In Finance

  • Coronavirus tally: Global death toll tops 3 million as case tally climbs above 140 million

    The global death toll from the coronavirus-borne illness COVID-19 rose above 3 million on Saturday, according to data aggregated by Johns Hopkins University, as the case tally climbed above 140 million. The U.S. leads the world in cases and deaths by wide margins, with 31.6 million cases and 566,238 deaths. The U.S. added at least 78,932 new cases and 940 new deaths on Friday, according to a New York Times tracker. The U.S. has averaged 70,117 cases a day in the past week, up 8% from the average...


  • Elon Musk's SpaceX wins $2.9 billion NASA moon landing contract

    Privately held Space Exploration Technologies Corp., or SpaceX, was selected by NASA on Friday to move forward in developing a human landing system to carry the next two U.S. astronauts to the moon "and pave the way for sustainable lunar exploration." That's under NASA's Artemis program, which aims to return humans on the moon, collaborating with commercial and international partners, and eventually send astronauts to Mars. Elon Musk is chief executive on SpaceX as well as Silicon Valley...


  • Dow, S&P 500 log back-to-back record closes to end strong week for stocks, buoyed by strong economic data, earnings

    U.S. stocks on Friday finished the week on a strong note, with the Dow and S&P 500 posting their second consecutive closing records and the Nasdaq Composite ending within a stone's throw of its record. Bullish investors point to a strong start to earnings season from the likes of JPMorgan Chase & Co. and Goldman Sachs Group coupled with blowout economic reports, notably a 10% rise in retail sales in March and weekly jobless claims figures falling to a pandemic low. Further helping lift...


  • Dow transports set to eke out the longest weekly win streak in 32 years

    The Dow Jones Transportation Average was rising 0.1% in afternoon trading Friday, and looks set to eke out the longest weekly gain since the late-1980s. The Dow transports has edged up 0.2% this week, which would mark the 11th-straight weekly gain. That would be the longest such streak since the 11-week stretch that ended Feb. 3, 1989. The index has run up 23.6% during its weekly win streak. In comparison, its sister index the Dow Jones Industrial Average was up 1.2% this week and was headed...


  • Oil futures end lower for the session, up over 6% for the week

    Oil futures fell on Friday, pulling back on the heels of four consecutive session gains, but finished the week up by more than 6%. Forecasts for higher oil demand and declines in U.S. crude inventories contributed to the weekly price climb. May West Texas Intermediate crude fell 33 cents, or 0.5%, to settle at $63.13 a barrel on the New York Mercantile Exchange. Prices for the front-month contract logged a weekly rise of 6.4%, according to FactSet data.

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  • Squarespace files for direct listing

    Squarespace Inc. filed paperwork Friday for a direct-listing that would enable shares of the website-design company to trade on the New York Stock Exchange without the company raising money through a traditional initial public offering. Squarespace, which makes tools for building and hosting websites, generated revenue of $621.1 million in 2020, up from $484.8 million in 2019. The company is profitable but saw its net income decline to $30.6 million in 2020 from $58.2 million a year earlier....


  • Gold futures climb 2% for the week

    Gold futures settled higher on Friday, with prices getting a boost from a weekly decline in U.S. Treasury note yields, which helped prices for the precious metal post a gain of about 2% from a week ago. June gold rose $13.40, or 0.8%, to settle at $1,780.20 an ounce. That was the highest finish for a most-active contract since Feb. 24, according to FactSet data.

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  • Baker Hughes data show U.S. oil-drilling rigs up by 7 for the week

    Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 7 at 344 this week. The total active U.S. rig count, which includes those drilling for natural gas, was also up by 7 at 439, according to Baker Hughes. May West Texas Intermediate crude continued to pull back after four consecutive session gains. The contract was down 18 cents, or 0.3%, to $63.28 a barrel on the New York Mercantile Exchange.

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  • Biomea Fusion stock opens 18% above IPO price

    Biomea Fusion Inc. rallied out of the gate Friday, as shares of the California-based biopharmaceutical company focused on treatment of genetically defined cancers opened 17.6% above the initial public offering price. The company said late Thursday its IPO, which was upsized to 9.0 million shares from 7.5 million shares, priced at $17 a share, at the top of the expected range, as it raised $153 million and was valued at $463.6 million. The stock's first trade was at $20.00 at 11:51 a.m. Eastern...


  • Homebuilder stocks in broad rally to records after big jump in housing starts data

    The homebuilder sector enjoyed a unanimous rally toward a record Friday, after data showing that new-home construction in March surged more than expected. the SPDR S&P Homebuilders ETF rallied 1.6% toward a record close, with all 35 equity components gaining ground. Among the more active homebuilders, shares of Toll Brothers Inc. climbed 1.9% and D.R. Horton Inc. hiked up 2.3%, both into record territory, while Lennar Corp. advanced 1.0%, in range of its April 9 record close of $105.52....


  • White House announces $1.7 billion in funding to track, fight COVID variants

    The Biden administration will invest $1.7 billion to help states and the Centers for Disease Control and Prevention track and fight COVID-19 variants, the White House announced Friday. The money is from the COVID-relief law enacted last month, and includes $1 billion for expanding genomic sequencing; $400 million for studying genomic epidemiology; and $300 million for a system for sharing and analyzing sequencing data. The administration says "new and potentially dangerous strains" of the virus...


  • CDC committee to meet again on April 23 to discuss J&J's COVID-19 shot

    A Centers for Disease Control and Prevention's advisory committee is scheduled to meet for a second time on Friday, April 23, to discuss rare safety concerns about Johnson & Johnson's COVID-19 vaccine. Of the 6.8 million people in the U.S. who have received the J&J's shot, six women have been hospitalized with severe blood clots after receiving the vaccine. As a result, federal health officials recommended a "pause" in using the vaccine, a decision that was extended when the CDC's...