Market makes comeback from May losses after promising info on Moderna vaccineU.S. equities banked sharp gains on Monday as news from a biotech company Moderna trial stoked optimism about a potential vaccine. Stocks also got a boost from hopes the economy reopening will spur economic recovery. Here's what happened:The 's rally on Monday pushed the broader-market index above 2,934.49, the 61.8% retracement level from February's record high, for just the second time since March 6 on a closing basis. Staying above that level could give the market some solid footing moving forward, from a...…Market makes comeback from May losses after promising info on Moderna vaccineU.S. equities banked sharp gains on Monday as news from a biotech company Moderna trial stoked optimism about a potential vaccine. Stocks also got a boost from hopes the economy reopening will spur economic recovery. Here's what happened:The 's rally on Monday pushed the broader-market index above 2,934.49, the 61.8% retracement level from February's record high, for just the second time since March 6 on a closing basis. Staying above that level could give the market some solid footing moving forward, from a...WW…

Wall Street set for a flat open after Wednesday's gainsU.S stocks reversed lower in a swift fashion on Thursday after reports that President Joe Biden is slated to propose much higher capital gains taxes for the rich.The Dow Jones Industrial Average dropped 321.41 points, or 1%, to 33,815.90. At its low of the day, the blue-chip benchmark fell 420 points. The S&P 500 erased earlier gains and closed 0.9% lower at 4,134.98, while the Nasdaq Composite slid 0.9% to 13,818.41.7 hours agoBloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as...…Wall Street set for a flat open after Wednesday's gainsU.S stocks reversed lower in a swift fashion on Thursday after reports that President Joe Biden is slated to propose much higher capital gains taxes for the rich.The Dow Jones Industrial Average dropped 321.41 points, or 1%, to 33,815.90. At its low of the day, the blue-chip benchmark fell 420 points. The S&P 500 erased earlier gains and closed 0.9% lower at 4,134.98, while the Nasdaq Composite slid 0.9% to 13,818.41.7 hours agoBloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as...WW…

Key PointsSuez Canal traffic prepares to resume as giant container ship Ever Given moves againThe Ever Given, the massive container ship that became wedged in the Suez Canal and cut off traffic in the vital waterway for almost a week, has been refloated, authorities said Monday.The ship sailed north to the Great Bitter Lake, arriving there just before 1 p.m. ET, according to Leth Agencies, which is a transit agent at the Suez Canal. The vessel will now undergo a technical inspection.Earlier on Monday, the Suez Canal Authority said the ship had "responded to the pulling and towing maneuvers"...…Key PointsSuez Canal traffic prepares to resume as giant container ship Ever Given moves againThe Ever Given, the massive container ship that became wedged in the Suez Canal and cut off traffic in the vital waterway for almost a week, has been refloated, authorities said Monday.The ship sailed north to the Great Bitter Lake, arriving there just before 1 p.m. ET, according to Leth Agencies, which is a transit agent at the Suez Canal. The vessel will now undergo a technical inspection.Earlier on Monday, the Suez Canal Authority said the ship had "responded to the pulling and towing maneuvers"...WW…

Key PointsIn this articleSatellite images give a unique vantage point of the stuck ship Ever Given, as crews work to free the mega container vessel that's been blocking the Suez Canal for four days.' WorldView-2 satellite captured high-resolution images on Friday morning, with a close-up look at the dredging operations underway to free the ship. The Ever Given, which is operated by Taiwanese shipping company Evergreen Marine, has been stuck since Tuesday, when the ship ran aground during the heavy winds and low visibility of a sandstorm.Shipping operators the Ever Given. The enormous cargo...…Key PointsIn this articleSatellite images give a unique vantage point of the stuck ship Ever Given, as crews work to free the mega container vessel that's been blocking the Suez Canal for four days.' WorldView-2 satellite captured high-resolution images on Friday morning, with a close-up look at the dredging operations underway to free the ship. The Ever Given, which is operated by Taiwanese shipping company Evergreen Marine, has been stuck since Tuesday, when the ship ran aground during the heavy winds and low visibility of a sandstorm.Shipping operators the Ever Given. The enormous cargo...WW…

Key PointsIn this articleThe massive container ship has been for three days, halting billions of dollars in trade as vessels pile up at both ends of the waterway.More than 150 ships are waiting to pass through the 120 mile canal, according to estimates from research firm StoneX.Images captured from vessel tracker show the extent of the buildup.The canal handles around 12% of seaborne trade, making it an essential point of passage. Each day of blockage disrupts more than $9 billion worth of goods, according to The Associated Press, citing estimates from Lloyd's List.Research firm StoneX...…Key PointsIn this articleThe massive container ship has been for three days, halting billions of dollars in trade as vessels pile up at both ends of the waterway.More than 150 ships are waiting to pass through the 120 mile canal, according to estimates from research firm StoneX.Images captured from vessel tracker show the extent of the buildup.The canal handles around 12% of seaborne trade, making it an essential point of passage. Each day of blockage disrupts more than $9 billion worth of goods, according to The Associated Press, citing estimates from Lloyd's List.Research firm StoneX...WW…

