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(Reuters) -The S&P 500 was set to open near a record high on Monday as focus shifted to the Federal Reserve’s meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. REUTERS/Carlo Allegri/File PhotoRecent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 to an all-time high. While the Fed has reassured that any spike in inflation would be transitory, policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting. The benchmark has climbed 13% this year while the Dow and the Nasdaq have risen 12.6% and 9.2%, respectively. [O/R]United Airlines Holdings and American Airlines Group gained 0.4% and 0.7% respectively after Citigroup raised its price target on the stocks.
Persons: Carlo Allegri, , Thomas Hayes, , Steve Burns, Julio Rodriguez Organizations: Reuters, New York Stock Exchange, REUTERS, Fed, Dow, Nasdaq, Great, Great Hill Capital, , Dow E, Lordstown Motors Corp, Chevron, Marathon Oil Corp, Schlumberger, Occidental Petroleum, Marathon Petroleum Corp, United Airlines Holdings, American Airlines Group, Citigroup, COVID Locations: Manhattan, New York City , New York, U.S, , Wyoming, Great Hill, New York
REUTERS/Carlo Allegri/File PhotoThe S&P 500 and the Dow eased on Monday, a day after the S&P 500 hit a record closing high, as investors awaited cues from the Federal Reserve's meeting this week on the central bank's outlook on inflation and the future of bond purchases. Recent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 (.SPX) to an all-time high. The benchmark has climbed 13% this year while the Dow (.DJI) and the Nasdaq (.IXIC) have risen 12.6% and 9.2%, respectively. Healthcare (.SPXHC) and financials were the biggest drag on the S&P 500 on Monday, while technology (.SPLRCT) and consumer discretionary (.SPLRCD) provided the biggest boost. The S&P 500 posted 16 new 52-week highs and no new low, while the Nasdaq recorded 136 new highs and seven new lows.
Persons: Carlo Allegri, Dow, Thomas Hayes, financials, Steve Burns, Julio Rodriguez, Tesla, Elon Musk Organizations: New York Stock Exchange, REUTERS, Nasdaq, Tesla Inc, Apple Inc, Amazon.com Inc, Fed, Dow, Great, Great Hill Capital, Healthcare, Dow Jones, Lordstown Motors Corp, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, , Wyoming, Great Hill, New York
REUTERS/Carlo Allegri/File PhotoThe S&P 500 was set to open near a record high on Monday as focus shifted to the Federal Reserve’s meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. Recent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 (.SPX) to an all-time high. While the Fed has reassured that any spike in inflation would be transitory, policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting. The benchmark has climbed 13% this year while the Dow (.DJI) and the Nasdaq (.IXIC) have risen 12.6% and 9.2%, respectively. At 08:24 a.m. EDT, Dow E-minis were down 8 points, or 0.02%, S&P 500 E-minis were up 3 points, or 0.07% and Nasdaq 100 E-minis were up 42.75 points, or 0.31%.
Persons: Carlo Allegri, Thomas Hayes, Steve Burns, Julio Rodriguez Organizations: New York Stock Exchange, REUTERS, Fed, Dow, Nasdaq, Great, Great Hill Capital, Dow E, Lordstown Motors Corp, Chevron, Marathon Oil Corp, Schlumberger, Occidental Petroleum, Marathon Petroleum Corp, United Airlines Holdings, American Airlines Group, Citigroup, COVID, Thomson Locations: Manhattan, New York City , New York, U.S, , Wyoming, Great Hill, New York
Stocks rally, yields drop as U.S. CPI data calms investors
  + stars: | 2021-06-10 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The report was largely in line with expectations, said Subadra Rajappa, head Of U.S. rates strategy at Societe Generale in New York. “The (equity) market is going to ignore the data. MSCI’s all-country world index rose 0.45% to 718.81, nudging past its previous record set Tuesday. In the United States, data showed people filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months. The dollar index fell 0.071%, with the euro down 0.07% to $1.217.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , MSCI’s, Thomas Hayes, ” Hayes, , Brent Organizations: YORK, Global, London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Societe Generale, Treasury, Americas, European Central Bank, Dow Jones, Nasdaq, Great, Great Hill Capital, ECB, U.S, West Texas Locations: City, City of London, Britain, New York, Natixis, Great Hill, United States
Intapp and LegalZoom, two legal-tech companies, filed their IPO paperwork on Friday. The S-1 filings lay out the companies' business models, key risk factors, and plans for growth. Launched in 2000 as a management platform for law firms, Intapp has since expanded into other industries like banking and marketing through a series of strategic acquisitions. "The pandemic really accelerated a secular shift to online legal services, as people became more comfortable doing everything online," Mozarsky said. LegalZoom has faced several lawsuits and could encounter more legal hurdlesIn the US, only licensed lawyers can provide legal services.
