2 minutes ago
McDonald’s is temporarily closing its offices and preparing to lay off workers
McDonald’s is preparing to lay off workers this week and will temporarily close its offices, according to a report from McDonald’s Wall Street Journal.
The fast food giant is expected to notify employees approximately of their job statuses this week, according to the report.
– Jesse Pound
13 minutes ago
Tesla deliveries in the first quarter jumped 36% year over year
Tesla reported Sunday that it delivered 422,875 vehicles in the first quarter.
The result topped the 310,048 births reported in the same quarter last year, and the 405,278 reported in the fourth quarter. Sales also came after price cuts from the electric car maker.
As of Friday, Wall Street analysts’ estimates for delivery ranged from 410,000 to 451,000, according to FactSet. The median estimate was 432,000.
– Jesse Pound
31 minutes ago
Oil futures rose after Saudi Arabia announced production cuts
Oil futures rose sharply Sunday night after Saudi Arabia and other OPEC+ members announced surprise oil production cuts.
According to a report from Reuters.
U.S. West Texas Intermediate crude futures and European benchmark Brent crude futures rose about 7% each.
– Jesse Pound
41 minutes ago
A look back at Q1
Technology stocks and Nasdaq were the stars of the first quarter, while banking stocks weighed on the broader market. Here are some notable stats from the first three months of 2023.
Nasdaq Composite:
- 16.77% profit
- snapped a four-quarter losing streak
- Still below its record high of 24.61%
Dow Jones Industrial Average:
- 0.38% gain.
- It is still 9.95% below its record high
S&P 500 Index:
- 7.03% profit
- It is still 14.72% below its high
– Jesse Pound, Christopher Hayes
one hour ago
Nasdaq 100 and S&P 500 futures open lower
Futures for the Nasdaq 100 and S&P 500 began trading slightly lower on Sunday evening. Dow futures were flat.
– Jesse Pound
one hour ago
WWE is close to a deal with Endeavor out of the UFC, CNBC reports
CNBC’s Alex Sherman reported Sunday that sports entertainment company WWE is close to closing a deal to merge with Endeavor.
Sources told Sherman that the deal would value WWE at more than $9 billion and would leave Endeavor shareholders with 51% of the combined company. Endeavor is the parent company of the UFC martial arts league.
WWE has been on the sales hold after a series of scandals involving longtime CEO Vince McMahon. Inventory is up 33% year-to-date.
The deal may be announced as soon as Monday.
– Jesse Pound