Today: 25.09.2018
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Wall Street hits new highs on robust retail, investor optimism.

Wall Street continued its rally on Friday with record closing highs as the fourth-quarter earnings season kicked off with solid results from banks and robust retail sales drove investor optimism about economic growth. The S&P 500 and Nasdaq both registered their eight record closing highs out of the first nine trading days of 2018, while...
Time: 18:18     Date: 12.01.2018
Last US Business News: Wall Street hits new highs on robust retail, investor optimism. NY Post 24 - US News

The S&P 500 and Nasdaq both registered their eight record closing highs out of the first nine trading days of 2018, while the Dow boasted its sixth closing high of the year.

JPMorgan, the biggest US lender by assets, said the US tax overhaul would help future profits by reducing its tax bill and stimulating more business. The bank’s shares rose 1.7 percent.

“The fact all the big money center banks beat on the bottom line is a good omen for the rest of the earnings season,” said William Lynch, director of investments at Hinsdale Associates, in Hinsdale, Ill.

Investors were also hopeful 2018 financial forecasts from US companies would beat Wall Street estimates as many analysts may not have tax savings fully reflected in their models because the tax bill was signed into law so late in December.

“I don’t know how much of that is priced in right now,” said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco. “It seems like the economy is going OK, inflation is kind of nonexistent right now, wage growth is not an issue for most income statements, so what’s not to like here.”

Earnings for S&P 500 companies are expected to increase on an average by 12.1 percent in the quarter, with profit for financial services companies likely to increase 13.2 percent, according to Thomson Reuters I/B/E/S.

BlackRock rose 3.3 percent. The world’s largest asset manager reported profit that beat estimates as investors flooded into the relatively low-cost funds.

While Wells Fargo earnings beat expectations, its shares slipped 0.7 percent after it set aside $3.25 billion in the fourth quarter to cover legal expenses related to probes into its mortgage and sales practices.

The Dow Jones Industrial Average rose 228.46 points, or 0.89 percent, to 25,803.19, the S&P 500 gained 18.68 points, or 0.67 percent, to 2,786.24 and the Nasdaq added 49.29 points, or 0.68 percent, to 7,261.06.

For the week, the S&P rose 1.6 percent, compared with the Dow’s 2 percent rise and a 1.8 percent advance in the Nasdaq.

The S&P consumer discretionary index jumped 1.3 percent after retail sales data showed households bought more goods, suggesting the economy exited 2017 with strong momentum.

Amazon rose 2.2 percent to breach $1,300 for the first time. It closed at $1,305.20.

Business

Last US Business News: Instagram co-founders reportedly resign from company. NY Post 24 - US News
Instagram co-founders reportedly resign from company.
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Last US Business News: Let’s look ahead to the Fed’s December meeting. NY Post 24 - US News
Let’s look ahead to the Fed’s December meeting.
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Last US Business News: Michael Kors shares sink amid Versace rumors. NY Post 24 - US News
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This outfit looks a little flashy for Michael Kors. Shares dropped Monday on reports that the US-based designer of affordable...
Last US Business News: Comcast shares slide over concerns about Sky price tag. NY Post 24 - US News
Comcast shares slide over concerns about Sky price tag.
Shares of Comcast fell 6 percent on Monday, as investors feared the cable giant overpaid for UK pay-TV provider Sky. Comcast...

Opinion

Last US News - Opinion: The mystery of the missing JFK runway. NY Post 24 - US News
The mystery of the missing JFK runway.
Why doesn’t the Port Authority’s plan for a ritzy $10 billion plan to overhaul John F. Kennedy International Airport...
Last US News - Opinion: Carranza mission to make school buses run on time. NY Post 24 - US News
Carranza mission to make school buses run on time.
Kudos to Chancellor Richard Carranza for taking ownership of the city-schoolbus mess. He’s got a lot to clean up if he...
Last US News - Opinion: Enough with the smearing of Brett Kavanaugh. NY Post 24 - US News
Enough with the smearing of Brett Kavanaugh.
A defiant Brett Kavanaugh tells the Senate Judiciary Committee he will not allow the ongoing smears from Democratic sources...
Last US News - Opinion: The assault on Kavanaugh is proving Trump voters right. NY Post 24 - US News
The assault on Kavanaugh is proving Trump voters right.
The attempted political assassination of Brett Kavanaugh is bad for the country, but good for a Trumpian attitude toward...
Last US News - Opinion: Drive to destroy Kavanaugh is the worst of feminism. NY Post 24 - US News
Drive to destroy Kavanaugh is the worst of feminism.
The Democratic response to the allegation that 3 ¹/₂ decades ago, Supreme Court nominee Judge Brett Kavanaugh assaulted...

