All posts in Stock Market Updates

This is CNBC Senior Markets Commentator Mike Santoli’s daily notebook of insights on trends, stocks and market statistics. A breakfast of hearty economic and earnings data, plus easily digestible Fedspeak, is fueling a relief rally in stocks, with “better than feared” inputs slightly easing recession worries, earnings pain and the aggressiveness of the Federal Reserve. The market has shown little willingness to budge toward the June lows, even if it remains mired in the lower end of the 2022 range. In nine of the past 11 trading days, the S&P 500 has finished much higher higher than its morning low,…

Commuters and tourists exit a subway car on May 26, 2022 in New York City. Robert Nickelsberg | Getty Images More Americans were working part-time and temporary jobs last month, which may herald future changes in the shape of what looks like a robust labor market today. July hiring easily beat expectations, suggesting a strong labor market despite other signs of economic weakness. But a jump in the number of part-time workers for economic reasons, usually because of reduced hours, poor business conditions or because they can’t find full-time work, signals potential instability ahead. The Bureau of Labor Statistics reported…

AUSTIN, Texas – A Texas jury on Friday ordered conspiracy theorist Alex Jones to pay the parents of a boy killed at Sandy Hook High School in 2012 $45.2 million in punitive damages for spreading the lie that they helped organize the massacre. The jury announced its decision a day after awarding the parents over $4 million in compensatory damages and after testifying on Friday that Mr. Jones and Free Speech Systems, the parent company of his disinformation outlet Infowars, were worth between $135 million and $270 million. Jones was found liable last year for defaming the victims’ families while…

The financial services sector has long been criticized for the lack of women in senior roles. Now City Council is taking the issue more seriously, often starting in the junior ranks, through policies and 50/50 hiring programs to foster female talent. Financial News’ Rising Stars of Investment Banking list this year features 8 women out of a total of 25. While there is more to do to increase the number of women trading, there is plenty of talent on the list, which has the potential to be the future leaders of the sector. Learn more about them here: Mose Adigun,…

Stocks rallied through July despite growing recession fears and dismal economic data. The rally was fueled by investors betting the US economy would slow down and the Fed would cut rates. Low rates boost stock prices, which means bad economic news is actually good for investors. Loading Loading something. The economy is contracting and Americans increasingly fear a recession is on the horizon or already here. However, the stock market is thriving positively. The S&P 500 jumped 9.1% in July alone, notching its best monthly gain since the post-lockout rally in November 2020. The benchmark is now at its highest…

The New York State Department of Financial Services fined the cryptocurrency trading unit of online brokerage Robinhood $30 million for alleged violations of anti-money laundering and cybersecurity regulations, in the department’s first cryptocurrency enforcement action. New York state’s financial regulator said on Aug. 2 that Robinhood failed to maintain or certify compliant cybersecurity and anti-money laundering programs. As part of the consent order, Robinhood will also be required to hire an independent consultant to evaluate its compliance with NYDFS regulations and its remediation efforts. TO READ Binance.US withdraws token amid SEC insider trading investigation into Coinbase NYDFS said it found…

Gannett recorded a financially regrettable second quarterthe company reported Thursday: major revenue streams dropped, costs increased and a loss of $54 million on revenue of $749 million. Strong cost-cutting moves are taking place. Media Division Chief Maribel Perez Wadsworth, in a memo to staff, warned of impending layoffs. “In the coming days,” he wrote, “…we will be making necessary but painful staff reductions, eliminating some open positions and roles that will affect valued colleagues.” Gannett shares, already down about 45% for the year, fell another 28.5% by mid-morning, indicating that Wall Street wasn’t expecting such bad results. Chief Executive Officer…

President Joe Biden has promised to make up his mind on student loan forgiveness”at the end of August.” That means tens of millions of Americans could learn the future of their debt within days or weeks. Here are five things borrowers can do while you wait for more news, to be prepared for a possible loan cancellation announcement. 1. Determine if you could be included in the relay Loan forgiveness may exclude borrowers who earn more than a certain amount, likely in part to stifle critics who say the policy would direct taxpayer resources to the wealthy. Specifically, those who…