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  • 11/20/2017 06:17:05

    Amazon stock price target raised to $1,360 at Instinet, making it highest on FactSet

    Instinet on Monday raised its stock price target for Amazon.com Inc. to $1,360, making it the highest price target of analysts polled by FactSet. "We view AMZN's ability to perpetually grow SG&A (sales, general and administrative costs) as dependent on GM (gross margin) rate expansion and with product costs unlikely to ease, mix shift to higher margin segments is key to GM expansion, which is key to SG&A reinvestment," analysts wrote in a note. "To this end, we took a deep dive into AMZN's margin structure, & backing into segment GMs, we believe that mix shift alone could drive 1000+bps of long-term GM lift, powering a $160bn investment into deepening AMZN's moat." The $1,360 stock price target is 20% above the stock's current trading level. Instinet maintained its buy rating on the stock, which has gained 51% in 2017, while the S&P 500 has gained 15%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 11/14/2017 06:13:28

    Apple's stock in danger of 4th-straight fall but RBC sees multiple EPS 'tailwinds'

    A sharp increase in Apple Inc.'s off balance sheet manufacturing and purchase commitments to a record $37.6 billion in fiscal 2017, up 31% from a year ago, potentially indicate a strong ramp for iPhone X, according to RBC Capital analyst Amit Daryanani. After an analysis of Apple's audited annual report filed with the Securities and Exchange Commission, Daryanani said the 8% decline in warranty accruals was "logical" given the iPhone X delay; a slight decline in operating margins in the U.S. reflect carrier discounts on new phones; and the 31% rise in vendor non-receivables reflect component purchases by Apple for manufacturing licensee partners and overall inventory on Apple's balance sheet. Daryanani reiterated his outperform rating and $190 stock price target, citing "multiple tailwinds" for EPS growth, including higher average selling prices for iPhone X, improved gross margins and potential tax reform. The stock slipped 0.1% in premarket trade, which puts it on track for a fourth-straight decline since it closed at a record $176.24 on Nov. 8. The stock has climbed 8.8% over the past three months, while the tech-heavy Nasdaq 100 has rallied 6.9% and the Dow Jones Industrial Average has gained 6.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 11/13/2017 14:42:05

    Buffalo Wild Wings stock soars after report of acquisition bid

    Buffalo Wild Wings Inc. shares shot more than 25% higher in late trading Monday after a report that a private-equity firm had bid more than $2.3 billion for the restaurant chain. The Wall Street Journal reported that Roark Capital Group made an offer of more than $150 a share for the company in recent weeks. The stock closed Monday at $117.25, then jumped to $150 in after-hours action following the report. The franchise has been hurt by increasing prices for its core product, chicken wings, and had been targeted by activist investor Marcato Capital Management, but bounced back in the most recent quarter by switching one of its most popular promotions to boneless wings. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 11/06/2017 14:38:54

    Apple's iPhone X has higher margin than iPhone 8: analysis

    (Reuters) - Apple Inc's new flagship iPhone X makes the company more money per phone than its iPhone 8 model, according to an analysis, which found the iPhone X's flashier parts cost Apple 25 percent more than the iPhone 8, but that it retailed 43 percent higher.

  • 10/30/2017 21:35:12

    Samsung Electronics posts record quarterly profit

    Earnings at the South Korean tech giant were boosted by higher memory chip prices and smartphone sales.

  • 10/27/2017 14:34:23

    Microsoft closes at record high, just shy of $650 billion market cap

    Microsoft Corp. closed at a record share price of $83.81 Friday, and its market cap moved higher than $650 billion in intraday trading just a week after the company pushed past $600 billion for the first time since the dot-com boom. The stock hit an intraday record of $86.25 after Microsoft announced a big earnings beat Thursday afternoon, a 9.5% gain that was Microsoft's biggest intraday move in more than two years. Shares ended the day up 6.4%, just behind Intel Corp. , which also spiked after a strong earnings report, for the best-performing component of the Dow Jones industrial average . FactSet tracked 19 analysts raising their price target on Microsoft after the earnings, with one rating change from hold to buy and one downgrade from buy to hold. Microsoft's closing price represented a market cap of $646.6 billion, according to FactSet.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/26/2017 09:36:19

