Wall Street's main indexes ended higher Wednesday to snap a three-session losing streak as investors jumped back in to take advantage of the pullback in technology-related stocks, a day after the Nasdaq confirmed correction territory.
Spartan Capital Securities chief market economist Peter Cardillo tells Reuters Fred Katayama investors are overly optimistic on the impact of vaccines as AstraZeneca's trial data comes under question. He also provides his view on retailers' prospects for the holiday shopping season.
Business Insider reports that Airbnb is planning to raise $2.6 billion in its mid-December IPO. The IPO would give Airbnb a valuation of up to $35 billion. The company plans to list about 50 million shares at between $44 and $50 per share, a regulatory filing showed. Airbnb will list on the NASDAQ under the symbol "ABNB." It was previously eyeing a $30 billion valuation, with $3 billion in proceeds.
Pope Francis on Saturday installed 13 new cardinals, including the first African-American to hold the high rank, further expanding the pontiff's impact on the group that will one day elect his successor. Fred Katayama reports.
[NFA] Nearly all social gatherings of individuals from more than a single household will be banned in Los Angeles County for at least three weeks starting Monday under new restrictions local health officials unveiled on Friday, citing a continued surge in COVID-19 infections. Fred Katayama reports.