Stocks gained on Wednesday on a report that China could yet agree to a partial trade deal with the United States despite recent tensions, while the prospect of a last-minute Brexit agreement between the European Union and Britain seemed as remote as ever.
Johnson & Johnson shares were off more than 2% on Wednesday, a day after a U.S. jury said it must pay $8 billion in punitive damages to a plaintiff in a case involving its anti-psychotic drug Risperdal, a penalty the company and others are confident will not stand.
President Donald Trump said on Wednesday there was a very good chance that the United States and China will reach a trade agreement.
Boeing Co faced additional uncertainty on Wednesday over future production rates for its 787 Dreamliner after Russian carrier Aeroflot formally canceled an order for 22 aircraft valued at about $5.5 billion at list prices.
Bed Bath & Beyond Inc said on Wednesday it had hired Target Corp's chief merchandising officer, Mark Tritton, as its chief executive officer, replacing long-time chief Steven Temares who left the furnishing retailer in May
Delta Air Lines pilots are receiving record overtime, straining the airline's labor costs, partly as it adds more flights to take advantage of a gap in demand left by the grounding of the Boeing 737 MAX at rival carriers, union officials told Reuters.
Wall Street rose on Wednesday on hopes of progress in U.S.-China trade talks, though stocks pared gains late after Chinese officials said Beijing had lowered expectations for negotiations this week.
Oil futures were mixed on Wednesday as a Turkey-launched offensive in Syria and hopes of progress in ending the U.S.-China trade war supported oil, but a build in U.S. crude inventories held prices back.
Surprised and upset by this week's U.S. blacklisting of Chinese companies, Beijing has lowered expectations for significant progress from this week's trade talks with the United States, Chinese government officials, diplomats, and investors told Reuters.
Hydraulic fracturing firm ProPetro Holding Corp on Wednesday announced a management shakeup, following an internal investigation into disclosure of electric frac equipment purchases and executive spending.
One of 17 U.S. states that sued to block a proposed $26.5 billion tie-up of Sprint Corp and T-Mobile US Inc agreed to drop the challenge after reaching a deal with the companies.
While the discussion about protecting IP has focused on big tech companies, small businesses are fighting an uphill battle with limited resources to protect their patents and trademarks in China.
Oil prices rose on Tuesday, buoyed by overnight gains in industrial commodities, while unrest in oil-producing countries Iraq and Ecuador raised concerns of supply disruption, adding to support.
The U.S. government expanded its trade blacklist to include some of China's top artificial intelligence startups, punishing Beijing for its treatment of Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week.
Prospects for progress in U.S.-China trade talks dimmed on Monday after Washington blacklisted Chinese companies over Beijing's treatment of predominantly Muslim ethnic minorities, and President Donald Trump said a quick trade deal was unlikely.