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Stocks rise as lower bond yields help lift tech companies
3 days ago - By Stl Today
Stocks are closing moderately higher on Wall Street. The S&P 500 was helped to a new high Thursday by large technology companies that benefitted from lower bond yields. Bank stocks and energy companies fell, which muted the market's overall gains...
Read more ...How major US stock indexes fared Thursday
3 days ago - By Chron
Stocks are closing moderately higher on Wall Street and the S&P 500 was helped to a new high Thursday by large technology companies that benefitted from lower bond yields.
Bank stocks and energy companies fell, which muted the market's overall gains. The S&P 500 index gained 0.4%. The Dow Jones Industrial Average rose 0.2% and the technology-heavy Nasdaq Composite climbed 1%. Stocks have benefited this week from a cooling off in the bond market. Yields, which had been steadily ticking higher, have retreated from highs hit earlier in the month.
On Thursday:
The S&P 500 rose 17.22 points, or...
Read more ...US stocks build on record highs as tech shares gain and Fed policy stays supportive
3 days ago - By Business Insider
Xinhua/Wang Ying/Getty Images
The S&P 500 closed at a record high Thursday and pushed closer to the 4,100 mark.
Technology shares fronted gains among stocks as Treasury yields declined.
Equities advanced as the Federal Reserve indicates it will stick with monetary policy accommodative to economic recovery.
See more stories on Insider's business page .
Wall Street notched a new record high for stocks on Thursday, with tech shares leading the way after the Federal Reserve signaled its willingness to keep monetary policy directed toward supporting the recovery of the world's largest economy...
Read more ...BlackRock hires longtime Goldman executive in a top strategy role to help drive growth in its $276 billion alternatives business
3 days ago - By Business Insider
Summary List Placement BlackRock has hired Stephanie Smith, who spent two decades at Goldman Sachs and rose to its elite partner ranks, as the chief operating officer of its alternatives business starting this summer, the firm told employees on Thursday.
Smith, most recently the head of operations for Goldman's consumer and wealth management division , will help oversee and set strategy and direction for BlackRock Alternative Investors - a key area the firm has been investing in.
The unit oversaw $276 billion in assets as of the end of December. While it's a slice of BlackRock's overall...
Read more ...Biden's tax hike could drag S&P 500 profit growth to a near-standstill next year, says Goldman's chief US stock strategist
3 days ago - By Business Insider
Summary List Placement Corporate tax hikes out of Washington could put a dent in the S&P 500 's earnings growth in 2022, Goldman Sach's David Kostin told CNBC on Thursday.
The chief US equity strategist said that if the entirety of President Biden's plan is passed, which includes raising the corporate tax rate to 28% from 21% and cracking down on companies that move profits offshore, the S&P 500 would see earnings growth of about 2% in 2022.
That's lower than the 22% quarterly profit growth in the first quarter of 2021, and the 6% profit growth in 2020, according to Bloomberg...
Read more ...The CEO of Canopy Growth lays out 3 reasons his acquisition spree will help the world's largest cannabis company dominate the lucrative US market
3 days ago - By Business Insider
Summary List Placement Canadian cannabis giant Canopy Growth has been on an acquisition spree in recent weeks, snapping up smaller companies in a bid to boost profitability at home and lay the groundwork for US expansion.
Canopy, the world's largest cannabis company by market cap, said on Thursday morning it would pay approximately C$435 million in a mostly stock deal, including debt, to acquire The Supreme Cannabis Company, which sells the 7Acres line of cannabis products in Canada. The company closed its acquisition of AV Cannabis , a Toronto-based company that produces the Ace Valley...
Read more ...The US economy is set to fully recover to pre-COVID levels this quarter - a feat that took more than 3 years after the last financial crisis
3 days ago - By Business Insider
Alexi Rosenfeld/Getty Images
Real gross domestic product for the US economy is set to return to pre-coronavirus levels this quarter, economists say. It's a feat took more than 3 years after the last financial crisis, Commerzbank analysts said. The IMF has said the scarring from COVID will be far less than after 2008 in advanced economies. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Real gross domestic product for the US economy is likely to retake its pre-coronavirus levels this quarter, economists predict. The measure of GDP - which provides an...
Read more ...Biden's tax hike could drag S&P 500 profit growth to a near-standstill next year, says Goldman's chief US stock strategist
3 days ago - By Business Insider
Drew Angerer/Getty Images
Tax increases could weigh on the S&P 500's earnings growth in 2022, Goldman's Kostin told CNBC.
The chief US equity strategist said profit growth could be as low as 2% if all of Biden's proposals pass.
However, he anticipates not every proposal within the plan will pass.
Sign up here for our daily newsletter, 10 Things Before the Opening Bell .
Corporate tax hikes out of Washington could put a dent in the S&P 500 's earnings growth in 2022, Goldman Sach's David Kostin told CNBC on Thursday.
The chief US equity strategist said that if the entirety of President...
Read more ...
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