Showing posts with the label June 06
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Thursday, June 6, 2013 TOP STORY S.E.C. Freezes Assets of Thai Trader in Smithfield Inquiry The Securities and Exchange Commission froze the assets of a trader based in Bangkok on Thursday, as it investigates a purported insider trading scheme tied to Smithfield Foods' $4.7 billion sale to a Chinese meat processor. DEALBOOK » DEALBOOK HIGHLIGHTS Standard Deduction: Despite Tax Rules, Companies Stick With U.S. Victor Fleischer says that two new papers help explain why nearly all new companies with headquarters in the United states choose to incorporate and pay tax here. DEALBOOK » Former Interior Secretary Salazar Joins WilmerHale Ken Salazar, who recently stepped down as Interior Secretary, is joining WilmerHale as a partner, the law firm announced on Thursday. DEALBOOK » From Blankfein, a Horatio Alger Story for New Graduates In a commencement address to graduating students of LaGuardia Community College, Lloyd C. Blankfein
Stocks End Near Highs, Dow Claws Back Above 15,000 After Dropping Over 100 Points: Wall Street at Close Report by CNBC, June 06, 2013.
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Stocks closed out a volatile session on Wall Street in positive territory Thursday after a brief drop that pushed the S&P 500 below 1,600, amid caution ahead of the government's monthly jobs report and as the U.S. dollar tumbled against the Japanese yen. "They yen is triggering everything," said Art Cashin, director of floor operations at UBS Financial Services. "They're worried about liquidations of carry-trade positions . It spills over into all the markets. And all the markets are a lot thinner than normal because a lot of people are standing aside because of tomorrow's [jobs] number." Stocks briefly tumbled to session lows in midday trading as the greenback fell below 98 yen for the first time in over a month, before rebounding near session highs in the final hour of trading. (Read More: Dollar and Stocks Could Be Ready to Part Ways ) Name Price