Living

US Living News: New study shows grade school girls read better than boys. NY Post 24 - US News
New study shows grade school girls read better than boys.
Grade-school girls have consistently outperformed boys in reading skills over the past 27 years, a new study has found. Girls...
US Living News: Story behind teen’s incredible survival after being stranded at sea. NY Post 24 - US News
Story behind teen’s incredible survival after being stranded at sea.
The Indonesian teen already had one of the loneliest jobs on the planet. For $130 a month for the past three years, Aldi...
US Living News: Experts say your posture is terrible and wrecking your health. NY Post 24 - US News
Experts say your posture is terrible and wrecking your health.
Slouching is nothing to shrug at. Experts say that poor posture — long regarded as a mere aesthetic concern that made sufferers...
US Living News: Can these weird gizmos really correct poor posture?. NY Post 24 - US News
Can these weird gizmos really correct poor posture?.
Reporter Lauren Steussy tries them out and posture pros weigh in. Balancing act Because it creates instability, this inflated...
US Living News: These senior citizens held a field day and served up major #fitspo. NY Post 24 - US News
These senior citizens held a field day and served up major #fitspo.
There was volleyball, mini-tennis and a jubilant dance competition at the Upper East Side’s Asphalt Green on Friday, where...
US Living News: Girl gets safety pin stuck up nose. NY Post 24 - US News
Girl gets safety pin stuck up nose.
A 10-year-old girl needed surgery after getting a safety pin wedged up her nose. Moumita Let was apparently using the clasp...
US Living News: Scrabble adds 300 new words, including the long-awaited ‘OK’. NY Post 24 - US News
Scrabble adds 300 new words, including the long-awaited ‘OK’.
Scrabble players, time to rethink your game because 300 new words are coming your way, including some long-awaited gems:...
US Living News: Prisons ban visitors from wearing tampons to prevent ‘contraband’. NY Post 24 - US News
Prisons ban visitors from wearing tampons to prevent ‘contraband’.
RICHMOND, Va. — Women who visit inmates at Virginia prisons will be barred from wearing tampons or menstrual cups under...

Business

Last US Business News: Instagram co-founders reportedly resign from company. NY Post 24 - US News
Instagram co-founders reportedly resign from company.
Co-founders of Facebook’s Instagram, Kevin Systrom and Mike Krieger, have resigned and plan to leave the photo-sharing...
Last US Business News: Let’s look ahead to the Fed’s December meeting. NY Post 24 - US News
Let’s look ahead to the Fed’s December meeting.
The Federal Reserve’s policy committee is meeting Tuesday and Wednesday. But let’s not talk about that. Instead, let’s...
Last US Business News: Michael Kors shares sink amid Versace rumors. NY Post 24 - US News
Michael Kors shares sink amid Versace rumors.
This outfit looks a little flashy for Michael Kors. Shares dropped Monday on reports that the US-based designer of affordable...
Last US Business News: Comcast shares slide over concerns about Sky price tag. NY Post 24 - US News
Comcast shares slide over concerns about Sky price tag.
Shares of Comcast fell 6 percent on Monday, as investors feared the cable giant overpaid for UK pay-TV provider Sky. Comcast...
Last US Business News: NFL ratings continue upward trend. NY Post 24 - US News
NFL ratings continue upward trend.
It’s still early in the season, but the NFL’s TV ratings are showing signs of life. Buoyed by viewer interest in the...
Last US Business News: Jerome Powell expected to make rare comments this week. NY Post 24 - US News
Jerome Powell expected to make rare comments this week.
This was pointed out to me the other day. Fed chief Powell hardly ever makes comments on economic events outside of his regular...
Last US Business News: Ernst & Young gets slapped with another sex-harassment suit. NY Post 24 - US News
Ernst & Young gets slapped with another sex-harassment suit.
Ernst & Young has been slapped with yet another lawsuit claiming that its offices are plagued with rampant sex harassment...
Last US Business News: Eddie Lampert pushes plan for Sears to avoid bankruptcy. NY Post 24 - US News
Eddie Lampert pushes plan for Sears to avoid bankruptcy.
Eddie Lampert is really sounding the alarms. The hedge fund mogul and largest shareholder in Sears Holdings claims that “Sears...

