IEX Group, Critical of Wall St., Gains Approval for Stock Exchange

IEX Group, Critical of Wall St., Gains Approval for Stock Exchange

America is getting a new stock exchange from the most prominent critics of high-frequency trading.

After months of delays and a brutal lobbying battle that divided Wall Street, the IEX Group won approval on Friday from the Securities and Exchange Commission to become the nation’s 13th official stock exchange.

IEX Group, Critical of Wall St., Gains Approval for Stock Exchange

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Dow Closes Above 17,000 as Stock Rally Outpaces Economy

The stock market, continuing a remarkable ascent that began in the darkness of the last recession, surged past a milestone on Thursday after a strong jobs report indicated that the economy might finally be gaining steam.

The Dow Jones industrial average, which measures the share price performance of 30 blue-chip companies, broke through 17,000 for the first time. It closed at 17,068.26, up 92.02 points, or 0.54 percent. The Standard & Poor’s 500-stock index, a broader yardstick, finished the day within striking distance of 2,000, closing up 10.82 points, or 0.55 percent, at 1,985.44, a record.

Dow Closes Above 17,000 as Stock Rally Outpaces Economy – NYTimes.com.

 

China Restarts IPO Engine

China has reopened its market for initial public offerings after shutting it for more than four months, the Wall Street Journal reported today. The mainland IPO market has been touch-and-go for several years due to generally dismal performance, with Chinese regulators instituting temporary halts in new IPOs in an attempt to shore up the market. That’s left many Chinese companies strapped for cash in a slowing economy.

China Restarts IPO Engine – MoneyBeat – WSJ.