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☆ SentinelOne scraps Wiz partnership nearly a week after bid interest
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 30 (Reuters) - SentinelOne (S.N) said on Wednesday it had terminated a partnership with cybersecurity startup Wiz, citing "lack of execution". The termination comes less than a week after Wiz said it was considering a bid for SentinelOne, which offers artificial intelligence-backed cybersecurity products. SentinelOne, launched in Israel in 2013, also said the partnership has not been productive for its business. Wiz, founded in 2020 and backed by Sequoia Capital, Insight Partners and Blackstone, offers products to detect and respond to threats to cloud systems. Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Wiz, Zaheer Kachwala, Maju Samuel Organizations: SentinelOne Inc, New York Stock Exchange, REUTERS, SentinelOne, Sequoia Capital, Insight Partners, Blackstone, Thomson Locations: New York City, U.S, Israel, Bengaluru

☆ Goldman to pay $5.5 mln to settle US CFTC accusations it failed to keep cell phone records
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly//File Photo Acquire Licensing RightsAug 29 (Reuters) - Goldman Sachs (GS.N) will pay a $5.5 million civil penalty to settle allegations it failed to keep records of staff cell phone calls, and for breaching a prior order, the U.S. Commodity Futures Trading Commission (CFTC) said on Tuesday. A Goldman spokesperson said in an email statement sent to Reuters: "We are pleased to have this matter resolved." The CFTC ordered Goldman to pay a $1 million civil monetary penalty and to cease and desist from further violations of CFTC record keeping provisions. The order entered on Tuesday finds that Goldman had additional record-keeping failures in violation of the cease-and-desist provision of the earlier order. Due to problems with a third-party vendor's hardware, the bank failed to fully record and retain thousands of mobile device calls by employees .

Persons: Goldman Sachs, Andrew Kelly, Goldman, Ismail Shakil, Saeed Azhar, Susan Heavey, Michelle Price, Mark Heinrich Our Organizations: New York Stock Exchange, REUTERS, U.S . Commodity Futures Trading Commission, Reuters, CFTC, Wall, Thomson Locations: New York City , New York, U.S, Ottawa, New York

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS), showed the number of job openings stood at 8.827 million in July, falling for the third straight month and signaling easing labor market pressures. The S&P 500 communication services sector (.SPLRCL) rose 2.6%, while consumer discretionary (.SPLRCD) and technology (.SPLRCT) stocks gained 1.9% each. The non-farm payrolls report on Friday will offer investors more clarity about the state of the labor market. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Elliott, Hogan, Jerome Powell's, drugmaker, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, U.S . Federal Reserve, Labor, Conference Board, Riley, Microsoft, Nvidia, Google, Elliott Investment Management, Dow Jones, Verizon, Citi, PDD Holdings, NYSE, Thomson Locations: New York, United States, Bengaluru

☆ Goldman to pay $5.5mln to settle US CFTC charges over recording-keeping
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: 1 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly//File Photo Acquire Licensing RightsAug 29 (Reuters) - Goldman Sachs (GS.N) will pay a $5.5 million civil penalty to settle alleged recording-keeping violations and for violating a prior order, the U.S. Commodity Futures Trading Commission (CFTC) said on Tuesday. The CFTC's order finds Goldman violated a cease-and-desist provision of a prior order and committed record-keeping violations in connection with failing to properly record and retain certain audio files, the regulator said in a statement. Reporting by Ismail Shakil in Ottawa; editing by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Andrew Kelly, Goldman, Ismail Shakil, Susan Heavey Organizations: New York Stock Exchange, REUTERS, U.S . Commodity Futures Trading Commission, Thomson Locations: New York City , New York, U.S, Ottawa

