Wall Street

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Tech Companies Lift S&P in Stocks' Best Week of 2024

Broadcom, Microsoft help recover last week's losses

(Newser) - US stocks closed out their best week of the year with more gains on Friday and climbed to the cusp of their records.
  • The Dow rose 297.01 points, or 0.7%, to 41,393.78.
  • The S&P 500 rose 30.26 points, or 0.5%, to 5,626.
...

Major Banks Try to Ease Junior Bankers' Exhaustion

JPMorgan, Bank of America take steps to prevent overwork amid criticism

(Newser) - Two leading investment banks are taking steps to prevent junior bankers from working more than 100 hours a week following complaints of overwork. JPMorgan is instituting an 80-hour weekly cap for junior bankers in a first-of-its-kind move for the bank, while Bank of America, which already flags work beyond a...

Indexes Plunge After Jobs Report
Indexes Plunge
After Jobs Report
markets
Sep 6, 2024 3:35 PM CDT

Indexes Plunge After Jobs Report

Tech stocks pull down Nasdaq composite

(Newser) - Another rout hit Wall Street on Friday, with formerly high-flying technology stocks again taking the brunt, after a highly anticipated update on the US job market came in weak enough to add to worries about the economy.
  • The Dow fell 410.34 points, or 1%, to 40,345.41.
  • The
...

Stocks Close Out Another Month of Gains
Stocks Close Out
Another Month of Gains
markets
Aug 30, 2024 3:50 PM CDT

Stocks Close Out Another Month of Gains

New reports on inflation, consumer spending, and income encourage traders

(Newser) - Stocks on Wall Street finished broadly higher Friday as the market closed out its fourth straight winning month with solid gains.
  • The Dow rose 228.03 points, or 0.6%, to close at 41,563.08 and set its fourth all-time high this week.
  • The S&P 500 rose 56.
...

Tech Declines Counter Other Sectors' Gains
Tech Declines Counter
Other Sectors' Gains
markets
Aug 29, 2024 3:50 PM CDT

Tech Declines Counter Other Sectors' Gains

Nvidia pulls market down, slipping 6.4%

(Newser) - A late-afternoon slide by some Big Tech companies cut into Wall Street's gains Thursday, leading to a mixed finish for US stock indexes.
  • The Dow rose 243.63 points, or 0.6%, to 41,335.05.
  • The S&P 500 fell 0.22 points, or less than 0.1%,
...

Wall Street Rallies After Powell's Interest Rate Remarks

Stocks approach their records in widespread increases

(Newser) - US stocks rallied close to their records Friday after the head of the Federal Reserve finally said out loud what Wall Street has been expecting for a while: Cuts to interest rates are coming soon to help the economy.
  • The S&P 500 rose 63.97 points, or 1.1%,
...

Wall Street Takes a Breather, Awaits Powell's Words

All the major indexes fell ahead of speech by the Fed chair on Friday

(Newser) - Stocks slipped on Thursday as Wall Street counts down to its main event for the week—a speech by Federal Reserve Chair Jerome Powell coming on Friday.
  • The S&P 500 fell 50 points, or 0.8%, to 5,570.
  • The Dow fell 177 points, or 0.4%, to 40,
...

Wall Street Ends Week About Where It Started
Wall Street Ends Week
About Where It Started
markets
Aug 9, 2024 3:55 PM CDT

Wall Street Ends Week About Where It Started

Company reports help erase losses

(Newser) - After a manic week that began with Japanese stocks falling to their worst loss since 1987's Black Monday, only for US stocks to soar later to their best day since 2022, slight gains on Friday carried Wall Street almost exactly back to where it began the week.
  • The Dow
...

Broad Rally Spreads the Wealth
Broad Rally Spreads the Wealth
markets
Jul 26, 2024 3:35 PM CDT

Broad Rally Spreads the Wealth

Stocks left out of earlier climbs participated in this one

(Newser) - A widespread rally swept Wall Street on Friday, lifting far-reaching corners, to close a tumultuous week in which stocks that had been left behind for much of this year's record-setting run wrested the spotlight back from the market's biggest stars. The rally was helped by encouraging reports on...

It's Another Big Finish for the Dow
It's a Record Close for the Dow
MARKETS
Jul 15, 2024 3:23 PM CDT

It's a Record Close for the Dow

It rose 210 points to 40,211

(Newser) - US stocks ticked to the edge of records as Wall Street's momentum keeps pushing it upward. The S&P 500 climbed 0.3% Monday but finished just shy of its all-time high set last week, reports the AP . The Dow rose 0.5% to its own record, rising 210...

