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Independent Articles For Our Investors

Stock rally turns indexes positive for week as inflation concerns wane

Friday February 23rd, 2018 09:02:45 PM
U.S. stocks closed sharply higher on Friday, with major indexes ending up more than 1% as investors grew less concerned over the prospect of the Federal Reserve becoming more aggressive in raising interest rates in order to combat inflation. The Dow Jones Industrial Average rose 1.4%, or 349 points, to 25,312. The S&P 500 added 43 points, or 1.6%, to 2,747. The Nasdaq Composite Index climbed 127 points, or 1.8%, to 7,337. Both the Dow and the S&P posted their second straight daily gain, while the Nasdaq snapped a four-day losing streak. All three posted a second straight weekly advance; the Dow rose 0.4% over the week while the S&P added 0.6% and the Nasdaq rose 1.4%. Recent trading has been driven by concerns that inflation could be returning to the market, and that the Federal Reserve may have to become more aggressive to combat such a scenario. In its semiannual monetary policy report to Congress, the Fed signaled that it saw broad improvement in the U.S. economy, and while it pointed to a pickup in inflation toward the end of last year, it didn't suggest that a rise in prices warranted more aggressive policy action. That helped support equity prices in afternoon trading. The day's gains were broad, with all 11 primary S&P 500 sectors ending higher on the day. Technology shares were among the biggest percentage gainers, up 2.2%, while energy rose 2.2%, supported by a 1.2% increase in the price of crude oil. In company news, HP Inc. rose 3.5% after stronger-than-expected results, while Hewlett Packard Enterprise Co. also rallied in the wake of its results. The stock closed 10.5% higher. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Dropbox officially files for initial public offering

Friday February 23rd, 2018 08:35:31 PM
Dropbox Inc. publicly filed for an initial public offering Friday, setting the stage for a long-awaited debut of a Silicon Valley startup that was valued at $10 billion in private investment four years ago. The cloud-based online storage network estimated that it would seek to raise $500 million in the offering, though that figure is typically a placeholder that will be updated in later filings. The company, which was founded in 2007, revealed growing revenue and shrinking losses in the filing. Revenue rose from $603.8 million to $844.8 million to $1.1 billion in the last three calendar years, while losses fell from $325.9 million to $210.2 million to $111.7 million in the same time period. Dropbox has raised more than $600 million in private funding, and was valued at $10 billion in its last round in January 2014, according to The Wall Street Journal. The company plans to list on the Nasdaq exchange under the ticker symbol DBX, and Goldman Sachs and J.P. Morgan are listed as lead underwriters among 12 banks named.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Treasury secretary says we can get paid more and prices won't rise. Well...

Friday February 23rd, 2018 07:01:48 PM
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