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![Here are Friday’s worst stocks as trade conflict rattles investors]()
Here are Friday’s worst stocks as trade conflict rattles investors
- Stock guru who called S&P 500 gains sees no new market high before October
- Stock market ends sharply lower on renewed trade war fears
- The stock market is in its 3rd-longest stretch without a new high since 2013
- Why stocks could fall nearly 40% over the coming 18 months
- Bogle on stock turbulence: ‘never seen a market this volatile to this extent in my career’
- Stop saying the Dow is moving in and out of correction! That is not how stock-market moves work
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Need to Know
Rep. Farenthold resigns amid sexual harassment backlash
U.S. Rep. Blake Farenthold, a Republican of Texas, has resigned, effective Friday. Farenthold had been under scrutiny over allegations of sexual harassment and reports that he used $84,000 in taxpayer money to settle a sexual harassment claim by a former communications director filed in 2014. He had declared last year he would not seek reelection this year.
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Personal finance
![5 things to do right now instead of panicking about stock market volatility]()
5 things to do right now instead of panicking about stock market volatility
Many consumers could benefit from some simple changes in their behavior and finances.
![Buying diamonds? Avoid this $9 million mistake that Drew Brees made]()
Buying diamonds? Avoid this $9 million mistake that Drew Brees made
NFL quarterback Brees and his wife are suing a jeweler after their investment went south.
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Inside MarketWatch
Nine West Holdings to sell namesake and Bandolino brands as part of chapter 11 reorganization
Nine West Holdings Inc. said Friday that it has filed for chapter 11 bankruptcy protection, and will sell the namesake Nine West and Bandolino footwear and handbag businesses as part of the reorganization to Authentic Brands Group. The company also plans to revamp the capital structure of its other businesses including Anne Klein, Kasper Group and One Jeanswear Group. Nine West has received $300 million in debtor-in-possession financing and has entered into a restructuring agreement with the parties that hold more than 78% of its secured-term debt and more than 89% of its unsecured term debt, which the company said will provide it with the liquidity needed over the course of its case. The SPDR S&P Retail ETF is down 1.8% for the year to date, but up 6.5% for the past 12 months. The S&P 500 index is up 10.2% for the last year, and the Dow Jones Industrial Average is up 18.6% for the period.
Albertsons withdraws IPO plan because of Rite Aid merger deal
Albertsons Companies Inc. filed Friday to withdraw its plan for an initial public offering, because of its deal to merge with Rite Aid Corp. , which was announced in February. The food and drug retailer said the registration statement for the IPO, which was last amended in November, had not yet been declared effective by the Securities and Exchange Commission. In November, the company had not yet set terms of the IPO. The withdrawal comes at a time that the Renaissance IPO ETF has lost 0.3% over the past three months while the S&P 500 has shed 3.5%.
BreakingOil futures end 2.3% lower amid trade worries, rising rig count
Oil futures ended sharply lower Friday, weighed down by rising trade tensions between the U.S. and China and data that showed an increase in the number of U.S. rigs drilling for crude. West Texas Intermediate oil for May delivery on the New York Mercantile Exchange dropped $1.48, or 2.3%, to settle at $62.06 a barrel. For the week, the U.S. benchmark declined around 4.6%. Oil prices were under pressure after U.S. President Donald Trump threatened to expand planned tariffs on Chinese imports, prompting Beijing to warn of further retaliation. Meanwhile, oilfield services firm Baker Hughes said the number of U.S oil rigs rose by 11 to 808 this week.
