Wall Street news today, July 1, 2014: U.S. stock markets were flat on Monday, but that represented good news as the second quarter came to a close. The S&P 500 and Nasdaq finished up for a sixth consecutive quarter, and the S&P 500 posted its best second-quarter gain since 2009.
France's largest bank, BNP Paribas, will pay a fine of $8.8 billion for breaching U.S. sanctions on Iran and Sudan, making it the largest penalty in history for such a violation.
The BNP Paribas fine will settle a criminal investigation probe launched by the U.S. Treasury Department, the Department of Justice, the Manhattan District Attorney's Office and the New York Department of Financial Services.
Today, Shah Gilani let some wicked punches fly, debunking the legitimacy of Wall Street's "Dark Pools" on NPR's popular talk show On Point.
As Shah himself said: "This is about how the market has been undermined and how it could collapse one day, literally, and trillions of dollars could be lost in a matter of days."
Wall Street news today, May 20, 2014: The Dow Jones Industrial Average was up on Monday despite the fact that a megadeal between the world's leading drug companies fell through. Tech and small-cap stocks saw the strongest performances on the day.
Stock market today, May 15, 2014 The Dow Jones Industrial Average slumped from record highs yesterday on concerns of rising inflation. Producer prices increased 0.6% in April, the largest increase since September 2012. Economists had predicted a rise of just 0.2%.
Premarket movers today, May 14, 2014: The Dow Jones Industrial Average rose to a new closing record on Tuesday of 16,715.44. The S&P 500 hit a record intraday high, touching over 1,900 for the first time ever.
Financial news today, May 8, 2014: The Dow Jones Industrial Average jumped Wednesday after Fed Chair Janet Yellen told the Joint Economic Committee of Congress that the U.S. economy needed additional support to buffer the "considerable slack" in the labor market. Yellen also stressed risks in the housing market and rising geopolitical tensions.
This morning (Thursday), U.S. futures are flat on positive Chinese trade data and the anticipation of jobless claims.
Wall Street news today, May 5, 2014: U.S. futures were in the red on Monday morning after new data indicated that Chinese manufacturing decreased for the fourth consecutive month in April. On Friday, all three major indices slipped after April's jobs report indicated erosions in the workforce participation rate.
"The markets are not rigged."
That's what U.S. Securities and Exchange Commission Chairwoman Mary Jo White told a House of Representatives panel on Tuesday.
She went on to say, "The U.S. markets are the strongest and most reliable in the world."
Of course she's right. The U.S. markets are the strongest and most reliable in the world.
High-frequency trading (HFT) has an evil cousin: dark pools.
While dark pools are not inherently bad, the abuse of dark pools by the high-frequency traders has created a whole series of problems that can harm both large and small investors.