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The Labor Department's report showed the August unemployment rate rose to 3.8% while wage growth slowed. The most traded stock in the S&P 500 was Tesla Inc , with $32.6 billion worth of shares exchanged during the session. For the week, the S&P 500 rose 2.50%, the Dow added 1.43% and the Nasdaq climbed 3.25%. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 2.1-to-one ratio. The S&P 500 posted 28 new highs and 20 new lows; the Nasdaq recorded 84 new highs and 90 new lows.

Persons: Keith Buchanan, Walt Disney, Brendan McDermid, Lululemon, Rosalind Brewer, Shristi Achar, Noel Randewich, Sruthi Shankar, Shounak Dasgupta, Richard Chang Organizations: Dell, Nasdaq, Dow, Disney, Charter Communications, Labor, Federal Reserve, GLOBALT Investments, ESPN, Charter's, Warner Bros Discovery, Paramount Global, Fox Corp, Tesla Inc, New York Stock Exchange, REUTERS, Dow Jones, Broadcom, Dell Technologies, Walgreens Boots Alliance, Thomson Locations: Atlanta, U.S, New York City, Bengaluru, Oakland , California

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 1 (Reuters) - Robinhood (HOOD.O) said on Friday it had entered into a share repurchase agreement with the United States Marshal Service (USMS) for $605.7 million to buy back stock from Sam Bankman-Fried's Emergent Fidelity Technologies. The shares of Robinhood were seized and subsequently transferred to the custody of the U.S. government after Bankman-Fried's FTX and Emergent filed for bankruptcy protection last year. Robinhood shares climbed more than 3% in premarket trading on the news. The online brokerage said the sale of the 55.3 million shares at $10.96 apiece had been approved by the U.S. District Court for the Southern District of New York. Robinhood first disclosed its intention to buy back the stake in February and said the company's board had authorized it to pursue purchasing most or all of the stock.

Persons: Andrew Kelly, Sam Bankman, Robinhood, Fried, FTX, Palo, Manya Saini, Hannah Lang, Devika Syamnath, Mark Potter Organizations: Inc, REUTERS, United States Marshal Service, Emergent Fidelity Technologies, U.S, Southern, of, Reuters, Thomson Locations: New York City, U.S, Robinhood, of New York, United States, Manhattan, Palo Alto , California, Bengaluru, Washington

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The S&P 500 climbed 0.38% to end at 4,514.87 points. Of the 11 S&P 500 sector indexes, nine rose, led by information technology (.SPLRCT), up 0.83%, followed by a 0.51% gain in energy (.SPNY). Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.9-to-one ratio. The S&P 500 posted 24 new highs and one new low; the Nasdaq recorded 70 new highs and 76 new lows.

Persons: Brendan McDermid, Rob Haworth, Haworth, Brown, Forman, BFb.N, Jack Daniels, Shristi Achar, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Visa, Mastercard, Nasdaq, Dow, U.S, Bank Wealth Management, Nvidia, HP Inc, Traders, Treasury, Dow Jones, Investors, Monday's U.S, Labor, Thomson Locations: New York City, U.S, Monday's, Bengaluru, Oakland, Calif

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. Earlier this year, Youngwood left UBS after it completed its deal to buy Credit Suisse. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021. Prior to joining Nasdaq, Dennison served as head of financial reporting at Goldman Sachs Group (GS.N).

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Adena Friedman, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker, Andy Sullivan Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, U.S, Reuters, UBS, Credit Suisse, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Swiss, New York

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. The letter urged the SEC to ensure that Shein and other foreign companies listed on U.S. exchanges verify through independent audits that they comply with U.S. laws that prohibit imports made with any forced labor. Shein has previously said it does not plan to IPO this year and has zero tolerance for forced labor. Shein has been able to rapidly expand in the U.S. despite concerns over its labor practices and sustainability. In May, two dozen U.S. representatives sent a similar letter to the SEC asking for it to halt a potential Shein IPO until the company confirmed that it does not use forced labor.