    3M's stock exacts a 25-point toll from Dow industrials in late-morning trade

    The Dow Jones Industrial Average saw its gains whittled back late-morning Thursday as shares of component 3M weighed on the average. 3M Co.'s shares was cutting about 25 points from the Dow , which trimmed the benchmark's earlier rise. The Dow was most recently trading 85 points, or 0.4%, higher at 23,413, but had been up about 130 points. A $1 move in any one of the price-weighted Dow's 30 components equates to a swing of 6.89 points. Meanwhile, the S&P 500 index was up 0.3% and the Nasdaq Composite Index was trading little changed. Shares of 3M Co. had rallied earlier in the week, after the industrial, safety and consumer products company beat profit and revenue expectations. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/23/2017 11:33:58

    Nvidia shares tick slightly higher after bullish analyst hikes price

    Shares of Nvidia Corp. ticked higher Monday after one analyst hiked his target price of the already high-flying stock by nearly 28%. Nvidia shares rose 0.8% to $198.45 in recent trading, and are up 86% for the year, compared with the S&P 500 index's 15% rise. On Monday, Jefferies analyst Mark Lipacis, who has a buy rating on the stock, hiked his price target on Nvidia to $230 from $180 on the belief that the company's Volta graphics processing unit will outperform competitors in the field of neural networks applications, and translate into upside surprises over the next 18 to 24 months. Earlier in the year, Lipacis said Intel Corp. stands to lose ground to Nvidia in data center applications in what he called a "tectonic shift." With the price hike, the average price target for Nvidia is $175.88, according to targets from 38 analysts surveyed by FactSet. Nvidia reports earnings on Nov. 9.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/17/2017 06:16:12

    Goldman's stock rally set to deliver 20-point boost to Dow industrials' push to 23,000

    The Dow Jones Industrial Average was set to open up slightly higher on Tuesday, inching closer to a key level at 23,000, with Goldman Sachs Group Inc. delivering the lion's share of that upswing. Shares of the investment banking powerhouse were set to provide the Dow a 20-point jolt after it reported third-quarter results early Tuesday that beat market expectations. Goldman reported third-quarter net revenue of $8.3 billion, or $5.02 a share, up from $8.2 billion and $4.88, in the year-ago quarter. The company still produced a weak performance in its bread-and-butter business of fixed-income trading, but that weakness was in line with its rivals. Goldman is one of the more influential components of the price-weighted Dow by dint of its more than $200 share price. In premarket trade, Goldman shares traded $2.89 or 1.2%. That equates to a roughly 20-point gain for the Dow because a $1 move in any one of the gauge's 30 components translates to a swing of 6.89. Dow futures were up 21 points, or 0.1%, at 22,920. Elsewhere, the market looked to open little changed, with the S&P 500 index futures trading flat, while futures for the Nasdaq-100 were trading near breakeven levels. All three benchmarks, the Nasdaq Composite , the Dow, and the S&P 500 closed at records. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/09/2017 13:20:03

    Oil prices climb after OPEC signals possible deal extension

    NEW YORK (Reuters) - Oil prices inched higher on Monday after one of the most bearish weeks in months, propped up by OPEC comments signaling the possibility of continued action to restore market balance in the long term.

