• : Amazon hires three rocket launches from Musk’s SpaceX
    on December 1, 2023 at 9:35 pm

    Amazon.com Inc. AMZNsaid Friday it has hired Elon Musk’s SpaceX for three Falcon 9 rocket launches to support deployment plans for Project Kuiper, Amazon’s low Earth orbit satellite broadband network. The deal, the first between the companies, is considered a surprise since the Kuiper system is likely to compete with SpaceX’s Starlink in the satellite broadband market. Amazon previously ordered launches from three of SpaceX’s top rocket rivals, including Jeff Bezos’ Blue Origin. Amazon declined to comment on terms of the new deal with SpaceX.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.

  • : Dow posts highest close in nearly 2 years, equities extend rally to five straight weeks
    on December 1, 2023 at 9:02 pm

    U.S. stocks powered higher on Friday, shrugging off tough talk from Federal Reserve Chairman Jerome Powell about it being too early to talk about rate cuts. The Dow Jones Industrial Average DJIA gained about 294 points, or 0.8%, ending near 36,245, according to preliminary FactSet data. The S&P 500 index SPX rose 0.6%, while the Nasdaq Composite Index COMP gained 0.6%. All three indexes also ended the week higher for five straight weeks. The gains allowed the Dow to clinch its highest close since since January 2022, while the S&P 500 finished at its highest level since March 2022, according to Dow Jones Market Data. The powerful rally in equities since early November has been attributed to easing inflation, falling long-term Treasury yields and expectations for rate cuts next year The 10-year Treasury yield BX:TMUBMUSD10Y fell to 4.225% on Friday, after hitting 5% in October, ending the week at its lowest yield since early September, according to DJMD.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.

  • : Oil futures mark back-to-back losses with traders skeptical of OPEC+ output cuts
    on December 1, 2023 at 7:57 pm

    Oil futures finished lower on Friday for a second session in a row. Traders looked to a decision by OPEC+ to cut production further in the first quarter with skepticism. “It seems traders either aren’t buying that members will be compliant or don’t view it as being sufficient,” said Craig Erlam, senior market analyst at OANDA. It could also be that the “lack of formal commitment hints at fractures within the alliance, which could impact its ability to hit its targets, let alone cut further if necessary.” January West Texas Intermediate crude CLF24 fell $1.89, or 2.5%, to settle at $74.07 a barrel on the New York Mercantile Exchange. Prices based on the front-month contract fell nearly 2% for the week, according to Dow Jones Market Data.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.

  • : Gold futures climb nearly 2% to their highest levels on record
    on December 1, 2023 at 6:53 pm

    Gold futures rallied Friday, with prices reaching record settlement and intraday highs on Comex. Gold prices surged as the market reacted to the escalating tensions in the Middle East, said Bas Kooijman, CEO and asset manager of DHF Capital. The escalation has “helped extend gold’s uptrend of the last two months as traders take into account changing expectations regarding monetary policy.” February gold GCG24 rose $32.50, or 1.6%, to settle at $2,089.70 an ounce after trading as high as $2,095.70. Prices based on the most-active contract marked their highest settlement and intraday price levels on record, according to Dow Jones Market Data.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.

  • : Ulta Beauty’s stock up 11.7% and on track for biggest one-day gain since May of 2022
    on December 1, 2023 at 3:26 pm

    Ulta Beauty Inc.’s stock ULTA rose 11.7% Friday to put it on track for its biggest one-day percentage gain since May 27, 2022, when it rose 12.5%, according to Dow Jones Market Data. The stock has gained for seven straight days, chalking up a 17.5% gain in the period. The stock rallied after-hours Thursday, after Ulta beat third-quarter consensus estimates for profit, sales and same-store sales and tightened its guidance by raising the low end of the range. The stock is up 0.5% in the year to date, while the S&P 500 SPX has gained 19%. 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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