By Laura Cooper July 3, 2022 9:03 a.m. ET Listen to articles (2 minutes) Investment banks are facing big losses on leveraged buyouts they agreed to finance before markets soured, further chilling the outlook for deal activity. Bank of America Credit Suisse Group and Goldman Sachs Group Inc. are among the banks that could collectively … Read more
General Motors Co. said it built about 95,000 vehicles without certain semiconductors and other parts and had to set the cars aside instead of shipping them to dealers, weighing on its second-quarter results. The company said the hit to wholesale vehicle deliveries would hurt second-quarter net profit, which it now expects to be between $1.6 … Read more
US stock futures drifted lower at the start of the second half of the year, with investors bracing for more volatility amid heightened inflation and expected interest-rate increases. Futures for the S&P 500 shed 0.6% Friday. The broad index closed out Thursday lower, heaping on additional losses to mark the worst first half of the … Read more
Elon Musk is on his longest stretch without posting on Twitter in nearly five years, a nine-day hiatus that comes in the midst of tumultuous efforts to complete his planned $44 billion deal to buy the platform. The billionaire chief executive of Tesla Inc. TSLA, -1.76% last posted on June 21, marking Thursday as the … Read more
Elon Musk is on his longest stretch without posting on Twitter in nearly five years, a nine-day hiatus that comes in the midst of tumultuous efforts to complete his planned $44 billion deal to buy the platform. The billionaire chief executive of Tesla last posted on June 21, marking Thursday as the most extended silence … Read more
US stocks were mixed on Wednesday as investors digested comments from central bankers at a panel in Europe and looked toward another round of quarterly earnings reports. The S&P 500 fell 0.3%, after the broad-market index closed down 2% on Tuesday. The Nasdaq Composite Index was down 0.3%, while the Dow Jones Industrial Average edged … Read more
US stock indexes pushed higher after a wobbly start Wednesday, leaving Wall Street potentially on to gain ground after back-to-back losses, as investors tune in to remarks by central bankers while fretting that soaring inflation is damaging the world’s biggest economy. How are stock indexes trading? The Dow Jones Industrial Average DJIA was up 196 … Read more
WASHINGTON—A Taiwan-based company said it plans to build a $5 billion factory in Texas to make silicon wafers used in semiconductors, but the deal hinges on financial incentives bogged down in Congress. Global Wafers on Monday said its planned factory in Sherman, Texas, would be the first US silicon wafer-facility in more than two decades … Read more
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Stocks rallied after fresh economic data tempered investors’ expectations of aggressive Federal Reserve interest-rate hikes, giving the S&P 500 its first weekly gain in the last four weeks. The Dow Jones Industrial Average surged 826 points, or 2.7%, while the S&P climbed 3.1%. The technology-heavy Nasdaq Composite added 3.3%. .