NEW YORK — Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion. Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the...
US Stocks Tumble Amid Global Sell-Off; Dow Falls 430
NEW YORK — U.S. stocks tumbled following a sell-off in markets in Europe and Japan Monday after China announced a sharp rise in cases of a deadly new virus that threatens to crimp global economic growth. The Dow Jones Industrial Average and S&P 500 each fell about 1.4%, giving up...
US Long-Term Mortgage Rates Fall; 30-Year Loan at 3.64%
WASHINGTON — U.S. long-term mortgage rates fell this week to their lowest level in 13 weeks, as financial markets roiled by U.S.-Iran conflict pushed investors toward the safety of Treasury bonds. The yield on Treasury bonds, especially the 10-year note, tends to influence mortgage rates. Mortgage buyer Freddie Mac said...
Walters: A Blast From the Past
A brief procedure in a San Francisco courtroom this month was a blast from California’s political past. Terry Goggin, a former Democratic state assemblyman, pleaded guilty to federal charges that he had misused money that investors gave him to expand Goggin’s coffee shop chain. Prosecutors said Goggin, 78, admitted deceiving investors in...
Saudi Aramco Gains 10% in Debut to Clinch Top Seat at $1.8T
RIYADH, Saudi Arabia — Saudi Arabia's oil company Aramco gained 10% in its first moments on the stock market Wednesday in a dramatic debut that held until closing and pushed its value up to $1.88 trillion, surpassing Apple as the largest listed company in the world. Trading on the Saudi...
Stocks Head for Another Set of Records as Rally Continues
NEW YORK — U.S. stocks moved broadly higher Monday as investors extended a rally that puts the major indexes on track for another record-setting day. The Dow Jones Industrial Average was on pace to beat its record high close set in July. The S&P 500 is heading for its fourth...
2 Guilty in $1B Fraud as Feds Auction Burt Reynolds Trans Am
SACRAMENTO — Two employees of a San Francisco Bay Area solar energy company pleaded guilty Tuesday to participating in what federal prosecutors say was a massive scheme that defrauded investors of $1 billion. While the company’s owners have not been charged, they agreed to let the government auction their collection...
Yes, Stocks Are Up Again. No, Recession Worries Aren’t Gone
NEW YORK — The U.S. economy is sending some worrying signals about a possible recession, yet the stock market has gone on a what-me-worry ride toward record heights. What gives? Put simply, while the stock market watches the economy, the two don't always move in lockstep. If investors see that...
US Stocks Move Higher as China Eases Trade Tensions
Stocks rose broadly on Wall Street in afternoon trading Wednesday as investors welcomed China's move to exempt some U.S. products from a recent round of tariffs. Technology, health care and communication services stocks powered much of the gains for the benchmark S&P 500 index, which has been essentially flat for...
Stocks Slide After Bond Market Warns Again of Recession
NEW YORK — Stocks fell sharply Wednesday after the bond market threw up another warning flag on the economy. The yield on the 10-year Treasury briefly dropped below the two-year Treasury's yield Wednesday morning for the first time since 2007. The so-called inversion has correctly predicted many past recessions and is the...