Persons: Chen Lin, Shein, Todd Rokita, Arriana McLymore, Cynthia Osterman Organizations: REUTERS, Securities and Exchange Commission, SEC, Reuters, New York Stock Exchange, Nasdaq, Indiana, Republican, Thomson Locations: Singapore, U.S, China, Washington, Beijing, Shein, Indiana, New York City

☆ 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

☆ Russian e-commerce firm Ozon loses latest appeal against Nasdaq delisting
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Ozon, one of Russia's top e-commerce companies, raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked a mini-IPO boom for Russian firms. Trading in Ozon's securities on Nasdaq was suspended soon after Russia despatched troops to Ukraine in February 2022, as were Russian company listings on the London Stock Exchange. "Our ADSs will not be delisted from Nasdaq until all available review and appeal procedures and periods available under the Nasdaq listing rules have expired," Ozon said in a statement. In late July, Ozon's ADSs began trading on Kazakhstan's Astana International Exchange (AIX), a move that it said could increase liquidity, especially for international investors to trade its securities. Russian recruiter Headhunter's securities have already been delisted from Nasdaq, but payments provider Qiwi (QIWI.O) and tech giant Yandex (YNDX.O) were thrown a lifeline to remain on Nasdaq, provided they divest entirely of their Russian assets.

Persons: Ozon, Ozon's ADSs, Olga Popova, Alexander Marrow, Mark Potter Organizations: Nasdaq, Trading, London Stock Exchange, Kazakhstan's Astana International Exchange, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, London

☆ Nasdaq rallies with Nvidia, tech shares; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) advanced 2.8%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Declining issues outnumbered advancing ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners. The S&P 500 posted 3 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 214 new lows.

Persons: Jerome Powell, Quincy Krosby, Jackson, Brendan McDermid, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Palo Alto Networks, Dow, Nasdaq, Nvidia, Federal, HSBC, Financial, Treasury, Traders, New York Stock Exchange, REUTERS, Dow Jones, Johnson, VMware, NYSE, Thomson Locations: Wyoming, Charlotte , North Carolina, New York City, U.S, Palo, billings

Arm's stock market launch is expected to bring back to life a lackluster IPO market, which has over the last year seen several high-profile startups postpone their listing plans due to market volatility. Arm said that more than 50% of its royalty revenue for the most recent fiscal year came from smartphones and consumer electronics. The company, whose chip technology powers most smartphones including iPhones, did not reveal the number of shares it is planning to sell and the valuation it will seek. Arm makes money from upfront licensing fees for technology and then a royalty paid on each chip sold by Arm's customers. Arm's chip designs dominate the smartphone industry, but they are also used in laptops made by Apple (AAPL.O) and some Windows machines.

Persons: Dado Ruvic, SoftBank, Arm, Goldman Sachs, JPMorgan Chase, Manya Saini, Jaiveer, Stephen Nellis, Max Cherney, Echo Wang, Anirban Sen, Stephen Coates Organizations: REUTERS, Arm Holdings, Research, Reuters, Vision Fund, SECOND, Acorn Computers, Apple Inc, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, Nvidia Corp, Apple, Nvidia, U.S, Barclays Plc, JPMorgan, Mizuho Financial Group, underwriters, Thomson Locations: U.S, Saudi, China, Arm China, Bengaluru, San Francisco, New York

☆ Bonds find respite but China crisis festers
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. But equally there was little let-up in the bad news from China's ailing economy and real estate sector. China's securities regulator said on Friday it would cut trading costs, support share buybacks and introduce long-term capital as it unveiled a package of measures aimed at reviving the stock market and boosting investor confidence. Other Asian bourses and European stocks fell too, with U.S. stock futures also in the red before the open. Emerging market equity indices (.MSCIEF) teetered near two-month lows too.

