Moneyline stocks surge as Dow leads rally on rate cut hopes
Stocks opened the week in rally mode as the Dow rose 304 points amid fading odds of a Fed rate hike this year after Friday's weak jobs data. The Nasdaq added 73 points to turn positive for the year, while the S&P 500 climbed 1.8% for the fifth straight winning day.
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Wendy's CEO Emil Brolick to Step Down Next Year
Wendy's said CEO Emil Brolick will retire in May and be replaced by CFO Todd Penegor. Brolick, 67, will stay on the board. Wendy's trades around 8.75 a share.
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USA Today snapshot of auto loan rate trends
Informa Research Services data show current and six month ago averages for new and used auto loans. Four year and five year terms are reported with rates around 3.28 to 3.41 percent for new autos and 3.60 to 3.67 percent for used four year loans.
Facebook tops social media bust as Twitter IPO fades
Facebook emerges as a bright spot amid a sector slump as co founder Jack Dorsey becomes CEO. The stock jumped seven percent on the news while most major social platforms lag, with Twitter's public offering previously triggering wide investor disappointment since its 2013 debut at 44.90 a share.
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Twitter Reinstates Dorsey As CEO Amid Stock Rally
Jon Swartz notes Twitter stock climbs to 28.16 after Dorsey returns as chief executive. Yelp skids 59 percent to 22.68 since 2014 close, with analysts predicting a 35 percent drop in adjusted profit to 43 cents per share. Facebook remains the standout, up 20 percent this year as adjusted profit projects rise 17 percent.
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Trade deal with 11 Pacific Rim nations eyed for longer term gains
The Trans Pacific Partnership aims to cut tariffs up to 70 percent on autos and 40 percent on poultry and fruit and to require partners to meet U S labor and environmental standards. Experts say short term impact is limited but long term benefits include higher exports, more service market access, and potential job shifts.
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Supreme Court denies review in Newman insider trading case
The high court let stand a Second Circuit ruling overturning Anthony Chiasson and Todd Newman convictions. The decision narrows insider trading liability to tippees with direct knowledge of tips and beneficiary exchange, potentially overturning numerous cases and diminishing federal enforcement.
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