S&P and Dow adding to gains from winningest stock-market week since June
U.S. stocks opened higher on Monday after a volatile night of trading for futures as investors continued...
U.S. stocks opened higher on Monday after a volatile night of trading for futures as investors continued to react to shifting expectations about the future pace of Federal Reserve rate hikes. The S&P 500 SPX, 0.67% rose 12 points, or 0.3%, to 3,763. The Dow Jones Industrial Average DJIA, 1.08% gained 184 points, or 0.6%, to 31,277. The Nasdaq Composite COMP, -0.03% fell 44 points, or 0.4%, to 10,812.
The race to replace UK Prime Minister Liz Truss gets underway today,...
The race to replace UK Prime Minister Liz Truss gets underway today, a process that will conclude this week and possibly as early as this afternoon. The Conservative Party vote follows Truss' resignation Friday, capping a stint that was the shortest premiership in British history.
Chinese President Xi Jinping secured a third term as the Communist Party's general secretary, the party's top job, as the weeklong 20th Party Congress came to a close. Xi is expected to receive a third term as president in March as well (see power breakdown).
The widely expected extension of Xi's tenure breaks from a trend in recent decades where party leaders have stepped down from the role after two terms (see party background). In 2018, the country's legislature—made up mostly of Communist Party members—removed presidential term limits shortly after adding Xi's political doctrines to its constitution. With at least five more years of leadership, Xi will become the longest-serving leader in modern Chinese history since Mao Zedong.
The formal proceedings were interrupted by the unexplained removal of Xi's predecessor Hu Jintao, provoking international speculation. See the video here.
Dow and S&P futures are up early Monday, but the Nasdaq is lagging as the likes...
Dow and S&P futures are up early Monday, but the Nasdaq is lagging as the likes of Alibaba sink. Xi's weekend power play also sent Hong Kong stocks to a 14-year low. Here are the latest market moves.
Earnings on deck: Discover Financial Services, Logitech International, HSBC, all reporting.
Ørsted Sells $410 Million Stake in US Wind, Solar Projects to PE Firm
Ørsted partnered with Energy Capital Partners (ECP) for the...
Ørsted partnered with Energy Capital Partners (ECP) for the Danish energy company’s first-ever farm-down of onshore assets.
In an Oct. 21 release, Ørsted said it had closed a transaction with ECP, a private equity firm based in New Jersey, to divest a 50 % ownership stake in a portfolio consisting of three onshore wind farms and one solar farm in the U.S.
The transaction, valued at roughly $410 million, is expected to support Ørsted’s ambition to reach 50 gigawatts (GW) of installed renewable energy capacity globally by 2030.
