How major US stock indexes fared Friday, 10/4/2024

How major US stock indexes fared Friday, 10/4/2024

U.S. stocks closed higher after a surprisingly strong U.S. jobs report raised optimism about the economy. The S&P 500 added 0.9% Friday and neared its all-time high set on Monday. The Dow climbed 0.8% and reached its own record. The Nasdaq rose 1.2%. Banks, cruise-ship operators and other companies whose profits can benefit the most … Read more

Minneapolis 10-year-old arrested for driving stolen car through playground

Minneapolis 10-year-old arrested for driving stolen car through playground

Minneapolis police have arrested a 10-year-old boy for driving a stolen car through a school playground, nearly hitting playing children. The incident occurred on 20 September at Nellie Stone Johnson School, with the boy now facing second-degree assault charges. Police records show the child has over 30 prior entries, including auto theft and assault. The … Read more

Fed made ‘mistake’ slashing rates by half a point: Larry Summers

Fed made ‘mistake’ slashing rates by half a point: Larry Summers

Former US Treasury Secretary Larry Summers says September’s better-than-expected jobs report shows the Federal Reserve’s half-point rate cut was “a mistake.” Following the Labor Department’s report that employers added 254,000 jobs in September – well above the 140,000 gain that was predicted by LSEG economists – and the unemployment rate declined slightly from a month ago to 4.1%, Summers … Read more

Ubisoft shares jump following reports of Tencent, Guillemot family considering buyout

Ubisoft shares jump following reports of Tencent, Guillemot family considering buyout

LOS ANGELES — Shares of Ubisoft jumped more than 30% Friday, following reports that Tencent and the Guillemot family are considering a buyout of the video game maker. Bloomberg news reported that Tencent and Guillemot family — minority stakeholders in Ubisoft — have been discussing ways to stabilize the company after it lost more than … Read more