Persons: Brendan McDermid, Mike Dolan, HSI, teetered, Estee Lauder, Joe Biden, Fumio Kishida, Yoon Suk, Elaine Hardcastle Organizations: New York Stock Exchange, REUTERS, Bank of America, Federal, Jackson, China, HK, People's Bank of, U.S, Japan's, Palo Alto Networks, Deere, Treasury, Japan, South, Camp David Reuters Graphics Reuters, Reuters, Reuters Graphics, Thomson Locations: New York City, U.S, China, Treasuries, Beijing, Philadelphia, Shanghai, Hong Kong, People's Bank of China, South Korea

The minutes of the Fed's July monetary policy meeting showed most policymakers continue to prioritize the battle against inflation, adding to uncertainty among investors about the outlook for interest rates. Bank shares extended losses, with the S&P 500 bank index <.SPXBK> down 1% and Bank of America (BAC.N) leading losses among bigger banks to end 2.2% lower. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Equities have suffered through a rough patch in August, with the S&P 500 languishing near one-month lows as data underscoring sticky inflation and a robust economy fans fears of interest rates staying elevated for longer. The S&P 500 posted four new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 255 new lows.

Persons: Banks, we're, Peter Tuz, Brendan McDermid, Mike Reynolds, Saeed Azhar, Noel Randewich, Amruta, Lewis Krauskopf, Maju Samuel, Vinay Dwivedi, Deepa Babington Organizations: Nasdaq, Dow, Federal, Chase Investment, ”, Dow Jones, Bank, Bank of America, Nvidia, New York Stock Exchange, REUTERS, Walmart, NYSE, Thomson Locations: Charlottesville , Virginia, New York City, U.S, New York, Bengaluru

The rally in the chipmaker's stock pushed the information technology index (.SPLRCT) 1.85% higher, making it the strongest of 11 S&P 500 sector indexes. The S&P 500 climbed 0.58% to end the session at 4,489.72 points. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.1-to-one ratio. The S&P 500 posted 8 new highs and 11 new lows; the Nasdaq recorded 50 new highs and 192 new lows.

Persons: Tesla, Morgan Stanley, Jay Hatfield, Brendan McDermid, Goldman Sachs, Alex Chriss, Amruta Khandekar, Saeed Azhar, Arun Koyyur, Maju Samuel, David Gregorio Our Organizations: Nvidia, China AMC, Nasdaq, Dow, Chipmaker Micron Technology, Dow Jones, Infrastructure Capital Advisors, NVIDIA, Walmart, New York Stock Exchange, REUTERS, Traders, Fed, PayPal Holdings, Intuit, AMC Entertainment, Hawaiian Electric Industries, Thomson Locations: China, New York, New York City, U.S, Delaware, Maui, Lahaina, Bengaluru

☆ Big tech losses sink Nasdaq, S&P as US Treasury yields rise
▼ + stars: | 2023-08-11 | by ( David French | ) www.reuters.com time to read: +5 min

It was the first time in 2023 that the Nasdaq fell for two straight weeks. The S&P 500 ended the week down 0.3%, with the Nasdaq 1.9% lower. Yield on the two-year U.S. Treasury note , that moves in line with near-term interest rate expectations, climbed to 4.88%. REUTERS/Brendan McDermid//File PhotoMegacap growth and technology stocks have led outsized gains this year in the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX). The S&P 500 posted 4 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 52 new highs and 169 new lows.

