Wall Street tumbles as virus fears hit travel, growth stocks

Wall Street tumbles as virus fears hit travel, growth stocks
(Reuters) – Wall Street’s main indexes fell more than 1% on Monday as investors worried about the economic fallout of a virus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities... Read More

Travel, tech stocks lead Wall St. lower as China virus fears mount

Travel, tech stocks lead Wall St. lower as China virus fears mount
(Reuters) – U.S. stocks fell more than 1% on Monday as investors worried about the economic fallout of the fast-spreading coronavirus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. FILE PHOTO: A trader works on the floor of the New York Stock Exchange shortly after the opening... Read More

Business survey suggests U.S. labor market may have peaked

Business survey suggests U.S. labor market may have peaked
WASHINGTON (Reuters) – There is an even balance in the share of U.S. businesses reporting decreases and increases in employment for the first time in a decade, a survey showed on Monday, the latest suggestion that the labor market has likely peaked and job growth could slow this year. FILE PHOTO: People attend TechFair LA, a technology job fair, in... Read More

Bargain hunters fire up rally in cannabis stocks

Bargain hunters fire up rally in cannabis stocks
NEW YORK (Reuters) – Some cannabis stocks are seeing their prices surge as investors hunt for winners in the ashes of an industry shakeout that hammered share prices last year. FILE PHOTO: Chemdawg marijuana plants grow at a facility in Smiths Falls, Ontario, Canada October 29, 2019. REUTERS/Blair Gable/File Photo Shares of Tilray Inc (TLRY.O) and Canopy Growth Corp (WEED.TO)... Read More

Real estate developer in $240 million deal to buy Philadelphia refinery

Real estate developer in $240 million deal to buy Philadelphia refinery
NEW YORK (Reuters) – Real estate developer Hilco Redevelopment Partners has entered into a $240 million agreement to purchase the Philadelphia Energy Solutions oil refinery, which was the largest and oldest on the East Coast, according to court documents on Wednesday. FILE PHOTO: The Philadelphia Energy Solutions oil refinery is seen at sunset in front of the Philadelphia skyline March... Read More

Philly refinery sale draws $240 million winning bid from real estate developer

Philly refinery sale draws $240 million winning bid from real estate developer
FILE PHOTO: A boat passes beside the Philadelphia Energy Solutions plant refinery in Philadelphia, Pennsylvania, U.S., August 21, 2019. REUTERS/Mark Makela/File Photo NEW YORK (Reuters) – Chicago-based real estate developer Hilco Redevelopment Partners is expected to pay $240 million in its winning bid for the Philadelphia Energy Solutions refinery site, bankruptcy court documents showed on Wednesday. Any sale would have... Read More

Wall Street falls as China virus reaches the U.S.

Wall Street falls as China virus reaches the U.S.
NEW YORK (Reuters) – Wall Street lost ground on Tuesday, backing away from record highs as a viral outbreak from China found its way to U.S. shores and the International Monetary Fund (IMF) lowered its global economic growth forecast. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 21, 2020. REUTERS/Brendan McDermid... Read More

Wall Street loses ground as China virus spooks investors

Wall Street loses ground as China virus spooks investors
NEW YORK (Reuters) – Wall Street backed away from all-time highs on Tuesday as investors returned from a holiday weekend to face a viral outbreak in China and a downbeat global growth outlook from the International Monetary Fund (IMF). Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 21, 2020. REUTERS/Brendan McDermid... Read More