AP News | |

Markets worldwide rallied on rising hopes for a COVID-19 vaccine Wednesday, and the S&P 500 climbed back to where it was a few days after it set its record early this year.

Investors see a vaccine as the best way for the economy and human life to get back to normal, and researchers said late Tuesday that one developed by the National Institutes of Health and Moderna revved up people’s immune systems in early testing, as hoped. The S&P 500 rose 0.9% to pull within 4.7% of its all-time high set in February.

AP News | |

Walmart will require customers to wear face coverings at all of its namesake and Sam’s Club stores, making it the largest retailer to introduce such a policy that has otherwise proven difficult to enforce without state and federal requirements.

The company said the policy will go into effect on Monday to allow time to inform stores and customers. The Bentonville, Arkansas-based company said that currently about 65% its more than 5,000...

Equities Staff | |

Until recently, most traditional automakers have resisted allowing drivers to remove their hands from the steering wheel for extended periods of times over concerns about product liability claims.

Spurred by Tesla’s success, however, automakers appear eager to begin profiting from the billions spent on autonomous driving research. Plans to automate routine cruising on highways are being accelerated to become available within five years.

Tesla’s Autopilot, one o...

Equities Staff | |

Goldman Sachs reported higher quarterly profit on Wednesday, driven by the strength of its core bond trading and underwriting businesses.

The firm posted a 93% surge in revenue in its global markets unit, which houses the trading business.

The bank’s net earnings applicable to common shareholders rose 2% to $2.25 billion in the quarter ended June 30. Earnings per share rose to $6.26 from $5.81 a year earlier.

Analysts had expected a profit of $3.78 per share, on average, a...

AP News | |

By Elaine Kurtenbach

Shares rose in global markets on Wednesday as investors took heart from news that an experimental COVID-19 vaccine had revved up people’s immune systems just as desired.

Benchmarks rose in Paris, Frankfurt and Tokyo and U.S. futures also saw sold gains, suggesting a rise on the open on Wall Street.

The focus was on news that scientists soon will begin a 30,000-person study to see if the experimental vaccine developed by Moderna and the U.S. N...

Reuters | |

(Reuters) - Delta Air Lines said on Wednesday it would record charges of up to $3 billion on employee voluntary retirement and separation plans in the current quarter, as the U.S. carrier looks to cut costs due to the coronavirus crisis.

Delta, like other large U.S. airlines, has been encouraging workers to leave voluntarily before a government ban on forced job cuts expires on Sept. 30.

The company, which had more than 91,000 employees in 2019, said on Tuesday that about 17,0...

Reuters | |

Moderna Inc’s experimental vaccine for COVID-19 showed it was safe and provoked immune responses in all 45 healthy volunteers in an ongoing early-stage study, U.S. researchers reported on Tuesday.

No study volunteers experienced a serious side effect, but more than half reported mild or moderate reactions such as fatigue, headache, chills, muscle aches or pain at the injection site.

These were more likely to occur after the second dose and in people who got the highest dose, the team reported in the New England Journal of Medicine.

AP News | |

Wall Street rebounded on Tuesday, and the S&P 500 more than made up all its losses from the day before, after stocks pinballed through another day of erratic trading.

The S&P 500 climbed 1.3%, led by energy producers and other companies whose profits would benefit greatly from a strengthening economy. It was a sharp turnaround from the morning, when the index was down 0.9%, and from Monday’s last-hour slide after California shut bars and reinstated other restrictions amid a jump in coronavirus counts.

Equities Staff | |

Alphabet's Google subsidiary has offered to the European Commission that it won't use health data from Fitbit's fitness tracker in order to target ads. The company is responding to the EC's antitrust issues surrounding its proposed $2.1 billion acquisition.

Announced in November 2019, the bid aimed to boost Google’s presence in the fitness-tracing and smart-watch sectors to compete with market leaders, Apple (), Samsung (), Huawei (HWTL.UL) and Xiami ().

As of Q1, Fitbit had on...

Reuters | |

U.S. industrial conglomerate 3M Co has partnered with the Massachusetts Institute of Technology to develop a rapid antigen test for COVID-19, the company said on Tuesday.

The test would produce results within minutes and could be administered on a low-cost, paper-based device, similar to a home pregnancy test, that could be delivered at the point of care.

“We are seeking to improve the speed, accessibility and affordability of testing for the virus, a major step in helping to prevent its spread,” said John Banovetz, the chief technology officer at 3M.