Persons: Refinitiv, We've, Jason Betz, Brendan McDermid, Ameriprise's Betz, Rupert Murdoch, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Vinay Dwivedi, David Gregorio Our Organizations: Treasury, Nasdaq, Dow Jones, Federal Reserve, Ameriprise, Inc, Microsoft, Nvidia, Traders, New York Stock Exchange, REUTERS, International Energy Agency . Occidental Petroleum Corp, U.S, News Corp, Thomson Locations: U.S, New York City, JD.com, Bengaluru, New York

☆ Wall Street ends flat, after pop from July inflation data fizzles
▼ + stars: | 2023-08-10 | by ( David French | ) www.reuters.com time to read: +5 min

Stock prices started to sag from late-morning onwards, and bounced between positive and negative territory for much of the afternoon. He noted that while inflation has slowed, a look beyond the headline number revealed that core inflation remained sticky, and as traders parsed the data, the initial positive sentiment became more subdued. A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. On the earnings front, Walt Disney (DIS.N) rose 4.9% after beating Wall Street estimates for quarterly adjusted profit per share. The S&P 500 posted 18 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 58 new highs and 159 new lows.

Persons: Gregg Abella, Mary Daly, Brendan McDermid, Walt Disney, Michael Kors, Tapestry's, Joe Biden, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi, David Gregorio Our Organizations: Disney, Dow, Nasdaq, U.S . Federal, Investment Partners, Management, San Francisco Fed, New York Stock Exchange, REUTERS, Nvidia Corp, Alphabet Inc, Microsoft, Dow Jones, Energy, Wall, Alibaba, Wednesday, Thomson Locations: New York City, U.S, China, Bengaluru, New York

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The consumer price index (CPI) dropped in the world's second-largest economy, the National Bureau of Statistics said, its first decline since February 2021. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data. Declining issues outnumbered advancing ones on the NYSE by a 1.18-to-1 ratio; on Nasdaq, a 1.63-to-1 ratio favored decliners. The S&P 500 posted 16 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 60 new highs and 178 new lows.

Persons: Brendan McDermid, Jason Krupa, Patrick Harker, Gina Bolvin, Wells, Penn Entertainment's, Walt Disney's, Uber, Krupa, Echo Wang, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Penn Entertainment, Dow, Nasdaq, Consumer, Index, Lenox Advisors, New York Federal Reserve Bank, Philadelphia Fed, Bolvin Wealth Management Group, Traders, FedWatch, Wall, Nvidia, Apple, National Bureau of Statistics, Dow Jones, Bank of America, Casino, Walt, Walt Disney's ESPN, NYSE, Thomson Locations: New York City, U.S, Boston, New York, Bengaluru

☆ Wall St ends lower after bank rating cuts spark wider sell-off
▼ + stars: | 2023-08-09 | by ( David French | ) www.reuters.com time to read: +4 min

The S&P 500 Banks index (.SPXBK) has slipped 2.5% year to date, compared with a 17.2% gain by the S&P 500, and the downgrades exposed the fragility of investors' confidence towards financial stocks. The banks index slid 1.1% on Tuesday, while the KBW Regional Banking index (.KRX) dipped 1.4%. Reaction to the bank downgrades pushed up the CBOE Market Volatility index (.VIX), Wall Street's fear gauge, at one point hitting a two-month high. Eight of the 11 major S&P 500 sectors fell. The S&P 500 posted 13 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 46 new highs and 195 new lows.

Persons: Eli Lilly, Moody's, Goldman Sachs, Jason Pride, Brendan McDermid, Bansari Mayur Kamdar, Johann M, David French, Sriraj Kalluvila, Vinay Dwivedi, Richard Chang Organizations: Dow, Nasdaq, Bank of New York Mellon, U.S . Bancorp, Truist, Silicon Valley Bank, Bank of America, Traders, New York Stock Exchange, REUTERS, Dow Jones, Novo Nordisk, Dish Network, United Parcel Service, Thomson Locations: U.S, Silicon, KBW, New York City, China, Denmark, Bengaluru, New York

A partial counterweight to Apple for the S&P 500 and Nasdaq was Amazon.com. Amazon's rise were an 11-point positive for the S&P 500. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. DraftKings' (DKNG.O) shares rose 5.8% after the sports-betting firm raised its fiscal year 2023 revenue outlook. The S&P 500 posted 19 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 54 new highs and 91 new lows.

