S&P and Nasdaq close at multi-week lows as Tesla, Alphabet weigh heavily

By David French (Reuters) -The S&P 500 and Nasdaq ended at multi-week lows on Wednesday, with the S&P snapping one of its longest streaks without a daily decline of more than 2%, as lackluster Alphabet and Tesla earnings undermined investor confidence in megacap names. As the first of the Magnificent Seven stocks reported quarterly numbers, […]

CrowdStrike shares tumble 13% on IT outage impact

(Reuters) -Shares of CrowdStrike plunged 13% on Monday, extending their loss-making streak, after Wall Street analysts downgraded the stock on concerns over the financial fallout from a global cyber outage last week. CrowdStrike’s glitchy update to its security software crashed computers powered by Microsoft’s Windows operating system, disrupting internet services across the globe and affecting […]

Global cyber outage hits air travel, leaving passengers in limbo

By Andrew Mills, Elena Rodriguez and David Shepardson EDINBURGH/MADRID/BALTIMORE (Reuters) -Air passengers worldwide faced delays, flight cancellations and headaches checking in as airports and airlines were caught up in a massive IT outage that has affected numerous industries ranging from banks to media companies. A software update by global cybersecurity firm CrowdStrike triggered systems problems […]

U.S. Banks Seeing Issues Again

(Reuters) – U.S. lenders’ second-quarter profits were squeezed by dampening loan demand and the high interest they paid to hold on to deposits, but a flurry of bond sales boosted their investment banking units. Citizens Financial, US Bancorp, First Horizon and Synchrony Financial all paid higher rates compared with a year earlier on their customers’ […]

Trump Media, gun stocks surge after assassination attempt

By Medha Singh, Noel Randewich (Reuters) -Crypto stocks, gun stocks and shares of other companies that could benefit from a Donald Trump presidency jumped on Monday after an assassination attempt on the Republican candidate boosted expectations he would win the November election. Trump’s survival after he was shot in the ear during a rally in […]

Musk donates to group working to elect Trump, Bloomberg reports

WASHINGTON (Reuters) -Billionaire Elon Musk, who has been ramping up criticism of U.S. President Joe Biden, has donated to a political group working to elect rival presidential candidate Donald Trump, Bloomberg reported on Friday, citing sources. The report did not indicate how much Musk donated but added it was “a sizable amount” given to a […]

Chevron and Hess say US FTC merger review expected for third quarter

By Sabrina Valle (Reuters) -Oil producers Chevron Corp and Hess Corp expect the U.S. Federal Trade Commission will review their proposed merger in the third quarter, the companies said in a statement on Thursday. Bloomberg News reported earlier on Thursday the FTC planned to delay its decision on whether to block Chevron’s $53-billion takeover of […]

Paramount Eyes Cost Cuts Amid Merger

By Dawn Chmielewski (Reuters) – CBS News President Ingrid Ciprian-Matthews will step down from her role amid a shakeup at media giant Paramount Global, which is set to merge with Skydance Media, according to internal memos seen by Reuters. Ciprian-Matthews, who was named as the president of Paramount’s news unit in August last year, will […]

Tech talk

S&P and Nasdaq close at multi-week lows as Tesla, Alphabet weigh heavily

July 24, 2024

By David French (Reuters) -The S&P 500 and Nasdaq ended at multi-week lows on Wednesday, with the S&P snapping one of its longest streaks without a daily decline of more than 2%, as lackluster Alphabet and Tesla earnings undermined investor confidence in megacap names. As the first of the Magnificent Seven stocks reported quarterly numbers, […]
Read More