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Friday, May 3, 2013

Daily Investor Briefing: Dow, S&P 500 close at record levels...

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05/3/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Dow, S&P 500 close at record levels after jobs report
NEW YORK (Reuters) - The Dow and S&P 500 advanced to all-time closing highs on Friday, with major indexes jumping 1 percent after an unexpectedly strong April jobs report eased concerns about an economic slowdown.
Job market resilience eases growth concerns
WASHINGTON (Reuters) - Employment rose faster than expected in April and hiring was much stronger than previously thought in the prior two months, a sign of resilience that should help the economy absorb the blow from belt-tightening in Washington.
Big four U.S. brokerage firms are thriving, not diving: report
NEW YORK (Reuters) - Forecasts of a steady deterioration in profit at Merrill Lynch, Morgan Stanley , Wells Fargo Advisors and UBS Wealth Management Americas are highly exaggerated, analysts at Sanford C. Bernstein & Co. declared in a new report on Friday.
Munger: hard to find Berkshire deals, 'raving mad' not to try
OMAHA, Nebraska (Reuters) - Warren Buffett's Berkshire Hathaway Inc would be "stark raving mad" to rule out another giant acquisition like its 2009 Burlington Northern takeover, but high prices have now made attractive targets scarce, its vice chairman said on Friday.
Wall Street Week Ahead: Few roadblocks to equities' climb after new high
NEW YORK (Reuters) - With Friday's payrolls report serving as a springboard to lift Wall Street stock indexes to fresh all-time highs, investors are left to contemplate whether the gains will fizzle or if the upward momentum will continue.
Insider-trading trial of SAC Capital's Steinberg to start November 18
NEW YORK (Reuters) - A federal judge has set November 18 for the start of the criminal trial of Michael Steinberg, the most senior employee of Steven A. Cohen's hedge fund SAC Capital Advisors to be indicted for insider trading.
U.S. judge blocks $383 million arbitration case against Citigroup
NEW YORK (Reuters) - Citigroup Inc has won an injunction blocking a $383 million arbitration case filed by a Saudi Arabian investor who accused the bank of "virtually wiping out" his family's wealth.
UBS names head of private wealth division in Americas
(Reuters) - Swiss bank UBS AG's U.S. brokerage unit has named a new head for its private wealth management division, as the company looks to expand its business catering to clients with $10 million or more in investable assets.
Chesapeake says director Louis Simpson leaving
(Reuters) - Chesapeake Energy Corp said on Friday that director Louis Simpson has resigned from the U.S. oil and gas company's board of directors and he will be replaced by an executive who was recommended by a top shareholder.
Tesla CEO amends Model S financing deal after criticism
DETROIT (Reuters) - Tesla Motors Inc, the automaker led by billionaire Elon Musk, overhauled financing strategy for the Model S electric sedan in response to criticism that its initial plan last month overstated the potential cost savings.
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