The New York Stock Exchange has been selected for Uber's initial public offering, which could give the company a valuation as high as $120 billion, a source said. The IPO is expected to be the biggest in the US this year, sources have said.
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Pinterest is reportedly readying to make its initial public offering filing public as early as today and wants to list its shares on the New York Stock Exchange in mid-April. The image-search company was last valued privately at roughly $12 billion.
Strategists say the Federal Reserve's switch to accommodation is the main reason the US stock market continues to climb, despite concerns about an economic slowdown and a decline in corporate earnings. JPMorgan Chase strategist Marko Kolanovic calls the switch "an enormous shift in monetary policy" and says "it is clear that the dovish turn is here to stay, and this should be a sustained tail wind for risky assets."
The Securities and Exchange Commission has approved amendments to Regulation S-K aimed at simplifying and modernizing disclosure by public companies, consultants and money managers. The amendments are required under the Fixing America's Surface Transportation Act of 2015.
The Financial Industry Regulatory Authority has issued a budget that for the sixth consecutive year doesn't raise fees for members, raising concerns the regulator is increasing reliance on fines to generate revenue.
New York City has settled two lawsuits by agreeing to make sure than the city's sidewalk curbs, roughly 162,000 in total, are accessible to people with vision impairment and mobility issues. A budget of $1.55 billion over 10 years will be dedicated to addressing the issue, a spokesman said.
Disagreements over revenues and licensing policies are putting the future of the campaign to legalize recreational marijuana in New York state in doubt. Opponents of the initiative are working hard to fight the measure and picking up some allies.
The US economy would have grown more than 4% last year if the Federal Reserve hadn't raised interest rates and scaled back bond holdings, President Donald Trump said. US GDP grew 2.9% on an annualized basis in 2018.
BlackRock has brought to NYSE Arca two exchange-traded funds implementing different factor-based investing strategies. The BlackRock US Equity Factor Rotation ETF uses a factor-rotation model to pick stocks, while iShares Focused Value Factor ETF focuses on value stocks.