Stocks have seen recent episodes of volatility amid an unusually calm year — but one strategist thinks this is all wrong.Read More »
The Dow Jones Industrial Average on Monday briefly traded below an important trend line in early Monday trade, underscoring a steady deterioration of the benchmark's bullish trajectory. The Dow DJIA, -0.01% which was currently paring its losses, traded at an intraday low at 21,600, which puts the equity gauge below its 50-day moving average of 21,629.16, according to FactSet data. It's the first time Dow has slipped below that short-term average level since mid May. Market technicians consider short-term and long-term moving averages in an asset as a dividing line between downward and upward momentum. The Dow, and other U.S. stock benchmarks have been retreating in recent action. All three, the
Fast food chain McDonald's said on Monday it planned to shut all 169 of its restaurants in India's northern and eastern regions, escalating a dispute with its local partner and potentially putting thousands of workers out of jobs. The U.S. company said it was "compelled" to take the action because its partner Connaught Plaza Restaurants Pvt Ltd (CPRL) had breached the terms of their franchise agreements. Vikram Bakshi, managing director of CPRL, told Reuters the decision came as a "big shock" and the company was studying all its legal options.
The Bank of New York Mellon Corp. (BK) has opened its first Houston wealth management office. Thomas Cademartori has been named regional managing director for the Houston office of BNY Mellon Wealth Management at 2229 San Felipe St. He’ll lead the Houston office along with Texas Regional President Todd Carlton, who’s based in Dallas. Most recently, Cademartori was vice president in BNY Mellon Wealth Management’s Dallas office.