☆ A spot bitcoin ETF is much closer to reality, but investors aren't quite there yet
▼ + stars: | 2023-08-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The court simply said that the SEC has erred in approving one ETF (bitcoin futures) and not approving another (spot bitcoin). 1) Approve all or some of the nine applications for a spot bitcoin ETF as soon as possible. Applicants for a spot bitcoin ETFGrayscale Bitcoin TrustArk/21 Shares Bitcoin TrustBitwise Bitcoin ETF TrustBlackRock Bitcoin ETF TrustVanEck Bitcoin TrustWisdomTree Bitcoin TrustValkyrie Bitcoin FundInvesco Galaxy Bitcoin ETFFidelity Wise Origin Bitcoin Trust2) Delay as long as the law allows. Even assuming a spot bitcoin ETF is coming, it doesn't mean Grayscale can necessarily jump the line. Note: Matt Hougan Chief Investment, Officer for Bitwise Asset Management, one of the applicants for a spot bitcoin ETF, will appear on ETF Edge on Halftime Report Wednesday.

Persons: Gary Gensler, Who's, Matt, Craig Salm, Grayscale's, Jeremy I, VedderPrice Organizations: Appeals, Federal Circuit, Washington , D.C, SEC, U.S, BlackRock, Fidelity, Bitcoin, Federal Register, Investment, Bitwise Asset Management, Edge Locations: Washington ,

☆ HP dials back profit expectations on PC market slump, China weakness
▼ + stars: | 2023-08-29 | by ( Zaheer Kachwala | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 29 (Reuters) - HP Inc (HPQ.N) tempered expectations for annual profit on Tuesday, as it grapples with a more than a year-long slump in the personal computers segment and sluggish demand in key market China. Shares of the Palo Alto, California-based company fell 5.2% in after-market trading. HP now forecasts adjusted earnings per share to be in the range of $3.23 to $3.35 from earlier expectations of $3.30 to $3.50. However, a focus on controlling costs helped the PC maker report adjusted earnings per share of 86 cents, in line with analysts' estimates. The company remains on track to deliver 40% of its three-year cost savings target by the end of the fiscal year.

Persons: Brendan McDermid, Enrique Lores, Lores, Zaheer Kachwala, Krishna Chandra Organizations: Hewlett - Packard, New York Stock Exchange, REUTERS, HP Inc, Palo, HP, Thomson Locations: New York, U.S, China, Palo Alto , California, Bengaluru

He said that once implemented, the prices on negotiated drugs will decrease for up to 9 million seniors who currently pay as much as $6,497 in out-of-pocket costs per year for these prescriptions. This kicks off the negotiation process for the 10 drugs whose new prices will go into effect in 2026. U.S. laws had prohibited Medicare from negotiating pharmaceutical prices as part of its prescription drug program that began about 20 years ago. CMS Director Dr. Meena Seshamani said Medicare plans to use a review process to make sure insurance companies keep clinically appropriate access to negotiated drugs. Two analysts said they expect the negotiated prices to move beyond Medicare and affect commercial markets for these drugs by 2026, when they come into effect.

Persons: Joe Biden, Jonathan Ernst, Biden, Joe Biden’s, Januvia, Xarelto, Johnson, Boehringer Ingelheim, Eli Lilly's, Jardiance, Mohit Bansal, Entresto, Eli Lilly, Merck, Bristol Myers, Giovanni Caforio, Caforio, enrollees, Meena Seshamani, Stelara, Amgen, Evan Seigerman, Patrick Wingrove, Mike Erman, Manas Mishra, Nandita Bose, Caroline Humer, Bill Berkrot Organizations: Social Security, University of Tampa, REUTERS, U.S, Bristol Myers Squibb, Pfizer, Merck, Co's, Johnson, Novo Nordisk, NYSE Arca Pharmaceutical, U.S . Centers, Medicare, Medicaid Services, Reuters Graphics Wells, Novartis, AstraZeneca, Bristol, J, U.S . Department of Health, Human Services, BMO Capital, Thomson Locations: Tampa , Florida, U.S, Amgen's, Jardiance, Germany, Bengaluru, Washington

☆ Morning Bid: Quietly absorbing one more Fed hike
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +5 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. Early Tuesday, futures priced almost a two-thirds chance of that additional quarter-point move in November. And yet - perhaps with the uncertainty dissipating, the economy still robust and bond markets better priced - world markets appear to be taking the tighter odds in their stride. More impressively in the circumstances, restive bond markets calmed down and bond yields continued to dial back from their highest in over a decade last week. Asia bourses more widely and European indices were higher, while Wall St futures were flat ahead of the open.

Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Jackson, Gina Raimondo, China's, Idalia, Michael Barr, JM Smucker, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Atlanta, Overseas, U.S . Commerce, Garden Holdings, Wall, U.S, Dallas Fed, Federal, Treasury, HP, Reuters Graphics, Reuters Graphics Reuters, Thomson, Reuters Locations: New York, U.S, Washington, Beijing, China, HK, Asia, Florida's, Coast, Cuba

As a result, investing in equal-weighted ETFs that provide a more diversified approach and offer exposure to old economy-linked sectors such as energy and manufacturing are coming back in favor as investors look to broaden their exposure beyond Big Tech. Laura Cooper of BlackRock said the company's "highest conviction call" in the United States is the S&P 500 equal-weight. The $42-billion Invesco S&P 500 equal-weighted ETF , which mirrors the performance of the S&P 500 equal-weight index (.SPXEW), saw inflows of $8.80 billion from the beginning of June through Aug. 25, according to Refinitiv Lipper data. In comparison, the much larger $402-billion SPDR S&P 500 ETF Trust , which tracks moves in the market cap weighted S&P 500 (.SPX), bled $10.88 billion during the same period. Invesco S&P 500 equal-weighted ETF drew $4.85 billion inflows in June, the most since the fund was launched in 2003, followed by $3.53 billion in July, the second highest on record.

Persons: Brendan McDermid, Laura Cooper, BlackRock, Cooper, Dan Boardman, Jake Dollarhide, BlackRock's Cooper, Sruthi Shankar, Medha Singh, Sweta Singh, Shounak Organizations: New York Stock Exchange, REUTERS, U.S . Federal, Big Tech, iShares EMEA, BlackRock, Trust, BRI Wealth Management, Apple, Microsoft, Nvidia, Google, Facebook, Meta, Nasdaq, Longbow Asset Management Company, Thomson Locations: New York City, U.S, United States, Weston, Bengaluru

About 240,000 people are expected to be eligible for the settlement, Chris Seeger, a lead lawyer for the plaintiffs, said at a press conference. The money will be paid out from 2023 to 2029, and $1 billion will be in the form of 3M stock, the company said in a statement. Some analysts' estimates of the company's potential liability from the earplug litigation had been as high as $10 billion. The Combat Arms earplugs were made by Aearo Technologies, a company 3M acquired in 2008. Aearo filed for bankruptcy in July 2022, with 3M pledging $1 billion to fund its liabilities stemming from the earplug lawsuits.

Persons: Brendan McDermid, Chris Seeger, Seeger, Bryan Aylstock, Clayton Clark, M, Casey Rodgers, Aearo, Rodgers, Brendan Pierson, Kannaki, Alexia Garamfalvi, Bill Berkrot Organizations: New York Stock Exchange, REUTERS, U.S, 3M, Aearo Technologies, District, Thomson Locations: New York City, U.S, Minnesota, Afghanistan, Iraq, Pensacola , Florida, New Yorkk, Bengaluru

☆ Vanguard joins BlackRock, cuts support for shareholder items on climate, social issues
▼ + stars: | 2023-08-28 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

The logo for Vanguard is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. Support for shareholder resolutions calling for such steps has declined at U.S. companies this year, with top asset manager BlackRock saying it backed the mostly-advisory measures just 7% of the time, down from 22% last year. Like BlackRock, Vanguard noted new securities regulations that make it harder for companies to leave questions off their ballots. In a note on its website, Vanguard also said many resolutions sought changes that might not be needed. Like BlackRock, Vanguard did not address how the criticism may have shaped votes this year but said its approach to evaluating shareholder proposals "has been consistent over time."

