Stocks moved sharply higher at the start of trading on Friday, extending the strong upward trend seen over the past two weeks. The major averages climbed firmly into positive territory, with the Dow reaching a new record intraday high.
Oil companies Exxon Mobil Corp. and Chevron Corp. on Friday reported financial results for the third quarter that beat analysts' estimates, helped by strong results at their refining segments that helped offset the impact of lower production as well as crude oil prices.
Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports.
Graf, previously known for his work leading Google Maps will retain his vice president of product title and work on Twitter's geolocation features, the Wall Street...
Consumer products maker Clorox Co. reported Friday a profit for the first quarter that declined from last year, despite sales growth, reflecting lower gross margins and higher losses from discontinued operations of Clorox Venezuela. Both adjusted earnings per share from continuing operations and quarterly sales topped analysts' expectations.
Personal spending in the U.S. unexpectedly decreased in the month of September, according to a report released by the Commerce Department on Friday, with the drop in spending accompanied by weaker than expected personal income growth.
Stocks are likely to jump sharply at the start of trading on Friday, extending the upward move seen over the course of the previous session. The major index futures are currently pointing to a substantially higher open for the markets, with the Dow futures up by 169 points.
Consumer and commercial products company Newell Rubbermaid, Inc. Friday reported a decline in the third-quarter profit, amid higher expenses and marginal increase in revenues. Normalized earnings beat analysts' expectations, while revenues came in below view. The firm reaffirmed its outlook for 2014, and 2015.
Eurozone inflation rose slightly in October but it remained consistently below 1 percent, signifying the risk of deflation in the currency bloc. At the same time, the unemployment rate held steady at an elevated level in September. Inflation rose marginally to 0.4 percent in October from 0.3 percent in September, flash data from Eurostat showed Friday.
Russia's central bank lifted its key rate sharply by a bigger-than-expected 150 basis points to counteract the slide in ruble and rising inflation. The Bank of Russia decided on Friday to raise its key rate to 9.50 percent from 8 percent. The bank was expected to hike its rate by 50 basis points. This was the fourth interest rate increase this year.
UK-based risk and insurance brokerage service provider Aon Corp. (AON) Friday said profit for the third quarter increased from the prior year, supported by higher revenues. Both earnings and revenues in the company's seasonally weakest quarter topped Wall Street expectations.
Hilton Worldwide Holdings, Inc. Friday reported a decline in the third quarter profit, reflecting higher expenses, despite growth in revenues. The hospitality firm also lifted its adjusted earnings per share outlook for full year 2014.
Trading in the U.S. index futures suggests that U.S. stocks may open notably higher, as the Bank of Japan's decision to expand monetary policy stimulus has set in motion large scale buying of risky bets across the global markets. Asian stocks ended notably higher earlier in the global trading day, while...
Camera maker GoPro Inc. (GPRO) has wowed investors with yet another strong quarter, reporting revenue and earnings well above its earlier projections.
Russia has agreed to resume gas supplies to Ukraine under a $4.6 billion dollar winter package, which will also secure gas for the European Union as the cold season approaches. The European Union has been mediating discussions to help find a sustainable solution to the dispute between Russia and Ukraine over gas pricing, supply and payment dues. After seven rounds of negotiations in recent months
Royal Bank of Scotland Group Plc Friday reported a profit for the third quarter compared with a loss last year, reflecting a rise in interest income, as well as impairment provision releases. The lender also set aside 400 million pounds, related to potential costs following investigations into the foreign exchange market.