Inspiration for Gordon Gekko Dies
Inspiration for
Gordon Gekko Dies
OBITUARY
May 20, 2024 1:22 PM CDT

Inspiration for Gordon Gekko Dies

Rogue trader Ivan Boesky was 87

(Newser) - Financier Ivan Boesky, who died Monday, was at the center of an insider-trading scandal in the 1980s but he may be best remembered for the movie character he partly inspired: Gordon Gekko, the villain in Wall Street . "Greed is all right, by the way," Boesky said in a...

Wall Street Bonuses Took a Bit of a Hit in 2023

The average payout fell 2%, to $176,500

(Newser) - Profits on Wall Street last year climbed 1.8%—but bonuses didn't quite align. Instead, the latter "dipped slightly" from the previous year, per a statement from New York State Comptroller Thomas DiNapoli, who says bonuses fell 2% in 2023, from an average of $180,000 the previous...

Tech Weakness Helps Cool Wall Street's Run
Tech Weakness Helps
Cool Wall Street's Run
markets
Mar 8, 2024 3:45 PM CST

Tech Weakness Helps Cool Wall Street's Run

S&P 500 eases off record high set Thursday

(Newser) - Wall Street pulled back from its record Friday after a shaky day of trading, putting at least a temporary halt to its huge rally since Halloween.
  • The S&P 500 fell 33.67 points to 5,123.69. That was down 0.7% from its all-time high set Thursday and
...

Wall Street Bonuses Take a 26% Plunge

Decline cuts into New York tax revenue

(Newser) - With inflation rising last year and recession worries mounting, Wall Street firms saw profits slipping. One result was the pool for employee bonuses drying up after the good financial times early in the pandemic, the Guardian reports. The kitty fell 26% last year, putting the average bonus at $176,700....

Banks Bounce Back, Sparking Another Rally for Stocks

Investors welcome reassurances from Yellen

(Newser) - Stocks rallied Tuesday, led by the banks most beaten down by the industry's crisis, and some of Wall Street's fear washed out on hopes the federal government will offer more help if needed. The S&P 500 posted its first back-to-back gain since Silicon Valley Bank's quicksilver...

Wall Street Is Having a Rough Day
It's Been a Brutal
Morning on Wall Street
MARKETS
May 5, 2022 11:00 AM CDT

It's Been a Brutal Morning on Wall Street

Dow falls more than 1K, and tech stocks are cratering a day after Fed move

(Newser) - Stocks are slumping in a big way on Wall Street, erasing a rally from a day earlier as markets assess the looming fallout from the Federal Reserve's stepped-up fight against inflation. Around noon, the Dow had fallen more than 1,100 points, or 3.2%, and the S&P...

Dreading an Internship? Would Being Paid $16K a Month Help?

Finance companies are paying big bucks amid a 'particularly tough recruitment year'

(Newser) - College students continue to vie for coveted Wall Street internships over the summer, and for good reason: Unlike internships in many other industries, they come with a fat paycheck. Fast Company cites a recent Glassdoor ranking of the top-paying US internships, a list in which finance companies "performed extremely...

Wall Street's Bull Gets a New Showdown

Organizers say Harambe display is about wealth inequality

(Newser) - Wall Street's iconic Charging Bull statue is currently facing off with a gorilla. Not just any gorilla, but Harambe: A 7-foot-statue of the Cincinnati Zoo gorilla who was fatally shot as he carried around a 3-year-old boy who'd gotten into his enclosure in 2016 was, on Monday, installed...

COVID-19 Vaccine Boosters Worth Billions for Drugmakers

Drugstore chains could reap huge profits, too

(Newser) - Billions more in profits are at stake for some vaccine makers as the U.S. moves toward dispensing COVID-19 booster shots to shore up Americans' protection against the virus. How much the manufacturers stand to gain depends on how big the rollout proves to be. US health officials late on...

Morgan Stanley to Bar the Unvaccinated

Only fully vaccinated people will be allowed inside New York offices starting July 12

(Newser) - Investment bank Morgan Stanley plans to lift mask and physical distancing requirements in its offices next month, but only after banning unvaccinated workers, clients, and visitors. The company told its workforce on Tuesday that employees and clients who are not fully vaccinated against COVID-19 will be unable to return to...

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