By Zijia Song and Katherine Doherty From Bloomberg News Wall Street leaders turned up their noses when Bitcoin exploded onto the scene more than a decade ago. Now they’re paying sweet premiums to crypto recruits, amassing an army of enthusiasts within the traditionally staid realm. Some of the biggest banks and financial firms have added…
Wall Street Mixed Ahead of Federal Reserve’s Policy Meet
November 1, 2021
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U.S. stock indexes eased from intraday record highs on Monday, dragged down by Microsoft and other mega-cap technology stocks, while data showed U.S. manufacturing activity slowed in October amid supply chain disruptions. All the major indexes had scaled new peaks earlier in the session, with the blue-chip Dow hitting 36,000 points for the first time….
Wall Street Rally, Japan Election Drive Asian Shares Higher
November 1, 2021
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Stocks advanced in Asia on Monday, with Tokyo’s benchmark up 2.2 percent after the ruling Liberal Democrats won a stronger than expected majority in an election Sunday. Shares rose in all regional markets except Hong Kong. The regional gains followed further milestones on Wall Street, where the three major indexes set records. The S&P 500…
Wall Street Shakes Off Amazon, Apple Weakness to End Modestly Higher
October 30, 2021
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NEW YORK—U.S. stocks shook off early declines and closed out the last trading day of the month with modest gains on Friday as a rise in Microsoft helped offset declines in Amazon and Apple after disappointing quarterly earnings from the online retailer and iPhone maker. Microsoft Corp.’s shares closed at a record high of $331.62…
World Shares Retreat, Chilled by Decline on Wall Street
October 28, 2021
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Shares slipped Thursday in Europe and Asia after a retreat on Wall Street pulled the S&P 500 and the Dow Jones Industrial Average back from their latest record highs. Shares fell in London, Frankfurt, Tokyo, and Shanghai but rose in Paris. A steady flow of corporate report cards continues Thursday with industrial bellwether Caterpillar and…
Wall Street Opens Higher After Upbeat Earnings Reports
October 27, 2021
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U.S. stock indexes opened slightly higher on Wednesday, helped by a fresh batch of upbeat earnings reports. The Dow Jones Industrial Average rose 78.55 points, or 0.22 percent, at the open to 35,835.43. The S&P 500 opened higher by 5.43 points, or 0.12 percent, at 4,580.22, while the Nasdaq Composite gained 40.29 points, or 0.26…
Coca-Cola Third-Quarter Earnings Top Analysts’ Estimates, Promoting It to Increase Its Annual Outlook
October 27, 2021
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Coca-Cola’s fiscal third-quarter earnings and sales exceeded Wall Street analysts’ estimates on Wednesday thanks to an improvement in its away-from-home channels such as restaurants, cafes, and cinemas, prompting it to increase its annual outlook again. In a press release, Chairman and CEO James Quincey said that Coca-Cola’s strategic transformation had allowed it to emerge from the pandemic as a stronger…
Xi Jinping a Game Changer for China–Wall Street Cooperation
News Analysis The Chinese regime under Xi Jinping recently disciplined a number of private companies that have close ties with Xi’s political opponent, the Jiang Zemin faction. The series of crackdowns caught Wall Street by surprise. China’s ride-hailing giant Didi was punished by the authorities soon after it went public in the United States, causing…
Xi Jinping’s Private Sector Crackdown Catches Wall Street Off Guard
News Analysis The Chinese regime under Xi Jinping recently disciplined a number of private companies that have close ties with Xi’s political opponent, the Jiang Zemin faction. The series of crackdowns caught Wall Street by surprise. China’s ride-hailing giant Didi was punished by the authorities soon after it went public in the United States, causing…
Wall Street Profits Soar Despite Accelerated Job Losses During Pandemic
October 22, 2021
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While Wall Street profits hit near-record highs in the first half of 2021, New York City’s securities companies continue losing jobs at an accelerated pace according to a report released on Thursday. Wall Street profits surged in the first half of 2021 to $31 billion in pre-tax earnings beating an already outsized first half of…
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