U.S. stocks closed lower after another volatile session on Friday as the latest White House shake-up kept investors jittery about the outlook for the Trump agenda.Read More »
Tesla Inc. bonds slid a week after they were sold, as excitement over Elon Musk’s ambitious rollout of the Model 3 was tempered amid geopolitical tensions and second thoughts among investors about how little they’re getting paid. The company’s $1.8 billion of 5.3 percent notes due 2025 slipped below par almost immediately, trading as low as 97.4 cents on the dollar on Friday, according to data compiled by Bloomberg. The eight-year securities had priced a week ago at a record-low yield for a bond of its rating and maturity -- a touch higher than initial talk of 5.25 percent -- and Tesla had added $300 million to the offering to meet demand.
Walmart Store Inc.'s (WMT) store of the future may appear to be scarily devoid of employees. In reality, humans will still work there, but expect to see more robots. In addition to Walmart starting to use 16-foot automated towers to distribute online orders, scan-and-go technology to replace cashiers and digital screens to answer customers' questions, it may eventually deploy robots to handle inventory. "One thing is for sure, employees will be in different roles," Greg Foran, president and CEO of Walmart, said in response to a question posed by TheStreet on Thursday, Aug. 17 during a media call. "Do I want to have a situation where in every Supercenter I've got a team of associates out in the
The dreaded Hindenburg Omen is back. Named for the German airship that met its demise in a fiery crash 80 years ago, the appearance of this technical pattern sometimes portends a stock-market crash. Even as the S&P 500 SPX, -0.09% and the Dow Jones Industrial Average DJIA, -0.20% rose Wednesday, there were more stocks hitting 52-week lows than 52-week highs on the New York Stock Exchange — something the market hasn’t seen since July 2015, according to Jason Goepfert, president of Sundial Capital Research, And this divergence has triggered a Hindenburg Omen on the S&P 500 for five out of the last six sessions. “It is a serious signal that highlights times of decoupling within an index or exchange.