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US business spending surge more than expected in August; outlook uncertain
On Friday, US Commerce Department said in a statement that the US capital goods' orders had surged more than anticipated in August, suggesting an uptick in business expenses
Sourav D
Reporter
Sourav has been a finance enthusiast since early-teens who later became a dedicated author, editor and publisher for several publications, magazines and newspapers working in the field more than a decade despite being a doctor.
He graduated in medicine and surgery in 2015 and has currently been pursuing his passions on finances & economics alongside engaged with organizations to generate solid hits through web based technologies apart from working as a physician. '
US stocks surge as tech rallies; S&P 500, Dow down for fourth straight week
As the mega-cap tech stocks such as Facebook, Amazon, Apple, Microsoft and Nvidia had rallied over 2.1 per cent, Wall St. had wrapped up the Friday's session with solid gains
European shares post worst weekly decline since June as pandemic bubble jitters
On Friday, a slew of European stock indices had ended the day lower over frets of a second wave of pandemic outbreak which in effect could lead to a second round of forced business closures
Oil woes on supply concerns, soaring US stockpiles
On Friday, both US and UK crude oil futures' prices had been inched lower on growing worries of a likely supply glut over the coming weeks
Precious gold slips as investors seek safety on American Dollar amid pandemic hobbles
On Friday, the precious safe-haven metal gold futures' prices plumetted as the American currency appeared to have regained its safe-haven appeal on a temporary basis
EU Commission appeals after losing Apple $15 billion tax case
EU Commission said on Friday that it was going to appeal against a court decision that ruled earlier this year that the decision to incline $15 billion in punitive measures for Apple Inc. in Irish back taxes had been wrongful
US initial jobless claims rise as fiscal stimulus fades
US Labour Department said in a statement later this week that the laid-off Americans filing for the state unemployment aids rose last week
Texas luxury Dept. store chain Neiman Marcus emerges from bankruptcy
US luxury departmental store chain Neiman Marcus said late on Friday that the group had emerged from the pandemic driven bankruptcy, marking up the first American retailing giant to dig out of the pandemic-led slump
Seattle member-only retailer Costco beats estimate; pandemic costs weigh on shares
Costco, the Seattle-based membership-only wholesale retailer had beaten estimates for revenues and profits during its fourth fiscal quarter that ended on Aug 30
Manhattan court rules innocent investors in Madoff Ponzi scheme must pay back
On Thursday, a three-judge panel in an appeals court in Manhattan had upheld a lower court ruling that the investors who had benefitted from Madoff Ponzi schemes must have to pay back
Oregon footwear maker Nike shakes off pandemic blues as Q1 profit beats estimate
Earlier this week, the world's No. 1 sports apparel manufacturer Nike Inc. had beaten Wall St. estimates for profits over the first fiscal quarter of the year that ended on August 31
Chicago soybean futures set for first weekly plunge in six months amid US harvests
Soybean futures' prices scheduled to be expired on September and November have been set for the first weekly percentage decline since mid-March in the Chicago Board of Trade
US new home sales surge by the steepest pace in 14 years in August
On Thursday, US Commerce Department said in a statement that the new home sales in the United States had surged by 4.8 per cent in August on an annualized basis
Wall St. closes higher on tech rally amid mixed signals on economic rebound
On Thursday, all three key indices of Wall St. had managed to eke out gains after an utterly choppy trading session
California's Newsom moves to end sales of new gas-powered car by 2035
On Wednesday, California Governor Gavin Newsom had issued an executive order that said the US state would end the sales of new gasoline powered cars by 2035
Santa Monica’s GoodRx shares jump 53% in Nasdaq debut after $1 billion IPO
Shares' prices of California-headquartered healthcare company GoodRx spiked as much as 53 per cent at its Nasdaq debut on Wednesday
Britain warns no-deal Brexit could see 7,000 trucks at border queues
On Wednesday, the UK Government of PM Boris Johnson had warned a number of logistic firms to prepare for a no-deal Brexit
American Fed policymakers vow to keep interest rate near-zero, call for federal aid
On Wednesday, US Fed policymakers had reaffirmed their stance on a near-zero interest rate at least until end-2023 in a bid to encourage the big-league investors to bet on an ailing US economy
California’s Tesla market cap shed $50bn in single session after Musk’s battery pitch
On Wednesday, shares' prices of Tesla Inc. slid as much as 10 per cent a day after the e-vehicle maker boss Musk had unveiled his plans of rolling out a $25,000 budget electric car by 2023
Global stocks, Wall St. slide; US Dollar gains as data hints drag in recovery
On Wednesday, a gauge of global stock indices had been slumped amid a decline in risk-appetite following release of a series of dismal fiscal data
US existing home sales surge to 14-year-peak in August
Chicago-based National Association of Realtor said in a statement on Tuesday that the existing home sales had surged to a nearly 14-year peak in August
Russia’s Google Yandex in talks to buy online lender Tinkoff for $5.5 billion
Yandex, widely known as the Google of Russia said on Tuesday that the company was looking to purchase the world's largest online bank Tinkoff at a $5.5 billion buyout deal
American Dollar rises to two-month highs after hawkish tone from Chicago Fed's Evans
US Dollar reported broad-based gains against a basket of six major currencies on Tuesday, while the greenback soared to a seven-week high against the safe-haven Swiss Franc
Wall St. rebounds on Amazon boost, Fed Chair Powell’s cautious optimism
Followed by a maverick turnaround of the tech stocks on Tuesday, S&P 500 had snapped a four-day long losing streak with all of its sub-sectors rounding off the day higher
Redmond software giant Microsoft to purchase video game maker ZeniMax for $7.5bn
Software giant Microsoft Corp. said in a statement that it would be purchasing the video game maker ZeniMax at a $7.5 billion buyout deal, in part to bolster its Xbox Game pass subscriptions
Fed’s Powell voices optimism on recovery, but urges for further federal aid
Fed Chair Powell and US Treasury secretary Mnuchin had expressed a cautious optimism over hopes of a quicker-than-anticipated turnaround in US economy
Santa Clara's Oracle Corp., China's ByteDance in feud over terms of TikTok agreement
On Monday, controversial comments from ByteDance and Oracle had largely jeopardized the slated TikTok deal reached with the White House over the weekend
Oil plunges 5% as global economy swoons in line with spike in pandemic cases
On Monday, crude oil futures' prices had witnessed a sweeping plunge of as much as 5% as a strident rise in pandemic cases had triggered worries of a second wave of the outbreak
Wall St. eases off on lockdown fears, likely delay of stimulus
US stocks exposed to global trades fell sharply on Monday with Dow leading the tally of the losses and S&P 500 shedding over 1%
American Bank shares slip on report of over $2 trillion in money laundering
On Monday, leaked Government documents had revealed that a number of heavy-weight lenders had processed over $3 trillion in illicit transactions between 1999 and 2017