Investing
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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 supply-chain disruptions but remain confident…
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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 disappointing 41% first-quarter drop in…
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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 action Market drivers Oil prices “looked as if they were going to mount a rally before old banking worries re-emerged,” said Phil Flynn, senior market analyst at The Price…
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U.S. stocks close lower, Nasdaq ends at lowest in almost a month as investors digest earnings
U.S. stocks closed lower on Tuesday as investors digested a mixed picture of corporate earnings along with data suggesting a slowing economy and a consumer that’s under pressure from inflation. How stocks traded On Monday, the Dow Jones Industrial Average rose 66 points, or 0.2%, to 33875, the S&P 500 increased 4 points, or 0.09%,…
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Social Security can be saved by investing it in the stock market, says Sen. Bill Cassidy
The real third-rail of Social Security should not be cutting benefits or raising taxes, but instead it should be political suicide to keep doing nothing, said Sen. Bill Cassidy in a video discussion with the Bipartisan Policy Center on Tuesday. The Louisiana Republican took on both 2024 lead presidential candidates, Joe Biden and Donald Trump,…
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Credit Suisse shelves purchase of Michael Klein’s investment firm as bank sees $68.7 billion in outflows
Credit Suisse and Michael Klein have ended an agreement for the Swiss bank to acquire boutique investment banking arm The Klein Group, LLC due to its planned takeover by UBS, according to a brief announcement within Credit Suisse’s first-quarter results on Monday. The deal, first announced in February, saw Credit Suisse set to acquire the…
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Tesla investors urge vote against former CTO J.B. Straubel, for board independence
An investor group on Monday urged fellow Tesla Inc. shareholders to vote against putting a former company executive on the board, saying the board already has a lack of independence and has been unable to rein in Chief Executive Elon Musk. Tesla TSLA has nominated former Chief Technology Officer J.B. Straubel to replace independent director…
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Even without an ‘earnings apocalypse,’ stocks still need to drop 15%, says strategist
Stocks got off to a cautious start on Monday, as investors face the who’s who of earnings this week. We’ve largely heard from the banks thus far and the news hasn’t been as bad as expected, but this week it’ll be the turn of the all-powerful tech sector, along with other important corners of the…
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Treasury yields slip to lowest levels in over a week ahead of busy week of earnings, economic news
Treasury rates fell to their lowest levels in more than a week on Monday as a mild risk-off mood boosted demand for most government paper ahead of key U.S. economic data later in the week.However, yields on 1- and 2-month Treasury bills jumped as traders positioned for the possibility of two more rate hikes by…
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Nasdaq Composite ends slightly lower ahead of tech-sector earnings onslaught
The Nasdaq Composite ended slightly lower as investors prepared for a busy week of earnings that will include results from megacap tech heavyweights, while the Dow Jones Industrial Average and S&P 500 eked out small gains. How stocks traded On Friday, stocks eked out tiny gains, but ended the week with small losses. The S&P…