Trial begins for financial executive in insider trading case tied to taking Trump media firm public
An insider trading trial has begun for a financial executive charged with enabling his boss and others to make millions of dollars illegally on news that an acquisition firm was taking former President Donald Trump's media company public.
Delaware judge refuses to fast-track certain claims in post-merger lawsuit against Trump Media
A Delaware judge has granted a request by attorneys for Donald Trump and Trump Media & Technology Group, parent company of his Truth Social platform, to slow down a merger-related lawsuit filed by two cofounders of the company.
Trump's social media company gains in its first day of trading on Nasdaq
Shares of Donald Trumpโs social media company rose about 16% in the first day of trading, boosting the value of Trumpโs large stake in the company as well as the smaller holdings of fans who purchased shares as a show of support for the former president.
Zoom to pay $85M for privacy miscues at start of pandemic
Zoom has agreed to pay $85 million to settle a lawsuit alleging allegations its videoconferencing serviceโs weak privacy controls opened too many peepholes into its usersโ personal information and made it too easy to disrupt their meetings during the early stages of the pandemic.
Asia stocks follow Wall Street down on renewed virus worries
FILE - In this Nov. 5, 2020 file photo, a sign for Wall Street is carved in the side of a building. Banks and energy stocks are leading major U.S. indexes mostly lower in the early going on Wall Street, while gains for some Big Tech companies like Microsoft nudged the Nasdaq slightly higher. (AP Photo/Mark Lennihan, File)BEIJING โ Asian stock markets followed Wall Street lower Wednesday after European governments extended anti-coronavirus lockdowns, clouding the outlook for economic recovery. Overnight, Wall Street gave up most of the previous day's gains as technology, industrial and bank stocks fell. On Wall Street, the benchmark S&P 500 fell 0.8% on Tuesday to 3,910.52.
Asian markets follow Wall St lower after Fed bump
Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields pulled stocks lower, dampening enthusiasm driven by the Federal Reserve's promise of low interest rates. (AP Photo/Eugene Hoshiko)BEIJING โ Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields dampened buying enthusiasm driven by the Federal Reserve's promise of low interest rates. Overnight, Wall Street's benchmark S&P 500 index closed down 1.5%, putting it on track for its first weekly loss in three weeks. The S&P 500 fell to 3,915.46. Bank stocks did well because investors bet higher interest rates would translate into higher profits.
Wall Street closes higher after Fed says will keep rates low
Shares are opening mostly lower on Wall Street, Wednesday, March 17, 2021, as investors cautiously await the U.S. central banks latest assessment on the economy. (AP Photo/Frank Franklin II, File)TOKYO โ Stocks closed higher Wednesday, reversing an early slide after the Federal Reserve reassured Wall Street that it expects to keep its key interest rate near zero through 2023. Wall Street has been anxious about the potential for higher inflation to drive up bond yields further and has been looking for signs that the central bank shares its concerns. After Powell spoke stocks gradually pivoted higher and bond yields fell. AdAt least some Fed officials appear to be closer to tightening up the central bankโs ultra-low-rate policies.
Stocks mostly shake off a weak start, edge to more records
Stocks are off to a mixed start on Wall Street as another sharp rise in bond yields unsettled investors. (AP Photo/Mark Lennihan, File)BANGKOK โ A late-afternoon burst of buying helped nudge several U.S. stock indexes to all-time highs Friday, despite a pullback in Big Tech companies as bond yields headed higher. The bond market was the dominant force in pulling tech stocks mostly downward, because as yields push interest rates higher, they make high-flying stocks look expensive. Investors had sold off stocks late last week after that yield crossed above the 1.60% mark. But as the pandemic eases this year, and bond yields rise, more expensive stocks such as these have struggled.
Asian shares mixed after stimulus lifts Dow, S&P to records
Stocks were mixed in Asia on Friday after broad gains lifted several major indexes to all-time highs on Wall Street. (AP Photo/Lee Jin-man)Stocks were mixed in Asia on Friday after broad gains lifted several major indexes to all-time highs on Wall Street. Tokyoโs benchmark rose 1% while Chinese indexes slipped as investors cashed in on recent surges in share prices. Traders also bid up shares in smaller stocks, pushing the Russell 2000 index up 2.3% to 2,338.54. AdThe stimulus coupled with ultra-low interest rates are expected to help charge growth as industries bounce back from pandemic downturns, analysts say.
