S&P 500 up slightly in choppy action as Trump gives China announcement

05/29/20 3:09 PM

The S&P 500 was slightly higher on Friday in choppy action as investors absorbed U.S. President Donald Trump's comments on China.

Tencent in talks to buy Warner Music stake: WSJ

05/29/20 2:48 PM

Chinese internet giant Tencent Holdings Ltd is in talks to invest $200 million in Warner Music Group, ahead of the record company's slated initial public offering next week, the Wall Street Journal reported https://www.wsj.com/articles/tencent-in-talks-to-buy-warner-music-stake-11590774885 on Friday.

Morgan Stanley plans June return of some traders to New York headquarters: CNBC

05/29/20 2:42 PM

Morgan Stanley is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on Friday, citing people with knowledge of the situation.

Los Angeles union, joined by 'Pandemic Pig,' demands meatpacking plant closure

05/29/20 2:27 PM

The union representing workers at a meatpacking plant near Los Angeles where at least 153 employees have come down with COVID-19 called on Thursday for the plant's immediate closure, saying measures to control the outbreak were not working.

Oil mixed on U.S.-China tensions but heads for huge monthly rise

05/29/20 2:08 PM

Oil prices were mixed on Friday, but were closing out the month with strong gains, bolstered growing fuel demand even as investors worried about worsening Washington-Beijing relations.

Coffee maker JDE Peet's IPO wrapped up in just 72 hours: sources

05/29/20 1:55 PM

It took just three days to sell shares in JDE Peet's as investors facing a dearth of opportunities because of the coronavirus-induced slow-down rushed to secure a dose of the world's No. 2 maker of packaged coffee.

Coronavirus sinks U.S. consumer spending; savings hit record high

05/29/20 1:45 PM

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

China's Kunlun says U.S approves sale of Grindr to investor group

05/29/20 1:40 PM

Chinese gaming company Beijing Kunlun Tech Co Ltd said on Friday that a U.S. national security panel approved the $620 million sale of popular gay dating app Grindr to an investor group called San Vicente Acquisition LLC.

Wall Street Week Ahead: Investors eye consumer discretionary stocks as U.S. reopens

05/29/20 1:15 PM

Investors are taking a closer look at the market's consumer discretionary companies as a reopening U.S. economy fuels hopes of a turnaround for some of the sector's hardest-hit names.

Wells Fargo reveals new risk management structure

05/29/20 12:56 PM

Wells Fargo & Co on Friday appointed Kevin Reen as chief risk officer (CRO) for its consumer lending arm and Bill Juliano to lead its operational risk management team as it revealed a new organizational structure to provide risk oversight.