UnitedHealth Data Hack, Nvidia AI Chips in China, NYSE Gauging 24/7 Trading Interest

In this segment, we cover three major news stories: 1) UnitedHealth Group (UNH) has confirmed that personal data was compromised in a recent cyberattack on its Change Healthcare unit. The company is providing support services and advising people to monitor their financial statements for suspicious activity. 2) Chinese research institutes have been able to purchase Nvidia’s (NVDA) high-end artificial intelligence chips through resellers. The chips were embedded in server products made by Super Micro Computer (SMCI) and Dell Technologies (DELL), and the sale and purchase of these chips are not illegal in China. However, the U.S. has banned Nvidia and its partners from selling high-end chips to China, and the U.S. Commerce Department is monitoring diversions of restricted chips. 3) The New York Stock Exchange (NYSE), owned by Intercontinental Exchange (ICE), has started polling market participants on their interest and potential implications for an exchange that trades stocks 24/7. The survey underscores increasing interest in trading stocks in off-hours and comes after 24 Exchange, backed by Steven Cohen’s Point72 hedge fund, applied with the Securities and Exchange Commission to start the first 24-hour exchange. Wall Street’s major market averages were able to rebound on Monday, with the Nasdaq (COMP:IND) being the strongest performer ending higher by 1.1%. All of the 11 S&P sectors ended trading higher on Monday with Tech and Financials on top.

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