit on Wednesday as more retail investors were drawn to meme stocks and cryptocurrencies. The app, typically associated with mom-and-pop investors, saw a surge in trading volumes as meme-stock influencer Keith Gill returned to social media and reignited interest in the …
Robinhood results beat estimates on meme-stock, crypto trading boom Read More »
By Harshita Mary Varghese (Reuters) -Warner Bros Discovery said on Wednesday it wrote down the value of its TV assets due to uncertainty of fees from cable and satellite distributors and sports rights renewals, sending its shares down 8% in extended trading. The company, home to sports network TNT as well as streaming service Max, …
By Sabrina Valle and Seher Dareen (Reuters) -Occidental Petroleum on Wednesday beat Wall Street estimates for second-quarter profit, in the first results since it closed the $12 billion acquisition of CrownRock last week. The Houston-based oil and gas firm benefited from higher oil production and a rise in crude prices. Its worldwide realized crude oil …
Occidental Petroleum beats second-quarter profit estimates on higher production Read More »
