Tag: economy
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Wall Street slips; indexes still near record highs
The Nasdaq hit a record high earlier in the session, helped by a rise in Microsoft and other big tech stocks. U.S. stocks had been on a tear since Donald Trump's surprise victory in the presidential election last week as his proposals to increase infrastructure spending and reduce taxes are seen benefiting the economy. The…
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With weak earnings in tow, focus turns to jobs data
Coming off a barrage of flimsy company earnings reports that included Apple's first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter. U.S. nonfarm payrolls, unemployment and wages data are due Friday May 6, when the economy is expected to…
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Yen spikes to 18-month peak, Amazon softens Apple blow
The yen surged to an 18-month peak on Friday as investors wagered the Bank of Japan might be done adding fresh stimulus to the economy, hurting prospects for Japanese exporters with a move that rippled through share markets across the Asian region. Perhaps taking advantage of Japan's absence for a holiday, speculators smashed through the…
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Wall Street pushed higher by healthcare, energy stocks
The collapse of the $160 billion merger of Pfizer and Allergan bolstered the healthcare sector on rising hopes that the pharmaceutical giants could turn to smaller targets. A seven-week rally – sparked by rising oil, strength in the economy and a cautious Fed – helped stocks recover from a steep selloff that had sent the…