Page 7 - Wall Streets

Wall Street expected to slash 200,000 jobs as AI encroaches human roles

Back office, middle office and operations are likely to be most at risk, according to Tomasz Noetzel, the BI senior analyst who wrote the report

US stocks dip as investors assess data, Trump's economic emergency plan

A majority of the 11 S&P 500 sectors were in the red, led by a 1 per cent decline in utilities, pressured by Treasury yields which stood at multi-month highs

Wall Street hits one-week high as optimism grows over Trump tariffs

In a week packed with economic data and speeches from US Federal Reserve officials, investors will look for clues on the pace of monetary policy easing this year

Wall Street's top banks just quit a once popular net-zero alliance

JPMorgan Chase & Co., the largest US bank, looks to be next in line

Trump transfers nearly $4 billion of Trump Media shares to revocable trust

Shares of Trump Media and Technology Group slid in midday trading Friday after President-elect Donald Trump transferred all of his shares into a revocable trust, according to a regulatory filing. Trump transferred all of his nearly 115 million shares worth around USD 4 billion on paper in the parent company of social networking site Truth Social as a bona fide gift to the Donald J. Trump Revocable Trust, the Securities and Exchange Commission filing on Thursday said. Trump's shares amount to more than half of the company's stock. It's not clear why Trump transferred the stock. Donald Trump Jr. is the sole trustee and has sole voting and investment power over all securities owned by the trust. Trump Media shares were down about 2 per cent at midday, to USD 34.68 each. At one point Friday, they were down around 6 per cent. Trump Media shares have been extremely volatile since the company began trading in March. They reached intraday highs close to USD 80 on the first day of trading

Wall Street falls sharply as Fed signals slower rate cuts next year

For the Dow it was its tenth consecutive daily loss, marking its longest losing streak since 1974 and its biggest daily percentage decline since early August

Joe Biden calls for ban on congressional stock trading Washington

President Joe Biden endorsed a ban on congressional stock trading in an interview that's being released this week, belatedly weighing in on an issue that has been debated on Capitol Hill for years. Nobody in the Congress should be able to make money in the stock market while they're in the Congress, Biden said. The interview was conducted by Faiz Shakir, a political adviser for Sen. Bernie Sanders, and published by A More Perfect Union, a pro-labour advocacy and journalism organisation. The Associated Press reviewed a video of the interview before its release. It's unclear what impact Biden's statement could have, coming only a month before his term ends. The Democratic president spoke to Shakir about his economic legacy, which includes supporting unions, investing in clean energy projects and signing infrastructure. But Shakir also asked about congressional stock trading, which has been a catalyst for populist anger at Washington. For example, when the coronavirus pandemic was ..

Wall Street stocks up, dollar steady amid turmoil in South Korea, France

UnitedHealth shares gained 0.4 per cent even as Brian Thompson, the CEO of its insurance unit, was fatally shot on Wednesday morning in New York City

Trump may pick Cantor Fitzgerald CEO Howard Lutnick for Commerce chief

The Donald Trump transition team did not immediately respond to a request for comment.

Weekly contracts that made India top options market has last trading day

The surge in options trading boosted revenue for the nation's two stock exchanges and attracted the biggest Wall Street firms

Wall Street gains on Presidential poll day as technology, chip stocks rise

The final outcome could take days as opinion polls in the campaign's final days showed the contest between Republican Donald Trump and Democrat Kamala Harris was too close to call

Trump's Truth Social surpasses Musk's X in value after stock price surge

Donald Trump's Truth Social is now worth more than Elon Musk's X, thanks to a recent run-up in the shares of the parent company of the former president's social media platform. Trump Media and Technology Group is now valued at over USD 10 billion after its shares more than quadrupled since late September. Meanwhile, X Holdings is valued at around USD 9.4 billion, based on the most recent value the investment group Fidelity assigned to its stake in the company formerly known as Twitter. The stock of Trump Media, or TMTG, tends to move more with Trump's re-election odds than on its own profit prospects and investors have seen his chances of retaking the presidency improving of late. On Tuesday, the stock rose more than 12 per cent to USD 53.30, on top of a 21.6 per cent gain Monday. The stock was moving so sharply that trading was briefly halted several times during the morning. The stock had dropped to roughly USD 12 late last month. Trump created TMTG after he was banned from Twitte

LSEG platform users report outage across globe after Wall Street open

LSEG, which runs the London Stock Exchange and provides data and analytics to banks and other institutions, said it was working to resume service

Asian stocks, Wall Street futures edge up, China lowers repo rate

China's central bank surprised many by lowering its 14-day repo rate by 10 basis points

Asian shares rise on Wall St tech boost, dollar extends gains on yen

Earlier in Asian trade, the yen had eased further to a low of 142.95, but was last flat at 142.40 per dollar, perhaps helped a little by hawkish comments from a senior Bank of Japan official

Fiery US Prez elections debate gives Wall Street few new details on issues

Their exchanges left investors with few new details on issues that could sway markets, including tariffs, taxes and regulation

Wall Street traders suddenly converge on the economic hazards ahead

Stocks decouple, sell-off; Recession odds climb

Wall Street falls sharply to close its worst week in nearly 18 months

Another rout hit Wall Street Friday, with formerly high-flying technology stocks again taking the brunt, after a highly anticipated update on the US job market came in weak enough to add to worries about the economy. The S& P 500 dropped 1.7 per cent to close out its worst week since March 2023. Broadcom, Nvidia and other tech companies drove the market lower amid ongoing concerns that their prices soared too high in the boom around artificial intelligence, and they dragged the Nasdaq composite down by a market-leading 2.6 per cent. The Dow Jones Industrial Average dropped 410 points, or 1 per cent, after erasing a morning gain of 250 points. Sharp swings also hit the bond market, where Treasury yields tumbled, recovered and then fell again after the jobs report showed US employers hired fewer workers in August than economists expected. It was billed as the most important jobs report of the year, and it showed a second straight month where hiring came in below forecasts. It also ..

Wall Street T+1 switch is causing more pain than we thought: Citigroup

The T+1 shift was a global event for the financial industry because it affected every institution and investor with cash in the US capital markets

Nvidia suffers record $279 billion loss in market value as Wall St drops

Nvidia lost $279 billion in market capitalisation, a major indication that investors are becoming more cautious about emerging AI technology that has fueled much of this year's stock market gains