12 June

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S&P 500 Flat as Investors Stay Sidelined; Orphazyme’s Meme Star Fades By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 was flat Friday, as investors moved to the sidelines ahead of the Federal Reserve meeting next week, awaiting further clues on monetary policy. The S&P 500 fell 0.23% though remained close to its intraday record high of 4,249.97. The Dow Jones Industrial Average was down 0.22%, or 76 points, and the Nasdaq Composite was up 0.1%. Wall Street was sluggish after making a bright start to the session. Investors appear wary of making big moves ahead of the Federal Reserve's two-day meeting ending Wednesday that is unlikely to...

12 June

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S&P 500 Ends Week at New Record High as Bulls Find Feet Late By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 closed at another record Friday, as a late show of investor appetite for stocks rounded off a week in which a hotter inflation report was largely cast aside ahead of the Federal Reserve meeting next week. The S&P 500 rose 0.19% to end the day at a closing high of 4,247. The Dow Jones Industrial Average was up 0.04%, or 13 points, and the Nasdaq Composite was up 0.35%. Wall Street was sluggish after making a bright start to the session, though the marching feet of the bulls returned...

11 June

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Poverty Across Generations Is Largely Gone for White Americans By Bloomberg

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(Bloomberg) -- Poverty passed on over three generations affects just 1 in 100 White Americans, compared with 1 in 5 Blacks Americans. That’s the finding of a paper from a team of researchers who examined racial disparities in income mobility and concluded there’s a “stark racial gap” in the persistence of poverty across multiple generations in the U.S. By the third generation, Black Americans are 41% more likely to be in poverty than Whites Americans. The paper highlights both the difficulties for Black Americans to escape poverty and the greater risks for them to fall into...

11 June

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Analysis: Remittance firms slow to add bitcoin, despite El Salvador move By Reuters

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By Tom Arnold and Tom Wilson LONDON (Reuters) - El Salvador may be touting bitcoin's use to help its citizens living abroad send funds back home, but the biggest remittance firms are cautious about offering cryptocurrency services. In a move that could be a harbinger of crypto becoming a more popular way to send money across borders, El Salvador on Wednesday became the first country to adopt bitcoin as a parallel legal tender. President Nayib Bukele played up bitcoin's potential as a remittance currency for Salvadorans overseas. But despite the possible long-term risk to their business...

11 June

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Starbucks Stadium? Coffee chain applies for naming rights By Reuters

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By Jonathan Stempel (Reuters) - Starbucks Corp (NASDAQ:SBUX) has applied with the U.S. trademark office for the right to use its name on a sports stadium or training facility. In a June 2 application, the coffee chain sought approval to use its name in "providing stadium and training facilities for sports and entertainment activities" and "promoting business, sports and entertainment events of others." Approval could enable Seattle-based Starbucks to join companies such as AT&T (NYSE:T), Bank of America (NYSE:BAC), Canadian Tire, FedEx (NYSE:FDX), Oracle (NYSE:ORCL), PPG Paints, Target (NYSE:TGT), Toyota and...

11 June

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U.S. Consumer Sentiment Rises, Inflation Outlook Moderates By Bloomberg

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(Bloomberg) -- U.S. consumer sentiment rose in early June by more than expected on improved outlooks for the economy and moderating inflation expectations. The University of Michigan’s preliminary sentiment index increased to 86.4 from 82.9 in May, data released Friday showed. The figure came in above the median 84.2 in a Bloomberg survey of economists. Consumers expect inflation to rise 4% over the next year, down from 4.6% in the May survey. They expect prices over the next five years to increase 2.8%, compared to 3% last month. “Stronger growth in the national economy was anticipated,...

11 June

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U.S. Yields Set for Biggest Weekly Drop in Year as Shorts Exit By Bloomberg

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(Bloomberg) -- Treasury 10-year yields headed for their biggest weekly decline in a year amid signs traders are further unwinding short positions in U.S. government debt despite a jump in consumer prices. Benchmark yields have tumbled 11 basis points this week, putting them on track for their biggest drop since June 2020, and touched a three-month low of around 1.43% on Friday. They had briefly ticked up following the faster-than-expected inflation data on Thursday before swiftly heading back lower again. The prolonged downward trajectory of U.S. yields in recent sessions without a clear catalyst suggests a...

11 June

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McDonald’s in South Korea, Taiwan hit by data breach By Reuters

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(Reuters) -McDonald's Corp, the world's largest burger chain, said on Friday that a data breach in South Korea and Taiwan has exposed some customer and employee information, making it the latest global company to be targeted by cybercriminals. The attackers accessed e-mails, phone numbers and delivery addresses, but the breach did not include customer payment information, the company said. The details of the breach in the two regions were the result of an investigation by external consultants following an unauthorized activity on the company's network. "While we were able to close off access quickly after identification,...

11 June

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Santander’s Orcel case could face long delay as hearing postponed By Reuters

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By Jesús Aguado and Emma Pinedo MADRID (Reuters) - A Spanish court on Friday postponed a hearing in the dispute between Santander (MC:SAN) and Italian banker Andrea Orcel over a withdrawn offer to make him chief executive, potentially spelling a lengthy delay in the long-running case. Santander and Orcel ended up in the Madrid court after Spain's largest bank dropped plans to make Orcel, who was then the top investment banker at Swiss bank UBS, its CEO after a dispute over his pay package. A source with knowledge of the matter told Reuters that the postponement,...

11 June

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Meme Stocks Go Their Own Way For A Day By Investing.com

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By Dhirendra Tripathi Investing.com – Meme stocks showed no particular trend so far in Friday’s session with most relatively subdued in signs of a fatigue on the last day of the week. Clover Health (NASDAQ:CLOV) rose 7%, modest by the standards of meme stocks. Shares of the Medicare insurance start-up had doubled during Tuesday’s session before closing the day with 86% gains. AMC Entertainment (NYSE:AMC) rose 6%, GameStop (NYSE:GME) 2% and BlackBerry (NYSE:BB) 1%. In the negative were Contextlogic (NASDAQ:WISH) which was down 6.5%, World Wrestling (NYSE:WWE) 5%, Clean Energy Fuels...

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S&P 500 Flat as Investors Stay Sidelined; Orphazyme’s Meme Star Fades By Investing.com

S&P 500 Ends Week at New Record High as Bulls Find Feet Late By Investing.com

Poverty Across Generations Is Largely Gone for White Americans By Bloomberg

Analysis: Remittance firms slow to add bitcoin, despite El Salvador move By Reuters

Starbucks Stadium? Coffee chain applies for naming rights By Reuters

U.S. Consumer Sentiment Rises, Inflation Outlook Moderates By Bloomberg

U.S. Yields Set for Biggest Weekly Drop in Year as Shorts Exit By Bloomberg

McDonald’s in South Korea, Taiwan hit by data breach By Reuters

Santander’s Orcel case could face long delay as hearing postponed By Reuters

Meme Stocks Go Their Own Way For A Day By Investing.com

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