  • 10/02/2017 14:10:18

    Dow, S&P 500, Nasdaq, Russell 2000 all end at records

    U.S. stock indexes registered a quartet of records on Monday as investors shook off a massacre in Las Vegas to take stocks further into record territory. The Dow closed up about 150 points, or 0.7%, at 22,557, the S&P 500 index rose 0.4% at 2,529, while the Nasdaq Composite Index advanced 0.3% at 6,516. The biggest advance, however, was in the small-capitalization oriented Russell 2000 , which was set to the book a record of its own, up about 1.1% on the day. Optimism around President Donald Trump's tax overhaul proposal coming to fruition and expectations that third-quarter results will be strong, have powered stocks higher, despite a Las Vegas shooting, which cast a pall over the market. A lone gunman late Sunday killed at least 58 people and injured more than 500 in the worst mass shooting in modern U.S. history. In corporate news, Roku Inc. shares ended the session down more than 11% retreating after the media-streaming company's stellar debut as a publicly traded company. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/13/2017 07:31:25

    U.S. stocks open modestly lower, major indexes coming off records

    U.S. stocks opened slightly lower on Wednesday, as investors found few catalysts to keep pushing shares higher with major indexes near record levels. The Dow Jones Industrial Average fell 14 points, or 0.1%, to 22,099. The S&P 500 slipped 3 points to 2,493, a decline of 0.1%. The Nasdaq Composite Index was off 15 points, or 0.2%, to 6,439. Major indexes have been in an uptrend this week, with both the S&P and the Nasdaq coming off two-day rallies, while the Dow has risen for three straight sessions. Those gains took equities to record levels, leading to some mild profit taking. Among specific names, Apple Inc. dipped 1% a day after it unveiled its new product lineup, including a flagship iPhone X that won't be delivered until November. Nordstrom Inc. surged 5.4% a day after a report the retailer was taking steps to go private.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/12/2017 09:39:49

    Shares of McDonald's head for worst daily drop in a year, exact 40-point toll on Dow industrials

    The Dow Jones Industrial Average was powering higher in early trade, despite a drag produced by McDonald's Corp. The fast-food behemoth was cutting almost 40 points from the price-weighted Dow in morning trade, with its stock down $5.52, or 3.4%--putting it on track for the worst performance among the benchmark's 30 components. A decline at this level would represent the worst one-day tumble for the company since July 26, 2016, according to FactSet data. A $1 move in any one of the Dow components equates to a 6.89-point swing in the equity average. Despite the headwind, the Dow was trading near a closing peak, with shares of Goldman Sachs Group Inc. helping to offset McDonald's share drop . Goldman's shares were up $5.53, or 2.5%. The reason for shares of McD's retreat were being attributed to a bearish note from research firm M Science. Other benchmarks, were trading in positive territory, with the S&P 500 index setting a fresh intraday all-time high at the open and the Nasdaq Composite Index trying to climb near its own record level. The Dow, meanwhile, was up 63 points, or 0.3%, at 21,120, off its best levels of the session but still in record territory. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/12/2017 08:56:04

    Shares of McDonald's head for worst daily drop in a year, exact 35-point toll on Dow industrials

    The Dow Jones Industrial Average was powering higher in early trade, despite a drag produced by McDonald's Corp. The fast-food behemoth was cutting approximately 35 points from the price-weighted Dow in morning trade, with its stock down $5.15, or 3.2%--putting it on track for the worst performance among the benchmark's 30 components. A decline at this level would represent the worst one-day tumble for the company since July 26, 2016, according to FactSet data. A $1 move in any one of the Dow components equates to a 6.89-point swing in the equity average. Despite the headwind, the Dow was trading near a closing peak, with shares of Goldman Sachs Group Inc. more than offsetting McDonald's drop. The reason for shares of McD's retreat were being attributed to a bearish note from research firm M Science. Other benchmarks, were in trading in positive territory, with the S&P 500 index setting a fresh intraday all-time high at the open and the Nasdaq Composite Index trying to climb to near its own record level. The Dow, meanwhile, was up 34 points, or 0.2%, at 21,091, off its best levels of the session. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/11/2017 14:58:49

    Dow industrials rally 260 points, retake 22,000 level, as worries over Hurricane Irma, North Korea abate