Persons: Intapp, Thad Jampol, Intapp's, Baker McKenzie, Perkins Coie, , there's, Robert Shapiro, LegalZoom, Scott Mozarsky, Mozarsky Organizations: Great Hill Partners, Am, KPMG, Big, of Labor Statistics, . Locations: LegalZoom, Missouri, . Utah, Arizona
Equities, yields rise as U.S. data shows economy gaining momentum
  + stars: | 2021-05-27 | by ( Chibuike Oguh | ) www.reuters.com + 0.00   time to read: +3 min
NEW YORK (Reuters) -World equity markets and U.S. Treasury yields rose on Thursday as better-than-expected jobless claims data and a positive report on first-quarter gross domestic product showed that economic recovery is gathering steam. The MSCI world equity index rose 0.15% to 709.59. Europe’s broadest stock index gained 0.37%, driven by industrials, basic materials and financial sectors. The dollar index traded in a narrow range on Thursday as traders still looked toward an upcoming inflation report closely watched by Federal Reserve. Oil prices rose on Thursday, bolstered by strong U.S. economic data that offset investors’ concerns about the potential for a rise in Iranian supplies.
Persons: Carlo Allegri, , Thomas Hayes, Richard Clarida, Randal Quarles, Brent Organizations: YORK, Treasury, New York Stock Exchange, REUTERS, U.S . Labor Department, Reuters, Commerce Department, Great, Dow Jones, Nasdaq, Japan, Federal Reserve, U.S, West Texas Locations: U.S, Manhattan, New York City , New York, Great Hill, Asia, Pacific
REUTERS/Shannon StapletonThe S&P 500 hovered near record highs on Thursday, helped by gains in Facebook and upbeat economic data, while the Nasdaq eased as investors locked in profits from certain megacap technology firms. Seven of the 11 major S&P 500 sectors were trading higher, with communication services stocks (.SPLRCL) leading gains. Of the 265 companies in the S&P 500 that have reported so far, 86.8% have topped analysts' earnings estimates, with Refinitiv IBES data now predicting a 44.7% jump in profit growth. The S&P 500 (.SPX) and the Nasdaq (.IXIC) indexes had touched record highs earlier in the session. The S&P index recorded 104 new 52-week highs and no new low, while the Nasdaq recorded 130 new highs and 18 new lows.
