• Stocks end lower after Amazon disappointment, but S&P 500 logs 6th straight monthly gain

    Stocks fell Friday, leaving major averages negative for the week but still holding monthly gains as July trading came to a close. Equities were pressured after e-commerce giant Amazon.com Inc. late Thursday delivered disappointing quarterly results. The S&P 500 fell around 24 points, or 0.5%, to close near 4,395, according to preliminary figures, while the Nasdaq Composite fell around 106 points, or 0.7%, to finish near 14,673. The Dow Jones Industrial Average fell around 149 points, or...

  • Oil futures end higher, up a fourth-straight month

    Oil futures ended higher on Friday, with prices up a fourth month in a row. "Oil futures [markets] remain hyper-focused on draws to U.S. crude and product inventories and are likely positioned on the expectation that draws will continue through the coming month, as strengthening refining margins should entice stronger crude runs in the final month of U.S. driving season," said Troy Vincent, market analyst at DTN. West Texas Intermediate crude for September delivery climbed 33 cents, or nearly...

  • Gold prices settle lower, but post a gain for the month

    Gold futures settled lower on Friday, but climbed for the month. "Renewed signs that the Federal Reserve may not taper anytime soon continues to sweeten appetite for the precious metal, while negative COVID-19 developments may boost attraction towards the safe-haven asset," said Lukman Otunuga, manager, market analysis at FXTM. Looking ahead however, gold may face multiple headwinds "as the Fed finds it increasingly difficult to defend its dovish stance," he said. With annual inflation in the...

  • Trump's tax returns must be released to Congress, DOJ says

    The Justice Department on Friday said the Treasury Department must release former President Donald Trump's tax returns to a congressional committee. An opinion by the DOJ's Office of Legal Counsel said the House Ways and Means Committee's chairman had shown "sufficient reasons" for requesting Trump's returns. The former president has long fought the release of his tax documents. House Speaker Nancy Pelosi, a California Democrat, said access to the returns is a "matter of national security."...

  • Baker Hughes data show a fall in U.S. oil-drilling rigs for the first time in 5 weeks

    Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was down by two at 385 this week. That followed four weekly increases in a row. The total active U.S. rig count, which includes those drilling for natural gas, also declined by three to stand at 488, according to Baker Hughes. September West Texas Intermediate crude continued to trade higher, with the contract up 35 cents, or 0.5%, to $73.97 a barrel on the New York Mercantile Exchange.

  • Dole stock suffers downbeat debut, as it opens below IPO price and falls further

    Dole PLC stumbled out of the gate Friday, as the Ireland-based fruit and vegetable company's stock opened 6.3% below the price of the downsized initial public offering, then slipped even further. The IPO had priced overnight at $16 a share, at the low end of the recently lowered expected range of between $16 and $17. The company raised $400 million, as it sold 25.0 million shares in the IPO, down from expectations of a 30.3 million share offering. The stock's first trade was at $15.00 at 11:18...

  • Market breadth looks bullish despite declines in the Dow, S&P 500 and Nasdaq

    While the Big 3 stock market indexes are all losing ground, market internals are looking rather bullish. The number of stocks gaining ground is leading decliners 1,658 to 1,114 on the NYSE and 1,892 to 1,488 on the Nasdaq, while volume in advancing shares represents 53.7% of total volume on the Big Board and 56.3% of total volume on the Nasdaq. Meanwhile, the Dow Jones Industrial Average is down 21 points, or 0.1%, with 17 of 30 components losing ground, the S&P 500 is slipping 0.2% and...

  • Robinhood stock falls again, hits lower intraday low before paring losses

    Shares of Robinhood Markets Inc. fell 1.4% in morning trading Friday, as a night's sleep failed to fully rejuvenate investors in the newly public no-fee trading app. The stock debuted on Thursday at $38.00, right where the initial public offering priced, but quickly fell below that IPO price, hitting an intraday low of $33.35 before closing its first day down 8.4% at $34.82. On Friday, the stock spiked up as much as 1.4% to an intraday high of $35.30 soon after the open, before selling off. It...

  • Baker Hughes stock gains after setting $2 billion stock repurchase program

    Shares of Baker Hughes Co. rallied 0.8% in morning trading Friday, after the oilfield products and services company said it set a $2 billion stock repurchase program. Based Thursday's stock closing price of $21.18, the buyback program represents about 9.1% of the shares outstanding. The repurchases come as General Electric Co. continues to sell off its stake in the company, which GE saying earlier this week that it received $1.0 billion in proceeds from the sale of Baker Hughes stock in the...

  • Stocks open lower, with Nasdaq down 0.9% after Amazon results disappoint

    Stocks opened lower Friday, with the tech-heavy Nasdaq Composite leading major averages to the downside after disappointing quarterly results from online-retailing juggernaut Amazon.com Inc. The Dow Jones Industrial Average was down 64 points, or 0.2%, at 35,021, while the S&P 500 declined 0.6% to 4,393.34. The Nasdaq dropped 0.9% to 14,645.47. Shares of Amazon declined more than 7% in early trade.

  • Erytech Pharma stock nearly doubles on heavy volume after ALL treatment granted Fast Track designation

    Shares of Erytech Pharma SA rocketed 98.5% on heavy volume in premarket trading Friday, enough to make them the biggest gainer and most actively traded ahead of the open, after the France-based biopharmaceutical company said it's treatment for hypersensitive acute lymphocytic leukemia (ALL) patients was granted Fast Track designation by the Food and Drug Administration. Trading volume was 11.5 million shares in recent trading, compared with the full-day average of about 66,600 shares. "This is...

  • AbbVie cites growth of immunology business in the second quarter

    AbbVie Inc. beat expectations for the second quarter of 2021, driven largely by gains in its immunology business. The drug maker had earnings of $766 million, or 42 cents per share, in the second quarter of 2021. It had a loss of $738 million, or 46 cents per share, in the same quarter a year ago. Adjusted earnings per share were $3.11, against a FactSet consensus of $3.08. AbbVie said its revenue jumped to $13.9 billion for the quarter, up from $10.4 billion in the same period a year ago. The...