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  • 02/21/2018 13:39:56

    Stock-market rally vaporizes as 10-year yield climbs to 2.95%, dollar strengthens

    A afternoon rally for the Dow Jones Industrial Average melted on Wednesday as Wall Street struggled to interpret minutes from the Federal Reserve's January meeting. The Dow was up 39 points, or 0.1%, at 24,999, eroding what had been a more than 300-point rally in blue chips in the wake of the release of minutes at 2 p.m. Eastern Time. The S&P 500 index was up 7 points, or 0.3%, but had been up 1.2% earlier in the session, while the Nasdaq Composite Index climbed 0.6% at 7,276. A deflation of the brisker buying sentiment in stocks following meeting minutes from the late-January gathering of the Federal Open Market Committee was attributed in part to a climb in yields for the 10-year Treasury note to a session high, and a four-year high, at 2.95%, while the dollar, as measured by the ICE U.S. Dollar Index also picked up steam up 0.4% at 90.09. Minutes from the Jan. 30-31 FOMC meeting showed that officials saw a stronger economy than at the end of 2017 and that more rate hikes were in the offing. The strengthening "increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate." To convey this message, officials altered their statement to point to "further gradual increases," according to the minutes. However, the Fed minutes don't incorporate recent signs of rapidly rising inflation, which could make the Fed more inclined to hike rates faster than the three that Wall Street is forecasting, some market participants speculated. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/21/2018 12:50:24

    Dow up about 200 points after Fed minutes, with stocks drifting near session highs

    The Dow Jones Industrial Average Wednesday afternoon was rallying after the market digested minutes from the Federal Reserve's most recent policy gathering. The Dow Jones Industrial Average jumped 190 points, or 0.8%, to 25,151, the S&P 500 index climbed 0.7% at 2,736, while the technology-laden Nasdaq Composite Index , a proxy for risk appetite on Wall Street, climbed 1.1% to 7,308. Minutes from the Jan. 30-31 Federal Open Market Committee meeting showed that officials saw a stronger economy than at the end of 2017 and that more rate hikes were in the offing. The strengthening "increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate." To convey this message, officials altered their statement to point to "further gradual increases," according to the minutes. However, the Fed minutes don't incorporate recent signs of rapidly rising inflation, which could make the Fed more inclined to hike rates faster than the three that Wall Street is forecasting, some market participants speculated. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/21/2018 12:15:22

    Dow jumps 240 points after Fed minutes, with stocks drifting near session highs

    The Dow Jones Industrial Average Wednesday afternoon was trading near its highs of the session after the market digested minutes from the Federal Reserve's most recent policy gathering. The Dow Jones Industrial Average jumped 261 points, or 1.1%, to 25,242, the S&P 500 index climbed 1.1% at 2,746, while the technology-laden Nasdaq Composite Index , a proxy for risk appetite on Wall Street, climbed 1.4%. The minutes from the Fed's January convention appeared to suggest that the central bank would be likely to move gradually to normalize interest-rate policy from ultralow levels in order to avoid upending the broader market. Minutes from the Jan. 30-31 Federal Open Market Committee meeting showed that officials saw a stronger economy than at the end of 2017 and that more rate hikes were in the offing. The strengthening "increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate." To convey this message, officials altered their statement to point to "further gradual increases," according to the minutes. However, the Fed minutes don't incorporate recent signs of rapidly rising inflation, which could make the Fed more inclined to hike rates faster than the three that Wall Street is forecasting, some market participants speculated. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/07/2018 13:35:45

    Swiss Re in talks with SoftBank over minority stake sale

    Swiss Re is in preliminary discussions with Japan's SoftBank Group (SFTBF) on a potential minority investment in the Swiss reinsurer, the Zurich-based group said on Wednesday. The statement followed a report in the Wall Street Journal that the two groups were in advanced talks on a deal that could be worth $10 billion or more.

  • 02/07/2018 11:49:28

    Ex-State Street executive faces new U.S. fraud charge

    U.S. prosecutors on Wednesday brought a new charge against a former State Street Corp executive accused of participating in a scheme to defraud clients by charging them secret commissions on billions of dollars of trades.

