uBanker

News Spruce Biosciences Rallies on Oppenheimer Outperform Rating

Oppenheimer Holdings is an American multinational independent investment bank and financial services company offering investment banking, financial advisory services, capital markets services, asset management, wealth management, and related products and services worldwide. The company, which once occupied the One World Financial Center building in Manhattan, now bases its operations at 85 Broad Street in New York City. Spruce Biosciences Inc (NASDAQ:SPRB) shares rose 21% Friday after bullish commentary from Oppenheimer. as a rating given by some analysts that publicly research and recommend securities of it will produce higher returns, for the foreseeable future, than the major market indexes. The analyst Hartaj Singh initiated coverage of Spruce with an outperform rating and $15 price target, saying the company is a quality biotech name. 

News Oil Up Over Surging U.S. Consumer Petroleum Demand, but Omicron Risks Remain

Oil prices rose on Thursday as U.S. implied consumer petroleum demand surged to a record high in the world's top oil consumer despite the threat posed by the omicron COVID-19 for fuel demand. The U.S. Federal Reserve is also acting to tackle inflation before it impacts the economic recovery, which also gave the black liquid a boost.

News Dollar Down, Investors Continue to Digest Fed’s Policy Decision

The dollar remained under pressure on Friday, a day after the Bank of England and European Central Bank adopted more hawkish stances than markets had expected, giving a boost to sterling and the euro. The dollar was also down in Asia, with the U.S. Federal Reserve tightening its monetary policy in a hawkish pivot.

News Darden Falls as CEO to Retire, Wages to Go Up

Darden Restaurants on Friday reported quarterly earnings and revenue that topped analysts’ expectations, leading the company to raise its sales and earnings forecast for the rest of fiscal 2022.

News Gold Up in Response to Hawkish Fed Pivot

Gold was up on Thursday morning in Asia, with the dollar weakening after the announced that it would quicken its asset tapering and hike interest rates in its latest policy decision.

News European Stock Futures Edge Lower; Nestle Reduces Stake in L'Oreal

European stock markets are expected to open marginally lower Wednesday, taking a breather after a sharp rally driven by hopes that the Omicron Covid-19 variant is a dud.