Oil prices steadied on Monday after strong gains last week, as tough coronavirus lockdowns around the world renewed concerns about global fuel demand, while a stronger U.S. dollar also weighed on prices.
Stocks came off record highs on Monday partly on caution over rising coronavirus cases globally while elevated Treasury yields continued to support the dollar, which touched its highest since December against a basket of peers.
Ford Motor Co said on Monday it will close its three plants in Brazil this year and take pretax charges of about $4.1 billion as the COVID-19 pandemic amplified the company's under use of its manufacturing capacity.
Twitter Inc's stock tumbled over 6% on Monday after its move to permanently suspend U.S. President Donald Trump's widely-followed account spurred concern among investors over the future regulation of social networks.
At least eight businesses are set to price initial public offerings (IPOs) in New York in the next three days, seeking to raise a total of nearly $5 billion in what could be the biggest week for new listings in more than five years.
Wall Street's main indexes slipped from record levels on Monday as investors took some profits as they waited for earnings season to begin and eyed events in Washington with caution.
When the biggest U.S. banks begin reporting fourth-quarter results on Friday some of the headlines could show profits plunged by as much as 40% from a year earlier, before the pandemic struck.
Top executives at U.S. pharmaceutical company Novavax Inc aren't waiting to see how well their COVID-19 vaccine works before they reap the financial rewards.
U.S. branded coffee shops will only return to pre-pandemic sales levels next year after the COVID-19 pandemic wiped out nearly a quarter of their turnover last year, according to Allegra World Coffee Portal, a research and consultancy firm.
Investors will be anxious to see whether upcoming quarterly reports and outlooks from U.S. companies validate expectations for a strong 2021 rebound in earnings and the economy, which were ravaged by the coronavirus pandemic last year.
