• U.S. to pay $3.2 billion to Pfizer, BioNTech for more COVID-19 vaccines for fall
    on June 29, 2022 at 9:03 pm

    Pfizer Inc. and BioNTech SE said late Wednesday they have inked a new agreement with the U.S. government to supply 105 million doses of their COVID-19 vaccines, including a formulation adapted to target omicron variants, pending approval from the FDA. The two pharma companies said the doses are expected to be delivered as soon as late summer, and continue into the end of the year. Under the agreement, the U.S. has the option to buy up to 195 million additional doses, which would bring the total number of potential doses to 300 million. "As the virus evolves, this new agreement will help ensure people across the country have access to vaccines that may provide protection against current and future variants," Pfizer Chief Executive Albert Bourla said in a statement. Shares of Pfizer rose 0.6% in after the news, matching their advance in the regular session, while the American depositary receipts of BioNTech rose 1.2% after hours following a 1.5% advance during regular trading. 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.

  • Xerox CEO Visentin passes away
    on June 29, 2022 at 8:56 pm

    Xerox Holdings Corp. on Wednesday announced the death of Chief Executive John Visentin "due to complications from an ongoing illness." Steve Bandrowczak, Xerox's president and chief operations officer, will serve as interim CEO.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 clings to gain as stocks post mixed finish
    on June 29, 2022 at 8:03 pm

    U.S. stocks ended near unchanged Wednesday, with the Dow Jones Industrial Average hanging on to a small gain, as investors weighed remarks by Federal Reserve Chair Jerome Powell. The Fed chief, speaking at a central banking conference in Portugal, said that he sees a path back to 2% inflation while sustaining a strong labor market as monetary policy tightens, but warned there was "no guarantee that we can do that." The Dow ended around 81 points higher, up 0.3%, near 31,028, according to preliminary figures. The S&P 500 fell around 3 points, or 0.1%, to close near 3,819, while the Nasdaq Composite lost less than 0.1% to finish near 11,178.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 end lower after three consecutive session gains
    on June 29, 2022 at 6:46 pm

    Oil futures ended lower on Wednesday, pulling back after posting three consecutive gains, ahead of a meeting of key oil producers Thursday. The Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, are expected to confirm an existing agreement to boost production in August. The loss in oil prices came despite data from the Energy Information Administration which revealed declines in U.S. crude inventories in each of the past two weeks. West Texas Intermediate crude for August delivery fell $1.98, or 1.8%, to settle at $109.78 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.

  • JPMorgan now sees 'reasonable' risk U.S. and/or global economy 'slips into recession' in 2022
    on June 29, 2022 at 6:25 pm

    In a note released on Wednesday, after data showed first-quarter U.S. gross domestic product contracted by more than previously estimated, JPMorgan Chase & Co.'s Bruce Kasman and Joseph Lipton said "it is reasonable to consider the risk that the US and/or global economy slips into recession this year." They said "rising concern about persistent inflation shocks has combined with news of a more aggressive Fed and sliding sentiment to materially shift our views on 2H22 growth." Just a week ago, JPMorgan released a global markets outlook that indicated the firm's economics department saw no recession materializing this year.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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