Bullish sentiment pushes Nasdaq, S&P 500 to records

NEW YORK (AFP) - US stocks had another healthy day of trading on Thursday (Nov 4), with the S&P 500 and Nasdaq again posting records and the Dow dipping only slightly. The continued vigour in equity markets appeared to be driven by positive feeling about Federal Reserve policy, after the US central bank announced on Wednesday it would begin tapering the bond purchases meant to support the economy during the pandemic. Though rising inflation is a concern, markets have generally welcomed the Fed's easy money policies, and Adam Sarhan of 50 Park Investments said investors approve of the slow approach to dialing back its stimulus or raising interest rates. "The Fed has made it very clear that easy money continues to be here to stay for the foreseeable future," he told AFP, noting that much of the growth on Thursday was in sectors that benefit from the low-rate environment. The broad-based S&P 500 climbed 0.4 per cent to close at another all-time high of 4,680.06, while the tech-rich Nasdaq Composite Index gained 0.8 per cent at 15,940.30, also a record. The benchmark Dow Jones Industrial Average dipped 0.1 per cent to 36,124.23. Dow member Verizon Communications dropped 2.1 per cent af...

Mastercard, MatchMove, Idemia to pilot fingerprint biometric card in Asia

Keying in a personal identification number (PIN) or signing a credit card bill may be a thing of the past if consumers take to a biometric card that uses fingerprint authorisation instead. Mastercard has partnered augmented identity firm Idemia and Singapore-based fintech MatchMove to pilot this card in Asia. The F.Code Easy card will make transactions more convenient and secure, and reduce touch points in public places, said the companies on Wednesday. Biometric credentials are stored on a chip on the card, and not a central database, for improved privacy and security. The battery-free card harvests energy from payment terminals to power its fingerprint sensor and is ISO-certified by Mastercard for security and compliance. It was developed by Idemia in line with Mastercard's specifications. Digital payments start-up MatchMove will issue 200 to 500 biometric cards to employees of Mastercard, Idemia and MatchMove in the fourth quarter of this year. They will use the cards for transactions and live demonstrations during the pilot run. MatchMove told The Straits Times that it is targeting a take-up of 2,000 to 3,000 F.Code Easy cards in Singapore next year. The firm is part of a conso...