NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid a mixed Monday of trading. The S&P 500 rose 0.2% from its all-time high set on Friday to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 28.7% to lead the market. Following allegations of misconduct and the resignation of its public auditor , the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company’s board. It also said that it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 3.2% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 0.5% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street’s frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 5% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday . Target, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.2%. Walmart , which gave a more optimistic forecast, rose 0.2%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.4%. All told, the S&P 500 added 14.77 points to 6,047.15. The Dow fell 128.65 to 44,782.00, and the Nasdaq composite climbed 185.78 to 19,403.95. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget . The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday’s headliner report to show U.S. employers accelerated their hiring in November, coming off October’s lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.A Canterbury commerce graduate has been caught up in the police investigation into the killing of UnitedHealthcare chief executive Brian Thompson . Niki Dilley, who had been visiting New York, has described the police investigation at his hostel - where the chief suspect was also staying - as "scary but cool". It comes as detectives investigating the killing of Thompson recovered possible DNA evidence from items found at the scene and turned it over to a lab for testing, according to a senior law enforcement official briefed on the investigation. Samples sent for testing are from a water bottle, which police believe the killer purchased and may have sipped from shortly before the killing, and from a cell phone found at the scene which may contain touch or skin cell DNA, the official said. NYPD investigators finished processing the items and turned the samples over to the Office of the Chief Medical Examiner for testing Friday, the official told CNN. The main priority for investigators is identifying the gunman, officials say. As the NYPD homicide unit works the case, the suspect's image has been sent to every member of the department, officials told CNN. The New York City Police Department's video collection unit is building a trail of surveillance video sightings and canvassing for still images of the assailant's face to load into their facial recognition technology, the official said. A smiling surveillance photo depicting a hooded man - a face mask pushed down around his neck - may be a key clue leading police to the suspect in the fatal shooting. The image released by the New York Police Department shows a man authorities call a "person of interest wanted for questioning" in the Wednesday morning killing. He is captured in a flirtatious moment with a female employee at a hostel on New York's Upper West Side where he had been staying, a law enforcement official told CNN. The employee asked the man to lower his face mask, which is when the photos released by authorities on Thursday were captured, the official said. "He lowers the mask, and gives that big smile," CNN chief law enforcement and intelligence analyst John Miller said. "That little flirtation between the two of them, in some good-humoured way, actually yielded what is so far the most significant clue to identifying him." The hostel apologised for the presence of law enforcement and media in the area on a flyer posted inside the building Thursday night, a photo obtained by CNN shows. "The well-being of our guests, volunteers, staff and all those at our property is our top priority, and our team is cooperating with the authorities who are handling the matter," the flyer reads. Dilley, 23, checked into the hostel on Tuesday. Dilley is travelling with a friend and staying in a four-person room on the fourth floor. He said he never saw the person of interest, adding many people are going in and out of the building all the time. Dilley saw one police officer on Wednesday night but was not interviewed. "It's made for an interesting week," he said, but has noticed no mass exodus of guests as a result. "It's scary, but also cool," he said of staying at the hostel. "We are fully cooperating with the NYPD and, as this is an active investigation, cannot comment at this time," a spokesperson for the hostel previously told CNN. Along with photos from the hostel, investigators continue to examine physical evidence including the burner phone and water bottle believed to have been dropped by the suspect when he fled the shooting scene - first on foot, then by bike - as well as recovered ammunition with the words "depose" and "delay" written on them, sources told CNN. Authorities also have pieced together more about how and when the suspect got to New York City. Now, the biggest challenge for the NYPD is tracing the movements of one person in a city populated with more than 8 million people, Andrew McCabe, a former FBI deputy director, told CNN Thursday. Parent company adds security measures for employees In the wake of the brazen attack, UnitedHealth Group, the parent company of Minnesota-based UnitedHealthcare, has laid out security plans for employees. "We're ensuring the safety, security and wellbeing of our employees," said Andrew Witty, CEO of UnitedHealth Group in an email sent to employees on Thursday and obtained by CNN. The health insurance company is fully cooperating with law enforcement as the manhunt continues, the email said. "Several support mechanisms" are being put in place for employees, Witty said. "We have increased security at our campuses in Minnesota, in addition to sites in Washington, DC, and New York City areas." No visitors are allowed on administrative campuses through the end of the week, Witty added. How the suspect got to New York City Video of