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  • 09/18/2017 17:33:13

    FBI was wiretapping ex-Trump campaign chairman Manafort as late as this year: report

    Former Trump campaign chairman Paul Manafort was secretly wiretapped by the FBI before and after the presidential election, CNN reported late Monday. The report said the surveillance continued until early this year, a time period when Manafort and President Donald Trump were still communicating, though it was not immediately clear if his conversations with Trump had been captured. CNN said special counsel Robert Mueller's investigative team has been given details of Manafort's intercepted communications. While sources told CNN the evidence may not be not conclusive, FBI investigators were reportedly concerned that Manafort was encouraging Russian meddling in the election. The secret surveillance order was first approved by the Foreign Intelligence Surveillance Act court in 2014, and renewed at some point last year. Earlier this summer, Manafort's home was raided by the FBI and his spokesman subpoenaed by the Mueller investigation. In late August, it was reported that Mueller was working with New York Attorney General Eric Schneiderman in his Manafort investigation to share potential evidence of financial crimes. In a separate report Monday, the New York Times said Mueller's investigators told Manafort during the raid on his house that they planned to indict him.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.

  • 09/12/2017 11:27:34

    Goldman's stock surges after revenue growth target unveiled but some analysts are 'skeptical'

    Shares of Goldman Sachs Group Inc. rallied Tuesday, to provide the biggest boost for Dow Jones Industrial Average , but some Wall Street analysts weren't as enthusiastic as investors about the details of Goldman's outline for growth. The stock climbed $6.29, or 2.8%, in afternoon trade. That added about 43 points to the Dow's price, which was up 63 points at 22,121, above the Aug. 7 record close of 22,118.42. Goldman said earlier it targeted $5 billion in incremental revenue over the next three years, including more than $1 billion from its fixed income, currency and commodities (FICC) trading business, another $1 billion from its investment management business and over $2 billion from its lending and financing efforts. JMP analyst Devin Ryan appreciated the "good detail" around where the biggest opportunities are seen, but characterized the areas of focus as "largely incremental more than transformational." Buckingham Research analyst James Mitchell reiterated his neutral rating, saying while Goldman's revenue growth target was "laudable," he remained "somewhat skeptical," as much of the growth is expected from "challenging markets where rivals are fiercely competing for market share." Goldman's stock has lost 5.3% year to date, while the SPDR Financial Select Sector ETF has rallied 6.7% and the Dow has run up 11.5%.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.

  • 09/11/2017 08:29:26

    Goldman, Apple stocks contribute 50 of Dow's 200-point rally

    The Dow Jones Industrial Average was trading firmly higher on Monday, aided by a pop in shares of Apple Inc., and Goldman Sachs Group. Shares of Goldman , up $4.04., or 1.8%, were contributing about 27 points to the price-weighted Dow . Apple Inc.'s shares added about 22 points, ahead of the Cupertino, Calif.-based tech giant's latest iPhone on Tuesday. Goldman's shares may be tied to a rise in yields, with the 10-year benchmark Treasury note at 2.11% from 2.05% late Friday in New York. Higher yields are bullish for banks' lending models. A $1 move in any Dow component equates to a 6.89-point swing in the Dow. Overall , the market was enjoying a broad-based rally power by the financial sector and technology shares , both leading gains for the S&P 500 index . Most recently, the Dow was up 210 points, or 1%, at 22,008, the S&P 500 was 0.8% higher, while the Nasdaq Composite Index was looking at a gain of 1.2% at 6,433. The rally came in part as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, reviving investor appetite. 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.

  • 08/30/2017 11:41:26

    Goldman's stock delivers 30-point boost to Dow industrials

    The Dow Jones Industrial Average gained some upward thrust Wednesday afternoon, with blue chips scoring a boost from Goldman Sachs. Shares of Goldman Sachs Group Inc. , the world's most prominent investment bank, were up about $4.04, or 1.8%, contributing nearly 30 points to the price-weighted gauge. Each $1 move in the benchmark translates to a 6.84-point swing. Broadly speaking, financials, including Goldman, were benefiting from better-than-expected economic reports, including private-sector job growth at 237,000 in August, well above estimates for 185,000 and an update on U.S. economic growth showing U.S. GDP grew at a 3% pace in the second quarter. Those upbeat reports may support another rate hike for the Federal Reserve before the end of the year, market participants are betting. Higher rates tends to be a boon to a bank's lending models. Shares of J.P. Morgan Chase & Co. were tilting higher, up 0.8%, while a broad gauge of the financial sector, the Financial Select Sector SPDR ETF were the best performer among the S&P 500's 11 sectors early Wednesday. More broadly, the S&P 500 index was up 0.5%, while the Nasdaq Composite Index was trading 1% higher on the day. 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.

