S&P 500, Dow Erase Early-Year Losses
U.S. stocks rose, with the Standard & Poor’s 500 index turning positive for 2016 in the wake of a dovish Federal Reserve that helped the gauge post its longest weekly winning streak since November. The equity benchmark joined the Dow Jones Industrial Average to advance for the year, staging one of the biggest turnarounds in history. The Dow surged 12 percent in 24 days through Thursday, boosted by seven separate daily advances...
Twitter Shares Tumble
San Francisco — The recent negativity shown toward many Internet companies hit Twitter hard Monday, as the social-media leader’s stock price fell to its lowest level ever ahead of its upcoming quarterly earnings report. Shortly after trading began, Twitter shares fell more than 5 percent, to $14.87, hitting their lowest point since the company went public in November 2013. The losses added to Twitter’s stock-price downfall, which has...
Dow Marks Longest Slump Since 2011
New York — U.S. stocks fell Friday, with the Dow Jones industrial average posting its longest slide since 2011, amid declines in commodity producers while data showed continued progress in the labor market. Energy companies dropped as oil sank to a four-month low, while raw materials fell the most in two weeks. Hershey slid 2.7 percent after quarterly revenue missed estimates. American Express rallied 6.3 percent as an activist fund...
S&P 500 Trims Monthly Advance
New York — The Standard & Poor’s 500 Index pared its best monthly gain since February after disappointing results from Exxon Mobil and Chevron Corp. Energy shares fell the most since January as Exxon and Chevron slumped at least 4.5 percent. LinkedIn tumbled 10 percent amid concerns growth is slowing in its main business. Amgen rallied 2.9 percent and Expedia jumped 13 percent on better-than-estimated earnings. Coca-Cola...
Chinese Firms Ride Stock Market Roller Coaster
When the Chinese advertising firm Shanghai Longyun — whose name means dragon rhyme — went public on March 24, the stock market was on fire. The company was a family affair. The chairman, Duan Peizhang, and his wife, Fang Xiaoqin, who studied Chinese medicine and worked at a provincial food and drug bureau, held more than half the shares. Other direct and indirect investors included Duan’s brother, nephew, sister-in-law and some other...
