Wednesday, 7 July 2021

Reuters Business: S&P 500, Nasdaq post record closing highs after Fed minutes

S&P 500, Nasdaq post record closing highs after Fed minutes

U.S. stocks ended higher on Wednesday and the S&P 500 and Nasdaq notched record closing highs after minutes from the last Federal Reserve meeting indicated officials may not be ready yet to move on tightening policy.

Dozens of U.S. states sue Google alleging antitrust violations

Dozens of U.S. state attorneys general filed an antitrust lawsuit in federal court against Alphabet Inc's (GOOGL.O) Google on Wednesday, according to an entry in the court docket.

EXCLUSIVE Brazil's Petrobras price hikes show company's independence -CEO

Brazil President Jair Bolsonaro was not consulted or informed about state oil giant Petrobras' (PETR4.SA) decision this week to raise fuel prices, which underscores the company's independence, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday.

U.S. urges 'very substantial' prison term for Michael Avenatti over Nike extortion

The once high-flying California lawyer Michael Avenatti deserves a "very substantial" prison sentence for trying to extort millions of dollars from Nike Inc (NKE.N), U.S. prosecutors told a judge.

Wall St ends higher following Fed minutes

U.S. stocks ended higher on Wednesday after minutes from the last Federal Reserve meeting showed officials were divided on economic signals.

Fed discussed design for possible standing repo facility, minutes show

Federal Reserve officials continued to discuss in June how they could potentially structure a permanent facility for supporting U.S. money markets, according to minutes from the central bank's last policy meeting released on Wednesday.

Robinhood IPO faces threat of retail snub on Reddit

Online brokerage Robinhood Markets Inc, which helped enable the "meme stock" frenzy earlier this year and later attracted flak for its handling of the trading mania, is facing pushback on social media forums against its initial public offering.

S&P 500 edges higher, holds gains after Fed minutes

The S&P 500 rose slightly on Wednesday and held its gains after the Federal Reserve released the minutes from its last meeting, which showed officials divided on economic signals.

Fed keen to be 'well positioned' to act on inflation, other risks, minutes show

Federal Reserve officials last month felt substantial further progress on the U.S. economic recovery "was generally seen as not having yet been met," but agreed they should be poised to act if inflation or other risks materialized, according to the minutes of the central bank's June policy meeting.

Six things to know about the Pentagon's defunct JEDI contract

The U.S. Defense Department canceled its $10 billion JEDI cloud-computing project this week, reversing the Trump-era award to Microsoft Corp (MSFT.O) and announcing a new contract expected to include its rival Amazon.com Inc (AMZN.O) and possibly other cloud players.

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