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“A more stable Fed is going to lead to more stable markets over time,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management in Horsham, Pennsylvania letter g cufflinks. “Some of the sharp moves in the market were driven by the fact that Fed tightening is starting to have an impact on economic growth and financial conditions.”. For the S&P, Wednesday’s advance marked the benchmark index’s longest streak of gains since mid-September, just before it started retreating from its record high..
Shares in Constellation Brands Inc (STZ.N) sank 12.42 percent, dragging down the consumer staples index .SPLRCS, after the Corona brewer cut its fiscal 2019 profit outlook. Advancing issues outnumbered declining ones on the NYSE by a 2.28-to-1 ratio; on Nasdaq, a 1.91-to-1 ratio favored advancers. The S&P 500 posted no new 52-week highs and one new low; the Nasdaq Composite recorded 27 new highs and 5 new lows. Volume on U.S letter g cufflinks. exchanges was 8.0 billion shares, compared with the 9.0 billion-share average over the last 20 trading days..
(Reuters) – Amazon.com Inc founder and Chief Executive Jeff Bezos, the world’s richest person, and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday. Jeff Bezos, 54, has a fortune that has soared as high as $160 billion thanks to his stake in Amazon, which again became Wall Street’s most valuable company this week, surpassing Microsoft Corp letter g cufflinks. Bezos has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon, an online bookseller that grew into the world’s largest internet retailer..
MacKenzie Bezos, a Princeton graduate who is now a novelist, did accounting for Amazon for its first year after it was founded in 1994 letter g cufflinks. The couple decided to divorce after a long period of “loving exploration” and trial separation, and expect to remain partners in ventures and projects, according to the joint statement. Amazon shares ended up 0.2 percent on Wednesday. The divorce should have no material impact on the company and its shares, said Tom Forte, an analyst at DA Davidson & Co..
According to Refinitiv Eikon data, MacKenzie does not hold any Amazon shares directly, while Bezos has a 16.1 percent stake worth about $130 billion. Forbes magazine now estimates his overall net worth at $137.1 billion. Liat Sadler, a San Francisco matrimonial lawyer, noted that spouses owe a fiduciary duty to one another. “They have duties not to waste or devalue marital resources, and to keep the value of marital property as high as possible,” she said letter g cufflinks. “I don’t think there is an issue of concern for shareholders as to what will happen to Amazon because of the divorce.”..