Friday, 13 November 2020

S&P boasts record close with earnings reports adding to vaccine fueled optimism

S&P boasts record close with earnings reports adding to vaccine fueled optimism

The S&P 500 notched a record closing high on Friday with upbeat earnings reports helping to drive optimism about the economy along with hopes for successful COVID-19 vaccines, even as investors monitored a surge in virus cases and restrictions around the country.

S&P 500 hits all-time closing high after earnings, oil drops on pandemic worry

Wall Street jumped on Friday as encouraging earnings stoked risk appetite and President-elect Joe Biden's COVID advisory team said it was not considering a nationwide shutdown, but oil prices slid as Libyan output rose and investors worried the resurgent pandemic could hurt global demand.

Exclusive: Chile health minister hopes Biden victory will help avoid vaccine 'trade war'

Joe Biden's win in the U.S. election is raising hopes in Latin America that a war over medical supplies at the start of the COVID-19 outbreak will not be repeated once vaccines are approved for use, Chile's health minister told Reuters on Friday.

DoorDash shows surge in revenue growth, profitable quarter in IPO filing

DoorDash Inc showed a surge in revenue growth in 2020 and reported a quarterly profit for the first time in its IPO filing on Friday, as the U.S. food delivery startup prepares for what is set to be one of the year's most high-profile market debuts.

SEC charges former Wells Fargo CEO and top executive with misleading investors over sales practices

The Securities and Exchange Commission charged former Wells Fargo CEO John Stumpf and retail banking head Carrie Tolstedt with misleading investors, the watchdog announced Friday.

GM recalling nearly 69,000 Bolt EVs for fire risks

General Motors Co said on Friday it was recalling 68,677 electric cars worldwide that pose a fire risk after five reported fires and two minor injuries.

ByteDance gets 15-day extension on U.S. order to divest TikTok: Treasury

The Trump administration granted ByteDance a 15-day extension of a divestiture order that had directed the Chinese company to sell its TikTok short video-sharing app by Thursday.

McDonald's franchisees face company inspections amid 'COVID fatigue'

McDonald's Corp franchisees will be inspected by the company to ensure compliance with safety standards as coronavirus cases surge again and "COVID fatigue" sets in, according to an internal note seen by Reuters on Friday.

Comcast to make its venture capital firm part of corporate business division

Comcast Corp said on Friday its corporate venture capital firm, Comcast Ventures, will become a part of its strategic business development team at its cable segment.

Stock investors cast wary eye on yield rally

As Treasury yields rally to multi-month highs, some investors are gauging how a more sustained rise could impact equity markets.

Related Videos

DoorDash IPO filing shows surging revenue growth

DoorDash, the U.S. food delivery startup backed by SoftBank Group, made public on Friday its regulatory filing for a listing on the New York Stock Exchange, setting the stage for a blockbuster IPO before the end of the year. Fred Katayama reports.

WeWork sees 'seismic shift', but still burns cash

WeWork is still burning through cash. But the office sharing firm says 2020 has seen a 'seismic shift' that will drive demand for its flexible workspaces. Julian Satterthwaite reports.
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