News

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

Read More

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%

Read More

Tech stocks lift Wall Street to new highs after Fed’s stimulus comments | US economy

Technology stocks have lifted Wall Street to record highs after the US Federal Reserve’s dovish comments eased fears of a sudden tapering in monetary stimulus and boosted optimism around an economic recovery.

Apple jumped 2.3% to an all-time high, while Microsoft, Amazon and the Google owner Alphabet, rose between 0.9% and 1.3%, helping the tech-heavy Nasdaq outperform the S&P 500 and the Dow Jones.

High-growth tech stocks tend to benefit from expectations of lower rates because their value rests heavily on future earnings.

The benchmark index is tracking its longest monthly winning streak since 2018 on the promise of cheap

Read More

Last U.S. Troops Leave Afghanistan After Nearly 20 Years

WASHINGTON—A U.S. military C-17 carried the last American troops out of Afghanistan on Monday, marking the formal end of the longest war in U.S. history but leaving between 100 and 200 Americans and tens of thousands of America’s Afghan allies to face a future of uncertainty and danger.

The final U.S. withdrawal came one minute before the Aug. 31 deadline set by President Biden, an exit under the persistent threat of terrorist attacks that already had claimed the lives of 13 American service members and more than 200 Afghans, who were killed in a suspected Islamic State suicide bombing at

Read More

Google, Apple Hit by First Law Threatening Dominance Over App-Store Payments

SEOUL—Google and Apple Inc. will have to open their app stores to alternative payment systems in South Korea, threatening their lucrative commissions on digital sales.

A bill passed Tuesday by South Korea’s National Assembly is the first in the world to dent the tech giants’ dominance over how apps on their platforms sell their digital goods. It will become law once signed by President Moon Jae-in, whose party strongly endorsed the legislation.

The law amends South Korea’s Telecommunications Business Act to prevent large app-market operators from requiring the use of their in-app purchasing systems. It also bans operators from unreasonably

Read More

Biden Administration Likely to Approve Covid-19 Boosters at Six Months

Federal regulators are likely to approve a Covid-19 booster shot for vaccinated adults starting at least six months after the previous dose rather than the eight-month gap they previously announced, a person familiar with the plans said, as the Biden administration steps up preparations for delivering boosters to the public.

Data from vaccine manufacturers and other countries under review by the Food and Drug Administration is based on boosters being given at six months, the person said. The person said approval for boosters for all three Covid-19 shots being administered in the U.S.—those manufactured by Pfizer Inc. and partner BioNTech

Read More

Western Digital in Advanced Talks to Merge With Kioxia in $20 Billion-Plus Deal

Western Digital Corp. is in advanced talks to merge with Japan’s Kioxia Holdings Corp., according to people familiar with the matter, in a deal that could be valued at more than $20 billion and further reorder the global chip industry.

Long-running discussions between the companies have heated up in the past few weeks and they could reach agreement on a deal as early as mid-September, the people said. Western Digital would pay for the deal with stock and the combined company would likely be run by its Chief Executive, David Goeckeler, the people said.

There’s no guarantee Western Digital, which

Read More

This Illinois County Is Losing People Faster Than Anywhere in the U.S.

CAIRO, Ill.—In a nation where more than half of all counties saw population declines during the past decade, nowhere fared worse than Alexander County in far southern Illinois.

Located at the confluence of the Ohio and Mississippi rivers, the county lost 36.4% of its residents between 2010 and 2020, Census Bureau data released this month shows. No other county lost more than 30%.

The exodus amounted to roughly 3,000 people and lowered the county’s population to 5,240. The declining numbers are putting added pressure on already stressed local government finances and leaving the remaining residents questioning whether there’s any future

Read More

Wall Street Is the Most Bullish on Stocks in Almost Two Decades

(Bloomberg) — It’s been two decades since Wall Street analysts were this upbeat.

About 56% of all recommendations on S&P 500 firms are listed as buys, the most since 2002. It’s one more data point that shows the extent of the euphoria sweeping markets after a blockbuster earnings season.

While analysts are historically a bullish bunch, they’re turning even more optimistic in the face of relentless stock-market gains and corporate earnings that topped even the highest expectations. For all the concerns about the delta variant, China’s regulatory crackdown or waning Federal Reserve stimulus, it hasn’t made much of a dent

Read More

Wall Street Is Boosting Pay To Junior Bankers. It’s Still Not Enough : NPR

Tashrima Hossain, who used to work on Wall Street, but quit to join Facebook, is part of a growing number of young people who are no longer attracted to investment banking despite surging salaries. She posed for a portrait at Alamo Square in San Francisco on Aug. 11.

Preston Gannaway for NPR


hide caption

toggle caption

Preston Gannaway for NPR


Tashrima Hossain, who used to work on Wall Street, but quit to join Facebook, is part of a growing number of young people who are no longer attracted to investment banking despite surging salaries. She posed for a portrait at

Read More