Steven Cohen is having a tough time getting U.K. financial regulators to give him a second chance in that country. The billionaire recently opened his Point72 hedge fund to outside investors in the U.S., but British securities regulators won’t let Cohen open the fund to U.K. investors, according to a report in the FT, citing […]
Read moreBiogen shareholders are rejoicing over a clinical trial’s positive results. Shares of the biotech company were up 15 percent Friday morning, a day after Biogen and Tokyo-based Eisai announced positive results from a Phase II study with BAN2401, an anti-amyloid beta protofibril antibody, in 856 patients with early Alzheimer’s disease. The stock move added $9.5 […]
Read moreCheck out the companies making headlines before the bell: Northrop Grumman – Northrop is pursuing a Japanese jet fighter contract that may put it in competition with US rival Lockheed Martin, according to sources who spoke to Reuters. Northrop had lost a competition against Lockheed for an Air Force stealth fighter jet nearly three decades […]
Read moreJune hiring is expected to be strong, but markets may find some relief if the Friday employment report contains a softer jobs number and squishy wage growth. The reason is the so-called yield curve has been quietly worrying the market, raising concerns that the Fed is moving too fast and the economy will not be […]
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For all the talk of a trade war and an eager-to-hike Fed, markets haven’t moved much this summer. The S&P 500 is now back to where it was in mid-May. Two key levels could bring about the next big swings on the S&P 500, says one market watcher. “On the resistance level it’s the 2,800 […]
Read moreRecord numbers of travelers are flying this summer, but airlines want to win over a tougher crowd: investors. Airline stocks have tanked while the broader market climbed to record highs this year as carriers’ fuel bills rose faster than demand for seats. The NYSE Arca Airline index, which tracks 15 carriers, is down more than […]
Read moreShares in Germany’s troubled Deutsche Bank jumped by 5 percent on Friday following a report in WirtschaftsWoche magazine that JPMorgan and Industrial and Commercial Bank of China may be interested taking a stake. The business weekly, citing sources in the regional government of North Rhine-Westphalia, also said Chancellor Angela Merkel had met Axel Weber, the […]
Read moreBitcoin fell 3 percent Thursday afternoon along with other cryptocurrencies. As of 3:14 p.m. ET, bitcoin was at $6,467.01, according to CoinBase. Last week, the largest cryptocurrency fell as low as $5,799.62, its lowest since mid-November. There hasn’t been any one catalyst to trigger a sudden sell-off in bitcoin, though digital currency-trading security breaches and […]
Read moreThe historic bull market in global equities still has room to run, according to Citigroup’s equity strategy team, which advised clients Wednesday to continue to buy. The firm’s analysts wrote that Citi’s bear market checklist — a diagnostic used to monitor symptoms of a downturn in equities — suggests than only three of 18 “red […]
Read moreThe removal of General Electric from the Dow Jones Industrial Average after 111 years says more about stock market indices than it does about GE. In the statement announcing the addition of Walgreens Boots Alliance, David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said that “consumer, finance, health […]
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