STOCK MARKET NEWS: Disney slams Peltz, Goldman’s tough quarter, Elon Musk in court

Wall Street traders

U.S. stock futures are up across the board midweek as commodities rise and oil clears $81 a barrel.  

The Dow Jones Industrial Average futures is up roughly 61 points, or 0.18%, while the S&P and Nasdaq futures are up approximately 0.32% and 0.37%, respectively.

On the year, the Dow is up around 2.30%, the S&P is up around 4%, and the tech-heavy Nasdaq is now roughly 5.71% higher over the same time.  

In commodities, West Texas Intermediate crude futures spiked 2.01% to $81.79 a barrel, as gold added 0.49% to $1,919.30 an ounce.

MARKETS

Goldman Sachs shares sink after brutal quarter

Investors are selling shares of Goldman Sachs after the bank reported a drop in quarterly profits.

Goldman Sachs reported a drop in quarterly profits while expenses rose creating more operational headwinds for the firm amid a weak deal making environment.

The stock is on pace for the worst session since January 2022 when it lost nearly 7%.

TECHNOLOGY

US hit 'turning point' with China: Intel CEO

Intel CEO Pat Gelsinger praises the CHIPS and Science Act for advancing the U.S. semiconductor industry to compete with China while at the World Economic Forum.

Intel CEO Pat Gelsinger says the U.S. in a good place to take on China in the battle for semiconductor dominance.

There may be fresh headwinds on the horizon for U.S. stocks based a new survey from Bank of America.

ECONOMY

Fund managers most underweight on US stocks since 2005: Bank of America survey

Investors' allocation to U.S. stocks tumbled in January to the lowest level since 2005, according to a new Bank of America survey published on Tuesday.

LIFESTYLE

Amazon begins cutting 18,000 workers in its biggest layoffs ever

Andy Jassy announced that Amazon employees impacted by its largest layoff in history will start to get notified Wednesday. The company plans to lay off just over 18,000 people.

Amazon is about to slash thousands of workers in the company's biggest workforce reduction in history.

Disney is pushing back against activist investor Nelson Peltz who, just last week, said the media giant is in "crisis"...

MARKETS

Disney pushes back on Nelson Peltz

Disney is taking off the gloves in its battle with activist Nelson Peltz, who says the media giant needs to restore its magic.

FEATURES

More insurance companies pull out of Louisiana: 'We are in a crisis'

Thousands of Americans living in the southern United States no longer have home insurance due to companies leaving the region after years of crushing storms.

Insurance companies are bailing on the state of Louisiana leaving customers holding the bag.

After a string of travel mishaps, the Federal Aviation Administration is under fire right, along with President Biden's top choice to run the organization.