Asian shares advance as yields, inflation fears moderate
Shares rose in Tokyo, Shanghai and Hong Kong but edged lower in Sydney. On Wall Street, energy and financial stocks rose while Big Tech shares declined. The S&P 500 added 0.6% and the Dow Jones Industrial Average hit a record high, though tech stocks pulled the Nasdaq slightly lower. But core inflation, excluding food and energy, posted a much smaller 0.1% gain, easing fears that the inflation might surge as the economy recovers from the pandemic. The fall in bond prices, which are inversely related to yields, attracted investors reluctant to pay high prices for stocks, especially tech stocks that looked most expensive.
Asian stocks follow Wall St higher after tech rally
(AP Photo/Koji Sasahara)TOKYO โ Asian stock prices followed Wall Street higher on Wednesday following a rally for major tech companies. Wall Street's benchmark S&P 500 index closed up 1.4%, led by gains for Apple, Amazon and other tech majors. A reversal in bond market trends at least temporarily sent investors back to companies they hope will thrive after the coronavirus pandemic ends. The Dow Jones Industrial Average, which is weighted less toward tech, rose 0.1% to 31,832.74. The fall in bond prices drew investors who didn't want to pay high prices for stocks, especially tech stocks that looked most expensive.
A bumpy day leaves stocks mostly lower; bond yields ease
Stocks wobbled between small gains and losses on Wall Street Friday as rising technology stocks offset a slide in banks and energy companies. (Courtney Crow/New York Stock Exchange via AP)BANGKOK โ A choppy day on Wall Street ended with stocks mostly lower Friday, helping push the S&P 500 to its second straight weekly loss. Investors continued to watch the bond market, where Treasury yields eased lower, as well as Washington, where Congress is expected to vote on President Joe Biden's stimulus package. Rising yields can make stocks look less attractive relative to bonds, which is why every tick up in yields has corresponded with a tick down in stock prices. Technology stocks have been impacted more than the broader market by the rise in bond yields.
Asian shares sink after tech rout pulls Nasdaq 3.5% lower
The tech-heavy Nasdaq shed 3.5% on Thursday while the S&P 500 dropped 2.4%, led lower by heavy selling in technology and communications companies. That move raised the alarm on Wall Street that yields, and the interest rates they influence, will move higher from here. The Shanghai Composite index lost 1.5% to 3,530.08. AdThe S&P 500 index fell 96.09 points to 3,829.34. The Russell 2000 index of smaller company stocks lost 84.21 points, or 3.7%, to 2,200.17.
Asian shares mostly higher amid coronavirus vaccine optimism
Asian shares were mostly higher on Tuesday despite a sell-off in technology companies on Wall Street. (AP Photo/Kin Cheung)TOKYO โ Asian shares were mostly higher Tuesday despite a sell-off of shares in technology companies on Wall Street. Although the world's economies have been battered by the coronavirus pandemic, the deployment of COVID-19 vaccines is raising hopes for a recovery from the pandemic. โEquity investors are finally paying attention to the bond market,โ said Mike Zigmont, director of trading and research at Harvest Volatility Management. In energy trading, U.S. benchmark crude rose 76 cents to $62.46 a barrel in electronic trading on the New York Mercantile Exchange.
Asia stocks follow Wall St. down after weaker US jobs data
(AP Photo/John Minchillo)BANGKOK โ Asian stock markets followed Wall Street lower on Friday after disappointing U.S. jobs and economic data. Overnight, Wall Street's benchmark S&P 500 index lost 0.4% for its third straight daily decline. AdThe Shanghai Composite Index lost 0.9% to 3,641.63 and the Nikkei 225 in Tokyo sank 1% to 29,947.42. On Wall Street, the S&P 500 fell to 3,913.97. Congress is conducting a hearing on the recent volatility of companies caught in a tug-of-war between Wall Street institutional investors betting against the companies and the online retail investors who pushed shares higher.
