The dollar recovered from early weakness but a gauge of world equity performance edged lower on Thursday as concerns about global growth offset investor optimism over a surge in U.S. retail sales last month and strong Walmart earnings.
The S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering U.S.-China trade tensions.
Yesterday, shares of The RealReal (Nasdaq: REAL) sold off sharply after the company reported earnings. The RealReal moved higher at the market open, up around 10%, then headed lower as the Dow Jones Industrial Average fell by more than 800 points.
The RealReal is a high-end consignment operation that has a huge online presence. The San Francisco-based company reported total revenue for the second quarter jumped 51% from a year earlier to $71 million, which was above the FactSet consensus forecast of $70.1 million. The company’s gross merchandise volume increased 40% to $228.5 million.
The company IPO’d at the end of June …read more […]
Cosmetics maker Revlon Inc has tapped Goldman Sachs Group Inc to explore options for its business, Bloomberg reported on Thursday, citing people familiar with the matter.
American Airlines Group Inc and Southwest Airlines Co are bumping thousands of passengers off airplanes after their Boeing 737 MAX fleet’s was grounded in mid-March following two fatal crashes.
General Electric Co shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE’s new CEO.
Wall Street seesawed from red to black and back on Thursday as recessionary fears and simmering U.S.-China trade tensions offset upbeat retail sales data.
The World Trade Organization (WTO) on Thursday adopted final findings against U.S. duties imposed on a range of Chinese imports, effectively giving Beijing a green light to seek compensatory sanctions.
In the U.S., cannabis was a patent medicine during the 19th and early 20th centuries. It was first described in the United States Pharmacopeia in 1850.
It’s a plant older than humanity. Unfortunately, it got caught up in some bad publicity.
It was demonized in the Marihuana Tax Act of 1937. By 1942, cannabis was struck from the Pharmacopeia. And penalties for possessing marijuana increased in 1951, 1956 and 1970 with the Controlled Substances Act.
But the end of nearly a century of prohibition is winding down. Cannabis has found a new lease on life today.
I’m pleased to share with you the second …read more […]
General Electric Co Chief Executive Larry Culp said on Thursday that a report alleging GE was hiding financial problems was “market manipulation – pure and simple.”
Canopy Growth Corp said on Thursday it expects another three to five years to turn in a profit as Canada’s largest cannabis company invests heavily to diversify and expand.
The U.S. Commodity Futures Trading Commission (CFTC) said on Thursday Kraft Heinz Co and Mondelez International Inc will have to pay $16 million in penalty regarding a wheat manipulation case that dates back to 2015.
General Electric shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems.
U.S. 30-year Treasury yields fell to a record low below 2% and benchmark 10-year notes dropped to a three-year trough on Thursday amid persistent worries about global trade tensions and economic slowdowns around the world.
U.S. retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, helping to assuage financial market fears that the economy was heading into recession.
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