Persons: dents, jitters, Said Greg Bassuk, Brendan McDermid, Carl Icahn, DraftKings, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: Companies, Apple, Dow, Nasdaq, AXS Investments, Treasury, Labor Department, Reuters, New York Stock Exchange, REUTERS, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York, Ukraine, China, New York City, U.S, Bengaluru

“It’s really relative to just pricing against bond yields”, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis. Eight of the eleven main S&P 500 sectors declined, with more interest rates sensitive Utilities(.SPLRCU) and Real Estate (.SPLRCR) leading losses, dropping 2.3% and 1.4% respectively. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Second-quarter earnings for companies in the S&P 500 are now expected to fall 5% from a year earlier, according to Refinitiv data. The S&P 500 posted 14 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 58 new highs and 88 new lows.

Persons: “ It’s, Tom Hainlin, …, Thomas Barkin, Brendan McDermid, Echo Wang, Shubham Batra, Bansari, Anil D'Silva, David Gregorio Our Organizations: PayPal, Qualcomm, Dow, Nasdaq, Treasury, U.S, Bank Wealth Management, Labor Department, Investors, Richmond Federal, Dow Jones, Traders, New York Stock Exchange, REUTERS, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: Minneapolis, U.S, New York City, New York, Bengaluru

☆ NYSE-parent ICE beats profit estimates on upbeat trading volumes
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

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 PhotoAug 3 (Reuters) - Intercontinental Exchange (ICE.N) on Thursday reported second-quarter profit above Wall Street estimates as higher trading volumes at the New York Stock Exchange parent more than offset weakness in its mortgage technology unit. Revenue from ICE's exchanges segment, its biggest business, rose 9% to $1.09 billion from a year earlier, while the company's mortgage technology segment saw a slump of 16% to $249 million. The results round out an upbeat quarter for the biggest U.S. exchanges as Nasdaq(NDAQ.O) and CME Group(CME.O) also reported a rise in profit last month. On an adjusted basis, ICE reported a profit of $1.43 per share for the quarter ended June 30, above analysts' average estimates of $1.37 a piece, according to Refinitiv data.

Persons: Brendan McDermid, Pritam Biswas, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Intercontinental Exchange, Wall, Nasdaq, CME, ICE, Thomson Locations: New York City, U.S, Bengaluru

☆ Wall Street ends down, investors step back after Fitch US rating cut
▼ + stars: | 2023-08-02 | by ( David French | ) www.reuters.com time to read: +5 min

Fitch was the second major agency to cut the country's rating. Reaction to the news pushed major indexes lower, with the S&P 500 (.SPX) recording its biggest daily percentage drop since April 25. REUTERS/Brendan McDermid/File PhotoThe technology index (.SPLRCT), dropping 2.6%, was also the worst performer of the 11 major S&P sectors, with nine in total ending the day lower. With around two-thirds of the S&P 500 having already reported, 79.9% have posted earnings above analysts' expectations, per Refinitiv I/B/E/S. The S&P 500 posted 12 new 52-week highs and five new lows; the Nasdaq Composite recorded 49 new highs and 111 new lows.

Persons: Fitch, brokerages, Quincy Krosby, Brendan McDermid, LPL's Krosby, Krosby, Emerson, Johann M Cherian, David French, Lewis Krauskopf, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Dow, Nasdaq, Wall, AAA, LPL Financial, Fitch, AA, Nvidia, Apple, Tech, New York Stock Exchange, REUTERS, Amazon.com Inc, Dow Jones, ADP, CVS Health Corp, Devices, Thomson Locations: States, U.S, Charlotte , North Carolina, New York City, America, Bengaluru, New York

☆ From banking giants to lending up-and-comers — here are the world's top 200 fintech companies
▼ + stars: | 2023-08-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +11 min

Statista identified 40 firms as top digital payments companies. While digital payments is often the area that draws most investor buzz, lending generates more money in financial services. Statista identified 25 fintech companies that fall into the category of top alternate lending firms. They include American small business lending firm Biz2Credit, Irish e-commerce lending company Wayflyer, and Latvian loan refinancing startup Mintos. Digital business solutions

