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Nasdaq manages 5th straight record high close; S&P 500 ends barely lower

By Caroline Valetkevitch NEW YORK (Reuters) -The Nasdaq eked out a fifth straight record closing high on Friday following gains in Adobe and other technology-related shares, while the S&P 500 and Dow ended slightly lower. The S&P 500 ended its four-day run of record closing highs, but still climbed more than 1% for the week. The S&P 500 technology sector rose 0.5%, hitting another record high close. The communication services sector rose 0.6%, leading gains … Read more…

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Exclusive-Boeing tells suppliers it is slowing 737 output goal by 3 months, sources say

By Allison Lampert and Tim Hepher (Reuters) -Boeing has told suppliers it is delaying a key production milestone for its 737 jet family by three months, two industry sources said, as it continues to struggle with a crisis that is hurting output. A new Boeing supplier schedule communicated to the industry calls for 737 output to reach 42 a month in September, compared with a previous target of reaching that output in June, the sources … Read more…

Coca-Cola, Starbucks file to extend trademarks in Russia, newspaper reports

(Reuters) -Coca-Cola and Starbucks have applied to re-register their trademarks in Russia to protect their intellectual property rights after exiting in response to Moscow’s invasion of Ukraine in 2022, domestic business newspaper Vedomosti reported. Coca-Cola filed three trademark applications in April, Vedomosti said, citing documents on the website of Russian intellectual property agency Rospatent. “Intellectual property assets are of high value and importance to the Coca-Cola Company, and we continuously take steps to enhance and … Read more…

How Apple used Google’s help to train its AI models

By Max A. Cherney SAN FRANCISCO (Reuters) – On stage on Monday CEO Tim Cook’s Apple announced a splashy deal with OpenAI to include its powerful artificial intelligence model as a part of its voice assistant, Siri. But in the fine print of a technical document Apple published after the event, the company makes clear that Alphabet’s Google has emerged as another winner in the Cupertino, California, company’s quest to catch up in AI. To … Read more…

Google loses bid to end US antitrust case over digital advertising

By Jody Godoy (Reuters) – Alphabet’s Google must face trial on U.S. antitrust enforcers’ claim that the internet search juggernaut illegally dominates the online advertising technology market, a federal judge ruled on Friday. U.S. District Judge Leonie Brinkema in Alexandria, Virginia, denied Google’s motion during a hearing, according to court records. Google had argued for a win without a trial, saying that antitrust laws do not block companies from refusing to deal with rivals and … Read more…

Economy Propels the Market – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) Even as 272,000 jobs were added in May, surpassing expectations, markets on Friday were struggling to stay above water. Economists were expecting a slowdown of hiring with numbers slipping. The opposite occurred as unemployment edged up slightly to 4%. All three indices closed the day Friday near even, while for the month they were in positive territory. The big news Friday was the bond market as the 10-year Treasury … Read more…

Trump criticizes Ukraine aid, talks tax cuts and tariffs with Republicans

By David Morgan and Andy Sullivan WASHINGTON (Reuters) -Donald Trump on Thursday criticized U.S. aid to Ukraine, urged Republican lawmakers to cut taxes on gratuities and talked up tariffs in a visit to Capitol Hill, participants said, as he sought to build party unity ahead of the Nov. 5 election. In a closed-door meeting, Trump said he would work to expand the party’s narrow 218-213 House of Representatives majority and help re-elect even the two … Read more…

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US job market resembling pre-pandemic environment, Yellen says

(Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said the U.S. employment picture increasingly resembles the job market that existed prior to the COVID-19 pandemic, and slowing wage growth is not a threat to add to inflation. “The labor market has become a little less hot, a little bit more normal. The number of job openings has declined some. We’ve had a burst in labor force participation,” Yellen said in an interview with CNBC. … Read more…

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Broadcom soars as demand for AI chips power forecast raise

By Arsheeya Bajwa (Reuters) – Broadcom surged more than 13% on Thursday as its upbeat annual forecast highlighted an insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. The rising adoption of generative AI has been driving demand for companies such as Broadcom that provide chips and networking tools to support these intensive applications. Broadcom, whose shares have risen 76% in the past 12 … Read more…

Musk says Tesla shareholders voting in favor of his $56 billion pay package

By Hyunjoo Jin, Abinaya V and Greg Roumeliotis (Reuters) -Tesla shareholders were set to approve Elon Musk’s $56 billion pay package in what is being seen as a thumbs-up to his leadership – and an enticement for keeping his focus on the electric vehicle maker. Musk posted a chart on his social media platform X late Wednesday that showed the resolution – and another vote to move the company’s legal home to Texas – were … Read more…

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