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Top dog: Shares of online pet store Chewy soar in debut

Jun. 14, 2019 5:05 PM EDT

NEW YORK (AP) — It was raining cats and dogs on Wall Street. Chewy, the online seller of pet food and squeaky toys, made a strong showing in its debut on the New York Stock Exchange Friday, with investors banking on the growing pet industry. Its shares soared 59% Friday under the symbol "CHWY," putting the...

Stocks post small losses; investors look ahead to Fed

Jun. 14, 2019 5:02 PM EDT

NEW YORK (AP) — Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates. Technology shares drove the declines, and energy stocks also fell a day after leading the market. Some late-day gains in banks and insurers...

Markets Right Now: Stocks fall on fresh concerns about trade

Jun. 14, 2019 4:12 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are finishing lower Friday amid more concerns about the business impact of the U.S.-China trade dispute. Technology shares dropped after chipmaker Broadcom reduced its 2019 revenue forecast by $2 billion,...

Stocks don't always get a boost when the Fed cuts rates

Jun. 14, 2019 2:51 PM EDT

When the Federal Reserve cuts interest rates, or even hints that it's about to, investors cheer. That's because lowering rates stokes the overall economy, which sends stock prices higher — usually, that is. The Fed has initiated 16 rate cut cycles since World War II. In 11 of those cycles, the stock market...

Broadcom shares fall as chipmaker warns on trade war impact

Jun. 14, 2019 1:32 PM EDT

NEW YORK (AP) — Chipmakers suffered broad declines Friday after Broadcom warned that its business is being hurt by the U.S. trade dispute with China, including the Trump administration's efforts to curb sales to the Chinese telecom giant Huawei. After the market closed on Thursday, Broadcom reduced its...

Trump says he plans to keep criticizing Fed over rates

Jun. 14, 2019 12:22 PM EDT

WASHINGTON (AP) — President Donald Trump says he has no intention of ending his public attacks on the Federal Reserve's interest rate policies even though he knows he has made Chairman Jerome Powell's job more difficult. Trump told ABC News in an interview released Friday that he thinks economic growth and...

Concerns over Persian Gulf escalation weigh on markets

Jun. 14, 2019 7:54 AM EDT

TOKYO (AP) — Global shares mostly fell Friday as investors fretted over the mounting crisis in the Persian Gulf and lingering worries about trade conflict between the U.S. and China. The U.S. has blamed the suspected attacks Thursday on two oil tankers near the strategic Strait of Hormuz on Iran and that...

Asian shares mixed over concerns about oil tankers, trade

Jun. 13, 2019 10:52 PM EDT

TOKYO (AP) — Asian shares were mixed Friday as investors weighed a variety of factors, including suspected attacks on two oil tankers in the strategic Strait of Hormuz and lingering worries about trade conflict between the U.S. and China. Japan's benchmark Nikkei 225 edged up 0.2% to 21,076.11 in morning...

How major US stock indexes fared Thursday

Jun. 13, 2019 5:10 PM EDT

Stocks closed broadly higher Thursday, led by gains in retailers and media and energy companies. U.S. crude oil rose 2.2% after two oil tankers near the strategic Strait of Hormuz were damaged in suspected attacks. Gains in energy and internet companies powered the rally, which ended the market's two-day losing...

Markets Right Now: Stocks rise, break short losing streak

Jun. 13, 2019 4:19 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are closing higher Thursday, led by gains in retailers and media and energy companies. Hess rose 2.9% and Halliburton gained 2.8% as an increase in oil prices boosted energy stocks. Oil rose 2.2% after two...