Meat supplier JBS halts production after suspected Russian cyberattack
Fox News’ Griff Jenkins reports on meat supplier JBS shuttering US-based beef plants while responding to a cyberattack, likely from Russia.
U.S. equity markets were little changed Wednesday morning as the major averages hovered just below all-time highs.
|I:DJI||DOW JONES AVERAGES||34633.97||+58.66||+0.17%|
|I:COMP||NASDAQ COMPOSITE INDEX||13754.570704||+18.09||+0.13%|
The Dow Jones Industrial Average was higher by 55 points, or 0.16%, while the S&P 500 and the Nasdaq Composite ticked up 0.14% and 0.08%, respectively. All three major averages were within striking distance of all-time highs.
The choppy trade comes ahead of the Federal Reserve’s 2 p.m. ET release of its latest Beige Book, which will give anecdotal information on current economic conditions across the country.
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In stocks, JBS SA says the "vast majority" of its nine U.S. plants will be up and running on Wednesday after the meat producer took them offline following a cybersecurity attack. The company produces about 25% of U.S. beef supplies.
AMC Entertainment shares remain in focus following news that hedge fund Mudrick Capital on Tuesday flipped the 8.5 million shares it had acquired earlier in the day for a profit. AMC’s stock has soared 165% since the beginning of last week. The company also announced new perks for retail investors including a communication portal and free popcorn and screenings. Another so-called meme stock, BlackBerry, also saw gains.
AMC THROWS RETAIL INVESTORS A BONE
|AMC||AMC ENTERTAINMENT HOLDINGS INC||40.63||+8.73||+27.38%|
In earnings, Zoom Video Communications Inc. reported earnings and revenue that blew past Wall Street estimates but warned the strong growth experienced during the pandemic was set to slow.
|ZM||ZOOM VIDEO COMMUNICATIONS, INC.||325.40||-2.31||-0.71%|
Advance Auto Parts Inc said quarterly profit nearly tripled versus a year ago as sales grew by a record 23.4%. The company raised both its full-year sales and full-year same-store sales outlook.
|AAP||ADVANCE AUTO PARTS||192.24||-2.56||-1.32%|
In deals, Etsy Inc. agreed to acquire privately-owned fashion marketplace Depop for $1.63 billion.
In commodities, West Texas Intermediate crude oil jumped 65 cents to $68.37 per barrel, and was holding near its highest level in two and a half years. Gold, meanwhile, edged up $2.60 to $1,907.60 an ounce.
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Overseas bourses were mixed.
European markets rallied across the board with Germany’s DAX 30 rising 0.15%, Britain’s FTSE 100 advancing 0.12% and France’s CAC 30 climbing 0.31%.
In Asia, Japan’s Nikkei 225 jumped 0.46% while Hong Kong’s Hang Seng index and China’s Shanghai Composite fell 0.58% and 0.76%, respectively.
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