  • 08/30/2017 09:07:13

    Goldman Sachs stock delivers a roughly 20-point boost to Dow industrials

    The Dow Jones Industrial Average was trading slightly higher early Wednesday, with blue chips scoring a boost from Goldman Sachs. Shares of Goldman Sachs Group Inc. , the world's most prominent investment bank, were up about $2.83, or 1.3%, contributing about 20 points to the price-weighted gauge. Each $1 move in the benchmark translates to a 6.84-point swing. Broadly speaking, financials, including Goldman, were benefiting from better-than-expected economic reports, including private-sector job growth at 237,000 in August, well above estimates for 185,000 and an update on U.S. economic growth showing U.S. GDP grew at a 3% pace in the second quarter. Those upbeat reports may support another rate hike for the Federal Reserve before the end of the year, market participants are betting. Higher rates tends to be a boon to a bank's lending models. Shares of J.P. Morgan Chase & Co. also were tilting higher, up 0.5%, while a broad gauge of the financial sector, the Financial Select Sector SPDR ETF were the best performer among the S&P 500's 11 sectors early Wednesday. 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.

  • 08/28/2017 06:42:08

    Yum China announces Jacky Lo as chief financial officer

    Yum China Holdings, Inc. has appointed Jacky Lo, a current executive at the company, as chief financial officer, the company said Monday. Lo has worked as interim chief financial officer and treasurer since June 2017. He will take over the CFO position starting Sept. 1. He has also served as controller and principal accounting officer among other positions at the company. Shares of Yum China have fallen 5% in the past three months, while shares of the S&P 500 have gained 1%.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.

  • 08/23/2017 11:09:39

    Brazilian tech coworking space Cubo to quadruple in size

    Latin America's largest hub for technological entrepreneurship, Cubo coworking Itaú, will quadruple its office space in São Paulo, underscoring the growth in technology and mobility solutions activity in the country. Itaú Unibanco Holding SA and venture capital firm Redpoint eventures said Cubo's move to a 12-floor building in São Paulo's financial district will take place by June 2018.

  • 08/14/2017 15:36:25

    BRIEF-ALJ Regional Holdings appoints Brian Hartman as CFO

    ALJ Regional Holdings Inc(ALJJ). * ALJ Regional Holdings Inc(ALJJ) says ‍on Aug 14, appointed Brian Hartman to serve as chief financial officer of co effective August 8 - SEC filing. * ALJ Regional Holdings Inc (ALJJ) - ‍T. Robert Christ, co's previous CFO will continue to serve with co as CFO of co's subsidiary, Carpets N' More​ Source text: Further company coverage:

  • 07/28/2017 09:55:57

    BRIEF-Old Point Financial reports Q2 earnings per share $0.23

    * For Q2 of 2017, net interest income was $7.3 million, an increase of $251,000 from Q1 of 2017 Source text for Eikon: Further company coverage:

  • 07/18/2017 07:31:29

    U.S. stocks open lower after Goldman Sachs results

    U.S. stocks fell in early trading on Tuesday, following disappointing results from Goldman Sachs that raised concerns about how strong the upcoming earnings season could turn out to be. The Dow Jones Industrial Average fell 0.2%, or 47 points, to 21,583, and Goldman was the biggest drag on the blue-chip average, falling 1.1%. The S&P 500 ost 4 points, or 0.2%, to 2,455, with the financial sector down 0.6%. The Nasdaq Composite Index was 12 points lower to 6,302, a decline of 0.2%. On the upside, Netflix Inc. gained 8.7% and hit a record a day after it reported larger-than-expected subscriber growth. Despite the declines on the day, major indexes continue to trade within striking distance of record levels.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.

  • 07/07/2017 07:10:56

    Financial stocks rise as upbeat jobs data helps support Treasury yield gains

    Financial stocks were broadly higher Friday, as a rise in Treasury yields following data showing the economy added more jobs than expected provided a boost. The SPDR Financial Select Sector ETF rose 0.5% in premarket trade. Among some of ETF's more heavily weighted components, shares of Bank of America Corp. climbed 0.9%, J.P. Morgan Chase & Co. gained 0.9%, Goldman Sachs Group Inc. tacked on 0.7%, Citigroup Inc. advanced 0.8% and Wells Fargo & Co. added 0.4%. The yield on the 10-year Treasury note rose 1 basis point to 2.380% toward a two-month high, after data showing nonfarm payrolls increased by 222,000 in June, beating expectations of a 180,000 increase. A rise in longer-term yields can help boost banks' profits by increasing the spread they earn between longer-term assets, such as loans, and shorter-term liabilities. The financial ETF has gained 7.0% year to date through Thursday, while the S&P 500 has advanced 7.6%.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.

  • 07/05/2017 12:00:28

    Fed debating when to unwind $4.5 trillion in bond holdings

    The Federal Reserve is figuring out when to start unloading much of its $4.5 trillion in bond holdings — a major turning point for an economy still healing from the 2008 financial crisis.

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