Business

Autonomous-car investment steers GM shares toward best day since bankruptcy

Autonomous-car investment steers GM shares toward best day since bankruptcy

General Motors Co. shares on Thursday rose the most in the company’s post-bankruptcy years as Wall Street cheered news of a multibillion-dollar investment in the auto maker’s driverless-car unit. The shares on Thursday ended at $42.79, up nearly 13%, the largest percentage gain for shares of the “new” GM which emerged from the ashes of bankruptcy and a bailout almost […]

Trump says he‘s considering Martha Stewart pardon, Rod Blagojevich commutation

Trump says he‘s considering Martha Stewart pardon, Rod Blagojevich commutation

President Donald Trump told reporters on Air Force One he‘s considering a pardon for businesswoman Martha Stewart and commuting the sentence of former Illinois Gov. Rod Blagojevich, according to the Associated Press. Stewart was convicted on charges related to a stock-trading case, and Blagojevich was removed from office on corruption charges and sentenced to 14 years in federal prison. On […]

Fed‘s Mester says improving economy means there needs to be more rate hikes

Fed‘s Mester says improving economy means there needs to be more rate hikes

Loretta Mester, president of the Federal Reserve Bank of Cleveland, spoke to MarketWatch in an exclusive interview. The market may have encountered a fresh round of turmoil, but Cleveland Fed President Loretta Mester’s message on the U.S. economy and how many interest-rate hikes are needed has stayed just as it was. “Whether it’s three or four, I know the markets […]

U.S. stocks end lower on trade fears, trimming solid monthly gains

U.S. stocks end lower on trade fears, trimming solid monthly gains

Stocks ended broadly lower Thursday, with industrials feeling the pain after the Trump administration announced it would go ahead with tariffs on imports of steel and aluminum from the European Union, Canada and Mexico. The trade partners said they would retaliate. The Dow Jones Industrial Average ended more than 250 points lower, a decline of 1%, near 24,416, according to […]

Despite Dow, S&P 500 losses Friday, stocks finish the week higher

Despite Dow, S&P 500 losses Friday, stocks finish the week higher

U.S. stocks closed mostly lower on Friday, largely due to a selloff in energy shares. The S&P 500 energy sectors slumped 2.6%, weighing on the broader index. But all three main benchmarks posted weekly gains. The Dow Jones Industrial Average closed 58.67 points, or 0.2%, lower at 24,753.09, but posted a 0.2% weekly gain. The S&P 500 index fell 6.43 […]

Energy ETF falls as OPEC and Russia mull production increase

Energy ETF falls as OPEC and Russia mull production increase

The largest exchange-traded fund to track the energy sector tumbled in premarket trading on Friday, after reports that OPEC and Russia are considering lifting oil production. The Energy Select Sector SPDR ETF lost 1.8% in heavy premarket trading. Among its major components, Exxon Mobil Corp. lost 1.2% and Chevron Corp. was down 1.7%. The report suggested that OPEC and Russia […]

Commentary: What Tesla‘s board should be telling Elon Musk

Commentary: What Tesla‘s board should be telling Elon Musk

What’s wrong with Elon Musk? And where is Tesla’s board of directors, as the antics of its CEO escalate, as Tesla’s stock price falls, and as the progress of the company’s efforts to manufacture more than a few of the 400,000-plus Model 3 electric cars that customers have ordered ebbs and flows? We know where Musk is. The going gets […]