Key PointsIn this article CEO David Solomon addressed junior bankers' complaints over heightened workloads in a message to employees, after the results from an where one employee called conditions "inhumane" went viral."Let me say to everyone, and in particular to our analysts and associates: We recognize that people working today face a new set of challenges," Solomon said in a voice note to Goldman employees Sunday evening. 11 hours ago"In this world of remote work, it feels like we have to be connected 24/7," he said. "All of us—your colleagues, your managers, our divisional leaders—we...…Key PointsIn this article CEO David Solomon addressed junior bankers' complaints over heightened workloads in a message to employees, after the results from an where one employee called conditions "inhumane" went viral."Let me say to everyone, and in particular to our analysts and associates: We recognize that people working today face a new set of challenges," Solomon said in a voice note to Goldman employees Sunday evening. 11 hours ago"In this world of remote work, it feels like we have to be connected 24/7," he said. "All of us—your colleagues, your managers, our divisional leaders—we...WW…

In this articleU.S. stocks fell after Fed Chair Powell said reopening could cause temporary inflation — Here's what investors are watching nowU.S. stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check.The S&P 500 closed the wild session down 1.3% to 3,768.47 after dropping 2.5% at its session low. The Dow Jones Industrial Average slid 345.95 points, or 1.1%, to 30,924.14. At one point, the blue-chip benchmark tumbled more than 700 points. The Nasdaq...…In this articleU.S. stocks fell after Fed Chair Powell said reopening could cause temporary inflation — Here's what investors are watching nowU.S. stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check.The S&P 500 closed the wild session down 1.3% to 3,768.47 after dropping 2.5% at its session low. The Dow Jones Industrial Average slid 345.95 points, or 1.1%, to 30,924.14. At one point, the blue-chip benchmark tumbled more than 700 points. The Nasdaq...WW…

Key PointsIn this articleHere's why Tesla shares are falling after a strong 2020 suffered steep losses at the opening bell on Tuesday as investors rotated out of high-flying tech names, although throughout the session Tesla, in addition to Big Tech, clawed back the majority of the day's early losses.Shares of the electric vehicle maker dipped as much as 13% — the stock's worst day since September — before bouncing back from the low. Shares finished the session 2.19% lower.a day agoTesla on Monday. With Tuesday's losses, Tesla turned negative for 2021.The car maker is the poster child for...…Key PointsIn this articleHere's why Tesla shares are falling after a strong 2020 suffered steep losses at the opening bell on Tuesday as investors rotated out of high-flying tech names, although throughout the session Tesla, in addition to Big Tech, clawed back the majority of the day's early losses.Shares of the electric vehicle maker dipped as much as 13% — the stock's worst day since September — before bouncing back from the low. Shares finished the session 2.19% lower.a day agoTesla on Monday. With Tuesday's losses, Tesla turned negative for 2021.The car maker is the poster child for...WW…

Key PointsKoss directors, execs sell at least $44 million in stock this weekExecutives, directors and members of the Koss family sold more than $44 million in stock in over the past week as shares soared from the retail-investor buying frenzy.Members of the Koss family, who own about 75% of the Milwaukee-based maker of headphones, sold $31 million of stock, according to filings with the Securities and Exchange Commission.The filings suggest they sold at prices between $19 a share and over $60 a share. The company's shares were trading under $4 a share before it became popular with the...…Key PointsKoss directors, execs sell at least $44 million in stock this weekExecutives, directors and members of the Koss family sold more than $44 million in stock in over the past week as shares soared from the retail-investor buying frenzy.Members of the Koss family, who own about 75% of the Milwaukee-based maker of headphones, sold $31 million of stock, according to filings with the Securities and Exchange Commission.The filings suggest they sold at prices between $19 a share and over $60 a share. The company's shares were trading under $4 a share before it became popular with the...WW…

Fed appears off to a good start to combatting coronavirus economic impact, says former Fed governorStocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus' economic blow.The closed 913.21 points lower, or more than 4%, at 19,173.98 after rallying more than 400 points earlier in the day. The slid 4.3% to 2,304.92. The closed 3.8% lower at 6,879.52 after jumping more than 2%.The Dow dropped more than 17% for the week, its biggest one-week fall since October 2008, when it slid...…Fed appears off to a good start to combatting coronavirus economic impact, says former Fed governorStocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus' economic blow.The closed 913.21 points lower, or more than 4%, at 19,173.98 after rallying more than 400 points earlier in the day. The slid 4.3% to 2,304.92. The closed 3.8% lower at 6,879.52 after jumping more than 2%.The Dow dropped more than 17% for the week, its biggest one-week fall since October 2008, when it slid...WW…