U.S. stock futures climbed ahead of testimony by Janet Yellen in which she is expected to support higher coronavirus relief spending. Futures tied to the S&P 500 rose 0.8%, pointing to a rally after the opening bell. Those linked to the Nasdaq-100 added 1%, suggesting...
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Opinion | Joe Biden’s Early Test From Moscow and Beijing
President-elect Joe Biden’s advisers have been signaling that they will rely on arms-control agreements with Russia to reduce the Defense Department budget. This is no surprise from a new, liberal administration promising dramatically increased domestic spending. Yet a second Trump term might have been little...
Fiat Chrysler, PSA Group Merge to Create New Auto-Making Behemoth
Fiat Chrysler Automobiles NV and Peugeot-maker PSA Group cemented their trans-Atlantic merger Saturday, creating Stellantis NV, a global auto-making giant that executives say will have the heft needed to compete in a fast-changing industry. The deal, first agreed to in late 2019 and approved earlier...
Jeremy Grantham’s Bubble Forecast Is an Outlier. Is He Right?
Dreamstime Text size “If the shoeshine boys are giving stock tips, it’s time to get out,” goes an old Wall Street saying about bubbles. It needs freshening up, for at least five reasons. Nos. 1, 2, and 3 are that modern audiences might call it...
Stock Futures Slide on Tax Concerns
U.S. stock futures edged lower Friday as some investors grew concerned that President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan could lead to higher taxes. Futures tied to the S&P 500 fell 0.3%, indicating the benchmark index may decline for a second day. Contracts tied...
Car-Safety Regulators Urge Tesla to Recall Around 158,000 Vehicles
Federal regulators are asking Tesla Inc. to recall about 158,000 vehicles over safety concerns in what would amount to one of the biggest safety actions by the electric-vehicle maker. The National Highway Traffic Safety Administration asked Tesla in a Jan. 13 letter to recall some...
Chinese Covid-19 Vaccine Is Far Less Effective Than Initially Touted in Brazil
Brazilian researchers testing China’s Sinovac Vaccine said Tuesday that full data showed it to be 50.38% effective against Covid-19 in late-stage trials, almost 30 percentage points lower than previously announced, as concerns grow over the study’s transparency. The São Paulo-based Butantan Institute said last week...
Opinion | Europe Already Snubs Joe Biden
While Joe Biden says he’ll work with U.S. allies to confront China, the allies get a say too. The European Union’s opening statement isn’t encouraging. After years of talks, China and the EU agreed in principle to the Comprehensive Agreement on Investment (CAI) in the...
WSJ News Exclusive | White House Forced Georgia U.S. Attorney to Resign
White House officials pushed Atlanta’s top federal prosecutor to resign before Georgia’s U.S. Senate runoffs because President Trump was upset he wasn’t doing enough to investigate the president’s unproven claims of election fraud, people familiar with the matter said. A senior Justice Department official, at...
NYSE Reverses Course Again, Will Delist Three Chinese Telecom Stocks
The New York Stock Exchange will move forward with delisting three Chinese telecommunications companies targeted by an executive order from President Trump, reversing course yet again after the NYSE said earlier this week that it wouldn’t delist them. The NYSE said its latest action came...