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 United Parcel Service. Inc. said Wednesday that it has enhanced its ability to produce dry ice, and its health business has partnered with freezer and refrigeration company Stirling Ultracold to provide ultra-low temperature freezers that reach a range of -20°C to -80°C. UPS will now produce 1,200 lbs. of dry ice every hour in the U.S. and Canada. These introductions are intended to aid in the storage and transport of COVID-19 vaccines when the time comes, the company said. The partnership with Stirling Ultracold is through UPS Healthcare, which handles the packaging and shipping of medical devices, labs and clinical trial logistics. UPS stock edged up 0.6% in premarket trading and has gained 47.5% for the year to date. The S&P 500 index is up 12.5% for 2020 so far.
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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Exchange-traded funds that track the energy sector were lower midday Wednesday, but were on track for their best month on record. The Energy Select Sector SPDR Fund fell 1.5%, but has advanced 38.2% so far in November, its strongest monthly gain since 1998, when it was launched. The Fidelity MSCI Energy Index ETF was down 1.4% Wednesday, and has gained 37.9% in the month to date, about the same as the Vanguard Energy ETF . The price of oil has gained as investors grow more confident in an economic recovery thanks to COVID-19 vaccines. On Wednesday, West Texas Intermediate crude for January delivery gained more than 1% at midday, to $45.35 a barrel on the New York Mercantile Exchange.
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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Coronavirus vaccine or not, this basket of growth and dividend stocks is poised to perform.
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Dow's Rise to 30000 Heralds a Broader Stock Rally The Wall Street JournalTrump brags about Dow 30,000 at surprise news conference, leaves after a minute CNBCTrump unexpectedly held a 63-second press conference Yahoo! VoicesDow Reaches 30K; Watch How These Stocks Defied the Pandemic | WSJ Wall Street JournalStocks climb on Wall Street as Biden transition begins POLITICO
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Stocks opened little changed on Wednesday, taking a breather after the Dow Jones Industrial Average topped a significant milestone.
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President Trump has no events on his public schedule, White House officials said Wednesday, contradicting reports overnight that the president planned to attend an event about election fraud sponsored by Republicans in Gettysburg, Pennsylvania. The White House never confirmed the president's planned attendance, though it was reported by several outlets, including ABC News and Bloomberg. The event was organized by a portion of the commonwealth's Republican lawmakers in order to publicize allegations of election fraud in the Keystone State, where President-elect Joe Biden was certified the winner Tuesday. The so-called "hearing" is not an official act by the Pennsylvania legislature, but organized by the PA Senate Majority Policy Committee, a policy arm of the Pennsylvania Senate's Republican conference.
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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Zoom stock is up 6x this year, as the company's video conferencing software became an indispensable tool for people working and learning from home through Covid-19 and the associated lockdowns. Zoom now has a market cap of over $120 billion and is now valued more richly than technology...
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U.S. equity benchmarks Wednesday morning saw muted action, a day after the Dow Jones Industrial Average breached 30,000 points for the first time, and as investors readied for pandemic-tinged Thanksgiving on Thursday when U.S. markets will be closed. The Dow Jones Industrial Average lost 90 points, or 0.3%, to trade at 29.960, the S&P 500 index slipped 0.1% to 3,631, while the Nasdaq Composite Index added 25 points, or 0.2%, at 12,061, touching closing record territory for the tech-laden index. Investors in the past week have focused on progress toward COVID-19 vaccines, and abating concerns around the presidential transition of President-elect Joe Biden. In economic reports, Labor Department employment figures showed jobless claims rose for a second consecutive week, a sign that resurging cases of COVID are taking a toll on the labor market. Meanwhile, durable goods orders rose by more than forecast. A number of other economic reports are set for today, pulled forward because of the Thanksgiving holiday on Thursday and Black Friday in the U.S. The Federal Reserve's meeting minutes from its meeting earlier this month will be released at 2 p.m.
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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Consumer spending moderated in October, the government said Wednesday. Consumer spending rose 0.5% after a revised 1.2% gain in September, the government said Wednesday. Economists surveyed by MarketWatch had predicted a 0.4% increase. Personal income slumped 0.7% in October after a 0.7% gain in the prior month. This was led by a decrease in government social benefits. The 12-month increase in the PCE index, the Federal Reserve's preferred inflation gauge, slipped to 1.2% in October from 1.4% in the prior month. The core PCE rate that strips out food and energy edged down to 1.3% from 1.5% on an annual basis.
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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Gold may be a lucrative opportunity, but it's not the only metal that investors should consider.
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