Persons: Monzo, there's, Statista, Afterpay, It's, Binance, eToro, Equity crowdfunding, hasn't, Peter Hazlehurst Organizations: JPMorgan —, Orange, Digital, U.S, SEC, European, Education, Equity, Republic, Tech, Federal Reserve, Bank of England, CNBC, Solaris Locations: fintech, Europe, Nigeria, Orange, Africa, Terra, U.S, Cayman Islands, American, Latvian, U.K

☆ SoftBank's Arm Ltd aims upto $70 bln valuation in September IPO - Bloomberg News
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoAug 2 (Reuters) - British chip designer Arm Ltd is targeting an initial public offering (IPO) at a valuation of between $60 billion and $70 billion as soon as September, Bloomberg News reported on Wednesday, citing people familiar with the matter. The roadshow is scheduled to start in the first week of September with pricing for the IPO to come in the following week, Bloomberg said. It was not immediately clear what impact any IPO investment by one or more of those companies would have on Arm's commercial relationships. Reporting by Gursimran Kaur in Bengaluru; Editing by Savio D'Souza, Nivedita Bhattacharjee and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Gursimran Kaur, Savio D'Souza, Nivedita, Sohini Organizations: REUTERS, Bloomberg, SoftBank Group Corp, Nasdaq, Reuters, Intel, AMD, Nvidia, Qualcomm, Thomson Locations: British, U.S, London, Bengaluru

For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2023. The Fed lifted its benchmark overnight interest rate by a widely expected 25 basis points, marking the 11th hike in the U.S. central bank's past 12 policy meetings. As of Wednesday, 77.6% of the 152 companies listed on the S&P 500 (.SPX) that have reported earnings have beaten analysts' expectations as compiled by Refinitiv. Advancing issues outnumbered decliners on the NYSE by a 1.75-to-1 ratio; on Nasdaq, a 1.64-to-1 ratio favored advancers. The S&P 500 posted 29 new 52-week highs and no new lows; the Nasdaq Composite recorded 72 new highs and 92 new lows.

Persons: Brendan McDermid, Dow, Jerome Powell, Goldman Sachs, Angelo Kourfafas, Edward Jones, Brent Schutte, David Bahnsen, Jim Vena, Lance Fritz, Wells Fargo, decliners, Bansari Mayur Kamdar, Johann M, Savio D'Souza, Anil D'Silva, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Boeing, Dow, Nasdaq, Federal, Fed, Northwestern Mutual Wealth Management, Google, NYSE, Bahnsen, Meta, Facebook, Refinitiv, Reuters Graphics Reuters, Dow Jones, Union Pacific, Thomson Locations: New York City, U.S, Bengaluru

☆ Binance, CEO plan to seek dismissal of CFTC complaint
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - Binance and its CEO and founder Changpeng Zhao are planning to seek dismissal of a Commodity Futures Trading Commission (CFTC) complaint accusing the crypto exchange of violating the Commodity Exchange Act and certain related federal regulations. Binance is due to submit its response to the CFTC complaint on July 27 and plans to seek dismissal, according to a court filing on Monday. The CFTC in March sued Binance, the world's biggest crypto exchange, and Zhao for operating what the regulator alleged was an "illegal" exchange and a "sham" compliance program. In its complaint, the CFTC said that from at least July 2019 to the present, Binance "offered and executed commodity derivatives transactions on behalf of U.S. persons" in violation of U.S. laws. The CFTC and Binance did not immediately respond to Reuters' request for comment.

Persons: Changpeng Zhao, Binance, Zhao, Juby Babu, Varun Organizations: Futures Trading Commission, CFTC, Reuters, U.S . Securities, Exchange Commission, SEC, Binance, Justice, Thomson Locations: Bengaluru

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