  • 02/06/2018 19:54:25

    Steve Wynn resigns as CEO of Wynn Resorts amid sexual misconduct allegations

    Steve Wynn has resigned as chief executive and chairman of Wynn Resorts Ltd. , the company said in a statement Tuesday night. Matt Maddox, the company's president, will take over as CEO. "It is with a collective heavy heart, that the board of directors of Wynn Resorts today accepted the resignation of our founder, CEO and friend Steve Wynn," non-executive director of the board Boone Wayson said in the statement. Last month, the Wall Street Journal reported the casino magnate had a long history of sexual misconduct allegations against him, and had pressured his employees into sex acts. Wynn resigned as finance chairman of the Republican National Committee following the report. "In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity," Wynn said in a statement Tuesday. "I have reached the conclusion I cannot continue to be effective in my current roles." Shares of Wynn Resorts have fallen about 20% since the allegations emerged in late January.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/01/2018 15:18:03

    CBS and Viacom form special committees to evaluate possible combination

    CBS Corp. and Viacom Inc. said on Thursday that they have each set up special committees to evaluate a potential recombination. Shares of Viacom were down 1.5% after hours, while CBS shares were down less than 1%. "There can be no assurances that this process will result in a transaction or on what terms any transaction may occur. Neither CBS nor the committee intends to comment further, until the process is completed," the company said in a news release. Viacom released an identical statement shortly after, save for the name of the company. The move comes as Shari Redstone, vice-chair of both CBS and Viacom, has pushed for the two companies to merge. The Wall Street Journal reported in January that Redstone wanted new members on the CBS board to spark new merger talks with Viacom. Shares of Viacom are down more than 20% in the last 12 months and CBS shares are down nearly 9%. By comparison the S&P 500 index is up roughly 24% and the Dow Jones Industrial Average is up more than 31%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 01/31/2018 13:15:46

    Wynn Resorts' stock falls, as Massachusetts' gaming regulators give update on investigation

    Shares of Wynn Resorts Ltd. (WYNN) tumbled 3.1% in afternoon trade Wednesday, erasing earlier gains of as much as 3.3% at their intraday high, after the Massachusetts Gaming Commission provided an update to its review of the casino operator's license in the state. The review comes after a report in The Wall Street Journal alleging Wynn's Chief Executive Steve Wynn has a long history of pressuring employees to perform sex acts. Karen Wells, director of the MGC's investigations and...

  • 01/30/2018 23:17:38

    Media reports say Nevada regulators open misconduct inquiry into casino mogul Steve Wynn

    (Reuters) - Nevada state regulators have opened an investigation into sexual misconduct accusations leveled against Las Vegas casino magnate Steve Wynn by former and current employees in a Wall Street Journal article last week, media reports said on Tuesday.

  • 01/30/2018 14:25:04

    Shutterfly shares jump after company tops targets, unveils deal to buy Lifetouch

    Shutterfly Inc. shares rose more than 10% late Tuesday after the online photo service company said it had agreed to buy privately held Lifetouch, which specializes in school portraits, for $825 million in cash. Shutterfly expects the acquisition to result in about $935 million of additional net revenues, and about $100 million of additional adjusted earnings in the year following the deal's closing. In a separate statement, Shutterfly reported fourth-quarter earnings that beat Wall Street expectations. The company said it earned $111.7 million, or $3.37 a share, in the quarter, compared with $2.63 a share in the year-ago period. Adjusted for one-time items but excluding tax-reform benefits around $9 million, the company earned $102.8 million, or $3.11 a share, in the quarter, compared with $2.63 a share a year ago. Revenue rose 6% to $593.8 million, from $561 million a year ago. Analysts polled by FactSet had expected the company to report adjusted earnings of $2.88 a share on sales of $556 million. Shares ended the regular session Tuesday up 0.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 01/15/2018 14:56:42

    Citi to raise pay for women and minorities in U.S., UK, Germany

    (Reuters) - Citigroup Inc will increase compensation for women and minorities to bridge pay gaps in the United States, the United Kingdom and Germany, as part of its annual pay process this year, the Wall Street bank said on Monday.

