Oil rebounded from recent losses on Wednesday, gaining more than 1 percent on perceptions that the price slide to 2017 lows prompted by economic worries has gone too far, too fast.
The S&P 500 slipped into the red on Monday, reversing course after having risen more than 1 percent earlier in the session and pushing the benchmark index closer toward bear market territory.
Short-seller Citron Research on Wednesday backed Facebook Inc, saying the stock could hit $160 in 2019 as the company’s revenue and user base have seen little impact from the reported data scandals and privacy issues this year.
Wall Street’s industry funded watchdog fined the U.S. brokerage unit of Morgan Stanley $10 million on Wednesday for compliance failures in the firm’s anti-money laundering program, the regulator said.
Russian aluminum company Rusal said on Wednesday that board chairman Matthias Warnig resigned as part of a restructuring it agreed to implement in exchange for a waiver from U.S. sanctions.
U.S. stocks rose modestly on Wednesday, boosted by technology shares and an Amazon-led jump in retailers, helping pull the S&P 500 from the brink of bear market territory following punishing few sessions.
The family of a man who was killed when a Lion Air flight crashed in October has sued Boeing Co , alleging the 737 MAX 8 aircraft was “unreasonably dangerous” and demanding a jury trial in Chicago, where the U.S. manufacturer is based.
U.S. stocks opened higher on Wednesday, led by technology and retail shares, after a punishing few sessions left the benchmark S&P 500 on the brink of bear market territory.
Russian aluminum giant Rusal said on Wednesday that Matthias Warnig, chairman of its board of directors, had resigned as part of a restructuring process the company agreed to implement so that the U.S. Treasury can remove it from the sanctions list.
Wall Street was set to rise at open on Wednesday, indicating a slight respite after a punishing few sessions that left the S&P 500 on the brink of bear market territory on worries over slowing growth and the recent drama in the White House.
Exxon Mobil Corp said on Wednesday its oil drilling and development activities offshore Guyana were unaffected despite neighboring Venezuela’s navy stopping two seismic survey vessels the company had hired.
Sales during the U.S. holiday shopping season rose 5.1 percent to over $850 billion in 2018, the strongest in the past six years, according to a Mastercard report, as shoppers were encouraged by a robust economy and early discounts.
Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA.
Iran said on Wednesday private exporters have had “no problems” selling Iranian oil, and 3 million barrels of crude could be sold soon to non-government traders, state media reported, despite U.S. sanctions targeting Tehran’s oil sales.
U.S. stock futures rose on Wednesday, indicating a slight respite after punishing few sessions that have pushed the S&P 500 near bear market territory on worries over slowing growth and the recent drama in the White House.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