Persons: Shannon Stapleton, Thomas Hayes, Paul Nolte, Joe Biden, advancers Organizations: New York Stock Exchange, REUTERS, Facebook, Nasdaq, Facebook Inc, Apple Inc, Microsoft Corp, Tesla Inc, Amazon.com Inc, Apple, Microsoft, Great, Kingsview, Management, Dow, Caterpillar Inc, Merck, Co Inc, Federal Reserve, U.S, Dow Jones, McDonald's Corp, Wall, Twitter Inc, Gilead Sciences Inc, NYSE, Thomson Locations: New York City, U.S, Great Hill, Chicago, Gilead
(Reuters) -The S&P 500 and the Dow were set to slip from record levels on Monday as investors looked to the first-quarter earnings season for hints that corporate America was recovering from the impact of the COVID-19 pandemic. FILE PHOTO: The New York Stock Exchange is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., April 16, 2021. The S&P 500 has risen for the past four weeks, its longest winning streak since August 2020. About 79 S&P 500 companies are due to report earnings this week including Johnson & Johnson, Netflix Inc, Intel Corp, Honeywell and Schlumberger, according to Refinitiv IBES data. At 08:29 a.m. EDT, Dow E-minis were down 70 points, or 0.21%, S&P 500 E-minis were down 10.25 points, or 0.25% and Nasdaq 100 E-minis were down 59.25 points, or 0.42%.
Persons: Carlo Allegri Coca, , Thomas Hayes, Dow, Stock, Crypto, Riot, bitcoin, Davidson Organizations: Reuters, Dow, New York Stock, REUTERS, IBM Corp, Great, , Johnson, Netflix Inc, Intel Corp, Honeywell, Schlumberger, Dow E, Nasdaq, Tesla, GameStop Corp, Marathon, Harley Locations: America, Manhattan, New York City , New York, U.S, Great Hill, Texas, bitcoin
The S&P 500 has risen for the past four weeks, its longest winning streak since August 2020. About 79 S&P 500 companies are due to report earnings this week including Johnson & Johnson, Netflix Inc, Intel Corp, Honeywell and Schlumberger, according to Refinitiv IBES data. Nine of the 11 major S&P sectors dropped with financials and energy the only exceptions. At 09:57 a.m. EDT the Dow Jones Industrial Average fell 92.61 points, or 0.27%, to 34,108.06, the S&P 500 lost 5.60 points, or 0.13%, to 4,179.87 and the Nasdaq Composite lost 28.53 points, or 0.20%, to 14,023.81. The S&P 500 posted 47 new 52-week highs and no new lows, while the Nasdaq recorded 107 new highs and 35 new lows.
Persons: Dow, Carlo Allegri Coca, , Thomas Hayes, Crypto, Riot, bitcoin, Davidson Organizations: Reuters, America, New York Stock, REUTERS, Cola Co, IBM Corp, Great, Johnson, Netflix Inc, Intel Corp, Honeywell, Schlumberger, Dow Jones, Nasdaq, Tesla, GameStop Corp, Marathon, Harley, NYSE Locations: Manhattan, New York City , New York, U.S, Great Hill, Texas, bitcoin
Three people were declared dead at the scene of a shooting in Austin, Texas, on Sunday afternoon, emergency officials said on Twitter. This is still an active scene, please continue to avoid the area. More to Follow... — ATCEMS (@ATCEMS) April 18, 2021At this time the Great Hills Trail scene is still active. BREAKING: Austin police say active attack/shooter scene just down the road - likely an apartment complex - from Arboretum area in Austin. If you or someone you know is facing domestic violence, call the National Domestic Violence hotline for help at (800) 799-SAFE (7233) or go to www.thehotline.org for more.
Persons: , PIO8, Joseph Chacon, Stephen Broderick, Broderick, Chacon, Travis County, 3Rqyj2kkSE — Josh Hinkle Organizations: Twitter, Austin, Great Hills, Austin Police Department, Police, NBC, Medical Services Locations: Austin , Texas, Travis, Austin, Northwest Austin, Arboretum, www.thehotline.org
(Reuters) -The S&P 500 and the Dow posted fresh highs on Friday as investors pushed the benchmark indexes toward weekly gains on the back of strong economic data, falling Treasury yields and positive earnings from big U.S. banks. The S&P 500 has hit record highs in six of the last seven sessions, and the Dow surpassed its peak for the fourth session in six. ET, the Dow Jones Industrial Average rose 123.08 points, or 0.36%, to 34,159.07, the S&P 500 gained 10.75 points, or 0.26%, to 4,181.17 and the Nasdaq Composite dropped 2.79 points, or 0.02%, to 14,035.97. [US/]Tech behemoth Apple Inc, among the stocks which led Wall Street’s recovery last year from the coronavirus-fueled crash, slipped 0.5%. The S&P 500 posted 137 new 52-week highs and no new lows; the Nasdaq Composite recorded 139 new highs and 98 new lows.