Persons: Brendan McDermid, Ross Kerber, Diane Craft Organizations: Vanguard, New York Stock Exchange, REUTERS, U.S, BlackRock, Thomson Locations: New York City, U.S, Pennsylvania, BlackRock

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday. According to preliminary data, the S&P 500 (.SPX) gained 27.49 points, or 0.62%, to end at 4,433.20 points, while the Nasdaq Composite (.IXIC) gained 114.49 points, or 0.84%, to 13,705.13. Micron's and Intel's shares gained for much of the session. Horizon's shares rose.

Persons: Brendan McDermid, Goldman Sachs, Jerome Powell, Powell didn't, Ross Mayfield, Gina Raimondo, Wang Wentao, Shristi Achar, Noel Randewich, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Investment, Baird, Nvidia, Creative Planning, Nasdaq, Dow Jones, JD.com, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: New York City, U.S, China, Bengaluru, Oakland, Calif

☆ US stocks advance, crude rises, crucial data in the wings
▼ + stars: | 2023-08-28 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The pan-European STOXX 600 index (.STOXX) rose 0.89% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.60%. Emerging market stocks rose 0.65%. U.S. crude rose 0.34% to settle at $80.10 per barrel, while Brent settled at $84.42, down 0.07% on the day. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.

Persons: Brendan McDermid, Chuck Carlson, Carlson, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson, Diane Craft Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Horizon Investment, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, Gulf, U.S . Treasury, Fed, Thomson Locations: New York City, U.S, Hammond , Indiana, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Horizon's shares rose 5.5%. Advancing issues outnumbered decliners for a 3.82-to-1 ratio on the NYSE and a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 101 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Roosevelt Bowman, Gina Raimondo, Wang Wentao, Goldman Sachs, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bernstein Private Wealth Management, Traders, Fed, Nvidia, U.S, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, U.S . Federal Trade Commission, Horizon Therapeutics, Creative Planning, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ Goldman Sachs to sell wealth advisory unit to Creative Planning
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly//File Photo Acquire Licensing RightsAug 28 (Reuters) - Goldman Sachs (GS.N) on Monday said it has struck a deal to sell an investment advisory business to wealth management firm Creative Planning LLC. Creative Planning is an independent wealth management firm with more than 2,100 employees across its affiliates and $245 billion in combined assets under management and advisory. "It is margin accretive to Asset & Wealth Management and allows us to focus on the execution of our premier ultra-high net worth wealth management and workplace growth strategy," said Marc Nachmann, Goldman Sachs global head of Asset & Wealth Management in a statement. The bank can serve high net worth investors through RIA and other wealth management clients, such as Creative Planning, he said. Goldman Sachs & Co LLC is serving as financial advisor and Weil, Gotshal & Manages LLP is serving as legal counsel to Goldman Sachs.

Persons: Goldman Sachs, Andrew Kelly, David Solomon, Goldman, Marc Nachmann, Weil, Manya Saini, Saeed Azhar, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Creative Planning, United Capital Financial Partners, Creative, Wealth Management, Co, Gotshal, Thomson Locations: New York City , New York, U.S, Bengaluru, New York

☆ U.S. stocks rally, crude rises as crucial data awaits
▼ + stars: | 2023-08-28 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. European stocks were sharply higher with technology shares leading the way, with an assist from China-exposed industrials. The pan-European STOXX 600 index (.STOXX) rose 0.85% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.69%. Emerging market stocks rose 0.65%. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.

Persons: Brendan McDermid, Powell, Robert Pavlik, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Dakota Wealth, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, U.S . Treasury, Thomson Locations: New York City, U.S, Fairfield , Connecticut, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, which is set to be released on Thursday and the non-farm payrolls data due on Friday. ET, Dow e-minis were up 74 points, or 0.22%, S&P 500 e-minis were up 6.5 points, or 0.15%, and Nasdaq 100 e-minis were up 41.5 points, or 0.28%. Horizon Therapeutics' shares rose 5.2%. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Mark Haefele, Powell's Jackson, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Fed, UBS Global Wealth Management, U.S, PDD Holdings, Baidu, Dow e, U.S . Federal Trade Commission, Horizon Therapeutics, Therapeutics, Thomson Locations: New York City, U.S, China, Xpeng, Bengaluru

