Category: Stock Market News

Matt Zames, chief operating officer at J.P. Morgan Chase , is stepping down from the giant bank, according to an internal memo. Zames, often described as an heir apparent to CEO Jamie Dimon, had worked at the bank for some 13 years and had held some of the bank’s most important roles, including serving as chief investment officer in the wake of the so-called London Whale scandal, which saddled the bank with an embarrassing loss and dented its risk-management reputation. “Matt has held leadership roles in our investment banking and trading businesses, and he was an integral part of the team that helped manage the firm successfully through the financial crisis,” said Dimon in an internal memo on Thursday. The executive is expected to leave in the coming weeks; details about his next move weren’t immediately known. The 46-year-old Zames had long been considered among the C-suite executives in position to succeed Dimon should he decide to step down from the helm of J.P. Morgan.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Gold futures fell sharply Thursday, as weakness in the euro, following the European Central Bank’s monetary policy meeting, strengthened the U.S. dollar. The ICE U.S. Dollar Index was up 0.3%, raising its week-to-date gain and contributing to weaker investment demand for dollar-denominated gold. The August contract for the yellow metal dropped $13.70, or 1.1%, to settle at $1,279.50 an ounce.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Dow Jones Industrial Average on Thursday set a fresh all-time high in intraday trade, as former FBI Director James Comey delivers closely watched testimony in front of the Senate Intelligence Committee that some believe provides no surprises that might alter President Donald Trump’s pro-growth policy agenda. The Dow was trading up 0.3% at 21,245 in recent trade, exceeding its most recent intraday record set June 2, as Comey delivered detailed testimony about his interactions with Trump before his firing on May 9, amid the Federal Bureau of Investigation’s probe into Russia’s connection to members of the president’s 2016 election campaign. The S&P 500 index rose 0.2% at 2,437, while the Nasdaq Composite Index , which touched its own intraday earlier in the session, was up 0.3% at 6,313. The Dow was being lifted by financial shares, with Goldman Sachs Group Inc.’s shares adding to 26 points to the price-weighted blue-chip index’s climb.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Fired FBI Director James Comey testified to the Senate that he arranged the leak of contents of his memo to pressure for the appointment of an independent counsel. He also identified the friend who leaked on his behalf was a professor at Columbia Law School. Columbia Law professor Daniel Richman identifies himself as an adviser to Comey.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Former FBI Director James Comey made waves at the Senate hearing Thursday in describing his reaction to President Trump’s tweet, in which the president wrote, “James Comey better hope that there are no “tapes” of our conversations before he starts leaking to the press!” Comey told the committee: “Lordy, I hope there are tapes.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

An evacuation sparked Thursday by a suspicious package has ended, according to London’s Metropolitan Police. “The incident in Charing Cross has now been stood down. Cordons will be lifted shortly,” the police force said in a tweet. Earlier, a suspicious package had led to the evacuation of Trafalgar Square and the closure of the Charing Cross train station, according to multiple reports. The steps were taken “as a precaution because of a suspect item,” said a BBC News correspondent on Twitter. The U.K. capital has seen increased patrols by police in the wake of Saturday’s terrorist attack in the London Bridge area that left eight victims dead.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Former FBI Director James Comey on Thursday testified that President Bill Clinton’s tarmac meeting with then-Attorney General Loretta Lynch led him to publicly announce his findings in the Hillary Clinton email case. “Yes, in ultimately a conclusive way,” Comey said at the Senate hearing.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

A suspicious package has led to the evacuation Thursday of London’s Trafalgar Square and the closure of the Charing Cross train station, according to multiple reports. The steps were taken “as a precaution because of a suspect item,” said a BBC News correspondent on Twitter. The U.K. capital has seen increased patrols by police in the wake of Saturday’s terrorist attack in the London Bridge area that left eight victims dead.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Data from the U.S. Energy Information Administration Thursday showed that domestic supplies of natural gas rose by 106 billion cubic feet for the week ended June 2. Analysts surveyed by S&P Global Platts forecast a build of 100 billion cubic feet. Total stocks now stand at 2.631 trillion cubic feet, down 332 billion cubic feet from a year ago, but 237 billion cubic feet above the five-year average, the government said. July natural gas fell 2.7 cents, or 0.9%, from Wednesday’s settlement to $2.993 per million British thermal units. It traded at $3.011 before the data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shares of department store chains got a nice bump in morning trade Thursday, as Nordstrom Inc.’s plan to explore a going private transaction helped draw fuel investor attention. Nordstrom’s stock soared 12.6%, and was by far the biggest percentage gainer in the S&P 500 , after the high-end department store chain said members of the Nordstrom family had formed a group to consider taking the company public. Meanwhile, shares of Macy’s Inc. shot up 2.9%, to place it fourth on the S&P 500’s gainers list. Elsewhere, shares of Dillard’s Inc. rallied 4.2%, Kohl’s Corp. climbed 0.7% , J.C. Penney Co. Inc. rose 0.7%, while Sears Holdings Corp. lost 0.7%. The SPDR S&P Retail ETF tacked on 0.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News