S&P 500, Dow retreat as focus turns to Fed; Nasdaq hits fresh high
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks countered a boost from the technology sector, with focus now shifting to the Federal Reserve’s first projections on the economy since the coronavirus outbreak.
J&J moves up start of coronavirus vaccine human trials to July
Johnson & Johnson moved up the start of human clinical trials for its experimental vaccine against the highly contagious coronavirus by two months to the second half of July, as the drugmaker rushes to develop a prevention for COVID-19, the company said on Wednesday.
U.S. attorney general group sues 26 dermatology drug makers
A group of attorneys general from U.S. states and territories sued 26 manufacturers of dermatology drugs on Wednesday, accusing them of price fixing and other violations of antitrust law, the third such lawsuit since 2016.
Boeing aims for key 737 MAX certification flight in late June: sources
Boeing Co is aiming to conduct a key certification test flight on its grounded 737 MAX jet in late June, two people briefed on the matter said on Wednesday.
A casino or stock market? Retail buying frenzy goes wild
A raft of small cap stocks has soared by hundreds of millions of dollars in value in recent weeks as frenzied retail traders piled in to a blistering stocks rally.
Global risk rally has a powerful ally: the weaker dollar
Investors are betting a weaker U.S. dollar will further boost a rally that has seen stocks, emerging market currencies and other risky assets soar in recent weeks.
S&P 500, Dow retreat ahead of Fed outlook; Nasdaq hits new high
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve’s first projections on the economy since the coronavirus outbreak.
Number of U.S. air passengers fell 96% in April to historic low: government
U.S. airlines carried 3 million passengers in April, a staggering 96% decline from April 2019 amid the coronavirus pandemic and flight restrictions, the Transportation Department said on Wednesday.
UK watchdog extends deadline for final ruling on Amazon’s Deliveroo deal
Britain’s competition regulator has given itself two more months to make a final ruling on Amazon’s purchase of a minority stake in online delivery group Deliveroo so it can take full account of representations from all interested parties.
Oil slides below $41 as U.S. inventory rise revives glut worries
Oil fell more than 2% to below $41 a barrel on Wednesday after U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand during the lingering coronavirus crisis.
