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In this photo provided by the New York Stock Exchange, traders work on the floor during the United Wholesale Mortgage IPO, Friday, Jan. 22, 2021. Wall Street is tapping the brakes on its record-setting rally this week, as markets worldwide take a pause on Friday. (Courtney Crow/New York Stock Exchange via AP)

Mixed finish on Wall Street as worldwide rally takes a pause

Jan. 22, 2021 4:51 PM EST

Wall Street tapped the brakes on its recent record-setting rally Friday with a mixed finish for the major stock indexes, though the S&P 500 still ended the week with its third weekly gain in four. The benchmark index fell 0.3%, snapping a three-day winning streak, but notched a 1.9% gain for the week. The...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 22, 2021. Asian stock markets retreated Friday after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia. (AP Photo/Lee Jin-man)

Asian stocks sink after China coronavirus resurgence

Jan. 21, 2021 11:28 PM EST

BEIJING (AP) — Asian stock markets retreated Friday after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia. Shanghai, Hong Kong, Tokyo and Australia declined. South Korea advanced. Overnight, Wall Street closed higher. Gains for tech stocks offset losses elsewhere....

FILE - A CSX freight train pulls through McKeesport, Pa., on Tuesday, June 2, 2020. CSX railroad reported relatively flat fourth-quarter earnings even though it hauled 4% more freight as the economy continued to rebound from last year’s widespread virus-related shutdowns. The Jacksonville, Florida-based railroad said Thursday, Jan. 21, 2021 it earned $760 million, or 99 cents per share, during the quarter. (AP Photo/Gene J. Puskar)

CSX profit slips in 4Q but railroad hauls 4% more freight

Jan. 21, 2021 7:06 PM EST

OMAHA, Neb. (AP) — CSX railroad reported relatively flat fourth-quarter earnings even though it hauled 4% more freight as the economy continued to rebound from last year’s widespread virus-related shutdowns. The Jacksonville, Florida-based railroad said Thursday it earned $760 million, or 99 cents...

FILE - In this Sept. 13, 2019, file photo the logo for Union Pacific appears above a trading post on the floor of the New York Stock Exchange. Union Pacific’s fourth quarter profit chugged ahead as shipping volume improved for the first time since before the coronavirus pandemic slowed the economy to a crawl last year. The Omaha, Nebraska-based railroad said Thursday, Jan. 21, 2021, that it earned $1.38 billion, or $2.05 per share, in the quarter, but the results were weighed down by a one-time charge of $278 million.  (AP Photo/Richard Drew, File)

Union Pacific delivered 3% more freight as economy recovered

Jan. 21, 2021 1:10 PM EST

OMAHA, Neb. (AP) — Union Pacific's fourth-quarter profit chugged ahead as shipping volume improved for the first time since before the coronavirus pandemic slowed the economy to a crawl last year. The Omaha, Nebraska-based railroad said Thursday that it earned $1.38 billion, or $2.05 per share, in the...

FILE - In this Friday, Jan. 15, 2021, file photo provided by the New York Stock Exchange, trader Ashley Lara works on the floor, in New York. CEOs have begun telling shareholders how much profit their companies made at the end of 2020, and expectations are for a miserable fourth-straight quarter of declines for S&P 500 companies. (Courtney Crow/New York Stock Exchange via AP, File)

Clock ticking for CEOs to grow profits again

Jan. 21, 2021 9:10 AM EST

NEW YORK (AP) — Are better days ahead for corporate profits? They'd better be. CEOs across America have begun telling shareholders how much profit their companies made during the last three months of 2020, just as the worsening pandemic sent death rates soaring. The general expectation is for nothing...

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 21, 2021. Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street. (AP Photo/Ahn Young-joon)

Asian shares rise on optimism for more stimulus from Biden

Jan. 20, 2021 11:07 PM EST

TOKYO (AP) — Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street. Hopes are high that President Joe Biden's administration will mean more support for the struggling U.S. economy, setting off a recovery that's crucial for the export-driven...

FILE - This Oct. 16, 2012, file photo, shows a portion of the UnitedHealth Group Inc.'s campus in Minnetonka, Minn. UnitedHealth has debuted a lower-than-expected 2021 earnings forecast partly because of COVID-19’s still-foggy impact on the health care system. The nation’s largest health insurance provider said Tuesday, Dec. 1, 2020, that it expects to take a hit from treatment and testing costs tied to the ongoing pandemic.  (AP Photo/Jim Mone, File)

UnitedHealth overcomes pandemic hit and tops 4Q expectations

Jan. 20, 2021 10:48 AM EST

UnitedHealth’s fourth-quarter earnings tumbled as costs from COVID-19 hit the health insurance provider, but results still easily beat expectations. Health care use rebounded in the final quarter of 2020 after the global pandemic kept people away from doctor offices and surgery centers when it first...

FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley saw its fourth-quarter profits surge 48% from a year earlier, as the Wall Street bank benefited from the market’s upward swing and investors jubilation for tech stocks and IPOs late last year. (AP Photo/Mark Lennihan, File)

Morgan Stanley profits rise 48%, helped by strong markets

Jan. 20, 2021 10:27 AM EST

CHARLOTTE, N.C. (AP) — Morgan Stanley saw its fourth-quarter profits surge 48% from a year earlier, as the Wall Street bank benefited from the market’s upward swing and investors jubilation for tech stocks and IPOs late last year. The New York-based firm posted a profit $3.39 billion, or $1.81 a...

People are reflected on the electronic board of a securities firm in Tokyo, Wednesday, Jan. 20, 2021. Asian shares were mostly higher Wednesday, ahead of Joe Biden's inauguration as president, ending President Donald Trump’s four-year term. Japan's benchmark lost early gains as worries grew about the surge in coronavirus cases. (AP Photo/Koji Sasahara)

Japan shares fall on pandemic worries as rest of Asia rises

Jan. 19, 2021 10:22 PM EST

TOKYO (AP) — Asian shares were mostly higher Wednesday, ahead of Joe Biden's inauguration as U.S. president. Japan's benchmark lost early gains as worries grew about the surge in coronavirus cases. Japan's benchmark Nikkei 225 lost early gains to slip 0.4% in morning trading to 28,515.21. Australia's...

FILE - In this Oct. 14, 2019 file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building, in Boston.  On Tuesday, Jan. 19, 2021, Bank of America reported fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down the bank. However the bank was able to release more than $800 million from its credit reserves, in a sign that it sees the U.S. economy improving in the coming months. (AP Photo/Steven Senne, File)

Bank of America 4Q profit falls 18% on lower interest rates

Jan. 19, 2021 10:46 AM EST

CHARLOTTE, N.C. (AP) — Bank of America’s fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down its results. However the bank was able to release more than $800 million from its credit reserves, a sign that it sees the U.S. economy improving in the coming months. The...