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Apollo and Workday to Join S&P 500 After Index Rebalancing

(Bloomberg) -- Apollo Global Management Inc. has been added to the S&P 500 index in the latest quarterly weighting change, joining alternative asset manager Blackstone Inc. on the world’s most-watched equity gauge. Workday Inc. has been included too.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectThe two companies will

Wall Street adds to stock, rate cut bets after 'Thanksgiving buffet' jobs data

BOSTON/LONDON (Reuters) -Global stocks advanced as investors raised their bets on the prospect of a U.S. interest rate cut this month after payrolls data showed strong job growth in November, while the euro dipped against the dollar as political turmoil gripped France. Futures markets put an 85% chance on the U.S. Federal Reserve cutting rates by 25 basis points at its Dec. 17-18 meeting after the data, compared with 68% earlier in the session. Nonfarm payrolls increased by 227,000 jobs last month after rising an upwardly revised 36,000 in October, in a month hit by hurricanes and strikes.

S&P 500, Nasdaq hit record closing highs; Lululemon gains, data supports rate cut view

NEW YORK (Reuters) -The Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as U.S. jobs data fueled expectations the Federal Reserve would cut interest rates this month. The Dow finished lower, as a 5.1% drop in UnitedHealth Group shares weighed on the index. The S&P 500 consumer discretionary index rose 2.4% to hit an all-time closing high.

US dollar advances, fades earlier sell-off ahead of next week's inflation

NEW YORK (Reuters) -The U.S. dollar rose on Friday, as earlier selling, amid a jobs report showing higher unemployment and modest job gains overall, lost momentum ahead of an inflation report next week that could either reinforce or cast doubts on interest rate cut expectations later this month. Against the yen, the dollar advanced from session lows to trade little changed at 150 yen. "Noisy (payrolls) report but soft enough to reinforce the positioning adjustment across FX," Mark McCormick, head of foreign exchange and emerging market strategy at TD Securities, wrote in a research note.