The Surging Indexes – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) At Friday’s close all three indexes stood near records, as the market was sizzling. The Dow Jones Industrial Average was up 1.2%, the S&P 500 and Nasdaq Composite were up !.5% and 2.1% respectfully. For the month of May the S&P 500 was up 5.3%, with nearly all equities in the positive. “The market is very keyed in on this notion of a soft landing, and most data points … Read more…

US SEC updates customer data hacking rules for Wall Street

(Reuters) – Wall Street’s top regulator on Thursday said it had updated rules to ensure investment companies and others work to detect and respond to hackers’ theft of customer data. The changes, approved unanimously by the five-member U.S. Securities and Exchange Commission, apply to rules first adopted in 2000. “Over the last 24 years, the nature, scale, and impact of data breaches has transformed substantially,” SEC Chair Gary Gensler said in a statement, adding that … Read more…

Factbox-Top takeaways from Putin’s trip to China

MOSCOW (Reuters) – Russian President Vladimir Putin made a state visit to China on Thursday where he was greeted by China’s Xi Jinping. What are the main takeaways from the visit? * Xi and Putin declare a “new era” partnership: In a joint statement, 7,000 words long in Russian, Xi and Putin pledged a “new era” of partnership between the two most powerful rivals of the U.S., which they cast as an aggressive Cold War … Read more…

Complaint dismissed against Trump hush-money judge who donated to Biden

By Karen Freifeld NEW YORK (Reuters) – The New York State Commission on Judicial Conduct has dismissed an ethics complaint against Justice Juan Merchan, who is overseeing the hush money criminal case against former U.S. President Donald Trump, a spokesperson for the judge said. \”Justice Merchan said the complaint, from more than a year ago, was dismissed in July with a caution,\” spokesperson Al Baker of the state Office of Court Administration said this week … Read more…

From Bear to Bull – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) April showers bring May flowers…..the bear scampered off, the bull charged in, and the market sizzled…just what the street needed. Friday finished convincingly, with all indexes on fire nudging new highs. After a dismal April, with stubborn inflation and constant negative inflation news there-of, May has had a spate of positive indicators. Corporate earnings, leveling of labor and wages have given investors indications that inflation trends are heading downward. … Read more…

Dow tops 40,000, Biden trolls Trump in split-screen video

WASHINGTON (Reuters) – The Dow topped 40,000 for the first time on Thursday in an all-time high, giving U.S. President Joe Biden an opening to prove his Republican election rival’s 2020 predictions wrong. The state of the U.S. economy looms as one of the larger factors weighing on the Democratic president’s bid for reelection. Persistently high prices have hindered Biden’s efforts to win credit from voters for his handling of the economy, although inflation in … Read more…

JPMorgan investors weigh CEO Dimon’s strategy, succession after record year

By Nupur Anand NEW YORK (Reuters) – With JPMorgan Chase coming off a year of record profits, investors are eager to learn about the firm’s succession plans, investments in artificial intelligence and opportunities beyond traditional banking. Chief Executive Jamie Dimon and his team will be presenting their growth strategies and financial targets on Monday at JPMorgan’s investor day in New York. More than 18 years into Dimon’s tenure as CEO of the bank, JPMorgan’s shares … Read more…

Fed gets some good news on inflation progress

By Ann Saphir (Reuters) – Federal Reserve policymakers waiting to see renewed progress on inflation before reducing borrowing costs got some encouraging data on Wednesday with a government report showing inflation eased a bit in April.    The 3.4% rise in the consumer price index from a year earlier, and the 0.3% increase from March, shows the Fed still has some distance to go before it achieves its 2% target for inflation. But the report … Read more…

Explainer-How Boeing could face the criminal prosecution it avoided in 2021

(Reuters) – The U.S. Justice Department said Boeing breached its obligations under a 2021 agreement that kept the planemaker from criminal prosecution following fatal 737 MAX crashes in 2018 and 2019 that killed 346 people. The finding raises the prospect of Boeing facing prosecution it had previously avoided, which could result in fresh penalties and deepen an ongoing corporate crisis that has already resulted in a management shakeup and government investigations. Boeing failed to “design, … Read more…

Putin to visit China’s Xi to deepen strategic partnership

By Guy Faulconbridge MOSCOW (Reuters) – Russian President Vladimir Putin will visit China on Thursday for talks with Xi Jinping that the Kremlin hopes will deepen a strategic partnership between the two most powerful geopolitical rivals of the United States. China and Russia declared a “no limits” partnership in February 2022 when Putin visited Beijing just days before he sent tens of thousands of troops into Ukraine, triggering the deadliest land war in Europe since … Read more…