The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. * Federal Reserve Chairwoman Janet Yellen has argued consistently in recent months that labor markets are abundant with slack that will hold inflation and wages down. But she hasn't convinced all her colleagues. Minutes of the Fed's April 29-30 policy meeting showed a lengthy debate on this subject and suggested labor-market slack will become an important battleground in the central bank's coming discussions about how long to continue its low-interest-rate policies. (r.reuters.com/pyj59v)* Goldman Sachs Group Inc is ceding most of its ground on the New York Stock Exchange's trading floor. IMC Financial Markets, a Dutch high-speed trading firm, agreed on Wednesday to acquire Goldman's rights to operate as a designated market maker in more than 600 New York Stock Exchange-listed stocks, according to Scott Knudsen, IMC's Chicago-based head of trading. IMC will also hire about 15 floor brokers from the Wall Street firm. (r.reuters.com/tyj59v)
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 1.92% or $3.0/share to $159.35. In the past year, the shares have traded as low as $148.71 and as high as $181.13. On average, 3325860 shares of GS exchange hands on a given day and today's volume is recorded at 4226325.
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