Markets

By Ken Martin Published September 21, 2018 Markets FOXBusiness Facebook Twitter Comments Print video Dow, S&P 500 reach an all-time record high FOX Business’ Charles Payne breaks down the record setting trading session for the Dow and S&P 500. Equity futures are pointing to the Dow and S&P 500 setting fresh all-time highs. Continue Reading Below Dow Jones futures were rising by 0.31 percent. The S&P 500 added 0.19 percent and the Nasdaq Composite was up 0.34 percent. Investors have waved off the tit-for-tat exchange of newly imposed trade tariffs placed on U.S. and Chinese goods and have focused on the latest, positive economic data. The Dow Jones Industrial Average rallied 251.22 points, or 0.95 percent, to 26,656.98 -- marking the Dow's 100th record close since the election of President Trump and its first since January. The broader S&P 500 jumped 22.8 points, about 0.8 percent, to 2,930.75. The tech-heavy Nasdaq … [Read more...] about Stock futures point to added gains after record day

Published September 21, 2018 Markets Reuters Facebook Twitter Comments Print video Oil ends lower after Trump’s tweet on OPEC Oil slid after President Trump tweeted about OPEC being a monopoly that must try to lower prices. The Price Futures Group’s Phil Flynn says the president has the right to criticize OPEC. Oil prices were mixed on Friday after falling in the previous session as U.S. President Donald Trump urged OPEC to lower crude prices ahead of its meeting in Algeria this weekend. Continue Reading Below International benchmark Brent crude for November delivery was up 5 cents at $78.75 a barrel by 0424 GMT. U.S. West Texas Intermediate crude for October delivery fell 8 cents to $70.24 a barrel. Trump called on the Organization of the Petroleum Exporting Countries (OPEC) to lower prices, saying on Twitter "they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices." OPEC and … [Read more...] about Oil prices mixed as Trump calls on OPEC to lower prices

By James Mackintosh Wall Street Journal Thu., Sept. 20, 2018 Investors often turn to corporate-bond markets for early warning of trouble and currently find reassurance that all is well. But look closer and the real message is that hidden risks are building. The next downturn could be more painful than usual for creditors, with knock-on effects for shareholders. Credit markets send two classic signals: The first shows excessive risk taking, when companies pay very little above Treasury bonds — as in the late 1990s and 2007, and again today. This is a handy reminder that lenders have thrown caution to the wind, but is hard to use because history tells us that bond yields can stay low for a very long time before trouble hits. The second signal alerts when easy borrowing periods are coming to an end, with the riskiest corporate bonds selling off before shareholders realize the danger. Trouble appeared in U.S. junk bonds months before the S&P 500 peaked in 2007, … [Read more...] about There have never been so many bonds that are almost junk

By Katie Roof Wall Street Journal Yuliya Chernova Thu., Sept. 20, 2018 Brex Inc., a startup founded last year to issue corporate credit cards to other startups, is in discussions with investors to raise a new round of funding at a valuation of about $1 billion (U.S.), according to people familiar with the situation. DST Global is expected to lead the deal, some of the people said. Greenoaks Capital also is considering an investment, two of the people said. Brex and DST Global representatives didn’t respond to a request for comment. A Greenoaks representative declined to comment. The deal speaks to the heated venture-investing market where some startups are gunning for — and sometimes receiving — billion-dollar valuations soon after launching. Brex’s co-founders — the young Brazilian entrepreneurs Henrique Dubugras and Pedro Franceschi — previously raised $57 million for the startup. Article Continued Below The startup is … [Read more...] about Credit-card startup Brex seeks $1-billion valuation in new round

By Bowdeya Tweh Maureen Farrell Wall Street Journal Thu., Sept. 20, 2018 Eventbrite Inc. shares jumped sharply in their market debut Thursday, reflecting strong early demand from investors in the ticketing and event-services company. The shares recently traded at $36.95 (U.S.), up 61% from the stock’s initial public offering price. Eventbrite’s IPO raised $230 million in proceeds after it priced at the high-end of its range between $21 a share and $23 a share. That range was raised earlier this week from its prior target between $19 and $21 each. The stock-price bump pegged Eventbrite’s valuation near $3.5 billion on a fully diluted basis. A flurry of companies are pursuing IPOs this year. According to Dealogic, IPO activity on U.S. exchanges is at its highest level since 2014. Article Continued Below Investors have shown a hunger for the growth that can come with emerging technology firms such as Eventbrite, which uses its tech platform … [Read more...] about Eventbrite surges in market debut