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New York NY, Wall Street is on fire — both the S&P 500 and Nasdaq have soared to record highs, fueled by positive developments in U.S.-China trade talks, Federal Reserve rate cut speculation, and surging investor confidence in the tech sector.
Continue reading S&P 500 and Nasdaq Hit Record Highs Amid Trade Optimism, Fed Bets, and Tech Surge
the staff of the Ridgewood blog
Washington DC, the Federal Reserve announced yesterday that it will keep its benchmark interest rates unchanged, holding steady at a target range of 4.25% to 4.5% for the third consecutive meeting. The move comes amid mixed economic signals and ahead of critical U.S.-China trade talks set to begin later this week.
the staff of th Ridgewood Blog
RecruitMilitary was celebrated today as a Patriot in Business Award Honoree during the Nasdaq Opening Bell Ceremony (photos attached). This recognition highlights RecruitMilitary’s commitment to supporting veteran employment and military spouse career programs.
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Newark NJ, the former head of corporate communications for a biopharmaceutical company today admitted her role in an insider trading scheme, U.S. Attorney Philip R. Sellinger announced.
Lauren S. Wood, 33, of Washington, D.C., pleaded guilty before U.S. District Judge John Michael Vazquez to an information charging her with securities fraud. Stemming from the same alleged conduct, Usama Malik, also of Washington, D.C., was previously charged in a three-count indictment with insider trading, securities fraud, and securities fraud conspiracy.
the staff of the Ridgewood blog
Newark NJ, the former chief financial officer and the former head of corporate communications for a biopharmaceutical company were arrested for their roles in an insider trading scheme, Acting U.S. Attorney Rachael A. Honig announced today.
Continue reading New Jersey-based Biopharmaceutical Executives Arrested for Insider Trading
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Mahwah NJ, Banks ,Brokerages ,Major Stock and Commodities Exchanges Plot Moves to Leave New Jersey. Texas Governor Greg Abbott will welcome representatives from major stock exchanges, including Nasdaq, to Austin on Nov. 20 as the state makes a bid to be the top choice if the exchanges make good on threats to move their trading platforms out of New Jersey.
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Mahwah NJ, The New Jersey Chamber of Commerce opposes legislation (S-2902/A-4402) which would impose a new tax on financial transactions, such as electronic stock trades, that flow through major data centers in New Jersey.
Simply put, the tax could backfire on New Jersey. The mere discussion of this tax has caused several stock exchanges to begin exploring moving their data centers out of New Jersey – to states that don’t impose such a tax. Last month, the New York Stock Exchange, which has a data center in Mahwah, N.J., said it ran one of its exchanges from a back-up data center in Chicago to demonstrate its readiness to move out of New Jersey. Two other exchange operators, Nasdaq Inc. and Cboe Global Markets Inc., also indicated that they would leave New Jersey over the tax. If New Jersey loses data centers, the state would actually be looking at less revenue and less jobs.
Continue reading Financial Transition Tax Will Drive Data Centers Out of New Jersey
the staff of the Ridgewod blog
Mahwah NJ, Nasdaq has joined the New York Stock Exchange in looking to potentially relocate its electronic-trading systems from data centers in New Jersey over a potential new tax.
Evelyn Cheng | @chengevelyn
U.S. stocks closed deep in the red on Friday as global growth concerns accelerated selling pressure to push the Dow into correction territory. (Tweet This )
The Dow Jones industrial average fell more than 500 points, into correction territory for the first time since 2011 as all blue chips declined. In the last five years, the index has only had four instances with closing losses of more than 400 points.
“For investors the momentum and the drive of the market is now lower (than) it used to be because there’s no place to hide,” said Lance Roberts, general partner at STA Wealth Management. “Every time we hit the major technical points we kept selling.”
A traders noted that investors stopped looking at techincals and were plowing through them.
“It’s an expiration day and it looks like they’re to have for sale on the close maybe as much as a billion dollars,” said Art Cashin, director of floor trading for UBS.
The Nasdaq Composite lost more than 3 percent, also closing in correction territory and joining the other major averages in negative territory for the year.
https://www.cnbc.com/2015/08/21/us-markets-global-growth.html