    U.S. stock-index benchmarks closed sharply higher on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average closed about 259.58 points, or 1.2%, higher at 22,057.37, while the S&P 500 index climbed 1.1% at 2,488.11, marking a fresh record for the broad-market gauge. The Nasdaq Composite Index rallied 1.1% at 6,432.26, and ended within range of its all-time closing high. A re-emergence of risky assets also helped to drive up yields in Treasury bonds, with the 10-year Treasury note hitting 2.13% Monday afternoon, compared with 2.05% late Friday. Bond prices and yields move inversely. Gold futures also sold off. In corporate news, investors awaited the debut of Apple Inc.'s new iPhone 8 on Tuesday. Elsewhere, shares of Teva Pharmaceutical Industries Ltd. finished 17% higher, after the Israeli drug company on Monday named Lundbeck's Kare Schultz as its new chief executive. Wall Street marked the anniversary of 9/11. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/11/2017 08:29:26

    Goldman, Apple stocks contribute 50 of Dow's 200-point rally

    The Dow Jones Industrial Average was trading firmly higher on Monday, aided by a pop in shares of Apple Inc., and Goldman Sachs Group. Shares of Goldman , up $4.04., or 1.8%, were contributing about 27 points to the price-weighted Dow . Apple Inc.'s shares added about 22 points, ahead of the Cupertino, Calif.-based tech giant's latest iPhone on Tuesday. Goldman's shares may be tied to a rise in yields, with the 10-year benchmark Treasury note at 2.11% from 2.05% late Friday in New York. Higher yields are bullish for banks' lending models. A $1 move in any Dow component equates to a 6.89-point swing in the Dow. Overall , the market was enjoying a broad-based rally power by the financial sector and technology shares , both leading gains for the S&P 500 index . Most recently, the Dow was up 210 points, or 1%, at 22,008, the S&P 500 was 0.8% higher, while the Nasdaq Composite Index was looking at a gain of 1.2% at 6,433. The rally came in part as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, reviving investor appetite. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/08/2017 14:30:07

    Popular insurance fund marks best daily gain in 6 years even as Hurricane Irma looms

    Prominent insurance-linked funds logged their best daily gains in years on Friday, even as Hurricane Irma was ready to lash deadly rains and winds at Florida, among a trio of powerful storms brewing in the Atlantic. Still, PowerShares KBW Property & Casualty Insurance Portfolio jumped 3.7% on Friday, matching the exchanged-traded fund's best one-day rise since Nov. 30, 2011, according to FactSet data. All of its components finished in the green, led by a nearly 7% gain in shares of Maiden Holdings Ltd. and a 5.8% rise in XL Group Ltd.. A component of the Dow Jones Industrial Average , Travelers Cos. Inc. , rallied 4%, its best day in about five years, since Dec. 5, 2012. Its gain alone added about 30 points to the price-weighted Dow's tepid climb on Friday. Other popular insurance closed sharply higher. The SPDR S&P Insurance ETF ended up 2.8% and the iShares U.S. Insurance ETF closed 2.6% higher. Despite, Friday's odd gains, most of the insurer funds were set to log steep declines. The property and casualty ETF booked a 3.4% weekly decline, the iShares insurance fund slumped 1.8% drop for the period, while the SPDR insurance registered a weekly decline of 2.8%. Winds from Hurricane Irma, already the most powerful Atlantic hurricane on record, on Friday picked up steam as it barreled toward Florida, prompting Gov. Rick Scott to urge all Floridians to evacuate. The approaching storm comes less than two weeks since Hurricane Harvey devastated much of Houston and parts of Louisiana. Besides Irma, hurricanes Katia and Jose are also swirling in the Atlantic. In broader markets, the S&P 500 index closed off 0.2% at 2,461, while the Nasdaq Composite Index ended down 0.6%. The Dow finished in the green on back of Travelers. The insurance giant wiped out its weekly decline to show slight weekly advance. One rationale for insurer gains on the day is the hope that Irma will produce less damaging floodwaters and lasting damage, compared with Harvey. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/30/2017 14:02:46

