First Republic Bank stock slid further early Wednesday after losing nearly half its value in the previous session as reports surfaced of efforts to backstop the S&P 500 index component to prevent further losses. First Republic fell 25% to $6.10 a share on heavy volume of 38 million shares. Meanwhile,…
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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 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 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…
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…
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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…
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 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…