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The S&P 500 communication services (.SPLRCL) and technology (.SPLRCT) sectors led gains among the 11 major S&P sub-indexes, rising 1.2% and 0.8% respectively. Horizon's shares rose 5.8%. Advancing issues outnumbered decliners for a 5.47-to-1 ratio on the NYSE and a 2.95-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Peter Andersen, Gina Raimondo, Wang Wentao, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Microsoft, Andersen Capital Management, Traders, U.S, PDD Holdings, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, Xpeng, U.S . Federal Trade Commission, Horizon Therapeutics, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 mln
▼ + stars: | 2023-08-28 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File photo Acquire Licensing RightsHONG KONG, Aug 28 (Reuters) - Chinese electric car company Xpeng (9868.HK) said it will acquire ride-hailing giant Didi's smart electric vehicle (EV) unit in a deal worth as much as $744 million and the two companies will form a strategic partnership. As part of the deal, Xpeng will launch an A-class model next year under a new brand, currently called MONA, aiming to expand in the mass-market segment with the car to be priced in the $20,000 price tier. "Project 'MONA' will accelerate the Company's production and sales growth and help achieve greater economies of scale," Xpeng said in a statement. The deal comes amid slowing demand and excess manufacturing capacity in China's EV industry that has made it hard for relative newcomers such as Didi to enter the market. Didi will acquire around 3.25% of Xpeng shares under the deal, which could increase depending on whether production and sales targets are fulfilled.

Persons: Didi, Brendan McDermid, HONG KONG, Xpeng's, Xpeng, MONA, robotaxis, Josh Ye, Edwina Gibbs Organizations: New York Stock Exchange, REUTERS, HK, EV, Thomson Locations: New York City, U.S, HONG

☆ Stock futures inch higher to kick off the final trading week of a rocky August: Live updates
▼ + stars: | 2023-08-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures rose slightly to kick off the final trading week of August. Futures tied to the Dow Jones Industrial Average rose 50 points, or about 0.15%, while S&P 500 futures and Nasdaq-100 futures added 0.14% and 0.7%, respectively. The Dow Jones Industrial Average gained 247.48 points, or 0.7%, on Friday, but finished the week 0.45% lower. Both the broad-based and tech-heavy index notched their first winning week in four, adding about 0.8% and 2.3%, respectively. The final trading week of August kicks off Monday, with all the major indices on track to finish the month with losses.

Persons: Stocks, Jerome Powell, Powell, Brian Price Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Federal, Dow Jones Industrial, Investment Management, Commonwealth Financial Network, Dow, Dallas Fed Locations: Jackson Hole , Wyoming

☆ Indexes end higher in volatile trade as investors assess Powell speech
▼ + stars: | 2023-08-25 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Powell also acknowledged that price pressures have eased in his much-anticipated morning speech at the Economic Policy Symposium at Jackson Hole, Wyoming. Powell "is demonstrating that he is pleased with how far monetary policy has come and how inflation has been reduced. All of the major S&P 500 sectors rose, with consumer discretionary (.SPLRCD), technology (.SPLRCT) and energy (.SPNY) among the top gainers. Reuters GraphicsThe S&P 500 and Nasdaq also ended higher for the week, with the Nasdaq rising about 2.3% and ending a three-week streak of losses. The S&P 500 posted 6 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 23 new highs and 202 new lows.

