U.S. Stocks Close Sharply Higher, Tech Stocks Help Lead The Way

(RTTNews) – Stocks moved sharply higher during trading on Monday, extending the strong upward move seen over the past few sessions. The continued advance once again lifted the major averages to their best closing levels in over a month.

The major averages gave back some ground in the latter part of the trading day but remained firmly positive. The Dow advanced 250.62 points or 0.9 percent to 28,837.52, the Nasdaq spiked 296.32 points or 2.6 percent to 11,876.26 and the S&P 500 jumped 57.09 points or 1.6 percent to 3,534.22.

Technology stocks helped to lead the markets higher, as reflected by the significant advance by the tech-heavy Nasdaq.

Apple (AAPL) posted a standout gain, surging up by 6.4 percent, while Facebook (FB) and Google parent Alphabet (GOOGL) also moved notably higher.

Shares of Twitter (TWTR) also showed a strong move to the upside after Deutsche Bank upgraded its rating on

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Atlassian Close To All-Time High Ahead Of Earnings (NASDAQ:TEAM)

Application software firm Atlassian (TEAM) has performed extremely well over the last few years. The stock is up almost 145% over the last two years, while the S&P 500 is up a far more modest 21%. Even when compared to the iShares Expanded Tech-Software Sector ETF (IGV), Atlassian has gained twice as much as the sector.

Atlassian is getting ready to report fiscal first-quarter results in the next few weeks, and the stock is trading near an all-time high ahead of that earnings report. I wasn’t able to find the exact earnings date, as the company didn’t have the event on its Investor Relations page just yet. Several websites, including the Wall Street Journal, have the earnings report coming out on October 15. Based on the fact that Q4 2020 results were released on July 30 and third-quarter results were released on April 30, I am thinking the report

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Gladys Berejiklian says she was in ‘close personal relationship’ with former MP when he resigned | Australia news

The premier of New South Wales, Gladys Berejiklian, was in a “a close personal relationship” with a former MP when he was forced to resign from parliament amid a corruption scandal.

But the premier has denied knowing about improper conduct by the former Wagga Wagga MP Daryl Maguire, telling the Independent Commission Against Corruption on Monday she “made the assumption that he was always doing the right thing”.

The NSW Icac is investigating allegations Maguire misused his position as an MP and parliamentary secretary to improperly gain a benefit for himself or for G8way International, a company he “effectively controlled”.

The inquiry previously heard Maguire sought payments to help broker deals for Chinese property developers, and helped “grease the wheels” of a deal to sell the racing heir Louise Waterhouse’s land near the proposed western Sydney airport in 2017 and 2018.

But in bombshell revelations on Monday, Berejiklian revealed she

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Brexit Deal Close but EU Seeks More Before Starting Final Talks | Investing News

By Guy Faulconbridge, William James and John Chalmers

LONDON/BRUSSELS (Reuters) – European Union chief Brexit negotiator Michel Barnier wants a few more concessions from Britain before entering the last intense phase of negotiations on a trade deal, an EU diplomat said on Friday, as an Oct. 15 deadline looms.

The United Kingdom formally left the EU on Jan. 31, but more than fours years since voting 52%-48% for Brexit in a 2016 referendum, the two sides are haggling over a trade deal that would kick in when informal membership ends on Dec. 31.

The two chief negotiators, Barnier and Britain’s David Frost, say they are inching towards a deal, though they have underscored that important gaps remain on fishing, level playing field issues and governance. Both sides have no-deal plans.

Barnier, who left London on Friday just 12 hours after arriving, wants a few more concessions from Britain before entering

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UK government prepares jobs support if firms forced to close

LONDON (AP) — The British government is on Friday set to announce further support for companies to retain staff in the coming months if they are forced to close as a result of new lockdown restrictions.

With the government likely to tighten restrictions on public life over the coming days to deal with a sharp spike in new coronavirus infections, there are growing concerns that the economy will take a new hit and hundreds of thousands of jobs may be lost.