Persons: Brendan McDermid, , George Catrambone, Morgan Stanley, Goldman Sachs, Wells, Thomas Hayes Organizations: Reuters, Dow, New York Stock Exchange, REUTERS, Nasdaq, DWS, Fed, JPMorgan Chase &, Goldman Sachs Group Inc, Bank of America, JPMorgan, Wells Fargo, Co, Great, Dow Jones, Apple Inc, Marathon, NYSE Locations: New York, U.S, Americas, Great Hill, Turkey
Asia shares set for choppy session after S&P 500 hits record high
  + stars: | 2021-04-08 | by ( Chibuike Oguh | ) www.reuters.com + 0.00   time to read: +3 min
(Reuters) - Asian equities are set for a choppy trading session on Friday after technology stocks lifted the S&P 500 to a new record even as investors weighed an unexpected rise in the number of Americans filing new claims for unemployment benefits. Australian S&P/ASX 200 futures rose 0.03% in early trading, while Hong Kong’s Hang Seng index futures lost 0.17%. U.S. Treasury yields fell on Thursday, pressured by Powell’s dovish comments and weaker-than-expected initial weekly jobless claims. The U.S. dollar dropped to a two-week low against a basket of currencies, tracking Treasury yields following the surprise rise in U.S. unemployment applications. Gold prices jumped, scaling a one-month peak as the Fed’s assurances that it will maintain its accommodative policy weighed on Treasury yields and the greenback.
Persons: Issei Kato, , Tim Ghriskey, Hong, Jerome Powell, Thomas Hayes, Powell’s dovish, Brent Organizations: Reuters, REUTERS, Treasury, Nasdaq, Inverness, Nikkei, U.S . Federal, International Monetary Fund, Apple Inc, Microsoft Corp, Amazon.com Inc, Great, Dow Jones, U.S, South Korean Locations: Tokyo, Japan, U.S, New York, Great Hill
(Reuters) - Global stocks held firm near record highs on Friday as receding inflation fears in the United States pushed down bond yields and lifted Wall Street, though softness in Chinese shares capped gains in Asia. REUTERS/Kim Kyung-Hoon/File PhotoMSCI’s broadest gauge of world stocks set a record high earlier in the Asian session and last stood almost flat. Japan’s Topix gained 0.6% and Australian stocks hovered near a more than one-year top, while South Korea’s Kospi touched the highest intraday level since mid-February. Benchmark 10-year Treasury yields held close to Thursday’s two-week trough near 1.6%, which had lifted U.S. tech shares and powered the S&P 500 to a record close. Crude oil prices were little changed as Wall Street’s rally and the soft dollar offset concern over a big jump in U.S. gasoline stocks.
Persons: Kim Kyung, Topix, Kospi, Jerome Powell’s reiteration, , Michael McCarthy, I’m, ” Powell, Thomas Hayes, Brent Organizations: Reuters, REUTERS, CSI, Federal Reserve, CMC Markets, , International Monetary Fund, Apple Inc, Microsoft Corp, Amazon.com Inc, Nasdaq, Great, U.S Locations: United States, Asia, Tokyo, Japan, South, Japan Asia, Washington, Beijing, U.S, Great Hill, Thursday’s
April 6 (Reuters) - Asian equities are poised to rise on Tuesday after the S&P 500 and Dow indexes set records as a streak of strong U.S. economic data fueled optimism even as a smaller-than-expected climb in 10-year Treasury notes eased inflation concerns. The data came after a jobs report on Friday beat forecasts with 916,000 added to the U.S. economy last month. “The jobs report set the stage for what we’re seeing today,” said Thomas Hayes, chairman of Great Hill Capital LLC in New York. On Monday, gains were led by sectors that have underperformed recently, including communication services , consumer discretionary and technology , as the 10-year U.S. Treasury yield remained below a 14-month high hit last week. Benchmark 10-year notes last rose 3/32 in price to yield 1.7127%, from 1.72% late on Friday.