the brazen killing - carried out in full view of pedestrians in the busy Manhattan area - helped investigators determine the suspect's first moves after the shooting, police said. The masked gunman waited for Thompson outside the Hilton Midtown shortly before 7am Wednesday then shot him multiple times before fleeing through an alleyway and getting on an electric bike. He was last seen at 6.48am headed into Central Park, New York police said. Thompson, who lived in Minnesota and was on his way to the hotel to attend his company's annual investor conference, was pronounced dead less than half an hour later. New details are now emerging about the suspect's movements in the days leading up to the shooting. The suspected gunman travelled on a Greyhound bus that started its route in Atlanta, law enforcement sources told CNN. Authorities do not know whether the suspect boarded in Atlanta or elsewhere, sources said. Police believe the assailant arrived at New York City's Port Authority bus terminal on 24 November - 10 days before the shooting - then checked into the Upper West Side hostel, a law enforcement official said. After that, he appears to have moved around the city, the official said. The suspected shooter appeared to wear a mask throughout most of his stay at the hostel, law enforcement sources told CNN. He was housed in a multi-person room with two other males, one source said. The suspect checked out of the hostel on 29 November and checked back in on 30 November, law enforcement sources told CNN. He paid the establishment in cash, according to one source - checking into the hostel using a fake New Jersey driver's license, a law enforcement official previously told CNN. Clues from the crime scene A shell casing recovered from one of the bullets fired at Thompson had the word "depose" written on it, while "delay" was written on a live round that was ejected when the shooter appeared to be clearing a jam, law enforcement sources told CNN on Thursday. Police are exploring whether the words found indicate a motive, pointing to a popular phrase in the insurance industry: "delay, deny, defend". Police are still trying to determine where the suspect got the e-bike, however investigators are developing clues from the burner phone and water bottle believed to have been dropped by the gunman when he fled the shooting scene. A fingerprint was lifted from the water bottle, a law enforcement official told CNN. The print, however, is smudged making it less conclusive, the official said. The phone could yield fingerprints, DNA and - if police technicians can unlock the phone - other clues to the suspect's identity, investigators said. Even a disposable burner phone might yield clues about communications and searches before the shooting. Police on Thursday afternoon were still trying to access that phone, a law enforcement official said. Authorities have not found the gunman's bike, weapon or backpack. A needle in a haystack The suspect could have taken steps after fleeing to Central Park to evade detection, like changing into a different set of clothes, McCabe said. Through Wednesday, police deployed mobile field forces to conduct a grid search, looking through garbage cans, dumpsters and bushes in an extensive search for a missing grey backpack, which the assailant was seen wearing during the shooting, a senior law enforcement official told CNN. Police initiated the search after detectives reviewed security footage of the suspect no longer wearing the backpack after leaving Central Park through the West 77th street exit. - CNNWall Street veteran Art Cashin, known for his no-nonsense approach, has died at 83
The spotlight on Wall Street in the week ahead will be on the US Federal Reserve’s last monetary policy decision of this year. The central bank is widely expected to cut interest rates for a third time since September. Besides Fed decision, market participants will have a lot of economic data including retail sales, Q3 GDP growth, personal income, and PCE (Personal Consumption Expenditures) index. Among the earnings, some big companies are scheduled to announce their quarter results, including Micron Technology, FedEx, Accenture, and Nike. Economic calendar On December 16 (Monday), separate reports on Empire State manufacturing survey for December, S&P flash US services PMI and S&P flash manufacturing PMI for December will be released. On December 17 (Tuesday), separate reports on US retail sales for November, industrial production for November, and home builder confidence index for December will be released. On December 18 (Wednesday), FOMC interest rate decision will be declared and Fed Chair Powell’s press conference is also scheduled. On December 19 (Thursday), data on GDP (second revision) Q3 and existing home sales for November will be unveiled. On December 20 (Friday), separate reports on personal income (nominal) and personal spending (nominal) for November, PCE index for November, and consumer sentiment (final) for December will be released. Earnings Following companies are due to report third quarter earnings in the week ahead — Heico, Amentum Holdings, Worthington Enterprises, Micron Technology, Lennar, General Mills, Jabil, Toro, Accenture, Nike, Cintas, FedEx, Paychex, and Winnebago. Markets last week US stocks closed subdued on Friday. The Dow Jones Industrial Average fell 86.06 points, or 0.20%, to 43,828.06, the S&P 500 lost 0.16 point to 6,051.09 and the Nasdaq Composite gained 23.88 points, or 0.12%, to 19,926.72. The yield on the 10-year Treasury rose to 4.40% from 4.34%. Oil prices climbed about 2% on Friday, on expectations that additional sanctions on Russia and Iran could tighten supplies. Brent futures rose $1.08, or 1.5%, to settle at $74.49 a barrel. US West Texas Intermediate crude rose $1.27, or 1.8%, to settle at $71.29."Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" Thanks for your interest in Kalkine Media's content! To continue reading, please log in to your account or create your free account with us.
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