Business & Finance News
U.S. stocks rose on Wednesday, with the Dow Jones Industrial Average at an all-time high, driven by gains in financial and technology stocks.
The U.S. dollar gained on Wednesday as data supported the view that the U.S. economy is in strong shape and as concerns about Italy’s budget negotiations continued to weigh on the euro.
Honda Motor Co Ltd will invest $2 billion and take a 5.7 percent stake in General Motors Co’s Cruise self-driving vehicle unit, extending cooperation between the two automakers in a technology that has enormous costs and risk but no market-ready products.
Oil slipped on Wednesday, retreating from session peaks near a four-year high as top exporter Saudi Arabia said it increased output and after Reuters reported that Russia and Saudi Arabia had struck a deal to pump more.
U.S. stocks rose at the open on Wednesday, with the Dow Jones Industrial Average hitting a record high, as financial stocks gained from a rebound in European markets.
North American orders for Class 8 semi-trucks jumped 92 percent in September as trucking companies continued to struggle with tight capacity in a booming U.S. freight market, FTR, a company that tracks the industry, said on Wednesday.
U.S. private payrolls recorded their biggest increase in seven months in September, boosted by hiring at construction sites and in the services sector, pointing to sustained labor market strength that should continue to underpin economic growth.
Wall Street was set to open higher on Wednesday, buoyed by a rebound in European markets after Italy indicated that it was open to reducing budget deficits and debt in the coming years.
Oil traded near a four-year high on Wednesday, retreating from session peaks as top exporter Saudi Arabia said it increased output and after Reuters reported that Russia and Saudi Arabia had struck a deal to pump more.
U.S. interest rates could plateau for a while once they have risen to a level we they become mildly restrictive for the economy, Federal Reserve policy maker Charles Evans said on Wednesday.
The dollar strengthened against other major currencies on Wednesday after a top U.S. policymaker said inflation expectations haven’t gone up as much as he would have liked and he was comfortable with a December rate hike.
Goldman Sachs has raised its stake in Spanish supermarket chain DIA to 15.8 percent from 14.5 percent, a regulatory filing showed shortly after the discounter’s main shareholder disclosed it had raised its own holding close to the legal threshold for a full takeover bid.
Honda Motor Co Ltd will invest $2 billion over 12 years in General Motors Co’s Cruise autonomous vehicle unit after paying $750 million for a stake in the project, seen as among the leaders in self-driving car development.
Dell Technologies Inc confirmed on Wednesday it had met with some investment banks to explore an initial public offering if its plan to buy the tracking stock of VMware Inc falls through.
European shares rose and Italian bonds rallied on Wednesday as some of the worries that have rippled across markets this week were soothed by signs Rome was amenable to cutting budget deficits and debt in coming years.
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