Stock Market News: GameStop CEO out, Nasdaq slips, Canadian wildfires rock East Coast
U.S. stocks inching closer to a bull market, Treasury Secretary Janet Yellen weighs in on economy, Coinbase and cryptos, Google’s big AI move, Tesla models eligible for tax credits and Netflix’s password crackdown pays off. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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| Symbol | Price | Change | %Change |
|---|---|---|---|
| GME | $26.11 | 1.41 | 5.71 |
Photos: Wikipedia Commons / Getty Images CC BY-SA 2.0
Gamestop has fired its CEO Matt Furlong, effective immediately. No reason was cited.
Ryan Cohen, pictured here, who is the company's largest independent shareholder via his RC Ventures will assume the role.
Cohen also founded Chewy.com.
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Smoke and haze blanketed New York and New Jersey threatening flights out of airports in the region. The FAA issued a ground stop for LaGuardia Airport. while Newark International warned of delays. Fox Weather is following the latest on the worsening air conditions.
The S&P 500, the broadest measure of the U.S. stock market, is flirting with exiting the bear market its been in for a year. The benchmark needs to close with gains of at least 8.59 points.
Netflix: AP Photo/Jenny Kane
Netflix shares jumped after two firms, JPMorgan and Wells Fargo, lifted price targets. Wells Fargo now sees the potential for shares to reach $500 - the highest target among Wall Street firms. The firm cited the adversting market as a tailwind.
Bitcoin trading remains choppy after the Securities and Exchange Commission sued crypto exchange Coinbase. Even with the volatility prices are up 62.8% YTD but still down by roughly the same amount from its all-time high of $67,802, as tracked by Dow Jones Market Data Group.
The commerical real estate market is showing cracks as several billionaires sound the warning alarm on what it means for the U.S. economy.
JPMorgan CEO Jamie Dimon sounded off on the dysfunctional U.S. policies on China after he recently returned from a trip to the country expanding his banking empire.
Several Tesla models are eligible for tax credits according to an update on the automaker's website.
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