The Nasdaq Composite Index fell into its 70th correction in history on Wednesday, as surging long-term Treasury yields increased borrowing costs and weighed on stocks. The interest rate sensitive Nasdaq COMP barreled…
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Morgan Stanley names Ted Pick its next CEO
Morgan Stanley said late Wednesday that Co-President Edward “Ted” Pick will become its chief executive, effective Jan. 1. Outgoing Chief Executive James Gorman will become executive chairman, Morgan Stanley said. Pick will…
Morgan Stanley names Ted Pick its next CEO
Morgan Stanley said late Wednesday that Co-President Edward “Ted” Pick will become its chief executive, effective Jan. 1. Outgoing Chief Executive James Gorman will become executive chairman, Morgan Stanley said. Pick will…
Morgan Stanley Names Ted Pick as Next Chief Executive
Updated Oct. 25, 2023 6:16 pm ET Morgan Stanley named Ted Pick as its next chief executive to replace longtime CEO James Gorman, ushering in a new era for the Wall Street…
Tech Stocks Tumble, Pushing Nasdaq Lower
A steep drop in shares of Alphabet, Amazon.com and other technology companies dragged the Nasdaq Composite into correction territory Wednesday. The tech-heavy index slid 2.4% in a punishing session that pulled it…
Meta Sees Continued Rebound in Advertising, Reports Largest Sales in Years
Facebook parent Meta Platforms reported its largest quarterly revenue in years as demand for advertising picks up again. Meta’s sales increased to $34.1 billion, up more than 23% compared with a year…
UAW appears to be moving toward a potential deal with Ford that could end strike
DETROIT (AP) — The United Auto Workers union appears to be edging closer to a tentative contract agreement with Ford that would be critical to ending the union’s 6-week-old strikes against the…
Jury Convicts Hedge-Fund Manager Accused of Rigging Foreign-Exchange Market
A London hedge-fund manager accused of manipulating the foreign-exchange market was convicted Wednesday of fraud in a trial that opened a window into a complex corner of the global currency-trading business. A…
Oil prices inch higher after losing much of their war premium during a 3-session decline
Oil prices moved higher on Wednesday, recovering from early losses after already losing much of their Israel-Hamas war premium during three consecutive session declines. Prices had been bogged down in early dealings…
U.S. Oil Inventories Increase Amid High Production
Oct. 25, 2023 11:07 am ET U.S. oil inventories rose by more than expected last week according to data released Wednesday by the Energy Information Administration, weakening already declining crude prices. The…