As the cost of owning a home has skyrocketed over the last few years, some Americans are venting their frustrations by blaming the government for high housing prices. Nearly 90% of Americans said it’s too expensive to purchase a home right now, according to a survey of 1,386 people in the U.S., aged 46 and…
Union dockworkers at West Coast ports on Friday were accused by their employers of engaging in “concerted and disruptive work actions,” moves that threatened operations at some of the nation’s largest import hubs. The dockworkers’ union, the International Longshore & Warehouse Union, “is staging concerted and disruptive work actions that have effectively shut down operations…
Shares of Palo Alto Networks Inc. rallied in the extended session Friday after S&P Dow Jones said it would include the cybersecurity platform company’s stock in the S&P 500 index. Palo Alto Networks PANW, +0.21% shares surged as much as 5% in after-hours trading, following the announcement that Palo Alto Networks will replace Dish Network…
President Joe Biden on Friday hailed passage of a bipartisan deal to raise the U.S. debt limit and avoid a government default, addressing the nation from the Oval Office. “No one got everything they wanted, but the American people got what they needed,” the president said. “We averted an economic crisis and economic collapse.” Biden…
SentinelOne Inc.’s stock suffered its worst day since its initial public offering as the cybersecurity company struggles to find new business amid a tough business spending environment, prompting one analyst to downgrade the stock. Not only did SentinelOne shares S, -35.14% on Friday experience their worst one-day percentage drop ever, but also they nearly closed…
Shares of Verizon Communications Inc. dove toward a 12-year low Friday, after Bloomberg reported that Amazon.com Inc. was in talks with the company and some other wireless carriers about offering services — possibly for free — to Prime members. The report also pushed AT&T Inc.’s stock T, -3.83% toward the lowest close in nearly eight…
A blowout surge in May nonfarm payrolls isn’t denting expectations among fed-funds futures traders for policy makers to leave rates on hold this month — and that’s helping stocks rally sharply on Friday. Fed-funds futures traders priced in a 27.6% probability the Federal Reserve will lift its key rate by 25 basis points at its…
A new survey finds that 61% of us are more afraid of running out of money in our old age than we are of dying itself. Life insurance giant Allianz, which conducted the survey, found the result “remarkable,” but actually it sort of makes sense. Death is inevitable, running out of cash isn’t. And when…
The numbers: The U.S. added a muscular 339,000 new jobs in May, underscoring the resilience of the economy in the face of rising borrowing costs. Employment gains in April and March were also considerably higher than previously reported, the government reported Friday, in another sign the labor market remains unusually strong. Wall Street had forecast…
Here are some of the biggest movers in premarket trading Friday: Stock gainers: MongoDB Inc. shares MDB, +0.06% roared more than 25% higher in premarket trading Friday after the database-software company blew away expectations with its earnings and forecast delivered after Thursday’s closing bell. Shares of Lululemon Athletica Inc. LULU, -1.08% rallied nearly 15% after…
U.S. stock futures pointed to a higher open for Wall Street on Friday after a debt-ceiling bill cleared a final hurdle, and as investors turned their attention to jobs data that could help cement a pause in Federal Reserve interest-rate hikes. How are stock-index futures trading? S&P 500 futures ES00, +0.34% rose 14.25 points, or…
In a largely symbolic vote, Netflix Inc. shareholders on Thursday rejected lucrative compensation packages for the streaming company’s top executives. Netflix’s NFLX, +2.00% board had unanimously recommended the pay packages, and can overrule the vote the next time it meets. The Writers Guild of America, whose members are striking over issues that include pay, had…
The U.S. Senate voted 63-36 in favor of a crucial debt-ceiling bill on Thursday night, sending the measure to President Joe Biden to be signed into law. The Fiscal Responsibility Act, which the Republican-run House of Representatives approved on Wednesday night in a 314-117 vote, raises the ceiling for federal borrowing and avoids a market-shaking…
Bilibili’s shares fell in early Asian trading Friday, as investors weighed tepid near-term growth prospects even as the company’s bottom line improved in its latest quarterly results. Bilibili’s Hong Kong-traded shares HK:9626 were 3.3% lower at HK$120.00, bucking a rally in tech stocks in the Asian financial hub. The Hang Seng Tech Index was up…
Headline inflation may have come down over the past year, but consumers’ expectations about future inflation have not. In fact, five-year expected inflation has been inching up rather than down in recent months, according to the University of Michigan consumer survey. The median expectation is that inflation will run at a 3.1% annualized pace over…
SentinelOne Inc. shares dove more than 30% in after-hours trading Thursday, after the security-software company missed expectations with its financial results and executives slashed their annual guidance while planning layoffs. SentinelOne S reported a loss of $106.9 million, or 37 cents a share, on sales of $133.4 million, up from $78.3 million a year ago….
In a U.S. Senate Banking Committee hearing on Wednesday, Senator Elizabeth Warren brought up the use of crypto to fund trade in the opioid fentanyl between China and the United States. “Fentanyl is among the leading causes of death among Americans 18 to 45,” said Warren. “China is the leading supplier of chemical ingredients called…
Your diploma has been framed, the cap and gown are in storage, and you’ve been to more going-away parties than you can count. Now, where to focus that job hunt and narrow down where to live after graduation? If your destination wish list includes lots of culture, a smaller-town feel and football Saturdays (you’re never…
As aspiring homeowners contend with high mortgage rates, rising home prices, and a low number of homes for sale, the construction of single-family homes built deliberately to be rented is forging full steam ahead as investors bet on rentals. The number of newly built single-family homes being sold to investors to rent, or also known…
Gold prices rose for a third day on Thursday after the U.S. House voted on a debt ceiling bill late Wednesday with investors looking ahead to monthly labor market data due Friday. Price action Market drivers The U.S. House of Representatives voted 314-117 in favor of raising the federal debt-ceiling on Wednesday night, keeping Washington on…