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MarketWatch MarketPulseNov 25, 2020
Slack's stock spikes up after WSJ report of buyout talks with Salesforce
Shares of Slack Technologies Inc. spiked up 27.6% in midday trading Wednesday, after The Wall Street Journal reported that the business communications software company has held talks to be acquired by Salesforce.com Inc. . Citing people familiar with the situation, the WSJ report said any deal would likely value Slack at more than its current market capitalization, which was about $17 billion prior to the stock's jump on the buyout-talks report. Slack and Salesforce were not immediately available for comment. Slack's current market cap is $21.5 billion. Salesforce's stock took a dive after the WSJ report, and was recently down 3.2% after being up about 1.1% before the report. Salesforce's market cap was $229.9 billion. Over the past three months, Slack shares have rallied 32.1% and Salesforce shares have advanced 16.9%, while the Dow Jones Industrial Average has gained 5.7%.

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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MarketWatch MarketPulseNov 25, 2020
Energy ETFs aim for best month on record as crude prices recover
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.



Forbes HeadlinesNov 25, 2020
With A Covid Vaccine Ready, Zoom Stock Looks Overvalued
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...

MarketWatch MarketPulseNov 25, 2020
Dow retreats from 30,000 milestone at open, but Nasdaq trades in record territory ahead of Thanksgiving holiday
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.



Yahoo BusinessNov 25, 2020
Stock market news live updates: Futures mixed, Wall Street catches breath after Dow hits 30K


MarketWatch MarketPulseNov 25, 2020
U.S. consumer spending moderates in October
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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