Stock Market

Wall Street Lead Job Cuts in Corporate America

Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Rapid interest rate hikes, weak consumer demand and an economic slowdown in China have forced firms such as Amazon, Walt Disney, Facebook-owner Meta and American banks […]

Verizon Forecasts Profit Below Estimates

Verizon Communications Inc’s annual profit forecast fell short of Wall Street estimates on Tuesday, as it grapples with slowing growth in wireless customer sign-ups compared with last year and makes heavy investments in 5G technology. Shares in the Dow Jones Industrial Average company fell 2.5% to $38.65 in premarket trading. Verizon, whose plans are the […]

Goldman Sachs Platform

Goldman Sachs Group Inc lost $3.03 billion in nearly three years on its platform solutions business that houses transaction banking, credit card and financial technology businesses. This is the first time that Goldman has given a detailed look into the financials for the consumer and fintech arms that were intended to diversify the Wall Street […]

Ant-Linked Firms’ Shares Rise

Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul. Hong Kong-listed shares of Ma’s Alibaba jumped 7 percent. Shares of Longshine Technology Group Co Ltd, Jilin Zhengyuan, Shanghai Golden Bridge […]

S&P Closes Higher

The S&P 500 finished higher on Wednesday but below its session peak after volatile trading following the release of minutes from the Federal Reserve’s last meeting, which showed officials laser-focused on controlling inflation even as they agreed to slow their interest rate hiking pace. Officials at the Fed’s Dec. 13-14 policy meeting agreed the U.S. […]

Wall St Starts the Year with a Dip

Wall Street’s main indexes closed lower on the first trading day of 2023 with the biggest drags from Tesla and Apple, while investors worried about the Federal Reserve’s interest-rate hiking path as they awaited minutes from its December meeting. Shares in electric vehicle maker Tesla Inc closed down 12 percent after hitting their lowest level […]

European Shares

European shares rose in the first trading session of 2023 on Monday as euro zone manufacturing data suggested the worst had passed after a year marred by fears of a recession as central banks hiked rates globally. The pan-regional STOXX 600 rose 1.0%, supported by consumer discretionary stocks. The automobile and parts sector gained 3.2% […]

Tesla

Shares of Tesla Inc snapped a seven-session losing streak on Wednesday, in their rare rise this month on the way to what will be the electric-vehicle maker’s worst year on record. The stock gained 3.3 percent on the day. It is set to round off 2022 with a 68 percent drop – the most among […]