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Wire stories category, Page 72

Pope Francis, first Latin American pontiff, dies at 88
Wall Street’s GameStop bug may have mutated; silver surges 
NEW YORK — The erratic trading in shares of underdog companies like GameStop that turned markets combustible last week appears to have migrated to commodities, sending silver prices surging to an eight-year high. Silver futures jumped more than 9% on Monday to $29.42 per ounce with #silversqueeze trending on Twitter....
For GameStop day traders, the moment they’ve dreamed about
WASHINGTON — They’ve endured a financial crisis. Two deep recessions. Mounds of student debt. Stagnant pay. Costly health care. Dim job prospects. They’ve seen the uber-rich grow richer while a pandemic threw tens of millions of people out of work and left many more isolated and vulnerable at home. Now,...
Biden, Democrats hit gas on push for $15 minimum wage
WASHINGTON — The Democratic push to raise the federal minimum wage to $15 an hour has emerged as an early flashpoint in the fight for a $1.9 trillion covid-19 relief package, testing President Joe Biden’s ability to bridge Washington’s partisan divides as he pursues his first major legislative victory. Biden...
GameStop soars again; Wall Street bends under the pressure
NEW YORK — Stocks were broadly higher in afternoon trading Tuesday, but shares of closely watched companies like GameStop and AMC Entertainment were falling sharply. The S&P 500 rose 1.8% with each of its 11 sectors making gains. Banks and and a mix of companies that rely on direct consumer...
GM hopes to eliminate gas vehicles, have all-electric portfolio by 2040 
General Motors “aspires” to have all of its global new light-duty vehicles, including full-size pickups and SUVs, be zero emission by 2035. It also targets 2040 for its global products and plants to be carbon neutral. GM made the announcements Thursday, stopping short of saying all of its vehicles will...
Apple to crack down on tracking iPhone users in early spring
Apple says it will roll out a new privacy control in the spring to prevent iPhone apps from secretly shadowing people. The delay in its anticipated rollout aims to placate Facebook and other digital services that depend on such data surveillance to help sell ads. Although Apple didn’t provide a...
New home sales rise in December after sharp November drop
Sales of new homes rose 1.6% in December after a big decline in November that was even worse than previously thought. The increase last month pushed sales of new homes to a seasonally adjusted annual rate of 842,000, the Commerce Department reported Thursday, though that was fewer than analysts had...
Stocks claw back some lost ground; GameStop swings wildly
Stocks closed broadly higher Thursday on Wall Street, helping the market recoup some of its losses a day after its biggest pullback in nearly three months. Investors continued to closely watch the wild swings in GameStop, AMC and several other stocks which have become targets for hordes of online investors...
Robinhood app ‘restricting transactions’ for GameStop, AMC, Nokia stocks
Stock trading app Robinhood began restricting transactions on certain stocks Thursday, following days of recent surges from GameStop and others. “We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY,...
In duel over GameStop, small investors cause Wall Street elite to lose billions
Across most of America, GameStop is just a place to buy a video game. On Wall Street, though, it’s become a battleground where swarms of smaller investors see themselves making an epic stand against the 1%. The funds serving the financial elite are starting to walk away in defeat. Big...
2 CBS executives shelved pending diversity investigation
NEW YORK — CBS has placed two top executives on administrative leave as it investigates charges of a hostile work environment for women and minorities at news operations in some of its largest individual stations. Peter Dunn, president of the CBS Television Stations, and David Friend, senior vice president for...
Fed stresses its commitment to low rates for the long run
WASHINGTON — The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. The Fed said in a statement after its latest policy meeting that the improvement in the economy and job market...
Stocks have their worst day since October as Big Tech sinks 
Technology companies led a broad sell-off in stocks Wednesday, knocking more than 600 points off the Dow Jones Industrial Average and handing the market its worst day in nearly three months. The S&P 500 fell 2.6%, its biggest single-day drop since it lost 3.5% on October 28. It had set...
In GameStop saga unfolding on Wall Street, 2 Goliaths fall
In the David and Goliath saga surrounding the struggling retail chain GameStop, Goliath has fallen. Two Goliaths, actually. A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop’s stock will crash have largely abandoned their positions. The victors: an army of smaller investors who...
Smaller investors face down hedge funds, as GameStop soars 
NEW YORK — A head-scratching David and Goliath story is playing out on Wall Street over the stock price of a money-losing videogame retailer. An army of smaller-pocketed, optimistic investors is throwing dollars and buy orders at the stock of GameStop — in direct opposition to a group of wealthy...
A bumpy day on Wall Street ends with stock indexes mixed 
NEW YORK — Stocks swerved to a mixed finish Monday on Wall Street, ahead of a deluge of corporate earnings reports scheduled to arrive this week. The S&P 500 rose 13.89 points, or 0.4%, to 3,855.36 as gains for influential Big Tech stocks were big enough to steady the index...
Budweiser joins Coke, Pepsi brands in sitting out Super Bowl
NEW YORK — For the first time since 1983, when Anheuser-Busch used all of its ad time to introduce a beer called Bud Light, the beer giant isn’t advertising its iconic Budweiser brand during the Super Bowl. Instead, it’s donating the money it would have spent on the ad to...
Stocks slip on Wall Street as worldwide rally takes a pause
NEW YORK — Wall Street is tapping the brakes on its record-setting rally this week, as markets worldwide take a pause on Friday. The S&P 500 was 0.1% lower in afternoon trading, a day after inching up to its second straight all-time high. The Dow Jones Industrial Average was down...
Stocks drift to mixed close; S&P 500 ekes out another record
NEW YORK — Stock indexes capped a day of choppy trading with a mixed finish Thursday, though solid gains by technology companies helped lift the S&P 500 and Nasdaq composite to more record highs. The S&P 500 edged up less than 0.1%. Traders bid up shares in Big Tech stocks,...
NRA says it is ‘not afraid’ of New York lawsuit, will continue fight
The National Rifle Association of America is “not afraid” of a lawsuit threatening it with dissolution in New York and is prepared to proceed with the legal battle despite its bankruptcy filing, a lawyer for the group said in court. The gun rights group is “not in any way attempting...
Wall Street hits records as hopes build for more stimulus
NEW YORK — Wall Street marked the dawn of President Joe Biden’s administration with stocks rallying to record highs as hopes build that new leadership in Washington will mean more support for the struggling U.S. economy. The S&P 500 rose 1.4%, topping its previous all-time high set earlier this month....
GM teams up with Microsoft on driverless cars
SILVER SPRING, Md. — General Motors is teaming up with Microsoft to accelerate its rollout of electric, self-driving cars. In the partnership announced Tuesday, the companies said Microsoft’s Azure cloud and edge computing platform would be used to “commercialize its unique autonomous vehicle solutions at scale.” Microsoft joins General Motors,...
Wall Street’s momentum swings back as stocks, yields tick up
Wall Street kicked off a holiday-shortened week with broad gains for stocks Tuesday, as the market recovered most of its losses from last week. The S&P 500 gained 0.8%, pulling to within 1% of its record high set earlier this month. About 60% of the companies in the benchmark index...
Canada urges Biden not to cancel Keystone XL pipeline on first day
TORONTO — Top officials in Canada want a chance to make the case for a long disputed oil pipeline to be built amid reports President-elect Joe Biden will cancel Keystone XL. Alberta Premier Jason Kenney said Monday he will seek legal damages if reports are true that Biden plans to...
Stocks fall as economy’s pain deepens, head for weekly loss
NEW YORK — Stocks are pulling lower on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 was down 0.5% in afternoon trading, with stocks of companies that most need a healthier economy taking the...


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