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Texas Gov. Greg Abbott pauses reopening of state after spike in COVID-19 cases and hospitalizations

Texas Gov. Greg Abbott said Thursday he is pausing the reopening of the state as it responds to a spike in cases of COVID-19 and hospitalizations. Businesses that were allowed reopen under previous phases of reopening can still operate at the designated capacity levels and under health protocols provided by the Texas Department of State Health Services. "As we experience an increase in both positive COVID-19 cases and hospitalizations, we are focused on strategies that slow the spread of this virus while also allowing Texans to continue earning a paycheck to support their families," the governor said in a statement. He called on Texans to wear face masks, wash their hands frequently and socially distance.

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Texas Gov. Greg Abbott pauses reopening of state after spike in COVID-19 cases and hospitalizations Texas Gov. Greg Abbott said Thursday he is pausing the reopening of the state as it responds to a spike in cases of COVID-19 and hospitalizations. Businesses...

Kroger raises quarterly dividend to 18 cents from16 cents

The Kroger Co. said Thursday its board has approved an increase in its quarterly dividend to 18 cents a share from 16 cents. The new dividend will be payable Sept. 1, to shareholders of record as of close of business Aug. 14. The supermarket chain posted better-than-expected first-quarter earnings last week. Shares were up 1% Thursday, and have gained 14% in the year to date, while the S&P 500 has fallen 6%.

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Kroger raises quarterly dividend to 18 cents from16 cents The Kroger Co. undefined said Thursday its board has approved an increase in its quarterly dividend to 18 cents a share from 16 cents. The new dividend will...

Target expands grocery order pickup service nationwide and experts say it will drive sales

Target Corp. has announced the nationwide expansion of its Order Pickup and Drive Up services for groceries and Moody's retail analyst Charlie O'Shea says it will give sales a bump. "Target's announcement that it was expanding food offerings for curbside pickup will increase sales and shopping frequency, the combination of which will likely minimize the negative impact on margin, and is therefore credit positive," he said in a statement. "This move, which has been in the works pre-COVID, will result in the attraction of new food shoppers, and also broaden Target's customer base, which will potentially result in increased sales of its higher margin private and exclusive merchandise." Target will start the expansion in the Midwest after pilots in the Twin Cities and Kansas City. The service will be available in 400 stores by month end, and 1,500 stores by the holidays. Both services are free. Target stock slipped 0.8% in Thursday trading, and is down 7.4% for the year to date. The S&P 500 index has fallen 5.8% for 2020 so far.

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Target expands grocery order pickup service nationwide and experts say it will drive sales Target Corp. undefined has announced the nationwide expansion of its Order Pickup and Drive Up services for groceries and Moody's retail analyst Charlie...

Bank stocks jolt market higher Thursday morning after FDIC said to loosen crisis-era Volcker regulations: reports

The stock market late-morning Thursday jumped into positive territory after a report indicated that officials from the Federal Deposit Insurance Commission would move to ease some regulations for the banking sector following a meeting. According to a Bloomberg report,cited by CNBC, the FDIC and another regulator, the Office of the Comptroller of the Currency, will soon vote on rolling back rules that prohibit banks from using their balance sheets to invest in companies and other assets, the regulators may also loosen rules pertaining to the amount of cash and cash equivalents the financial institutions would be required to set aside for reserves. The rules are related to regulations that were implemented in the aftermath of the 2008-09 financial crisis, known as the Volcker Rule, named after former Federal Reserve Chairman Paul Volcker. Shares of banks briefly burst higher on Thursday. The exchange-traded fund Financial Select Sector SPDR ETF which tracks the S&P 500's financial sector, was trading 1.5% higher, as was the SPDR S&P Bank ETF and the Invesco KBW Bank ETF . The S&P 500 index was off less than 0.1%, at last check, while the Dow Jones Industrial Average was trading little changed at 25,442 and the Nasdaq Composite Index was about 0.1% higher at 9,913. The broader market had started trade lower amid signs of rising coronavirus cases. The reports for banks also come ahead of a stress test of the financial sector, with the results expected to be released at 4:30 p.m. Eastern Time Thursday.

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Bank stocks jolt market higher Thursday morning after FDIC said to loosen crisis-era Volcker regulations: reports The stock market late-morning Thursday jumped into positive territory after a report indicated that officials from the Federal Deposit Insurance Commission...

Vaccine makers face biggest medical manufacturing challenge in history

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Vaccine makers face biggest medical manufacturing challenge in history Vaccine makers face biggest medical manufacturing challenge in history

Stocks - Wall Street Opens Lower as Jobless Data Fail to Turn Mood Around

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Stocks - Wall Street Opens Lower as Jobless Data Fail to Turn Mood Around Stocks - Wall Street Opens Lower as Jobless Data Fail to Turn Mood Around

Nvidia stock rises after Susquehanna boosts target to new Street high

Shares of Nvidia Corp. are up 1% in Thursday trading after Susquehanna analyst Christopher Rolland raised his price target on the stock to $450 from $420. His new target is the highest listed on FactSet. He's more upbeat on the company's prospects following a recent call with Nvidia's management team that touched on data-center and automotive progress as well as the company's integration of Mellanox, which it recently acquired. Rolland estimates that the Mellanox assets could add at least $20 billion to $30 billion to Nvidia's market value over time. "We believe Mellanox increases the overall value proposition for data center, enterprise, real-time gaming (perhaps), and automotive products from Nvidia," Rolland wrote. He's intrigued by the company's opportunities in "low-latency automatic Ethernet," which he said could help crack the "real-time AV [automative vehicle] puzzle." Rolland has a positive rating on Nvidia shares, which have gained 52% over the past three months as the S&P 500 has climbed 23%.

