Dow Jones hits an all-time high as investors cheer progress on inflation
The markets have been on a celebratory tear in recent weeks, as signs pile up that the Federal Reserve may be done raising interest rates.
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Indiana-based banks see stock-price rebound on horizon
Most of Indiana’s 14 publicly traded banks have seen a significant drop in stock prices at some point this year, in some cases falling more than 50% from their Jan. 3 prices, the first trading day of the year.
Syra Health rings Nasdaq opening bell; shares slide to new low
The company was formed only three years ago and went public on Sept. 29 in an initial public offering that raised $5.3 million after expenses.
Charles Schwab plans job cuts, office downsizing amid effort to cut costs
The financial services powerhouse, which has major operations in Indianapolis, did not specify how many positions would be eliminated—but suggested that the layoffs will take place in the coming months.
S&P decision to ax ESG scores from bond ratings splits market
S&P recently updated its approach to incorporating environmental, social and governance considerations into credit ratings, ditching an alphanumerical scale it introduced in 2021 and instead going back to relying only on text descriptions.
After raising prices sharply, corporate profits get squeezed as inflation eases
Many analysts believe margins hit bottom in the second quarter, and they’re forecasting a recovery in the second half. Others are less optimistic.
Stock market gains help pave way for IPO resurgence
The rebound in IPOs is being fueled by a stock market rally that has the S&P 500 up about 19% so far this year, a sharp reversal from last year’s 19.4% loss.
S&P 500 is in bull market. Here’s what that means.
The S&P 500 is now in what Wall Street refers to as a bull market, meaning the index has risen 20% or more from its most recent low. Here are some answers to questions about bull and bear markets.
Carmel startup Syra Health files to go public
Officials of the two-year-old firm that provides professional services in the health care and life science industries expect the offering to raise up to $8 million.
Ex-U.S. Rep. Buyer of Indiana goes on trial over stock buys
The former representative for Indiana’s 4th Congressional District is accused of illegally garnering stock windfalls by exploiting his consulting clients’ corporate secrets years after he left Congress.
S&P 500 closes out dismal year with worst loss since 2008
The benchmark index fell 0.3% Friday, the last trading day of the year, leaving it down 19.4% for the year.
2022 Year in Review: A year of ups, downs and uncertainty
The stock market dropped in 2022. So did the unemployment rate. Except in Indiana, where in both cases, the numbers crept up.
Point Biopharma shares sink after pricing new stock offering at discount
Indianapolis-based biotech firm Point Biopharma Global Inc. hopes to raise about $125 million in the offering, before underwriting expenses and deductions.
Wall Street has worst day in more than 2 years on inflation data
The hotter-than-expected inflation reading has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected to combat inflation, with all the risks for the economy that entails.
Stocks see biggest drop in 2 months as Fed dashes hopes for easing rates
The losses came after Chair Jerome Powell said the Federal Reserve will likely need to keep interest rates high enough to slow the economy for some time in order to beat back the high inflation sweeping the country.
Student, 20, makes $110M trading meme stock Bed Bath & Beyond
Jake Freeman, a math major, bought 4.96 million shares at $5.50 each in July through a Wyoming-based holding company he set up. On Tuesday—a day when the stock spiked above $27 a share—he sold everything.
Companies facing first tax on stock buybacks in Biden bill
Under the bill, companies will face a new 1% excise tax on purchases of their own shares, effectively paying a penalty for a maneuver that they have long used to return cash to investors and bolster their stock price.
Lilly Endowment sells more than $500 million in Eli Lilly stock
The stock sale is a primary way for the endowment, one of the largest private philanthropic foundations in the United States, to raise cash to make grants to arts, education, religious and community development organizations.
Wall Street expects inflation squeeze on 2Q earnings
Inflation tightened its grip on businesses and consumers during the second quarter and investors expect to see a dent in the latest round of corporate earnings.
Indiana stocks fare better than most this year
At the close of trading June 24, Bloomberg’s Indiana Index was trading at $375.30, up 0.55% from the beginning of the year. The S&P 500 was down 18.45% and the tech-heavy Nasdaq was down 26.59%.