    U.S. stocks end higher; Nasdaq boosted by biotech gain

    U.S. stocks ended higher on Wednesday, with the Nasdaq seeing a particular gain on the strength of biotechnology companies, while the S&P 500 closed higher for a fourth straight session. The Dow Jones Industrial Average rose 25 points, or 0.1%, to 21,890. The S&P 500 added 11 points to 2,457, a gain of 0.5%. The Nasdaq Composite Index advanced 66 points to 6,368, a rise of 1.1%. The biotechnology sector was one of the strongest of the day, with the iShares Nasdaq Biotechnology ETF up 1.9%, boosted by Gilead Sciences , which surged 7.3%, and Incyte Corp. , up 10.6%. Markets were also supported by strong economic data, including better-than-expected reads on economic growth and private-sector employment. The Dow was pressured by Travelers Companies Inc. , which fell 1%, and by Verizon Communications , which was off 0.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 13:43:10

    Dow holds on to gains as Draghi talks global economic stability at Jackson Hole

    U.S. stock benchmarks were trading higher Friday afternoon, and looked set to book weekly advances as Mario Draghi delivered a highly anticipated speech at Jackson Hole, Wyo. Although Draghi didn't offer clues about monetary policy, he did say that recoveries taking place in global economies are firming, though he said it was "at an earlier stage" in Europe and Japan. The statement was enough to send the euro surging against the dollar up at $1.1925, compared to $1.18 late Thursday in New York. U.S. equity markets, meanwhile, climbed and have traded higher throughout the session on the back of the possibility of tax reform following remarks made by Gary Cohn, the president's economic adviser. The Dow Jones Industrial Average rose about 61 points, or 0.3%, at 21,847. Dow components Boeing Co. and Intel Corp. were helping to limit gains for blue chips. The S&P 500 index climbed 8 points, or 0.3%, at 2,446, while the Nasdaq Composite Index was flat at 6,271. Still, the technology laden gauge was on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. Earlier in the session, Federal Reserve Chairwoman Yellen said that the economy was stabilizing but made no specific remarks about monetary policy during her speech at the gathering of central bankers in Wyoming. Meanwhile, investors were also Cohn's interview with the Financial Times, where he said the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of catalyst for stocks's rise to records after Trump's election victory in November. In that interview, Cohn also said he seriously considered resigning in response to Trump's reaction to a Charlottesville, Va., white-supremacist rally, however, the adviser and former Goldman Sachs executive decided against leaving. In other news, investors may also be watching developments in the Gulf Coast after Hurricane Harvey was upgraded to a Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 9% after the retailer's results late Thursday showed second-quarter sales growth slowed. Check out a live blog of the Jackson Hole symposium here.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 08:57:00

    Dow off intraday highs but boasts healthy advance as stocks pare gains in late-morning trade

    U.S. stock benchmarks gave up some ground late-morning Friday, but still looked set to log weekly gains as investors Fed Chairwoman Janet Yellen opted not to make any specific comments on monetary policy in a highly anticipated speech in Jackson Hole, Wyo. Equity markets had already been riding higher on the back of the possibility of tax reform after remarks made by Gary Cohn, the president's economic adviser. The Dow Jones Industrial Average rose about 60 points, or 0.3%, at 21,847. Dow components Boeing Co. Nike Inc. and Intel Corp. , were helping to limit gains for blue chips. The S&P 500 index climbed 8 points, or 0.3%, at 2,447, while the Nasdaq Composite Index added 8 points, or 0.1%, at 6,279. That puts the technology laden gauge on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. In her Wyoming speech Fed Chairwoman Yellen said that the economy was stabilizing but made no specific remarks about monetary policy. Meanwhile, investors were also Cohn's interview with the Financial Times, where he said the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of catalyst for stocks's rise to records after Trump's election victory in November. In that interview, Cohn also said he seriously considered resigning in response to comments Trump made about a Charlottesville, Va., white-supremacist rally, however, Cohn decided against leaving. In other news, investors may also be watching developments in the Gulf Coast after Hurricane Harvey was upgraded to a Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 4.8% in low after the retailer's results late Thursday showed second-quarter sales growth slowed. European Central Bank President Mario Draghi is scheduled to speak at 3 p.m. Eastern at Jackson Hole. Check out a live blog of the Jackson Hole symposium here.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 08:16:56

