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Breaking News

S&P back above 4,500 level as stocks see broad rally

I:DJI$34,807.46 +254.47+0.74%

The tech-heavy Nasdaq Composite led a broad rally on Wall Street that lifted the S&P 500 back above 4,500 - last hit in February. The Dow Jones Industrial Average also tacked on over 254 points.

Posted by FOX Business Team

Walmart, Kroger store-branded pancake mix recalled after 'cable fragments' found


Pancake and waffle mix sold at Walmart and Kroger stores nationwide are being recalled after officials say it was contaminated with a foreign material. 

Posted by FOX Business Team

Nike navigates supply chain issues for winning quarter


Posted by FOX Business Team

Yield Check


10 Year yield hits 2.375%

2 Year yield hits 2.152%

Highest May 2019

30 Year yield 2.592%

Highest since July 2019 

Source: Dow Jones Market Data Group 

Posted by FOX Business Team

Moderna stock gets a boost after firm expands COVID-19 vaccines to treat related illnesses


Moderna said Tuesday that it would expand its COVID-19 vaccine to treat related illnesses. 

The biotech company announced the extension of its "mRNA pipeline" with two development programs that build on the company's experience with the "Spikevax" vaccine. 

Posted by FOX Business Team

Sifting through big tech, where are the opportunities?


Posted by FOX Business Team
Developing Story

Okta disputes hack report


Security firm Okta downplayed reports its systems were hacked by a group known as LAPSUS$...

"In late January 2022, Okta detected an attempt to compromise the account of a third-party customer support engineer working for one of our sub-processors.The matter was investigated and contained by the sub-processor.We believe the screenshots shared online are connected to this January event. Based on our investigation to date, there is no evidence of ongoing malicious activity beyond the activity detected in January" wrote Chief Security Officer David Bradbury.

Posted by FOX Business Team

Bitcoin bounces higher


Posted by FOX Business Team

Futures at a glance

U.S. equity futures were higher on Tuesday, a day after Federal Reserve Chairman Jerome Powell said the central bank is prepared to more aggressively raise interest rates if policymakers conclude that doing so is warranted to bring down the hottest inflation in four decades.

Meanwhile, Brent crude traded at $115.59 a barrel, while West Texas Intermediate traded at $111.57 per barrel.

Posted by FOX Business Team

Cryptocurrency trading higher; Goldman Sachs makes OTC crypto trade -- first of its kind

Cryptocurrency prices were edging higher early Tuesday morning with Ethereum topping the $3,000 mark for the first time in two weeks.

Bitcoin was trading at approximately $42,585 (+3.31%), while the aforementioned Ethereum and Dogecoin were at nearly $3,025 (+4.64%) and 12.39 cents (+2.91%), respectively, according to Coindesk.

With the exception of a brief spike above $3,000 early this month and today's move into positive territory, ether has mostly meandered in the $2,400-$2,800 range during March. Ethereum has shown a 5.8% increase in the last 24 hours, the Coindesk report said.

Posted by Jack Durschlag

US stocks whipsawed overnight after Fed Chair Powell's remarks

U.S. stocks were whipsawing between negative and positive territory overnight after investors sold stocks and government bonds after Federal Reserve Chairman Jerome Powell reiterated the central bank's commitment to controlling inflation through a rapid series of interest-rate increases.

The S&P 500 edged lower 1.94 points, or less than 0.1%, to close Monday at 4461.18 following comments from Powell about the possibility of more-aggressive interest-rate moves to tame inflation.

Treasury yields rose following his comments, reaching their highest level since May 2019.

The tech-focused Nasdaq Composite Index lost 55.38 points, or 0.4%, to 13838.46, while the Dow Jones Industrial Average slipped 201.94 points, or 0.6%, to 34552.99.

Shares ended modestly lower Monday on Wall Street after bouncing around for much of the day.

Posted by Associated Press

Gas prices lower; states pausing gas taxes

U.S. gas prices dropped by a penny overnight with the average cost of a gallon of gasoline now standing at $4.242 as lawmakers around the country attempt to ease the pain at the pump.

The previous high was set on March 11 when a gallon of gasoline in the United States sold for an average of $4.33.

Lawmakers across the U.S. are pushing to pause the collection of gasoline taxes to give drivers a temporary break at the pump as fuel costs hover near record highs.

Maryland and Georgia are temporarily cutting state gasoline taxes as fuel prices have surged world-wide amid Russia's invasion of Ukraine, which sent shock waves throughout the oil market. California is considering giving drivers a $400 rebate to help cushion the blow of high gasoline prices.

Posted by Jack Durschlag

Oil prices higher in early Asian trading as EU-wide ban of Russian oil considered

Oil prices were higher in early Asian trade, on reports that support for a European Union-wide ban on the purchase of Russian oil is growing inside the bloc.

Houthi rebels have launched multiple attacks at some Saudi Aramco sites was also driving oil prices higher, Oanda says.

"The oil rollercoaster ride remains a geopolitical trade and right now it seems the risks are growing and that could push crude prices higher," Oanda said. April WTI crude oil futures and Brent are each 1.8% higher at $114.16/bbl and $117.65/bbl, respectively. 

Both contracts had settled up more than 7% on Monday as the potential for more supply disruptions weighed on the market.

Posted by Dow Jones Newswires

Warren Buffett's Berkshire Hathaway to buy Alleghany for $11.6B

Warren Buffett’s Berkshire Hathaway is buying insurance company Alleghany Corporation for $11.6 billion, or $848.02 per share in case, the company announced on Monday.

"Berkshire will be the perfect permanent home for Alleghany, a company that I have closely observed for 60 years," Buffett, Berkshire’s CEO, said in a statement.

The deal, approved by both companies’ boards of directors, "represents a multiple of 1.26 times Alleghany’s book value at December 31, 2021, a 29% premium to Alleghany’s average stock price over the last 30 days and a 16% premium to Alleghany’s 52-week high closing price."

Posted by FOX Business Team

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