S&P 500 closes wobbly week at new record high
The S&P 500 rose 0.5% after spending most of the day wavering between small gains and losses. The S&P 500 rose 18.45 points to 3,934.83, while the Dow gained 27.70 points, or 0.1% to 31,458.40. Despite a week of mostly minor gains and losses for the broader market, the S&P 500 notched its second straight weekly gain. Roughly 75% of companies in the S&P 500 have released results, showing overall growth of 2.8%, according to FactSet. Genetic analytics company Illumina jumped 11.9% for the biggest gains in the S&P 500 following its encouraging earnings report.
Stock indexes wobble as investor caution offsets optimism
AdAlthough another day of choppy trading on Wall Street left the major U.S. stock indexes nearly flat Thursday, the S&P 500 and Nasdaq composite still hit all-time highs. The S&P 500 rose 0.2% to 3,916.38. Wall Street is still digesting solid corporate earnings and signs of a decline in new virus cases. The index is up 15.7% so far this year, while the S&P 500 is up 4.3%. Molson Coors fell 9.1% for the biggest decline in the S&P 500 after its profits fell short of expectations because business shutdowns in Europe hurt sales.
Asian stocks advance after Wall St ends winning streak
In this photo provided by the New York Stock Exchange, traders work on the floor, Tuesday, Feb. 9, 2021. Stocks were slightly lower in early trading on Tuesday, after the major stock market indexes hit record highs the day before. (Courtney Crow/New York Stock Exchange via AP)BEIJING โ Asian stock markets rose Wednesday after Wall Street broke a six-day winning streak. The Shanghai Composite Index rose 0.7% to 3,629.54 while the Nikkei 225 in Tokyo advanced just under 0.1% to 29,531.48. The Nasdaq rose 0.1% to 14,007.70.
Tokyo trading closed for holiday, other Asian indexes mixed
FILE - In this Dec. 30, 2020, file photo, an employee tolls the closing bell during a ceremony of the last trading day at the Tokyo Stock Exchange in Tokyo. Major Asian bourses were closed for the New Year's holidays Thursday, Dec. 31, while the handful that remained open was mixed. (JPX via AP)Major Asian bourses were closed for the New Year's holidays Thursday while the handful that remained open was mixed. Trading was closed in Tokyo and South Korea. The Tokyo exchange marked the end of trading for the year Wednesday, with the Nikkei falling 0.5%, and trading will not reopen until Monday next week.
Asian shares climb on hopes US to finally get more stimulus
Asian shares are higher Thursday, Dec. 17, 2020 on hopes the U.S. Congress may finally deliver fresh aid to help businesses and families weather the pandemic. (AP Photo/Koji Sasahara)Shares were mostly higher in Asia on Thursday, buoyed by hopes the U.S. Congress may finally deliver fresh aid to help American businesses and families weather the pandemic. Benchmarks rose in Tokyo, Hong Kong and Shanghai but fell in South Korea. Congressional leaders appeared late Wednesday to be on the brink of a COVID-19 economic aid package that would extend help to individuals and businesses and ship coronavirus vaccines to millions. Negotiators were working on a $900 billion package that would revive subsidies for businesses hit hard by the pandemic, help distribute new vaccines, fund schools and renew soon-to-expire jobless benefits.
Shares mostly lower in Asia after tech-led drop on Wall St
A man wearing a face mask to protect against the coronavirus walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, Dec. 10, 2020. Stocks were mostly lower Thursday in Asia after weakness in technology companies shares led an overnight decline on Wall Street. (AP Photo/Kin Cheung)Stocks were mostly lower Thursday in Asia after weakness in technology companiesโ shares led an overnight decline on Wall Street. Benchmarks fell in Tokyo, Hong Kong and Sydney but edged higher in Shanghai. Hong Kong's Hang Seng index slipped 0.5% to 26,364.51 and the Nikkei 225 index in Tokyo gave up 0.3% to 26,735.63.