  • 01/06/2018 13:50:17

    SEC probing Kushner Cos use of wealthy investor visas: WSJ

    - The real estate company of Jared Kushner, President Donald Trump's senior adviser and son-in-law, is being investigated by the U.S. Securities and Exchange Commission for its use of a federal program that grants visas to wealthy foreigners investing in the United States, the Wall Street Journal reported on Saturday.

  • 01/05/2018 15:23:27

    BRIEF-State Street Global Advisors Announces Impact Of Receiving Settlement Payment

    State Street Corp(STT): * STATE STREET GLOBAL ADVISORS ANNOUNCES IMPACT OF RECEIVING SETTLEMENT PAYMENT. * SPDR EXCHANGE TRADED FUND - RECEIVED PAYMENT AS AUTHORIZED CLAIMANT FROM A CLASS ACTION SETTLEMENT RELATED TO MEDICINES COMPANY​ Source text for Eikon: Further company coverage:

  • 12/20/2017 14:46:46

    Who Does The Tax Plan Really Benefit?

    The corporate tax rate will fall for all businesses, but some provisions in the bill will especially benefit certain industries — manufacturers, real estate companies, Wall Street and multinationals.

  • 12/11/2017 15:22:25

    Comcast drops out of Fox bidding, Disney reportedly still in talks

    Comcast Corp. is no longer bidding for entertainment assets from 21st Century Fox Inc. , according to a Monday afternoon report, which could leave Walt Disney Co. as the sole bidder remaining. "We are no longer engaged in the review of those assets," Comcast said in a statement to some news organizations. "We never got the level of engagement needed to make a definitive offer." Disney and Comcast were "in active talks" in negotiations for parts of the Fox empire that includes the movie and television studios and some cable networks, [l: The Wall Street Journal reported last week, adding that the Murdoch family hoped to make a decision on a transaction by year's end. Sony Corp. and Verizon Communications Inc. have also reportedly shown interest in the assets, the Journal reported. Reuters, which first reported the Comcast statement, said Monday that Disney and Fox were still in negotiations and could reach a deal this month. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 12/10/2017 11:37:38

    Hospital operators in merger talks to create U.S. industry leader -WSJ

    Ascension Health and Providence St. Joseph Health are in discussions about a merger that would create the largest hospital chain in the United States, the Wall Street Journal reported on Sunday, citing people familiar with the situation. A deal between the two non-profits would give the combined entity 191 hospitals in 27 states and annual revenue of $44.8 billion, the paper said.

  • 11/27/2017 23:04:55

    Global crypto-currency crackdown sparks search for safe havens

    When U.S. entrepreneur Bharath Rao looked around for the best place to raise money for his crypto-currency derivatives trading business, the United States did not make his list. Rao, a San Diego-based technology veteran who has worked for major Wall Street banks, is not alone.

  • 11/24/2017 11:18:05

    London police find no trace of gunfire in shopping district

    Two London underground train stations reopened Friday evening after police said they didn't find evidence that shots had been fired in a busy shopping district. The Metropolitan Police shortly after 4:30 p.m. local time began responding to "numerous" reports of gunfire on Oxford Street and at the Oxford Circus Tube station. "To date police have not located any trace of any suspects, evidence of shots fired or casualties," the Met said in a statement. "Our response on #OxfordStreet has now been stood down," the police said in a follow-up statement on Twitter. The Oxford Circus and the Bond Street Tube stations are back in operation. The British Transport Police said there was one report of a woman sustaining a minor injury as she exited the Oxford Circus station. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 11/24/2017 10:38:55

    London police respond to reports of gunfire in busy shopping district

    London police on Friday said they were responding to reports of shots fired in the city's busy shopping district and at an underground train station. There were no reports of casualties, the Metropolitan Police said in a statement. . "Police have responded as if the incident is terrorist related," with both armed and unarmed officers on the scene, the Met said. Reports came in shortly after 4:30 p.m. local time about shots fired on Oxford Street and at the Oxford Circus Tube station. "Please continue to avoid the Oxford Street and Regent Street area. If you are in the area, go into a building and stay inside until further notice," British Transport Police said on Twitter. The Oxford Circus and Bond Street tube stations were closed. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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