Persons: Jerome Powell, Powell, Michael Arone, Brendan McDermid, Nordstrom, Caroline Valetkevitch, Amruta Khandekar, Lewis Krauskopf, Shinjini Ganguli, Deepa Babington Organizations: Marvell Technology, Nordstrom, Dow, Nasdaq, Federal, State Street Global Advisors, Dow Jones, Reuters, Traders, New York Stock Exchange, REUTERS, Hostess Brands, Hawaiian Electric Industries, NYSE, Thomson Locations: U.S, , Wyoming, Boston, New York City, Hawaii, Maui

☆ Wall St Week Ahead Historically stormy month of September may test US stock rally
▼ + stars: | 2023-08-25 | by ( David Randall | ) www.reuters.com time to read: +4 min

The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. In Septembers since 1945, the S&P 500 has declined an average of 0.7%, the worst performance of any month, according to CFRA. Of course, bullish stock investors have largely been rewarded for looking past potential pitfalls this year. "The correction started on the first day of the month, and now it has corrected the conditions that made it vulnerable," Hayes said. Reporting by David Randall; Additional reporting by Lewis Krauskopf; Editing by Ira Iosebashvili and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Jack Janasiewicz, Janasiewicz, Jerome Powell, Sandy Villere, Goldman Sachs, Tim Hayes, Ned Davis, Hayes, David Randall, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Reserve, Natixis, Solutions, U.S, Villere, Pfizer, Abbott Laboratories, Investors, Republicans, U.S . House, Goldman, Federal, Ned, Ned Davis Research, Thomson Locations: New York City, U.S, Jackson

☆ Cybersecurity startup Wiz considers potential bid for SentinelOne
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 25 (Reuters) - Cybersecurity startup Wiz said on Friday it is considering a potential bid for SentinelOne (S.N) after the $4.9 billion company started exploring strategic options. SentinelOne has struggled to become profitable, with clients slashing their information technology spending amid an uncertain economy and sticky inflation. Earlier in the week, people familiar with the matter told Reuters the SentinelOne was exploring options that could include a sale. SentinelOne has hired investment bank Qatalyst Partners to advise on discussions with potential acquirers, including private equity firms, the sources had said. Wiz and SentinelOne in March had announced an exclusive partnership to deliver end-to-end cloud security.

Persons: Brendan McDermid, SentinelOne, Jaspreet Singh, Krishna Chandra Organizations: SentinelOne Inc, New York Stock Exchange, REUTERS, Reuters, Qatalyst Partners, Thomson Locations: New York City, U.S, Bengaluru

☆ Indexes end higher in volatile trade as investors take in Powell speech
▼ + stars: | 2023-08-25 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Powell also acknowledged that price pressures have eased in his much-anticipated morning speech at the Economic Policy Symposium at Jackson Hole, Wyoming. According to preliminary data, the S&P 500 (.SPX) gained 29.01 points, or 0.66%, to end at 4,405.32 points, while the Nasdaq Composite (.IXIC) gained 125.16 points, or 0.93%, to 13,589.13. All of the major S&P 500 sectors ended higher, with energy (.SPNY), consumer discretionary (.SPLRCD) and technology (.SPLRCT) among the top gainers. The S&P 500 and Nasdaq also ended higher for the week, with the market gaining in the run up to Nvidia's (NVDA.O) second-quarter results.

Persons: Brendan McDermid, Jerome Powell, Powell, Michael Arone, Nordstrom, Amruta Khandekar, Lewis Krauskopf, Shinjini Ganguli, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Marvell Technology, Nordstrom, Federal, Nasdaq, Dow Jones, State Street Global Advisors, Hostess Brands, Reuters, Thomson Locations: New York City, U.S, , Wyoming, Boston, Hawaii, Maui, New York

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Indexes up: Dow 0.24%, S&P 0.38%, Nasdaq 0.63%Aug 25 (Reuters) - U.S. stocks extended gains on Friday after comments from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium were perceived to be less hawkish than expected. The Fed may need to raise interest rates further to ensure inflation is contained, Powell said at the conference, which is also attended by other top global central bankers. "My hunch is that he is being seen as not as hawkish as had been feared." Reporting by Amruta Khandekar and Shristi Achar A; additional reporting by Bansari Mayur Kamdar; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Jerome Powell, Powell, Stuart Cole, Amruta Khandekar, Bansari Mayur, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, CPI, Equiti, Traders, Dow Jones, Thomson Locations: New York City, U.S, London

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