Asian shares extend gains after more Wall Street records
Asian shares logged strong gains on Wednesday after another round of record highs for major indexes on Wall Street. (AP Photo/Koji Sasahara)BEIJING โ Asian shares logged strong gains on Wednesday after another round of record highs for major indexes on Wall Street. Shanghai edged lower after China reported that its consumer price index slipped 0.5% in November compared with a year earlier. It noted that core consumer price inflation, excluding volatile food and energy prices, was steady at 0.5% from a year earlier. Tokyo's Nikkei 225 index gained 1% to 26,743.52, while the Hang Seng in Hong Kong added 1.2% to 26,609.17.
Nasdaq stock exchange requests diversity upgrade
DETROIT โ The Nasdaq stock exchange is seeking U.S. authority to require more diversity in the boardrooms of Nasdaq-listed companies, or for those companies to explain why they can not. The proposal filed with the U.S. Securities and Exchange Commission on Tuesday, if approved, would require all companies listed on the exchange to publicly disclose consistent, transparent diversity statistics about their board of directors. It would require most Nasdaq-listed companies to have, or explain why they donโt have, at least two diverse directors. This includes having one board member who self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ. Foreign companies and smaller reporting companies would have additional flexibility.
Nasdaq seeks mandatory rule on board diversity for companies
The Nasdaq stock exchange is seeking U.S. authority to require more diversity in the boardrooms of Nasdaq-listed companies, or for those companies to explain why they can not. According to the 2018 Board Diversity Census from the Alliance for Board Diversity and the consulting firm Deloitte, women held just 22% of Fortune 500 seats in 2018, compared to 20% a year earlier and 16 percent in 2010. Nasdaq said the proposal's goal is to give stakeholders a better understanding of a company's current board composition and to bolster investor confidence that all listed companies are considering diversity when the look for new board members. Companies listed on the Nasdaq Global Select Market and Nasdaq Global Market will be expected to have two diverse directors within four years of listing rule approval. Companies listed on the Nasdaq Capital Market will be expected to have two diverse directors within five years of the SECโs approval.
Stocks rise on Wall Street as S&P 500 hits record high
(AP Photo/Ahn Young-joon)BEIJING โ The S&P 500 rose to a record high Friday as investors continue to look forward to the distribution of a COVID-19 vaccine and relief for the global economy. The benchmark index rose 8.70 points, or 0.2%, led by gains in technology companies, and closed at an all-time high of 3,638.35. The Nasdaq also closed at a record helped by gains in Apple, Tesla, Zoom and other tech companies. AstraZeneca shares were flat. European markets rose.
Asian stocks mixed after Wall Street election gains
Asian stock markets were mixed Friday after Wall Street rose amid protracted vote-counting following this week's U.S. elections. (AP Photo/Eugene Hoshiko)Asian stock markets were mixed Friday after Wall Street rose amid protracted vote-counting following this week's U.S. elections. On Wall Street, the benchmark S&P 500 index closed 1.9% higher. On Wall Street, the S&P 500 rose to 3,510.45. Theyโre also the five biggest stocks in the S&P 500 by market value.
Asia tracks Wall St rally as markets shrug at election limbo
The benchmark index had gained 3.5% before the market lost some of its momentum toward the end of the day. The Shanghai Composite index rose 0.6% to 3,297.34. But after a tumultuous overnight session in global markets where Trump prematurely declared victory, markets acted as if the occupant of the White House might be secondary. It may take days for a winner of the White House to emerge, and professional investors say theyโre bracing for sharp market swings in the meantime. Stocks tend to rise regardless of which party controls the White House.
Asian shares gain, cheered by US rally on hopes for stimulus
Asian shares advanced Friday, cheered by a modest rally on Wall Street and rising hopes for fresh stimulus for the U.S. (AP Photo/Hiro Komae)Asian shares advanced Friday, cheered by a modest rally on Wall Street and rising hopes for fresh stimulus for the U.S. economy. Despite signs of a global economic rebound in the third quarter, worries remain the upturn may be running out of steam. House Democrats said they are paring back their proposal for a new stimulus package in an attempt to jump-start negotiations with the Trump administration. On Wall Street, the S&P 500 rose 0.3% to 3,246.59 after swinging between a loss of 0.9% and a gain of 1.3%.
