Wall Street stocks end volatile week at record high

Equities updates

US stocks ended Friday at a new high, reversing steep losses at the start of the week, as fears about the Delta variant of coronavirus were soothed by strong corporate earnings and continued central bank support for financial markets.

The S&P 500 climbed 1 per cent, lifting the index’s weekly gain to 2 per cent and its advance for the year above 17 per cent. The technology-focused Nasdaq Composite rose just over 1 per cent, giving the index its strongest weekly advance since

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Wall Street eyes COVID-19 Delta variant as return to office looms

As the Dow Jones Industrial Average posted its worst day since October of last year over pandemic fears, FOX Business has learned that top executives at the Big Banks are closely monitoring the spread of the coronavirus Delta variant and how it may impact plans to re-open offices particularly in large urban areas such as New York City. 

People at banks such as JPMorgan, Morgan Stanley and Goldman Sachs say that so far they’ve made no changes

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Wall Street rallies to record-breaking end of turbulent week

NEW YORK (AP) — Stocks rallied to records on Wall Street Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time, as the market continued to roar back from its short-lived swoon at the start of the week.

The S&P 500 index climbed 44.31, or 1 percent, to 4,411.79 to top its prior all-time high, set early last week. The Dow rose 238.20, or 0.7 percent, to 35,061.55, and the Nasdaq composite gained 152.39, or 1 percent, to 14,836.99.

All three indexes finished with gains of better than 1 percent for the week, completely

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Goldman Sachs: Biden’s antitrust crackdown could slow the deal boom on Wall Street

“It will be more onerous to complete deals as regulators scrutinize transactions,” Goldman Sachs analysts wrote in a note to clients.

For now, dealmaking is alive and well on Wall Street. US-based companies have announced a staggering $1.9 trillion in acquisitions so far this year, according to Goldman Sachs. That’s the fastest pace of M&A activity since at least 2000, according to the bank.

In one prominent example, popular video-conferencing company Zoom (ZM) announced a $14.7 billion deal Sunday to buy cloud-based software company Five9. It marks Zoom’s largest purchase in company history.
But such deals could come
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Investors bet on Kroger, Costco as Covid-19 cases spook Wall Street

As U.S. stocks plummeted Monday, investors bet on a familiar category that could grow if Covid-19 cases continue to rise: Grocery stores.

Shares of Kroger, Albertsons, BJ’s Wholesale Club were up as of midday Monday. Costco touched an all-time high of $415.32.

Those stocks were among the rare bright spots on Wall Street, as the Dow Jones Industrial average appears headed for its biggest drop of the year. Several other stay-at-home stocks, including Clorox and Peloton, were also in the green.

Grocers have been some of the biggest pandemic beneficiaries over the past year, as restaurants temporarily shut and shoppers

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Portman Letter to Wall Street Journal Highlights Economic Benefits of Bipartisan Infrastructure Proposal

July 14, 2021


Portman Difference

Today in the Wall Street Journal, Senator Portman wrote a letter to the editor highlighting the bipartisan infrastructure proposal he is helping to write and how it will help the economy grow. This is in response to a Wall Street Journal article arguing that building new highways will not benefit the economy. As Senator Portman notes, the bipartisan infrastructure proposal is not just about improving our highway system, which will lead to greater economic efficiency, but also about broad investment in ports, freight rail, bridges, and other critical infrastructure like broadband. This approach

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Banks on Wall Street report bumper second-quarter profits

BANK BOSSES were full of good cheer as they reported their second-quarter earnings on July 13th and 14th. “The consumer…their house value is up, their stocks are up, their incomes are up, their savings are up…they’re raring to go,” said Jamie Dimon, the boss of JPMorgan Chase, when analysts asked about the risk that economic growth might slow in the coming months. David Solomon, the chief executive of Goldman Sachs, sounded upbeat when asked if an executive order from the White House seeking to increase competition among businesses might cool feverish dealmaking activity: “I’m encouraged by the fact that

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Behind the Lordstown Debacle, the Hand of a Wall Street Dealmaker

Goldman, which was working with Mr. Hamamoto and arranged $500 million in additional financing for the acquisition, ran only a standard background check on Mr. Burns — a public-records search that took more effort than simply looking him up on Google but stopped short of any interviews, a person familiar with the bank’s activities said.

Mr. Burns did not respond to requests for comment.

In early August, news of the merger of DiamondPeak and Lordstown drove shares of the SPAC up 20 percent. Small investors, who have become active players in the stock market in recent years, were

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Stocks tumble as Delta variant fears grip Wall Street

While stocks finished off their lows, Wall Street was still in the red. The Dow (INDU) closed down 0.8%, or 260 points, while the S&P 500 (SPX) dropped 0.9%. The Nasdaq Composite (COMP) fell 0.7%.
Several factors contributed to Wall Street’s sharp reversal from its record highs set Wednesday.
The Delta variant: The spread of the coronavirus’ Delta variant continued to threaten the global economic recovery. More than 4 million people around the world have died of Covid-19, according to Johns Hopkins University. But the Delta variant is about twice as infectious as the
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Wall Street analysts see these risks causing a ‘growth scare’ for global markets

The bronze Charging Bull in the financial district of New York City.

Robert Nickelsberg | Getty Images

LONDON — With Covid-19 cases on the rise due to the surging delta variant and a range of macroeconomic shifts occurring, the global market narrative has moved from “goldilocks to growth scare,” according to Barclays.

In a research note Monday, the British lender suggested hedging remains warranted for investors given the swirling crowd of downside risks, but argued that the recent sharp reversal of the reflation trade was “overdone.”

“The combination of data no longer delivering positive surprises, burgeoning evidence that supply and

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