Persons: , Thomas Hayes, “ It’s, Hong, ” Hayes, Brent Organizations: Dow, Institute for Supply Management, Great, Great Hill Capital, Treasury, Dow Jones, Nasdaq, U.S Locations: U.S, Great Hill, New York
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) An ISM survey for March is likely to show a jump in activity in the services sector, which accounts for more than two-thirds of U.S. economic activity. At the same time, there is starting to be a little understanding that perhaps earnings estimates are too low,” Hayes added. ET, Dow E-minis were up 243 points, or 0.74%, S&P 500 E-minis were up 23 points, or 0.57% and Nasdaq 100 E-minis were up 66.25 points, or 0.5%. Tesla Inc was set to add about $50 billion to its market value, as its shares surged after the world’s most valuable automaker posted record deliveries.
Persons: Russell, nonfarm payrolls, , Thomas Hayes, ” Hayes, Janet Yellen, Medha Singh, Maju Samuel Organizations: GameStop, Dow, Nasdaq, Great, Great Hill Capital, Bank of America, JPMorgan Chase & Co, Boeing Co, Dow Inc, Dow E, U.S, Treasury, Chicago Council, Global Affairs, Tesla Locations: Great Hill, New York, Bengaluru
(Reuters) - Futures pointed to a higher opening for Wall Street’s indexes on Monday, as investors cheered strong jobs data and waited for a report on the services sector with signals that 2021 could see the best annual economic growth in nearly four decades. FILE PHOTO: A U.S. flag flies outside The Federal Reserve Bank of New York in New York City, U.S., March 29, 2021. REUTERS/Brendan McDermid/File PhotoAn ISM survey for March is likely to show a jump in activity in the services sector, which accounts for more than two-thirds of U.S. economic activity. ET, Dow E-minis were up 243 points, or 0.74%, S&P 500 E-minis were up 23 points, or 0.57% and Nasdaq 100 E-minis were up 66.25 points, or 0.5%. Tesla Inc was set to add about $50 billion to its market value, as its shares surged after the world’s most valuable automaker posted record deliveries.
Persons: Brendan McDermid, Russell, nonfarm payrolls, , Thomas Hayes, ” Hayes, Janet Yellen Organizations: Reuters, Federal Reserve Bank of New, REUTERS, Great, Great Hill Capital, Bank of America, JPMorgan Chase & Co, Boeing Co, Dow Inc, Dow, Nasdaq, Dow E, U.S, Treasury, Chicago Council, Global Affairs, Tesla, GameStop Locations: Federal Reserve Bank of New York, New York City, U.S, Great Hill, New York
S&P 500, Dow at all-time highs after strong jobs data
  + stars: | 2021-04-05 | by ( Medha Singh | Shivani Kumaresan | ) www.reuters.com + 0.00   time to read: +3 min
(Reuters) - The S&P 500 and the Dow hit record highs on Monday as investors cheered strong jobs data and looked for a report on the services sector with signals that 2021 could see the best annual economic growth in nearly four decades. FILE PHOTO: A U.S. flag flies outside The Federal Reserve Bank of New York in New York City, U.S., March 29, 2021. [O/R]With speedy vaccinations and additional government stimulus helping the S&P 500 and the Dow clinch all-time highs, investors will now look to progress on a massive infrastructure plan and the upcoming corporate earnings season for insight on the sustainability of the rally. ET, the Dow Jones Industrial Average was up 303.10 points, or 0.91%, at 33,456.31, the S&P 500 was up 34.30 points, or 0.85%, at 4,054.17, and the Nasdaq Composite was up 110.71 points, or 0.82%, at 13,590.81. The S&P index recorded 63 new 52-week highs and no new low, while the Nasdaq recorded 97 new highs and two new lows.
