Tech lifts Nasdaq to record close but Wall Street mixed on jobs report

A person waits on the Wall Street subway platform in the Financial District of Manhattan, New York City, U.S., August 20, 2021. REUTERS/Andrew Kelly

  • Dismal August jobs report calms taper fears
  • Leisure, retail employment disappoint; cruise liners slump
  • Banking stocks slide, shrug off jump in bond yields

Sept 3 (Reuters) – The Nasdaq closed Friday at a fresh record but Wall Street’s main indexes headed into the Labor Day weekend in mixed fashion, reacting to a disappointing U.S. jobs report which raised fears about the pace of economic recovery but weakened the argument for near-term tapering.

A majority of the

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Stocks Shake Off Bad News to Rally for Seventh Straight Month

Bad news doesn’t seem to bother Wall Street these days.

Deaths and hospitalizations related to the coronavirus are soaring, and many businesses have shelved plans to return to the office. Staffing shortages and supply-chain bottlenecks linger, while consumer confidence has fallen.

And yet, the stock market continued its quietly remarkable year in August, posting its seventh straight monthly rise. The S&P 500 index is up over 20 percent for 2021 and has more than doubled in value since it hit bottom in March 2020. The market has closed at a record high 53 times — the most by this

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Asian stocks mixed after Wall Street hits new high

BEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street hit a new high as investors looked ahead to a Federal Reserve gathering for an update on U.S. stimulus.

Shanghai advanced while Hong Kong declined. Tokyo was unchanged.

Wall Street’s benchmark S&P 500 index rose 0.2% after a quiet day in the market.

Investors are betting on an “absence of aggressive taper signals” when Fed officials speak Friday at their annual Jackson Hole meeting, said Mizuho Bank’s Venkateswaran Lavanya in a report.

Some Fed officials say the U.S. central bank needs to start winding down bond purchases and

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Wall Street Is Looking to Reddit for Investment Advice

Wall Street professionals tell everyday investors what stocks to buy. But now they have to follow some of these amateurs for signs of where the market is headed next.

Venerable institutions Goldman Sachs Group Inc. and Morgan Stanley are tracking the retail trading frenzy, and hedge funds in New York and London have employees combing through the internet forum of Reddit, Twitter or chat startup Discord in search of trading opportunities. They turned to these sources following a period of market mayhem dominated by amateurs on Reddit’s WallStreetBets and the Robinhood Markets Inc. trading app who collectively boosted the shares

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Wall Street usually shrugs off jobs report

By Stephen Culp 

  NEW YORK (Reuters) – Markets always look to the Labor Department’s monthly employment report with great anticipation. But whether the data disappoints or surprises to the upside often has only a modest effect on overall stock index moves. 

  Friday’s report missed consensus by a mile, for example, showing the economy added a paltry 235,000 jobs instead of the 728,000 expected by economists. 

  But Wall Street seemed to largely shrug off the disappointment. The S&P 500 was essentially flat. 

  “Today it’s as simple as ‘bad news is good news’ because the weak number gives the Fed cover to

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5 Reasons Moderna May Prove Wall Street Wrong

Most Wall Street analysts recommend buying or holding Moderna (NASDAQ:MRNA) shares. But they don’t necessarily expect big gains in the coming 12 months. The average analyst estimate for that period is about $130 lower than Moderna’s share price today.

It’s true that Moderna’s shares have climbed at the speed of light. The stock has increased nearly 300% so far this year. And that’s on top of last year’s 434% gain. It’s logical to believe there may be a pullback from time to time or a slowdown in the pace of gains. But I’m not expecting a huge decline in this

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Main Street Pensions Take Wall Street Gamble by Investing Borrowed Money

Many U.S. towns and cities are years behind on their pension obligations. Now some are effectively planning to borrow money and put it into stocks and other investments in a bid to catch up.

State and local governments have borrowed about $10 billion for pension funding this year through the end of August, more than in any of the previous 15 full calendar years, according to an analysis of Bloomberg data by Municipal Market Analytics. The number of individual municipalities borrowing for pensions soared to 72 from a 15-year average of 25.

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S&P 500, Nasdaq close at record highs as Wall Street looks for strong finish to August

The S&P 500 set another record high on Monday as the stock market continued to rise in the final days of August.

The broad market index gained 0.43% to set a new record high 4,528.79, while the Nasdaq Composite traded up 0.90% for its own all-time high 15,265.89. The Dow Jones Industrial Average underperformed, losing 55.96 points or 0.16% to close at 35,399.84.

Key technology stocks led the way on Monday. Microsoft and Netflix each rose about 1.3%, and Apple jumped 3%.

Shares of Affirm Holdings surged more than 46% after the buy now, pay later company announced a partnership

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Wall Street gains as dovish Fed eases taper fears

The floor of the the New York Stock Exchange (NYSE) is seen after the close of trading in New York, U.S., March 18, 2020. REUTERS/Lucas Jackson/File Photo

  • S&P 500 tracks longest monthly winning streak since 2018
  • Indexes up: S&P 0.55%, Nasdaq 0.97%, Dow 0.03%
  • PayPal gains on report planning stock-trading platform

Aug 30 (Reuters) – The S&P 500 and Nasdaq moved to fresh record highs on Monday, led by technology stocks, as investors responded positively to the Federal Reserve’s dovish comments on tapering in monetary stimulus and what that might mean for the economic recovery.

Apple Inc (AAPL.O) jumped 3.1%

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