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  • Industrial Production, Capacity Utilization Rise More Than Expected in May, Fed Says

    Industrial Production, Capacity Utilization Rise More Than Expected in May, Fed Says

    Industrial production in the US rose more than expected last month, led higher by utilities, according to Federal Reserve data released on Friday. The Fed said industrial production rose 0.4% in May following a revised 0.4% contraction in April. Econoday had expected a 0.2% gain Utilities climbed 2.1% while manufacturing firmed 0.2%. Mining added 0.1%. “As encouraging as this headline... Continue reading

     
  • Sprint, T-Mobile Shares Rise as Justice Department Reportedly Nears Approving Merger

    Sprint, T-Mobile Shares Rise as Justice Department Reportedly Nears Approving Merger

    Sprint (S) shares were up 3% and T-Mobile (TMUS) shares were up 1% on Friday afternoon, after The New York Times reported that the Justice Department is moving closer to approving the $26 billion merger between the two carriers, but only if the companies sell multiple assets to create a new wireless competitor, according to three sources familiar with the... Continue reading

     
  • Goldman Sachs to Combine 4 Units And Plan to Raise Money

    Goldman Sachs to Combine 4 Units And Plan to Raise Money

    Goldman Sachs Group (GS) plans to combine four separate units that invest in private companies, real estate and other hard-to-access deals, create a new unit and plan a fundraising blitz, according to people familiar with the matter, cited by the Wall Street Journal. The division’s exact makeup will take shape over the next few months, but it is likely to... Continue reading

     
  • Wall Street Falters Ahead of Opening Bell as China Toughens Trade War Rhetoric

    Wall Street Falters Ahead of Opening Bell as China Toughens Trade War Rhetoric

    US stocks were set for a downbeat session Friday after Chinese state-run media toughened their rhetoric on the increasingly acrimonious trade dispute between two of the world’s largest economies. In a front page commentary, the Communist Party’s People’s Daily said the trade war with the United States will only make China stronger and will never bring the country to its... Continue reading