U.S. stocks were rebounding sharply on Wednesday, fueled by an Amazon-led surge in retail shares after a steep slide for equities had put the S&P 500 on the brink of a bear market.
U.S. stocks shrugged off a faltering start to rise over 2 percent on Wednesday, as a rebound in technology shares and an Amazon-led jump in retailers put the market on pace to snap a four-session losing streak.
India will ban e-commerce companies such as Amazon.com and Walmart-owned Flipkart Group from selling products from companies in which they have an equity interest.
Oil surged on Wednesday, erasing some of the steep losses that have taken crude benchmarks to lows not seen in 1-1/2 years on perceptions the price slide has gone too far, too fast.
U.S. stocks were attempting a modest rebound on Wednesday, boosted by technology shares and an Amazon-led jump in retailers, following four sessions of steep losses that pushed the S&P 500 and Dow Industrials near bear market territory.
Stocks and oil prices rebounded on Wednesday as the Trump administration attempted to shore up confidence and markets welcomed a report on strong U.S. holiday spending.
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.
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