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House aims to vote today on U.S. debt-ceiling bill after last-minute tweaks
The House of Representatives was aiming to vote Wednesday evening on a bill to raise the U.S. borrowing limit, a measure President Joe Biden has threatened to veto as a standoff with congressional Republicans continues. The GOP-run House voted 219-210 in favor of a procedural measure tied to their debt-limit…
Oil prices turn lower for the month on recession fears
Oil futures declined on Wednesday with prices turning lower month to date, pressured by recession worries that are likely to dull energy demand. Weekly declines for crude and petroleum products reported by the U.S. government helped to limit oil’s price loss for part of the trading session, but failed to…
Boeing’s stock gets a boost from revenue and free-cash-flow beats and from production outlook
Boeing Co.’s stock rose more than 3% Wednesday after the aerospace and defense giant reported a wider-than-expected loss that was offset by revenue and free cash flow that beat forecasts. The company also kept its production outlook despite recent problems with its 737 Max jets. “We are progressing through recent…
‘Crypto is dead in America.’ How FTX’s collapse instigated a Biden crackdown on the digital-asset sector.
Few assets have performed better in 2023 than crypto, yet the outlook for the industry in the U.S. has arguably never looked worse amid a broad regulatory crackdown led by Securities and Exchange Commission Chairman Gary Gensler. The severity of the situation is illustrated by cryptocurrency exchange Coinbase’s COIN Monday…
UPS Stock Price | United Parcel Service Inc. Cl B Stock Quote (U.S.: NYSE)
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Stocks fall worldwide on U.S. recession, banking and debt-ceiling risks
Equities dropped in the U.S., Asia and Europe on Tuesday as a combination of recession, banking, and debt-ceiling risks facing the world’s largest economy came together and dented the appetite for risk-taking. The decidedly risk-off sentiment began in Asian markets outside of Japan after California’s First Republic Bank reported a…
Why the broader U.S. stock market has ‘a lot riding’ on Big Tech earnings
A small group of technology giants have fueled U.S. stock-market gains this year, creating high anticipation for their soon-to-be-released earnings reports. “There is a lot riding on Big Tech earnings this week, and the names reporting have a near term track record of delivering disappointing results,” said Nicholas Colas, co-founder…
Intel is expected to post its biggest loss on record. Has the chip maker finally hit rock bottom?
Intel Corp. is expected to post its worst quarterly loss on record Thursday, and analysts are hoping it is rock bottom for the struggling chip maker. Intel INTC is scheduled to report earnings after the close of markets on Thursday, and analysts on average expect the Silicon Valley giant to…
Oil prices end more than 2% lower after back-to-back gains
Oil futures ended lower Tuesday, with prices down by more than 2% after back-to-back gains, as investors weighed recession fears and prospects for energy demand. Price actionMarket drivers Oil prices “looked as if they were going to mount a rally before old banking worries re-emerged,” said Phil Flynn, senior market…