Stocks rebound as market clawbacks last week losses
U S stocks rose Monday led by technology shares signaling a broad rally. The S P 500 gained 0.9 percent to 5010 60 while the Dow rose 253.58 to 38239 98 and the Nasdaq climbed 169.30 to 15451 31. Nvidia jumped 4.4 percent and Alphabet up 1.4 percent as yields stabilized. Bank shares also advanced after upbeat earnings reports with Truist Financial up 3.4 percent. Verizon fell 4.7 percent after quarterly results. The Magnificent Seven and earnings season loom with about 30 percent of S P 500 firms reporting in Q1.
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Express files for Chapter 11 closes 105 stores in sale bid
Ohio retailer Express files for Chapter 11 protection after shuttering 95 Express stores and 10 UpWest outlets across 30 states and Washington DC. WHP Global group explores buying majority of stores with Simon Property Group and Brookfield. Express seeks court approval for $35 million new financing while continuing operations and planning a sale process.
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Delta to raise pay for nonunion staff amid flight attendant drive
Delta Air Lines will boost pay for flight attendants and ground workers by 5 percent and raise the minimum wage to 19 dollars per hour for U.S. workers, with merit raises set aside. The move covers more than 80 000 employees as unions press a new drive led by the Association of Flight Attendants.
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