Treasury chief Rishi Sunak said he understood how “people are worried about the coming winter months.”

He is being urged by businesses, politicians and unions to ensure that firms can survive any further lockdown measures and prevent mass unemployment. Specifically, he is being urged to back local job retention programs, whereby the government steps in to pay the lion’s share of the salaries of workers who are forced to

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Asian shares close in on 2-1/2-year peak as U.S. stimulus hopes return

TOKYO/NEW YORK (Reuters) – Asian shares inched close to 2-1/2-year highs on Friday as revived hopes for a U.S. stimulus deal eclipsed weaker-than-expected jobs data, while mainland Chinese markets jumped after a week-long holiday.

Traders work on the trading floor of the Philippine Stock Exchange amid the coronavirus disease (COVID-19) outbreak, in Taguig City, Metro Manila, Philippines, September 30, 2020. REUTERS/Eloisa Lopez/Files

Investors are also increasingly expecting the Democrats to take back the White House, and possibly the Senate as well, in the Nov. 3 U.S. election, analysts said.

A widening lead for Democratic Presidential candidate Joe Biden is seen as reducing the risk of a contested election and opening the way for a big economic stimulus, helping to counter investors’ wariness about a Democrat pledge to hike corporate tax rates.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.15%, inching closer to

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JPMorgan Chase commits $30B to close racial wealth gap

The Surrogate’s Court building exterior remains vandalized while Occupy City Hall protests continue outside City Hall in New York City on June 30. Photo by John Angelillo/UPI | License Photo

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Purdue close to plea agreement in federal OxyContin investigation: report

Purdue Pharma is close to reaching an agreement to plead guilty to charges related to worsening the opioid epidemic in the U.S., according to an exclusive report from Reuters on Wednesday.

A plea deal between Purdue’s lawyers and federal prosecutors is expected to be announced within the next two weeks, according to six sources close to the situation. Along with criminal charges, negotiations for a civil claim are also ongoing for alleged unlawful conduct in Purdue’s handling of prescription painkillers.

The pharmaceutical company could face penalties exceeding $8 billion. Purdue is accused of engaging in illegal kickback programs that paid doctors and pharmacies to prescribe medically unnecessary opioids. The Sackler family, who control Purdue, are in discussions to pay $225 million for false claims about prescription painkillers. Current settlement discussions will not absolve the Sacklers from criminal liability they may face in the future.

Federal prosecutors launched a federal probe 

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European Stocks Close Higher On Stimulus Hopes, News About Trump’s Recovery

(RTTNews) – European markets closed higher on Monday as prospects of U.S. President Donald Trump’s early discharge from hospital, and optimism about a new U.S. coronavirus relief package underpinned sentiment and prompted investors to create fresh positions.

News about Trump’s recovery and prospects of an early discharge helped ease concerns about political uncertainty in the U.S.

Data showing an unexpected acceleration in U.S. services sector activity in the month of September, and encouraging euro zone retail sales data further aided sentiment.

The pan European Stoxx 600 climbed 0.81%. The U.K.’s FTSE 100 ended up 0.69%, Germany’s DAX surged up 1.1% and France’s CAC 40 advanced 0.97%, while Switzerland’s SMI gained 0.49%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkey closed with sharp to moderate gains, while Iceland edged down marginally.

In the UK market, Rolls-Royce Holdings

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Regal Cinemas Parent Company Cineworld Could Close All Theaters in America and UK

As more and more movies have been pushed to 2021, Regal Cinemas’ parent company Cineworld could be closing all of its theaters in the U.S. and the UK Variety reports that the decision comes after the latest James Bond film, No Time to Die, had been delayed until next year due to coronavirus concerns.

The closures are expected to come within a week at the soonest, and the company has already confirmed the closures are currently being discussed. “We can confirm we are considering the temporary closure of our UK and U.S. cinemas, but a final decision has not yet been reached,” the Cineworld Cinemas Twitter account revealed. “Once a decision has been made we will update all staff and customers as soon as we can.”

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