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Nvidia stock rises after Susquehanna boosts target to new Street high Shares of Nvidia Corp. undefined are up 1% in Thursday trading after Susquehanna analyst Christopher Rolland raised his price target on the stock to $450...

Dow slumps at Thursday's open, but Nasdaq briefly pops higher, as stocks attempt recovery from worst decline in nearly 2 weeks

U.S. stocks benchmarks slipped slightly at Thursday's open, but technology-related stocks were still getting bought, as the main indexes looked to recover from the worst one-day skid in about two weeks on Wednesday, amid growing signs that the daily count of new COVID-19 cases is accelerating, snarling efforts to reopen businesses in several states and threatening the economy's recovery. Investors digested an array of data including a labor-market report that showed that Americans filed 1.48 million new jobless claims in the week ended June 20, fewer than in the previous week, but more than the 1.38 million forecast in a MarketWatch survey. Separately, the final reading of first-quarter U.S. gross domestic product, the official scorecard of the health of the U.S. economy, showed that the economy contracted at an annualized pace of 5%. And a report on orders for long-lasting, or durable, goods, showed they rose 15.8% in May.

The Dow Jones Industrial Average fell 124 points, or 0.5%, at 25,344, the S&P 500 index declined 0.2% at 3,043, while the Nasdaq Composite Index declined less than 0.1% at 9,909, trading little changed, after all three benchmarks saw their worst one-day declines since a sell-off on June 11. Meanwhile, Macy's shares were in focus after the giant retailer announced 3,900 layoffs.

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Dow slumps at Thursday's open, but Nasdaq briefly pops higher, as stocks attempt recovery from worst decline in nearly 2 weeks U.S. stocks benchmarks slipped slightly at Thursday's open, but technology-related stocks were still getting bought, as the main indexes looked to recover...

Yum Brands to invest $100 million over the next five years to fight inequality and racism

Yum Brands Inc. said Thursday that it will invest $100 million over the next five years to fight inequality through the "Unlocking Opportunity Initiative." The initiative will focus on equity and inclusion, education and entrepreneurship, and aims to open doors for employees and communities around the world. The effort will begin in the U.S. where the company makes 40% of its sales. Yum Brands portfolio of restaurant chains includes KFC, Taco Bell and Pizza Hut. The effort includes a $50 million contribution to the Yum Foundation. The contribution will be reported with earnings for the period ending June 30. Yum Brands shares has slumped 14.1% in 2020 while the S&P 500 index is down 5.6% for the period.

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Yum Brands to invest $100 million over the next five years to fight inequality and racism Yum Brands Inc. undefined said Thursday that it will invest $100 million over the next five years to fight inequality through the "Unlocking Opportunity...

U.S. Initial Jobless Claims Fall To 1.48M, Continuing Claims Edge Below 20M

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U.S. Initial Jobless Claims Fall To 1.48M, Continuing Claims Edge Below 20M U.S. Initial Jobless Claims Fall To 1.48M, Continuing Claims Edge Below 20M

U.S. trade deficit in goods widens in May as exports fall sharply

The U.S. trade deficit in goods widened 5.1% in May as exports fell sharply, according to the Commerce Department's advanced estimate released Thursday. The gap in goods widened to $74.3 billion in May from a revised $70.7 billion in the prior month. That is a much wider than the $66.5 billion estimate of economists polled by MarketWatch. Exports of goods dropped $5.5 billion to $90.1 in May. Imports fell $1.9 billion to $164.4 billion. The report also showed a 1.2% decline in wholesale inventories in May. And advanced retail inventories were down 6.1%. Excluding autos, retail inventories were down 1.5%.

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U.S. trade deficit in goods widens in May as exports fall sharply The U.S. trade deficit in goods widened 5.1% in May as exports fell sharply, according to the Commerce Department's advanced estimate released Thursday. The...

U.S. first-quarter GDP declines at 5% pace, unrevised from prior estimate

The pace of contraction in the economy was left at 5% in the first quarter in the final estimate from the Commerce Department on Thursday. Using more complete source data, the government found that consumer spending was weaker than previously estimated. This was offset by upward revisions to business fixed investment. The data for the first was dragged down by the impact from the coronavirus pandemic that hit hard at the end of the period. Federal Reserve officials and private-sector economists have forecast an unprecedented contraction in GDP in the April-June quarter. Economists surveyed by MarketWatch expect a decline at a 29.5% annual rate. The data will be released on July 30.

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U.S. first-quarter GDP declines at 5% pace, unrevised from prior estimate The pace of contraction in the economy was left at 5% in the first quarter in the final estimate from the Commerce Department on Thursday. Using more...