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.
|I:DJI||DOW JONES AVERAGES||31523.96||+86.16||+0.27%|
|I:COMP||NASDAQ COMPOSITE INDEX||14044.497063||+71.96||+0.52%|
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.
|UBER||UBER TECHNOLOGIES INC.||61.70||-1.50||-2.37%|
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.
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.
|MGM||MGM RESORTS INTERNATIONAL||35.94||-0.60||-1.64%|
Walt Disney Co. will release its quarterly results after markets close.
|DIS||WALT DISNEY COMPANY||190.10||+0.52||+0.27%|
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.
|KHC||KRAFT HEINZ COMPANY||35.58||+1.69||+4.99%|
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.
|CGC||CANOPY GROWTH CORP||45.11||-7.06||-13.52%|
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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