Will the NY Stock Exchange leave the Big Apple?
FOX Business’ Gerri Willis on whether the New York Stock Exchange will leave NYC due to a possible tax on trading.
U.S. equity markets opened near record highs Thursday after President Biden held his first call with Chinese President Xi Jinping.
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"President Biden affirmed his priorities of protecting the American people’s security, prosperity, health, and way of life, and preserving a free and open Indo-Pacific," the White House said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 31523.96 | +86.16 | +0.27% |
| SP500 | S&P 500 | 3922.63 | +12.75 | +0.33% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14044.497063 | +71.96 | +0.52% |
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The Dow Jones Industrial Average gained 32 points, or 0.1%, while the S&P 500 and the Nasdaq Composite were higher by 0.28% and 0.56%, respectively. The Dow finished at a record high on Wednesday while the S&P and the Nasdaq ended just below their own peaks.
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In stocks, Uber Technologies Inc.’s quarterly net loss narrowed by 20% as a booming food-delivery business helped to partially offset further weakness in ride-sharing.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 61.70 | -1.50 | -2.37% |
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PepsiCo Inc. said quarterly revenue rose 8.8% from a year ago as the COVID-19 pandemic led to increased demand for snacks and beverages. The company expects earnings and revenue growth to “be consistent” with its long-term objectives.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PEP | PEPSICO INC. | 136.50 | -1.21 | -0.88% |
| KO | COCA-COLA COMPANY | 50.10 | +0.50 | +1.01% |
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MGM Resorts International saw a 53% year-over-year decline in quarterly revenue as its casino business in Las Vegas and Macau continued to reel in the wake of COVID-19. The company expects demand in Las Vegas to return later this year and said its sports betting unit, BetMGM, will be in 20 markets by yearend.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MGM | MGM RESORTS INTERNATIONAL | 35.94 | -0.60 | -1.64% |
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Walt Disney Co. will release its quarterly results after markets close.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | WALT DISNEY COMPANY | 190.10 | +0.52 | +0.27% |
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In deals, Kraft Heinz Co. agreed to sell its nuts business to Hormel Foods Corp. for $3.35 billion in cash. The deal includes the Planters nut brand, NUT-rition, Planters Cheez Balls and Corn Nuts brands.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KHC | KRAFT HEINZ COMPANY | 35.58 | +1.69 | +4.99% |
| HRL | HORMEL FOODS | 49.54 | -0.29 | -0.58% |
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Shares of cannabis companies were active again Thursday morning amid continued speculation that major reform could take place with Democrats controlling the White House and both chambers of Congress.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TLRY | TILRAY INC | 51.50 | -12.41 | -19.42% |
| CGC | CANOPY GROWTH CORP | 45.11 | -7.06 | -13.52% |
| ACB | AURORA CANNABIS | 17.15 | -1.75 | -9.26% |
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In commodities, West Texas Intermediate crude oil fell 11 cents to $58.57 per barrel and gold ticked up $1.30 to $1,844.10 an ounce.
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Overseas markets were higher across the board with Germany’s DAX 30 leading the advance in Europe, up 0.69%, while France’s CAC 40 and Britain’s FTSE 100 were both up fractionally.
In Asia, Japan’s Nikkei 225 edged up 0.19% while Hong Kong’s Hang Seng index rose 0.45% in a half day of trading ahead of the Chinese New Year break. China’s Shanghai Composite was closed.
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