Oil prices jumped 4% on Wednesday on media reports that scientists had developed a drug against the fast-spreading coronavirus, an outbreak that continues to weigh heavily on global economic activity and oil demand.
Coty Inc reported quarterly profit above expectations on Wednesday and said the recent coronavirus outbreak would have a relatively small impact on its earnings, sending the cosmetics and fragrance maker's shares surging as much as 22%.
The dollar gained and a gauge of global equity markets surged for a third day as expectations of more central bank stimulus and media reports that suggest scientists are closing in on a vaccine for the deadly coronavirus boosted sentiment.
The U.S. trade deficit fell for the first time in six years in 2019 as the White House's trade war with China curbed the import bill, keeping the economy on a moderate growth path despite a slowdown in consumer spending and weak business investment.
Canaccord Genuity's Jed Dorsheimer said Wednesday that Tesla fundamentals need to catch up to meteoric market run.
Qatar Airways is in talks to buy a 49% stake in Africa's RwandAir and is interested in doubling its holding in LATAM Airlines Group to 20%, its chief executive said on Wednesday.
Coty Inc beat Wall Street estimates for quarterly profit and revenue on Wednesday as it sold more nail care products to salons and beauty professionals in Europe, sending its shares up 10% in premarket trading.
The U.S. trade deficit fell for the first time in six years in 2019 as the White House's trade war with China curbed the import bill, keeping the economy on a moderate growth path despite a slowdown in consumer spending and weak business investment.
General Motors Co on Wednesday forecast flat profits for 2020 and reported a better-than-expected fourth quarter result as it kicked off a new effort to win over investors stampeding into shares of electric car rival Tesla Inc .
The International Franchise Association's Franchise Business Economic Outlook for 2020 projects the number of franchised business in the U.S. will increase by 1.5% to a total of 785,316 — adding 232,000 jobs this year to reach 8.6 million employees.
Nasdaq hit a record high at the open on Wednesday following a strong monthly domestic private jobs data and on reports of treatments to fight the fast-spreading coronavirus.
Barclays said Tesla's recent rally resembles the rise and fall of chipmaker Qualcomm in 1999.
U.S. stock index futures surged on Wednesday on reports of medical breakthroughs in the fight against the fast-spreading coronavirus and expectations of more stimulus from China to limit the economic fallout of the epidemic.
German sportswear company Adidas on Wednesday said it was temporarily shutting a "considerable" number of its stores in China due to the coronavirus outbreak which has killed nearly 500 people and infected thousands.
If you are short, you've got to walk away. There's no glory in losing money," Steve Eisman said.