Dow, S&P 500 shake off slow start, reach new highs
Another climb in bond yields helped pull money out of Big Tech companies, which have started to look expensive after months of soaring through the pandemic.
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Lilly stock poised for record if Alzheimer’s drug results shine
Indianapolis-based Eli Lilly and Co. is set to report results from a trial of its experimental Alzheimer’s medicine on Saturday in a move that could boost shares of the year’s already best-performing big drugmaker.
More records for stock indexes as stimulus bill becomes law
The S&P 500, the Dow Jones industrial average and the Russell 2000 measure of small-company stocks all closed at record levels on Thursday.
Nasdaq makes biggest jump since November as Big Tech surges
Gains for major tech companies powered a 3.7% surge in the Nasdaq on Tuesday, the largest jump for the index in months.
Dirt-cheap flights offered as airlines rebuild battered networks
Airlines worldwide cut $1 billion of expenses a day last year to cope with the slump in passengers, and that’s given them some wiggle room to lower ticket prices.
Wall Street finishes mixed as tech slump offsets other gains
Tech shares tumbled anew on Monday, sending the Nasdaq composite index down 11% from its all-time high, as investors fled high-valuation stocks for companies whose fortunes are closely tied to the economic cycle.
Business travel misses out on recovery
The Global Business Travel Association estimates that worldwide spending on commercial travel won’t recover to its pre-pandemic peak of $1.4 trillion until 2025.
S&P 500 has best day since June as stocks rally on Wall Street
The 2.4% jump in the benchmark index Monday followed back-to-back weekly losses and came as investors were relieved to see long-term interest rates easing lower in the bond market.
Hospitals plead for bailout in face of runaway pandemic bills
U.S. hospitals face up to $122 billion in lost revenue this year as the pandemic continues its rampage, threatening to push more critical-care centers into bankruptcy or out of business entirely.
Steak ‘n Shake sues lender Fortress after averting bankruptcy
Steak ‘n Shake Inc. is accusing the investment firm of misusing confidential business information in a scheme to take control of the restaurant chain’s assets.
Stock market bounces back from big early losses
The reversal came after after reassuring comments from Federal Reserve Chairman Jerome Powell on inflation and the outlook for growth spurred traders to buy the dip.
Kohl’s faces activist group seeking control of board
Kohl’s Corp. is under pressure from a group of activists who want to name nine directors to control its board and are pressing the retailer to reduce inventory and end its “dizzying array of promotional gimmicks.”
Stocks pare gains while bonds extend losses
U.S. stocks turned mixed as benchmark Treasury yields climbed to the highest levels in a year, renewing concern that rising borrowing costs and price pressures could derail the economic recovery.
One of 10 in United States might have to switch occupations after pandemic
Women, minorities, the young and the less educated will probably be the hardest hit by what consultant firm McKinsey & Co. foresees in a new report as an unprecedented hollowing out of low-wage work in retail, hospitality and other industries.
Global airline maps are being overhauled to reflect new demand
Airlines are getting scrappy, shifting operations to wherever there may be demand. The Cliffs Notes version: Leisure is in, business travel is out.
U.S. consumer sentiment unexpectedly falls to a six-month low
Elevated unemployment, limited social activity because of COVID-19 and a slow pace of vaccinations are depressing sentiment
Lilly’s COVID-19 antibody combo gets U.S. emergency authorization
The combo treatment is the second COVID-19 antibody therapy from the Indianapolis-based drugmaker to gain an emergency authorization from the FDA.
Why dealmakers expect tech M&A to keep up its red-hot run
Salesforce.com Inc.’s December announcement that it was buying Slack Technologies Inc. for $25 billion—the largest software deal of the year—could spur other companies to revisit their wish lists, advisers said.
Eli Lilly, Glaxo join forces to test COVID-19 antibody cocktail
GlaxoSmithKline and partner Vir Biotechnology Inc. have teamed up with Indianapolis-based Eli Lilly and Co. to test a combination of their COVID-19 antibody treatments to see whether they can better combat the virus and its variants together.
A year of poor planning led to carmakers’ massive chip shortage
Carmakers with more software and chip expertise are set to face a smoother ride, while those whose traditional strength is metal-bending are potentially more prone to supply hiccups.