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Trump names billionaire investment banker Warren Stephens as his envoy to BritainStock market today: Rising tech stocks pull Wall Street to another record

NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid a mixed Monday of trading. The S&P 500 rose 0.2% from its all-time high set on Friday to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 28.7% to lead the market. Following allegations of misconduct and the resignation of its public auditor , the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company’s board. It also said that it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 3.2% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 0.5% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street’s frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 5% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday . Target, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.2%. Walmart , which gave a more optimistic forecast, rose 0.2%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.4%. All told, the S&P 500 added 14.77 points to 6,047.15. The Dow fell 128.65 to 44,782.00, and the Nasdaq composite climbed 185.78 to 19,403.95. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget . The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday’s headliner report to show U.S. employers accelerated their hiring in November, coming off October’s lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

NEW YORK , Dec. 2, 2024 /PRNewswire/ -- Tannenbaum Helpern is pleased to announce that Anne-Mette Elkjær Andersen has joined the Firm as partner in the Firm's Corporate practice. Anne-Mette is a highly qualified corporate attorney focusing on cross border and U.S. mergers and acquisitions, international business transactions, and corporate transactions and corporate compliance for engineering & architecture firms. Her decades of experience include advising clients on strategic purchases and sales in many sectors, including engineering, architecture, and other licensed professional design professions; defense; software; renewable energy; oil and gas; technology; retail and manufacturing; service; aviation; and shipping and rail, among others. Anne-Mette comes to Tannenbaum Helpern from the New York office of Holland & Knight, where she counseled clients on international M&A, financing and securities, performed regulatory and licensing work for professional design corporations, and assisted startup and emerging growth companies enter the U.S. market. Her clients include U.S. and foreign established privately and publicly held corporations and emerging companies on stock and asset sales, joint ventures, and SPAC matters, among others. Her experience also includes advising foreign bank clients on loan and financing agreements involving U.S.-based subsidiaries of foreign clients. Anne-Mette's primary experience is with private strategic buyers and sellers, and she also has experience in public and private securities offerings and initial public offerings (IPOs), including simultaneous offerings both in the U.S. and internationally. Anne-Mette began her career in Denmark as a lawyer with the Danish Ministry of Justice. She also spent four years with the Danish law firm Reumert & Partners (now Kromann Reumert), primarily in the areas of general corporate law, M&A and insolvency law. While practicing in Denmark , Anne-Mette represented, among others, U.S., Canadian, and Danish corporations in M&A transactions and other corporate matters. Managing Partner Andrew W. Singer commented, "Anne-Mette will expand our Corporate and M&A practices, facilitate increased opportunities for our clients and increase our ability to pursue new client relationships, especially in overseas markets and the professional design professions. Welcome, Anne-Mette!" "Anne-Mette is a welcome addition to Tannenbaum Helpern . Her capabilities and international reach add to our existing platform and relationships, both in the U.S. and globally," said Drew Jaglom , Chair of Tannenbaum Helpern's Corporate practice. Regarding her arrival, Anne-Mette added, "It's my privilege to join Tannenbaum Helpern . I'm excited to be a part of such a talented team of attorneys, and a Firm that is focused on the future!" About Tannenbaum Helpern Since 1978, Tannenbaum Helpern Syracuse & Hirschtritt LLP has combined a powerful mix of insight, creativity, industry knowledge, legal talent and experience to successfully guide clients through periods of challenge and opportunity. Our mission is to deliver the highest quality legal services in a practical and efficient manner and to provide the judgment, common sense and legal acumen of well trained, business minded lawyers, all within a culture that fosters an inclusive and respectful workplace. Through our commitment to exceptional service and driven by a focus on results, Tannenbaum Helpern continues to earn the loyalty of our clients and a reputation for excellence. For more information, visit www.thsh.com . Jennifer Papantonio Chief Marketing & Business Development Officer papantonio@thsh.com 212.702.3147 View original content to download multimedia: https://www.prnewswire.com/news-releases/anne-mette-elkjaer-andersen-joins-tannenbaum-helpern-as-partner-in-the-firms-corporate-practice-group-302320136.html SOURCE Tannenbaum Helpern Syracuse & Hirschtritt LLP © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Is Enron back? If it's a joke, some former employees aren't laughing

What a bunch of bird brains. Everybody wants their Thanksgiving turkey to stand out , but home chefs in one state are flying a little over the nest by trying to brine tomorrow’s dinner at a public saltwater beach, officials say. Famed for its salinity levels ranging from two to nine times higher than the ocean, Utah’s Great Salt Lake has gained something of a reputation in the heavily populated Wasatch Front region as a place to drop off your holiday main course for an outdoor bath before cooking. But after a turkey washed ashore on a popular beach near Salt Lake City earlier this week, state park honchos felt compelled to warn against the practice on social media. Along with cautioning that the lake’s salt content is “too high for a proper brine,” a spokesperson added, “the waves can be very strong and there’s a good chance you could lose the entire turkey.” While the bizarre stunt meant another trip to the grocery store for the unknown individual, it also resulted in a belly laugh for some online viewers. “I’m not sure what’s funnier, the fact that this apparently happened or that someone thought you could brine a turkey without taking the packaging off,” one commented on the post. “Vibe just died,” added another. While salt water — adhering to correct salinity levels, of course — is a common method employed t bring out the juiciness of a turkey, one social media foodie suggests another approach for tomorrow’s big meal. Daryll Postelnick, who runs the popular Instagram page Cooking With Darryl , suggests using milk as a brine. “The milk and the buttermilk together, they break down the proteins — or the proteins in there break down the turkey, get inside and really make it juicy,” the culinary pro told Fox News . “This brine, I mean — I was able to literally cut the drumstick and the entire back came off with it, dripping with juice. It was awesome,” he said. Meanwhile, cooks prepping their sides might want to stop and think about using one popular stuffing brand — said to be banned in the UK, EU and Japan over ingredients that have been linked to cancer, The Post reported earlier.NoneMarketAxess to Participate in the Goldman Sachs Financial Services Conference