Category: Latest News
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Crypto this Friday: Elon Musk accused of insider trading, OpenAI director’s Twitter account hacked, and more
Elon Musk faces insider trading allegations Tesla (NASDAQ:TSLA) CEO Elon Musk faces insider trading allegations in a class-action lawsuit filed by investors, who allege Tesla’s CEO manipulated the Dogecoin (COIN:DOGEUSD) cryptocurrency, resulting in billions in losses for them. Investors claim Musk used publicity strategies, including Twitter posts and media appearances, to profit at his expense. The judge indicated that…
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Payrolls Hits 339,000 in May, Well Above Consensus
The US economy unexpectedly added 339,000 jobs in May 2023, far above market forecasts of 190,000 and after an upward revision from 294,000 in April, according to the Labor Department in its monthly payroll report released on Friday. US job growth unexpectedly picked up in May as the job market remained surprisingly resilient despite rising…
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Futures Holding On To Gains Following Stronger Than Expected Jobs Data
US Market The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to extend the rally seen over the course of the previous session. The futures held on to earlier gains following the release of a Labor Department report showing U.S. employment surged by much more than expected…
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Friday’s Wall Street Highlights: SoftBank, Boeing, Broadcom, MongoDB, Meta Platforms and more
US Index Futures rose in premarket trading on Friday after the US Senate passed a bill raising the debt ceiling, eliminating the risk of a debt default. The market is now shifting its focus to the Payroll report, which is important for calibrating expectations about the trajectory of US interest rates. By 6:55 AM, Dow Jones…
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North American Morning Briefing: Stock Futures Rise as Jobs Report Swings Into Focus
Market Wraps Watch For: Employment Report for May Today’s Top Headlines/Must Reads: – Jobs Report Expected to Show Unemployment Still Historically Low – Senate Approves Deal Raising Debt Ceiling, Averting U.S. Default – As China Risks Grow, Manufacturers Seek Plan B-and C and D – Nvidia Is Still a ‘Buy’ on Wall Street Opening Call:…
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US Futures, European Stocks Rise Ahead of Jobs Data
In the U.S. futures for the S&P 500 were up 0.3% and futures for the Dow Jones Industrial Average increased 0.4% Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.4% in morning trading. Dechra Pharmaceuticals added 8.2% and Samhallsbyggnadsbolaget rose 5.5%. On the other…
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Top Company News of the Day: Rio Tinto, Twitter, Disney, Meta
Rio Tinto to Spend $395 Million on Australia Desalination Plant Rio Tinto said it plans to invest in a seawater desalination plant in the Pilbara region of Western Australia, where it runs massive iron-ore mining operations. Twitter’s Top Content Moderation and Safety Executive Leaves Ella Irwin, who declined to discuss her reason for leaving, departed…
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Progress On Debt Ceiling Bill Contributes To Strength On Wall Street
Stocks showed a lack of direction in early trading on Thursday but moved notably higher over the course of the session. With the upward move on the day, the Nasdaq and the S&P 500 reached their best closing levels in over nine months. The major averages pulled back off their highs of the session going…
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U.S. Stocks May Lack Direction After House Passes Debt Ceiling Bill
US Market The major U.S. index futures are currently pointing to a roughly flat open on Thursday, with stocks likely to show a lack of direction after ending the previous session mostly lower. The lack of momentum on Wall Street comes even though the House voted Wednesday night to approve the bill raising the U.S.…
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North American Morning Briefing: Attention Turns to Jobs Data
Market Wraps Watch For: ADP National Employment Report for May, Weekly Jobless Claims, Revise Productivity and Costs, ISM Report on Business Manufacturing PMI, EIA Weekly Petroleum Status Report Today’s Headlines/Must Reads – House Approves Debt-Ceiling Deal Struck by Biden and McCarthy – Profit Numbers Get Spruced Up as Business Slows – ESG Blowback: Exxon, Chevron…