The outlook: While the economy was growing at a moderate pace in November, businesses were raising prices at a rapid clip across a broad swath of the economy , according to the Fed’s latest Beige Book survey released Wednesday. “Prices rose at a moderate to robust pace, with price...
UPDATE: Please scroll to the bottom for an answer to this mystery… Listen, mistakes happen all the time, even in the highest echelons of finance. Someone fat-fingers a keystroke and few zeroes get added to a buy or sell order, or a trading-floor intern drops coffee on a...
Stocks erased early gains, ending sharply lower Wednesday after the first confirmed U.S. case of COVID-19 caused by the omicron variant was found in California. The Dow Jones Industrial Average DJIA, -1.34% fell around 462 points, or 1.3%, to close near 34,022, according to preliminary figures --- a pullback...
Square Inc. is joining the corporate-name-change party, announcing Wednesday that it plans to become known as Block as it looks for a moniker that better reflects its diversified set of businesses. While the financial-technology company got its start offering payment-processing services to small businesses under the Square SQ,...
Walt Disney Co.'s DIS, -1.90% board of directors on Wednesday said it has elected Susan Arnold to succeed Robert Iger as chairman, effective Dec. 31. Arnold, a 14-year member of the Disney board, previously was an operating executive at equity investment firm The Carlyle Group CG, -1.85% from 2013...
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The numbers: A closely followed index of U.S.-based manufacturers rose to 61.1% in November from 60.8% in the prior month, the Institute for Supply Management said Wednesday. That matched the forecast of economists polled by The Wall Street Journal. Any number above 50% signifies growth. This is the...
A rise for U.S. stock benchmarks was gaining momentum Wednesday morning, following the previous session’s selloff, which was partly triggered by expectations for faster Federal Reserve tapering as well as worries surrounding the omicron variant of coronavirus.How are stock-index futures trading? The S&P 500 index SPX, +1.58% rose...
Square Inc. Chief Executive Jack Dorsey will have more time to focus on the payments company now that he’s stepping down from the CEO post at Twitter Inc., and that has one analyst feeling better about Square’s stock. Bank of America analyst Jason Kupferberg upgraded Square’s stock SQ,...
The omicron variant of the coronavirus could lead to more infections among vaccinated people but they will most likely remain protected from a severe course of illness, according to the inventor of one of the first Covid-19 vaccines. While the new variant might evade the antibodies generated in reaction...