Wall Street stocks open higher, following gains overseas
Asian stock markets rose Monday after Wall Street hit a new high despite lingering unease about a possible second wave of coronavirus infections. (AP Photo/Eugene Hoshiko)BEIJING Wall Street is following overseas markets higher, adding to four straight weeks of gains for the S&P 500 and the Nasdaq. European markets were broadly higher and markets closed higher in Asia. On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were up 0.6%. Stocks have powered higher despite signs economic growth in the United States and Europe might be weakening.
Zoom suffers outage as students start classes online
FILE - This April 18, 2019, file photo shows a sign for Zoom Video Communications ahead of the company's Nasdaq IPO in New York. (AP Photo/Mark Lennihan, File)NEW YORK Zoom is experiencing partial outages during the first day of school for thousands of students who are relying on the video conferencing technology to connect with educators. Grade schools, high schools and universities are relying on Zoom and competing technologies like Microsoft Teams to reduce the chance of infection during the pandemic. Zoom Video Communications became a familiar tool to millions of new users after the spread of COVID-19 made face-to-face meetings risky. It suffered some growing pains during the early months of the pandemic, such as zoombombers " who crashed meetings, but successfully went public in April.
Asian shares turn lower as virus caseloads surge
Shares were mixed in Asia on Wednesday, with Australias benchmark down more than 1% on reports of a sharp rise in coronavirus cases in the Melbourne area. (AP Photo/Eugene Hoshiko)MITO Shares were mostly lower in Asia on Wednesday, as governments in the region reported surging numbers of confirmed coronavirus cases. Shares rose in Taiwan, Kuala Lumpur and Jakarta but fell in Singapore and Bangkok. On Wall Street, shares edged higher overnight despite a late stumble that nearly wiped out the markets gains for the day. Treasury yields were mostly lower and the price of gold rose 1.5%, signs of continuing caution in the market.
Asian shares mostly higher, tracking Wall St rally
A man wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, June 9, 2020. Asian shares were mixed on Tuesday after the Nasdaq hit a record high. (AP Photo/Vincent Yu)TOKYO Shares were mostly higher in Asia on Tuesday after the Nasdaq composite touched a fresh record as enthusiasm about reopening the economy pushed Wall Street still higher. Australia's S&P/ASX 200 jumped 2.4% to 6,144.90, tracking Wall Street's recent gains. Brent crude oil rose 34 cents to $41.14 a barrel.
Asian shares mixed amid cautious mood, eyes on trade talks
Stocks are opening broadly higher on Wall Street as hopes continued to grow that the U.S. and China were moving closer to a deal on trade. Market focus this week will still lies on the U.S.-China trade talk, and updates in Hong Kong. On Wall Street, health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. Hopes that the U.S. and China can make progress in their latest push for a trade deal have also helped keep investors in a buying mood. The S&P, Dow and Nasdaq are now all up by more than 20% for the year.
Asian shares mixed amid cautious mood, eyes on trade talks
Asian shares are mixed Monday in a cautious mode after Wall Street closed out the week with milestones as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs. On Wall Street, health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. The S&P 500 index rose 23.83 points, or 0.8%, to 3,120.46. The Dow Jones Industrial Average gained 222.93 points, or 0.8%, to 28,004.89. The S&P, Dow and Nasdaq are now all up by more than 20% for the year.
US-China trade deal hopes lift stocks on Wall Street
Stocks moved higher in early trading on Wall Street and headed for records on Friday after U.S. officials said they were making progress in the latest push for a trade agreement with China. Investors hope the worlds two biggest economies can make a deal before new and more damaging tariffs take effect next month. The latest signs of progress in trade talks put investors in a buying mood. KEEPING SCORE: The S&P 500 index rose 0.3% as of 10 a.m. Eastern time. The Russell 2000 index of smaller company stocks rose 0.4%.
Stocks edge lower as investors listen for trade deal clues
NEW YORK, NY U.S. stocks fell in early trading Friday as investors grew more uncertain about prospects for a trade deal between the U.S. and China. KEEPING SCORE: The S&P 500 index fell 0.1% as of 10:16 a.m. Eastern time. WEEK OF RECORDS: The S&P 500 had another solid week of record-setting days. The Dow also had a solid week and reached a record of 27,674.80 on Thursday. ROARING MOUSE: Walt Disney rose 4.4% after handily beating Wall Street's fiscal fourth-quarter profit forecasts on surging revenue because of films including "The Lion King" and "Toy Story 4".
