U.S. stocks edged higher on Monday, with the S&P 500 and the Nasdaq hitting record highs, as consumer spending rose in March and a benign inflation data underscored the Federal Reserve’s dovish stance on interest rates.
Slowing inflation may lead the Federal Reserve to cut interest rates, White House economic adviser Larry Kudlow said in a television interview on Monday.
Airbnb will be ready for an initial public offering later this year, the home-renting company’s chief executive officer told CNBC on Monday.
Anadarko Petroleum Corp said on Monday it would negotiate with Occidental Petroleum Corp over its $38 billion cash-and-stock bid, after determining it could get a better deal than its agreed $33 billion sale to Chevron Corp.
Global shares edged higher on Monday as the S&P 500 touched an intraday record after a jump in U.S. consumer spending helped offset a weak euro zone sentiment survey and political uncertainty in the wake of Spain’s elections.
The U.S. Securities and Exchange Commission on Monday obtained an asset freeze in connection with suspected fraudulent trading in Anadarko Petroleum Corp before the oil company agreed to be acquired by rival Chevron Corp.
Oil prices steadied on Monday, after a weeks-long rally was halted on Friday when the market tumbled after U.S. President Donald Trump demanded that producer club OPEC raise output to soften the impact of U.S. sanctions against Iran.
The S&P 500 and the Nasdaq edged up to their highest intraday levels ever on Monday after data showed U.S. consumer spending surged in March, but gains in shares remained muted as investors waited for a fresh batch of earnings reports.
Makan Delrahim, the head of the U.S. Justice Department’s Antitrust Division, said on Monday that there had been no decision made on whether to approve the merger of Sprint and T-Mobile but that meetings on the matter continued.
Boeing Co Chief Executive Dennis Muilenburg tried to bolster shareholder confidence in the company on Monday in his first general meeting since two fatal crashes of the 737 MAX triggered the jet’s grounding, lawsuits and investigations.
Amazon’s promise of one-day shipping threatens to upend the retail sector, but its rivals’ physical stores give the likes of Walmart and Target powerful assets that Amazon itself is scrambling to match.
Uber Technologies Inc Chief Executive Dara Khosrowshahi sought to persuade money managers in London that the loss-making ride hailing firm’s growth plans justified a valuation of up to $91.5 billion in an initial public offering (IPO).
The S&P 500 and the Nasdaq hit record highs on Monday after data showed U.S. consumer spending surged in March, but gains in shares remained muted as investors waited for a fresh batch of earnings reports.
An influential Hindu nationalist group with close ties to Prime Minister Narendra Modi’s ruling Bharatiya Janata Party (BJP) has accused PepsiCo Inc of coercing four Indian farmers who have been sued by the U.S. company for allegedly infringing a patent.
Spotify Technology SA, the world’s leading streaming platform, said on Monday it had hit 100 million paid subscribers as it reported a better-than-expected rise in first-quarter revenue.
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