Persons: Brendan McDermid, Russell, nonfarm payrolls, , Thomas Hayes, , Janet Yellen Organizations: Reuters, Dow, Federal Reserve Bank of New, REUTERS, Great, Great Hill Capital, Energy, Nasdaq, Dow Jones, U.S, Treasury, Chicago Council, Global Affairs, Tesla Inc, GameStop, NYSE Locations: Federal Reserve Bank of New York, New York City, U.S, Great Hill, New York
RPT-Comeback quashed for faith-driven investor Bill Hwang
  + stars: | 2021-03-30 | by ( Lawrence Delevingne | ) www.reuters.com + 0.00   time to read: +4 min
Hwang was making big money again, inspired by a renewed Christian faith. In 2001, Hwang launched his own hedge fund business, Tiger Asia Management, with seed money from Robertson, making him part of an elite group of Robertson proteges dubbed the Tiger Cubs. Hwang then turned the firm into a family office, renaming it Archegos Capital Management in early 2013. People who know Hwang professionally describe him as a hard- working, smart investor who is willing to make big bets. “Bill Hwang... runs a very concentrated, highly leveraged book,” said Thomas Hayes, chairman of Great Hill Capital LLC in New York.
Persons: Bill Hwang’s, Hwang, ” Hwang, unravelled, Karen Kessler, , Julian Robertson’s, Robertson, Grace, Becky, “ Bill Hwang, Thomas Hayes, Lawrence Delevingne, Svea Herbst, Bayliss, Matt Scuffham, Herb Lash, Jane Merriman, Pravin Char, Megan Davies, Cynthia Osterman Organizations: New, Archegos Capital, Nomura, Switzerland’s Credit Suisse, University of California, Carnegie Mellon University, Tiger Management, Tiger Asia Management, Tiger Cubs, Tiger Asia, Capital Management, Mercy Foundation, Great, Great Hill Capital, Hawaiian Islands Ministries, Svea Locations: New York, Korean, United States, Los Angeles, Hong Kong, Great Hill
Comeback quashed for faith-driven investor Bill Hwang
  + stars: | 2021-03-30 | by ( Lawrence Delevingne | ) www.reuters.com + 0.00   time to read: +4 min
Once punished by U.S. and Asian regulators for stock trading rule violations at his former hedge fund, the New York investor rebuilt his fortune to about $10 billion. 888 7th Ave, a building that reportedly houses Archegos Capital is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., March 29, 2021. Hwang then turned the firm into a family office, renaming it Archegos Capital Management in early 2013. People who know Hwang professionally describe him as a hard- working, smart investor who is willing to make big bets. “Bill Hwang... runs a very concentrated, highly leveraged book,” said Thomas Hayes, chairman of Great Hill Capital LLC in New York.
Persons: Bill Hwang’s, Carlo Allegri Hwang, ” Hwang, unravelled, Hwang, Karen Kessler, , Julian Robertson’s, Robertson, Grace, Becky, “ Bill Hwang, Thomas Hayes Organizations: Reuters, New, REUTERS, Archegos Capital, Nomura, Switzerland’s Credit Suisse, University of California, Carnegie Mellon University, Tiger Management, Tiger Asia Management, Tiger Cubs, Tiger Asia, Capital Management, Mercy Foundation, Great, Great Hill Capital, Hawaiian Islands Ministries Locations: New York, Manhattan, New York City , New York, U.S, Korean, United States, Los Angeles, Hong Kong, Great Hill
Nomura shares closed down 16.3%, a record one-day drop, while Credit Suisse shares tumbled 14%, their biggest fall in a year. Losses at Archegos Capital Management, run by former Tiger Asia manager Bill Hwang, sparked a fire sale of stocks including ViacomCBS and Discovery on Friday, a source familiar with the matter said. “This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” company spokesperson Karen Kessler said in a statement. Likewise, Morgan Stanley, which sold $4 billion in stocks related to Archegos on Friday, did not incur major losses, CNBC reported. They included Goldman Sachs, Morgan Stanley, Deutsche Bank, Credit Suisse and Nomura.