Trade hopes push US stock indexes toward more record highs
The S&P 500 is heading for its second record-setting day this week. The Dow Jones Industrial Average and the Nasdaq are on pace for their third day of record highs. The sector is prone to swings in trade relations as many of those companies rely on China for sales and supply chains. KEEPING SCORE: The S&P 500 index rose 0.6% as of 10 a.m. Eastern time. More than 85% of companies within the S&P 500 have reported so far.
Stocks wobble in early trading, but remain near record highs
NEW YORK, NY U.S. stocks wobbled between small gains and losses in early trading Tuesday as investors paused following several record-setting rallies. The Nasdaq and the Dow Jones Industrial Average were also trading near the record highs they set on Monday. The Russell 2000 index of smaller company stocks rose 0.4%. INTEREST RATES: The Federal Reserve is expected to keep interest rates low after making its third cut this year. Analysts are already looking ahead to 2020 and are forecasting solid growth.
Stocks head for another set of records as rally continues
The Dow Jones Industrial Average was on pace to beat its record high close set in July. The S&P 500 index is aiming for its fourth record high in less than two weeks and the Nasdaq was also set to beat the record it set on Friday. The Dow Jones Industrial Average rose 139 points, or 0.5%, to 27,486 and on track to beat its record high set on July 15. The Nasdaq rose 0.6% and was also on track to beat its latest record set on Friday. The Russell 2000 index of smaller company stocks rose 0.5%.
Rally in US stocks has begun to fizzle out
Spencer Platt/Getty Images(CNN) - The Dow and U.S. stocks, which rallied at the start of 2019, were set to close the third quarter on a flat note. Stocks opened modestly higher on Monday but have been on a downward trend. The major indexes just recorded two down weeks in a row, and the Nasdaq Composite is on track to finish the quarter in the red. Chinese officials are expected in Washington in early October for the next round of trade talks, but investors are wary. For the quarter, Dow rose a modest 1.1%, after rising 2.6% in the prior quarter and 11% in the first three months of 2019.
Madewell, J Crew's denim brand, files for IPO
Spencer Platt/Getty Images(CNN) - Madewell, J Crew's fast-growing denim brand, plans to split from its struggling parent company and hit the public market. While J Crew is known for selling preppy clothes at high prices, Madewell launched in 2006 as a boutique denim jeans' brand with tops and jackets that shoppers wear with jeans. As of August, Madewell company operated 132 small US stores, primarily in upscale shopping malls and on city street corners. A successful Madewell IPO could help J Crew pay down a "meaningful portion" of its debt. Libby Wadle, a veteran J Crew executive who has been involved closely with Madewell, will continue as the brand's chief executive.
Stocks flirt with record highs as US-China tension eases
The S&P 500 was within striking distance of a new all-time high while the Dow is inching closer to a record as well. It's been a stellar week for stocks, thanks to the US and China extending olive branches to one another. Earlier this week, China agreed to exempt shrimp, cancer drugs, pesticides and more than a dozen other products from tariffs. The Dow is up nearly 1.5% so far this week and is on track for its third consecutive weekly gain. The S&P 500 and Nasdaq have each risen more than 1% this week and are also on pace for a third straight weekly win.
It was a wild week on Wall Street
NEW YORK - It was far from the dog days of summer on Wall Street this past week. Monday, August 12The wild ride begins Monday after the Dow closes nearly 400 points lower, or 1.5%. The 10-year Treasury yield and 30-year Treasury yield starts to decline. The Dow close nearly 400 points higher, with the Nasdaq rising by 2% and the S&P up 1.5%. Friday, August 16The Dow ends 307 points higher, or 1.2%.
Asian markets roiled by recession fears
SHANGHAI - Asian stocks were roiled by recession fears Thursday, though markets in Hong Kong and Shanghai recovered their losses by the end of the day. In Hong Kong, property developers have been hit hard by the city's mass protests. "Hong Kong stocks had been oversold and investors are buying the dip," said Ben Kwong, executive director of KGI Asia. The 10-year Treasury bond yield fell below 1.6% Wednesday, dropping just below the yield of the 2-year Treasury bond. On Thursday, the US 30-year Treasury yield fell to a new record low, according to Refinitiv.
