Shares of real estate investment trusts rallied again Friday, as another drop in Treasury yields helped spark a broad rally in the high-yielding sector. The SPDR Real Estate Select Sector ETF rose 0.8%, with 25 of 31 equity components gaining ground. The ETF (XLRE) was on track for a 7th-straight gain, and 5th-straight record close.

Gold futures climbed on Friday to tally a gain of roughly 0.8% for the week. Concerns surrounding COVID-19 and its impact on the global economy continued to feed haven demand for the precious metal. “Should the outbreak take a dramatic turn for the worse, perhaps by way of confirmation in the economic data, $1600 remains

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by two to 678 this week. The total active U.S. rig count, meanwhile, was unchanged at 790, according to Baker Hughes. Oil prices continued to gain, with March West Texas Intermediate crude up 39 cents, or 0.8%, at $51.81

Shares of American Axle & Manufacturing Holdings Inc. tumbled 10.0% in midday trading Friday, after the auto parts supplier reported a fourth-quarter sales that missed expectations, as results were hurt by a work stoppage at General Motors Corp. , and provided a downbeat outlook. The net loss widened to $454.4 million, or $4.04 a share,

Shoes and accessories maker Cole Haan filed for an initial public offering on Friday, with plans to list on Nasdaq. The company said it plans to raise up to $100 million, likely a placeholder sum as it works to determine terms. Nine banks are underwriting the deal, led by BofA Securities, Morgan Stanley, JPMorgan and

There are more than 63,000 cases of COVID-19, the novel coronavirus that was first identified in December in Wuhan, China, and 1,383 deaths, according to the World Health Organization (WHO). The case count includes those people in China’s Hubei Province who have been diagnosed by laboratory tests and by computed tomography (CT) scans, a new

Shares of drug wholesalers, who have held talks to settle opioid litigation, sank in morning trading Friday, after The Wall Street Journal reported that 21 states had rejected an $18 billion settlement offer. Shares of AmerisourceBergen Corp. dropped 2.4%, Cardinal Health Inc. shed 2.5%, McKesson Corp. lost 1.4% and Johnson & Johnson fell 0.4%. In

Business inventories in the U.S. rose a slight 0.1% in December after a 0.2% decline in the prior month, the Commerce Department said Friday. The gain was in line with Wall Street expectations. Sales slumped 0.1% in the month. Retailer sales were flat. The ratio of inventories to sales, meanwhile, inched up to 1.40 in

Fitch Ratings Inc. cut the credit rating of Kraft Heinz Co. to below investment grade on Friday. Only one more rating agency needs to downgrade its bonds into junk before Kraft’s bonds qualify as a “fallen angel,” when an issuer loses its investment-grade credit rating. The worry among investors is that insurers, pension funds and

Shares of Pinterest Inc. slipped 0.8% in morning trading, paring overnight losses of as much as 5.4%, after Wedbush analyst Ygal Arounian tried to assuage investors fears by saying Facebook Inc.’s upcoming “copycat” app was “not quite that, and not a major concern.” The social media company’s stock sold off in after-hours trading Thursday, amid