Stock futures flat in overnight trading as Wall Street looks to wrap up a record-setting week


Brendan McDermid | Reuters

Futures tied to major U.S. equity benchmarks were flat in overnight trading on Thursday as Wall Street attempts to build on its record-breaking rally.

The Dow Jones Industrial Average futures gained just 30 points. The S&P 500 futures and the Nasdaq 100 futures were both little changed.

The S&P 500 reached a new all-time high for a fifth day in a row on Thursday, and briefly topped 3,500 for the first time ever. The Dow gained 160 points for its fifth positive day in six. The Nasdaq underperformed with a 0.3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} loss, led by declines in

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Gap’s pivot to face masks put $130 million in its registers


Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020.

Jason Lee | Reuters

The apparel maker Gap Inc. pivoted its supply chain early on in the coronavirus pandemic to make face masks. And it is, quite literally, paying off. 

The company said Thursday when it reported quarterly earnings that it brought in $130 million in sales during the period for its face masks. That includes sales to individuals and in bulk to businesses. The city of New York,

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With bid for TikTok, Walmart looks to turn a political turf war to its own advantage


For Walmart, a political tug-of-war over TikTok has become an opportunity to nab an app with a huge fan following.

The company confirmed Thursday that it’s teaming up with Microsoft to buy the tech platform, which is owned by Beijing-based ByteDance.

TikTok’s parent company is looking for a buyer after the U.S. government pushed for a ban of the app and alleged the Chinese government could access user data. TikTok has denied those allegations and is challenging the U.S. government in a lawsuit. ByteDance is weighing other offers, including one from Oracle, but could pick the buyer in coming days,

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Ford and remain under federal investigation regarding union corruption


The Henry Ford II World Center, headquarters of the Ford Motor Company in Dearborn, Michigan.

James Leynse | Corbis | Getty Images

DETROIT — Ford Motor remains under federal investigation as part of a multi-year corruption probe into the United Auto Workers union, according to the lead prosecutor on the investigation.

U.S. Attorney Matthew Schneider told CNBC that the automaker and the UAW’s Ford unit remain targets in the probe, which initially started with Fiat Chrysler and its union counterpart.

“Ford and Fiat Chrysler, those investigations are still continuing,” he said Thursday during a phone interview. “You have to look

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