Business News Archives - Page 2 of 11

Stock market today: Wall Street finishes mixed as strong fashion, tobacco stocks offset Ford’s drop

NEW YORK (AP) — Wall Street drifted through a mixed day of trading as rising fashion and cigarette stocks worked against drops for Ford Motor and Qualcomm. The S&P 500 rose 0.4% Thursday following healthy gains for stock markets across much of Europe and Asia. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite rose 0.5%. Gains for Tapestry, Ralph Lauren and Philip Morris International pushed upward on indexes. Ford and Qualcomm fell even though both reported stronger profit for the latest quarter than analysts expected. Treasury yields held relatively steady in the bond market ahead of Friday’s looming report on U.S. job growth.… Continue Reading

NC-based Honeywell, one of the few remaining US industrial conglomerates, will split into three companies

Honeywell plans to separate its automation and aerospace technologies businesses from the U.S. industrial conglomerate, following similar actions by companies such as General Electric and Alcoa. Honeywell said Thursday that the move means there will be three publicly listed companies, when also accounting for its previously announced plan to spin off its advanced materials business.… Continue Reading

New NC facility part of Toyota’s EV and battery push in China and U.S.

TOKYO (AP) — Toyota is developing and making electric vehicles and EV batteries in China under a new partnership with the Shanghai government. It’s also producing batteries for EVs, hybrids and plug-ins at a new $14 billion facility in North Carolina. Wednesday’s announcements highlight Toyota’s aggressive push in electric cars, a sector where some critics have said it’s fallen behind rivals like Tesla and Byd. Toyota is setting up a company in Jinshan District in southwest Shanghai for that effort, with production of the new Lexus EVs starting in 2027. Toyota’s quarterly profit jumped 61% from the previous year to 2.19 trillion yen, or $14 billion.… Continue Reading

Trump agrees to pause tariffs on Mexico, but import taxes still in place for Canada and China

WASHINGTON (AP) — Mexican President Claudia Sheinbaum said Monday that after a conversation with U.S. President Donald Trump that the planned tariffs are on hold for a month, a statement confirmed by the White House. Sheinbaum says on X, “Mexico will reinforce the northern border with 10,000 members of the National Guard immediately, to stop drug trafficking from Mexico to the United States, in particular fentanyl.” She says the U.S. committed to stopping high powered weapons from reaching Mexico. The pause added to the drama as Trump’s tariffs against Canada and China are still slated to go into effect on Tuesday.… Continue Reading

Tech stocks tumble as a Chinese competitor threatens to upend the AI industry; Nvidia down 16%

NEW YORK (AP) — Wall Street’s superstars are tumbling as a competitor from China threatens to upend the artificial-intelligence frenzy they’ve been feasting on. The S&P 500 fell 1.7% Monday. Big Tech stocks took some of the heaviest losses, with Nvidia down 16%, and they dragged the Nasdaq composite down 3.2%. Stocks outside of AI-related industries held up much better, though, and the Dow Jones Industrial Average was up 137 points. A Chinese company called DeepSeek said it had developed a large language model that can compete with U.S. giants at a fraction of the cost.… Continue Reading

Stock market today: Wall Street begins Trump’s second term with gains

NEW YORK (AP) — U.S. stocks rose after more companies said they made bigger profits at the end of last year than analysts expected and as Treasury yields eased. The S&P 500 climbed 0.9% Tuesday, while many markets around the world took only tentative steps following Donald Trump’s return to the White House. The Dow Jones Industrial Average added 1.2%, and the Nasdaq composite gained 0.6%. Trump has promised sweeping moves to reshape global trade and the economy, often at other countries’ expense, but stock indexes in Asia and Europe mostly made only modest moves. Bitcoin pulled back from its record set on Monday.… Continue Reading

Stock market today: Wall Street drifts lower as momentum slows for US stocks

NEW YORK (AP) — U.S. stock indexes drifted lower following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies. The S&P 500 slipped 0.2% Thursday, even though more stocks rose than fell within the index. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite fell 0.9%. Stocks had shot higher the day before on hopes that an encouraging report on inflation may convince the Federal Reserve to deliver more cuts to interest rates. Treasury yields eased in the bond market following some mixed reports on the U.S. economy.… Continue Reading

Stock market today: Wall Street rips higher after inflation data and strong bank profits

NEW YORK (AP) — U.S. stocks are ripping higher an encouraging update on U.S. inflation. The S&P 500 jumped 1.7% Wednesday. The Dow Jones Industrial Average climbed 664 points, and the Nasdaq composite gained 2.2%. Strong profit reports from the biggest U.S. banks also helped launch indexes toward their best day in two months. Wells Fargo, Citigroup and Goldman Sachs helped lead the way. Treasury yields eased on hopes that Wednesday’s inflation update could help convince the Federal Reserve to cut interest rates further later this year. European stocks rallied, while Asian markets were more subdued.… Continue Reading

Stock market today: Wall Street ticks higher after encouraging inflation data

NEW YORK (AP) — Most U.S. stocks are rising following an encouraging update on inflation, but drops for Eli Lilly and some other influential companies are keeping indexes in check. The S&P 500 rose 0.1% Tuesday, with roughly 70% of the stocks in the index higher. The Dow Jones Industrial Average added 134 points, and the Nasdaq composite was close to flat. Treasury yields were relatively steady in the bond market after a report showed inflation at the U.S. wholesale level wasn’t as high last month as economists expected. Oil prices gave back some of their big gains from recent weeks.… Continue Reading

Farming and wildfire tech is on display at CES as companies showcase their green innovations and initiatives

LAS VEGAS (AP) — Sustainability is a key theme this year at the annual CES tech trade show in Las Vegas. Agriculture tech is on full display on the show floor while companies big and small also showcase their green innovations and initiatives. That includes Volvo CEO Martin Lundstedt’s vow to reach net-zero emissions by 2040 and Wisconsin-based OshKosh Corporation’s electric fire engines and garbage trucks. John Deere also unveiled a fleet of fully autonomous equipment like tractors that are already in use on some farms and orchards. Some experts say AI is key to the industry’s future as climate change makes farming more unpredictable.… Continue Reading