Persons: Brendan McDermid Japan’s Nomura, Morgan Stanley, Bill Hwang, Karen Kessler, Hwang, ” Archegos, , Richard Bernstein, ” Nomura, Goldman Sachs, financials, there’s, Dennis Dick, Archegos, Thomas Hayes Organizations: NEW, Archegos, New York Stock Exchange, REUTERS, Credit Suisse, Goldman Sachs, Nomura, Deutsche Bank, UBS, Archegos Capital Management, Tiger, Richard Bernstein Advisors, Financial Times, CNBC, U.S, Bright Trading, GameStop Corp, Melvin Capital Management, Great, Great Hill Capital, Baidu, Tencent, Baidu Inc, Music Entertainment, Vipshop Holdings, Farfetch Ltd, iQIYI Inc, Techedu Inc, Tiger Asia, Capital, Securities, Exchange Commission Locations: TOKYO, ZURICH, St, New York City, U.S, Switzerland, Tiger Asia, Las Vegas, United States, Japan, Great Hill, New York, China, Archegos
REUTERS/Brendan McDermidJapan’s Nomura and Credit Suisse of Switzerland warned of major losses from lending to Archegos for equity derivatives trades, triggering a worldwide sell-off in banking stocks. Nomura shares closed down 16.3%, a record one-day drop, while Credit Suisse shares tumbled 14%, their biggest fall in a year. Shares in ViacomCBS fell 23% last Wednesday after the media company sold shares at a price which diluted its value. Credit Suisse’s losses were likely to be at least $1 billion, two sources said. Archegos’ positions were highly leveraged.
Persons: Brendan McDermid Japan’s Nomura, Morgan Stanley, Bill Hwang, Karen Kessler, Hwang, ” Archegos, , Richard Bernstein, ViacomCBS, downgrades, Nomura, Archegos, Thomas Hayes, Goldman Sachs Organizations: Archegos, New York Stock Exchange, REUTERS, Credit Suisse, Goldman Sachs, Nomura, Deutsche Bank, UBS, Archegos Capital Management, Tiger, Richard Bernstein Advisors, Goldman, Credit, GameStop Corp, Regulators, Great, Great Hill Capital, Baidu, Tencent, Baidu Inc, Music Entertainment, Vipshop Holdings, Farfetch Ltd, iQIYI Inc, Techedu Inc, Tiger Asia, Capital, Securities, Exchange Commission Locations: ZURICH, TOKYO, St, New York City, U.S, Switzerland, Tiger Asia, ViacomCBS, United States, Japan, Great Hill, New York, China, Archegos
Jeff Bezos is more interested in expanding the Post's tech capabilities than acquisitions, sources said. Editor's note: This story originally included a statement that Marty Baron, Jeff Bezos, and The Washington Post had discussed a possible acquisition of the Miami Herald. Jeff Bezos has been a model newspaper owner since he purchased The Washington Post in 2013, growing the paper's technology capabilities and avoiding meddling in editorial matters. The Post has not made one under Bezos, but according to two people familiar with the matter, Post executives have discussed pursuing acquisitions in the past. "I think the Post has given Bezos some of the best public relations he's had in years," said one Post staffer.