Metro

Metro News: Transit Authority boss’ rosy subway outlook: We are ‘turning the corner’. NY Post 24 - US News
Transit Authority boss’ rosy subway outlook: We are ‘turning the corner’.
His rosy outlook may not match the opinions of most straphangers, but NYC Transit Authority boss Andy Byford was filled with...
Metro News: Lawmaker wants pet stores to only sell animals from shelters, rescue groups. NY Post 24 - US News
Lawmaker wants pet stores to only sell animals from shelters, rescue groups.
With Albany struggling to get it done statewide, a dogged Brooklyn pol says he’ll introduce legislation requiring New York...
Metro News: De Blasio dodges questions about plan to fire top watchdog. NY Post 24 - US News
De Blasio dodges questions about plan to fire top watchdog.
Mayor de Blasio on Monday night dodged questions about his involvement in a City Hall plot to sack the city’s top watchdog....
Metro News: Mobster takes plea deal for failed hit on ex-business associate. NY Post 24 - US News
Mobster takes plea deal for failed hit on ex-business associate.
The mob’s Mr. Magoo took a page from “The Sopranos’’ to try to exterminate a rat — but he botched the job. Joseph...
Metro News: Ex-pension chief’s cushy gas company gig raises eyebrows. NY Post 24 - US News
Ex-pension chief’s cushy gas company gig raises eyebrows.
The former top investment official for the state’s mammoth pension fund landed a cushy gig at a natural-gas company after...
Metro News: Inside the massive NYC security operation for UN General Assembly. NY Post 24 - US News
Inside the massive NYC security operation for UN General Assembly.
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Metro News: Ex-NYPD cop who shot mom of his kid claims domestic abuse. NY Post 24 - US News
Ex-NYPD cop who shot mom of his kid claims domestic abuse.
A former NYPD cop fired for shooting the mother of his child in 2015 is suing the city — alleging that she attacked him...
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This is the one slimy creature Cuomo can’t stand.
He’s got a well-deserved reputation as a bare-knuckled political fighter who takes on all comers, but Gov. Cuomo is afraid...

Sport

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Aaron Boone stretching out wild-card mystery as long as possible.
ST. PETERSBURG, Fla. — The only thing Aaron Boone is going public with regarding who will start the Oct. 3 AL wild-card...
Last US Sport News: Yankees are scrambling to justify their Gary Sanchez confidence. NY Post 24 - US News
Yankees are scrambling to justify their Gary Sanchez confidence.
ST. PETERSBURG, Fla. — Gary Sanchez started his 17th game behind the plate Monday night since coming back from his second...
Last US Sport News: Nets loaded with one-year deals — and an uncertain future. NY Post 24 - US News
Nets loaded with one-year deals — and an uncertain future.
The Nets head into training camp Tuesday — and the regular season next month — with a roster rife with players on one-year...
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This is the Henrik Lundqvist the Rangers wanted to see.
This was quite a bit better for Henrik Lundqvist. The Rangers’ franchise netminder bounced back in his second preseason...
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Frank Ntilikina’s improvement is a game of inches.
Frank Ntilikina, with his newly sculpted body, believes he has more versatility to guard different positions. The Knicks...