Stock Market News: Dow’s losing week, Virgin Galactic, 3M, CarMax shares active
U.S. stocks head for a losing week after Federal Reserve Chairman Jerome Powell promised more rate hikes, Virgin Galactic shares fall after stock sale, 3M’s $10.3 billion settlement and CarMax surprises investors. This as the fallout from the doomed Titanic tour sub continues. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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India's Prime Minister Narendra Modi was welcomed by the CEOs of America's biggest companies at Thursday's state dinner.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| MMM | $102.94 | 2.52 | 2.51 |
Dow component 3M shares rose on Friday after disclosing a $10.3 billion settlement over what's known as "forever chemicals."
The settlement ends a legal headwind for the conglomerate tied to manmade, synthetic compounds, that tainted public water supplies, shown to pose significant risks to the environment and human health including causing health issues such a cancer.
"This is an important step forward for 3M, which builds on our actions that include our announced exit of PFOA and PFOS manufacturing more than 20 years ago, our more recent investments in state-of-the-art water filtration technology in our chemical manufacturing operations, and our announcement that we will exit all PFAS manufacturing by the end of 2025," said 3M chairman and CEO Mike Roman.
More troubling details emerge about the doomed Titan, the tour sub near the wreckage of the sunken Titanic deep in the Atlantic ocean.
Ford is preparing to cut another round of jobs, according to the Wall Street Journal. The move would be part of an ongoing effort to streamline operations. Ford declined to elaborate.
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