Stock market drops again, wiping out 2018 gains for the Dow and S&P 500

Specialist Charles Boeddinghaus, center, and trader Michael Milano work on the floor of the New York Stock Exchange on Wednesday, Oct. 24, 2018. The Dow dropped more than 600 points. (Photo: Richard Drew, AP) The stock market sell-off on Wall Street intensified Wednesday, knocking the Dow down more than 600 points and wiping out the gains for…

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‘Rip-roaring hot’ jobs market sees private payrolls surge by 230000, highest since February

If the current pace continues, Zandi said he expects the unemployment rate to fall near 3 percent over the next year. The headline jobless rate currently is at 3.9 percent. The ADP/Moody’s count comes two days ahead of the Labor Department’s closely watched nonfarm payrolls report. Economists also expect that report to show job growth…

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CEOs are cashing in on the market boom

CEOs are using the market boom to quietly cash in their own chips. Insiders at US companies have dumped $5.7 billion of stock this month, the highest in any September over the past decade, according to an analysis of regulatory filings by TrimTabs Investment Research. It’s not a new trend. Insiders, which include corporate officers…

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The stock market may be getting it wrong by rallying in the face of new US-Chinese tariffs

Alden said the administration has potentially boxed itself in by using a different strategy. With Europe, it held off implementation of tariffs allowing room for discussion. Another concern is that the U.S. team is now led by Treasury Secretary Steven Mnuchin, more dovish on trade than other administration officials. “They won’t think he can bring…

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