Dow drops 450 points. Trade war fears just won't go away
NEW YORK (CNN) - Wall Street's trade war anxiety isn't going away. The selling comes as investors brace for the US-China trade war to deal more damage to the global economy. Goldman Sachs raised its estimate of how much the trade war will hurt the economy. Investor sentiment was further dented on Monday by rising concerns about the pro-democracy protests in Hong Kong. The iShares MSCI Hong Kong ETF tumbled 3% on Monday, leaving the fund down 13% so far this quarter.
Dow set to fall as Europe slows, trade war escalates
Weakness in the European economy and a still-escalating trade war sent bond yields down once again and stocks along with them. The Dow traded 0.1%, or 25 points, lower, while the S&P 500 is down 0.2%. By Thursday's close, the S&P and the Nasdaq had retraced their loses from earlier in the week, but the Dow was still lagging behind. The US government bond yield dropped to a three-year low Wednesday as investors bought bonds as a safety investment amid the market turmoil. Italian bond yields jumped higher, showing that investors aren't confident in Rome resolving its problems.
Tech stocks on longest losing streak since Trump elected
The Nasdaq plunged 3.5% Monday, posting its sixth-straight down day the longest losing streak since a nine-day declne in late October and early November 2016, just before President Donald Trump's election as president. Trade tension with China is having an outsized impact on the the tech sector, and the latest tariffs Trump threatened would hit tech particularly hard. But trade is not the only reason why several big tech companies have been falling lately. The Nasdaq is still up 16% this year, despite its recent losing streak. And then there's Amazon, one of several big tech companies that are being scrutinized by US regulators who may seek to break up or fine Amazon and other big tech firms such as Facebook, Apple and Google owner Alphabet.
S&P 500 hovers near record high
A trader signals an offer in the S&P 500 stock index futures pit at the Chicago Mercantile Exchange. (CNN) - Stocks opened flattish on Monday, although the S&P 500 is hovering near Friday's record closing high. If the blue-chip stock index closes in positive territory on Monday, it will surpass the 3,026-point record it set on Friday. The Nasdaq Composite also finished last week at a record high, closing at 8,330 points. At the start of the new week, the Dow and the S&P 500 opened flat.
China's new tech market has already made three billionaires
China's Star Market, a new Nasdaq-style stock market board on the Shanghai stock exchange got off to a spectacular start. SHANGHAI, China - China's new Nasdaq-style market has already propelled three tech executives to billionaire status. The three men hold stakes in companies that ballooned in value when the Star Market in Shanghai began trading Monday. The 25 stocks on the market gained 140% on average the day of the debut, before retreating slightly Tuesday. The founder and chairman of Suzhou HYC Technology, Chen Wenyuan, is worth about 15 billion yuan ($2.2 billion) based on Wednesday's share price.
Stock futures jump after US, China agree to renew trade talks
Traders work at the New York Stock Exchange (NYSE) on June 20, 2019, in New York City. Asia stocks rallied on Monday following commitments by the United States and China to resume trade talks. US stock futures also climbed, after US President Donald Trump said he would hold off on new tariffs on China and said he would lift some restrictions on Chinese tech giant Huawei. The Dow was up more than 200 points and the Nasdaq, which includes key tech companies, rose by as much as 1.5%. And the administration's position on Chinese tech giant Huawei remains murky, which could make the tech sector jittery.
Dow rebounds after Steven Mnuchin ignites trade optimism
Mario Tama/Getty Images(CNN) - The Dow opened higher on Wednesday, thanks to optimism about a U.S.-China trade deal. The higher futures come on the coattails of comments made by Treasury Secretary Steven Mnuchin, who said a trade deal with China was close to done. "Resuming trade talks seems to be the best attainable result of the Trump-Xi meeting at the G20 summit. Elsewhere, gold prices, which recently rose to a six-year high, are taking a breather. The tensions between the United States and Iran also seem to be cooling off or, at least, are not escalating.