If mutual funds are like mix tapes and exchange-traded funds are like the deejay machines that made an appearance in mall record stores for a few years, a financial-services innovation called direct indexing is Spotify or Pandora: personal, technological, disruptive, and even a little sexy.
Shares of Caterpillar Inc. fell on Friday, reversing early gains following the construction and mining equipment maker’s post-earnings conference call with analysts, in which the company provided a downbeat outlook with regard to dealer inventories.
U.S. stocks trade lower Friday, but were off their worst levels, with the technology-laden Nasdaq Composite looking likely to notch the first back-to-back decline since mid-May as investors turn their attention to a flare-up in Sino-American animosities while Republican Senators leave Washington for the weekend without obvious progress on another fiscal stimulus bill.
Boeing is slated to report second-quarter results Wednesday before the bell, giving Wall Street a clearer picture of the coronavirus pandemic’s impact on a company already beset with problems of its own making.
Intel Corp.’s stock faced one of its worst days in 20 years Friday after the chip giant divulged that its next generation of chips would be delayed and that it may seek a third-party manufacturer to make them.
Lockdowns caused a drop in demand for deodorant as locked-down consumers stayed indoors, but ice cream sales soared, Axe and Ben & Jerry’s owner Unilever said.
Gold futures on Friday scored a record finish, with prices up almost 5% for the week, as rising U.S.-China tensions and jitters about the economic outlook fueled haven-related demand for the precious metal.
“All we want is fair competition,” said Slack general counsel David Schellhase, who is asking the EC to “referee.” “Slack threatens Microsoft’s hold on business email, the cornerstone of Office, which means Slack threatens Microsoft’s lock on enterprise software.”
Billionaire hedge-fund manager Bill Ackman’s largest-ever “blank check” company went public Wednesday, with more than $4 billion in its kitty to acquire a yet-undetermined company, and it has two years to pick one.