    Dow climbs 120 points as stock market rallies as Yellen makes no monetary-policy comment

    U.S. stock benchmarks climbed on Friday and looked set to log weekly gains as investors Fed Chairwoman Janet Yellen opted not to make any specific comments on monetary policy in a speech in Jackson Hole, Wyo. Equity markets had already been riding higher on the back of the possibility of tax reform after remarks made by Gary Cohn, the president's economic adviser. The Dow Jones Industrial Average rose about 110 points, or 0.5%, at 21,895, only Boeing Co.'s shares were in negative territory among the Dow's components, off 0.1%. The S&P 500 index climbed 13 points, or 0.5%, at 2,451, while the Nasdaq Composite Index added 28 points, or 0.5%, at 6,300. That puts the technology laden gauge on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. In her Wyoming speech Fed Chairwoman Yellen said that the economy was stabilizing but made no specific remarks about monetary policy. Meanwhile, investors were also Cohn's interview with the Financial Times, where he said the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of catalyst for stocks's rise to records after Trump's election victory in November. In other news, investors may also be watching developments in the Gulf Coast after Hurricane Harvey was upgraded to a Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 4.8% in low after the retailer's results late Thursday showed second-quarter sales growth slowed. European Central Bank President Mario Draghi is scheduled to speak at 3 p.m. Eastern at Jackson Hole. Check out a live blog of Jackson Hole symposium here.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 07:58:16

    Dow climbs 100 points as stock market rallies on tax-reform hope

    U.S. stock benchmarks opened higher on Friday and looked set to log weekly gains as investors focused on the possibility of tax reform and the start of the Jackson Hole symposium of central bankers in Wyoming. The Dow Jones Industrial Average rose about 100 points, or 0.5%, at 21,882, only Boeing Co.'s shares were in negative territory among the Dow's components, off 0.2%. The S&P 500 index climbed 12 points, or 0.5%, at 2,450, while the Nasdaq Composite Index added 28 points, or 0.5%, at 6,300. That puts the technology laden gauge on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. In an interview with the Financial Times, Gary Cohn, economic adviser to President Donald Trump, said that the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of the reason stocks rose to records after Trump's election victory in November. Meanwhile, investors may also be looking developments in the Gulf Coast after Hurricane Harvey was upgraded to Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 4.8% in low premarket volume trading after the retailer's results late Thursday showed second-quarter sales growth slowed. Earnings were above Wall Street's expectations. Federal Reserve Chairwoman Janet Yellen is slated to deliver a speech at Jackson Hole speech at 10 a.m. Eastern, while European Central Bank President Mario Draghi is scheduled to speak at 3 p.m. Eastern. Check out a live blog of Jackson Hole here.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 07:42:33

    Dow climbs 80 points as stock market rallies on tax-reform hope

    U.S. stock benchmarks opened higher on Friday and looked set to log weekly gains as investors focused on the possibility of tax reform and the start of the Jackson Hole symposium of central bankers in Wyoming. The Dow Jones Industrial Average rose 80 points, or 0.4%, at 21,861, only Boeing Co.'s shares were in negative territory among the Dow's components, off 0.2%. The S&P 500 index climbed 9 points, or 0.4%, at 2,447, while the Nasdaq Composite Index added 16 points, or 0.3%, at 6,287. That puts the technology laden gauge on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. In an interview with the Financial Times, Gary Cohn, economic adviser to President Donald Trump, said that the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of the reason stocks rose to records after Trump's election victory in November. Meanwhile, investors may also be looking developments in the Gulf Coast after Hurricane Harvey was upgraded to Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 4.8% in low premarket volume trading after the retailer's results late Thursday showed second-quarter sales growth slowed. Earnings were above Wall Street's expectations. Federal Reserve Chairwoman Janet Yellen is slated to deliver a speech at Jackson Hole speech at 10 a.m. Eastern, while European Central Bank President Mario Draghi is scheduled to speak at 3 p.m. Eastern.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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