All posts in Stock Market Updates

A federal jury in Chicago convicted two former traders on JPMorgan’s precious metals desk who had been accused of rigging gold prices, finding they used deceptive orders to manipulate prices. The convictions are the capstone of a seven-year Justice Department campaign to punish a style of deceptive trading in the futures markets known as spoofing. The quick-fire strategy was prevalent at some Wall Street banks before Congress outlawed counterfeiting in 2010, and persisted even after it was banned, according to prosecutors. JPMorgan paid $920 million in 2020 to settle regulatory and criminal charges against the bank over trader conduct. After…

The collapse in cryptocurrency prices this year has left US regulators scrambling to understand the risks digital asset markets could pose to the wider economy. They may soon incorporate hedge funds into the effort. The Securities and Exchange Commission issued a proposal on August 10 that would require large hedge funds to report their cryptocurrency exposure using a confidential file known as Form PF. Created after the 2008 financial crisis, Form PF was designed to help regulators spot bubbles and other potential stability risks in the otherwise opaque ecosystem of private funds that manage money for wealthy individuals and institutions….

A shopping cart is seen at a supermarket as inflation hit consumer prices in Manhattan, New York, U.S., June 10, 2022. Andrew Kelly | Reuters If inflation has been the biggest threat to US economic growth, July’s data should provide signs that at least some relief is on the way. Prices were flat for the month according to the items the Bureau of Labor Statistics tracks in its consumer price index. It was the first time the aggregate measure had not posted a month-on-month increase since May 2020, when the widely followed index showed a modest decline. Just a month…

More than half of black, Native American and Latino households are facing a financial crisis as they face inflation rates that are at a 40-year high. this, according to a new survey from NPR, the Robert Wood Johnson Foundation and the Harvard TH Chan School of Public Health. As high gas prices and ever-rising grocery store prices are stretching Americans’ wallets, the survey shows that blacks, Native Americans and Latinos are struggling the most amid high inflation. About 58 percent of African Americans, 69 percent of Native Americans and 56 percent of Latinos say rising costs have left them struggling…

US stocks rallied after the latest US inflation report showed price rises slowed in July, Disney beat analysts’ expectations and added 15 million subscribers to its streaming Disney+, and social media companies want live streaming to be the future of shopping. Mentioned in this podcast: Disney’s streaming business defies industry obscurity US inflation eased slightly in July due to lower gasoline prices US stocks and bonds rally after weaker-than-expected inflation data Social media’s big bet: The shopping revolution will be streamed live Unhedged: Markets, Finance and Strong Opinions The FT News Briefing is produced by Fiona Symon, Sonja Hutson and…

WEIRTON – After months of negotiations, the Weirton Transit Corp. Board of Trustees on Wednesday opted to back out of a planned lease for new office space after receiving a report that the company’s finances public transport provider are not as strong as members previously believed. Phil Gilcrest, transit manager, explained that closer reviews of the WTC’s revenue streams in recent weeks, as well as communications from the state, have led to the decision to reverse course with the planned lease of space in the Lauttamus Communications Building on Cove Hill Road. “Right now, we don’t think it would be…