Market steady after record week as tech fades
Wall Street held near records with the S&P 500 at 5021.84 and the Nasdaq down 0.3 percent while the Dow rose to 38797.38. Diamondback Energy jumped 9.4 percent on a $26 billion cash and stock deal to buy Endeavor Energy Resources. Bezos disclosed sales of about 12 million Amazon shares worth over $2 billion, with further filings showing 50 million shares planned for sale around Feb. 7.
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Wealth gaps widen as White net worth outpaces Black and Hispanic peers
New York Fed data show White households' real net worth grew 30 percentage points over Black families and 9 points over Hispanic families from 2019 Q1 to 2023 Q2 amid rapid market gains and strong jobs. The report notes higher stock ownership among White households and pension emphasis for Black wealth, while inflation cooled yet recession risks remain.
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Elon Musk must testify again in Twitter takeover probe
A Northern California federal judge ordered Elon Musk to testify a third time in the SEC's review of his 2022 44 billion Twitter purchase. The order sets a one week window to settle the date and location, with options including Texas where Musk resides.
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