Persons: Jeff Bezos, Fred Ryan, Marty Baron, Bezos, Zeus, Shailesh Prakash, Fred, Jeff, slacks, Kotaku, It's, Trump, he's, Baron, Kevin Merida, Steven Ginsberg, Liev Schreiber, Ryan, Marty Organizations: Post, Kotaku, Washington Post, Miami Herald, McClatchy, Seattle Times, Tribune Publishing, The Washington Post, Web Services, Amazon, Street, Gizmodo Media Group, Great Hill Partners, GEICO, Herald Locations: Baron's
Wall Street rises as Yellen speaks; spotlight on earnings
  + stars: | 2021-01-19 | by ( Devik Jain | Medha Singh | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Brendan McDermidAt her confirmation hearing, Yellen said the benefits of a big package outweigh the costs of a higher debt burden. President-elect Joe Biden, who will be sworn into office on Wednesday, outlined a $1.9 trillion stimulus package proposal last week to jump-start the economy and accelerate the distribution of vaccines. Wall Street’s main indexes rallied to record highs recently on hopes of a speedy economic recovery fueled by a hefty fiscal stimulus package and vaccine distribution. Tesla Inc gained 1.6% after Jefferies raised its earnings estimates ahead of the electric-car maker’s fourth-quarter results next week. The S&P 500 posted 24 new 52-week highs and no new low, while the Nasdaq recorded 326 new highs and 10 new lows.
Persons: Janet Yellen, Frank Masiello, Brendan McDermid, Yellen, Joe Biden, , Thomas Hayes, They’re, ” Hayes, Jefferies Organizations: Reuters, New York Stock Exchange, REUTERS, Great, ” Bank of America, JPMorgan, Citigroup Inc, Wells Fargo & Co, Big U.S, Goldman Sachs Group, Dow Jones, Nasdaq, Tesla, Boeing Co, NYSE Locations: St, New York, U.S, Great Hill, Big, Canada, Europe
GLOBAL MARKETS-Shares falter as U.S. stimulus buzz fades
  + stars: | 2021-01-15 | by ( Tom Arnold | Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +5 min
The MSCI world equity index, which tracks shares in 49 countries, was 0.2% lower. Earlier on Friday, an Asian regional share index had edged near record highs after U.S. President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world’s largest economy and accelerate its response to the coronavirus. But that initial boost later faded as risk appetite waned, lifting bond prices and the dollar, and hitting equities. The dollar index was at 90.458 versus a basket of currencies, up 0.2% on the day. Oil prices, which had risen on a weak dollar and strong Chinese import data, dropped as COVID-19 concerns in China hit sentiment.
Persons: Powell, Joe Biden, Biden, , James Athey, Tim Ghriskey, Jerome Powell, Angela Merkel, Trump, Thomas Hayes, Brent Organizations: Biden, Global, Aberdeen Standard Investments, , Inverness, Princeton University, JPMorgan, Citigroup, Investors, Great, U.S Locations: China, SHANGHAI, France, Germany, New York, U.S, South, Wells Fargo, Great Hill
SHANGHAI/NEW YORK, Jan 15 (Reuters) - Asian shares edged up near record highs on Friday after U.S. President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world’s largest economy and accelerate its response to COVID-19. Global stocks had initially firmed on Thursday on a report that the stimulus package could be as big as $2 trillion, much more than markets were expecting. The vaccines are being rolled out, so you’re going to significant stimulus in a kind of recovery scenario. Japan’s Nikkei was down 0.21% after touching three-decade highs in the previous session, Chinese blue-chips lost nearly 1% amid worries over rising COVID-19 cases in the country. The gains in Asia followed a late dip on Wall Street on Thursday.
Persons: Joe Biden, Biden, Biden’s, Jerome Powell, Powell, , Michael Frazis, Seng, Tim Ghriskey, Thomas Hayes, Brent Organizations: SHANGHAI, Princeton University, Frazis Capital Partners, Japan’s Nikkei, Wall, Inverness, Dow Jones, Nasdaq, JPMorgan, Citigroup, Investors, Great, U.S Locations: U.S, Sydney, Asia, Pacific, Japan, China, New York, Wells Fargo, Great Hill
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