All articles tagged with #stock market update
The Dow Jones Industrial Average hit a new high, while Spirit Airlines anticipates a larger-than-expected loss. Elon Musk plans to move SpaceX and X headquarters to Texas. Traders expect a Federal Reserve interest rate cut in September. San Francisco faces record-high commercial vacancies, prompting mayoral candidate Mark Farrell to propose revitalization plans.
Major U.S. stock indices closed higher on Monday, with the Dow Jones hitting a record high. Fed Chair Jerome Powell indicated that interest rate cuts might come before inflation hits 2%. Former President Donald Trump made a public appearance at the Republican National Convention following an assassination attempt, and his media company's shares surged. General Motors may not meet its EV production target for next year, according to CEO Mary Barra. Apple released a public beta of iOS 18, featuring significant updates to core user interface elements.
Investors should note that the S&P 500 and Nasdaq are on track for a winning week despite a slight pullback on Thursday. AI company Anthropic launched its new model, Claude 3.5 Sonnet. Gilead's experimental HIV shot showed 100% effectiveness in a late-stage trial. Trump Media's stock fell 15% amid high trading volume. Amazon is replacing plastic air pillows with paper fillers in its packaging.
US stocks were mostly flat on Thursday after a tech-driven rally, with Nvidia shares dipping below the $3 trillion market cap. The S&P 500 hovered near its record close, while the Nasdaq slipped 0.2%. Investors are weighing new labor data and the potential for interest rate cuts, with a 69% chance of a September rate cut now anticipated. The European Central Bank also cut interest rates by 25 basis points. Key individual stock movements included Lululemon's 4% rise after boosting its profit outlook.
The S&P 500 and Nasdaq Composite hit new records, with Nvidia surpassing a $3 trillion market cap. Walmart is introducing new training programs and bonuses for employees. The FTC is preparing an antitrust lawsuit against Southern Glazer's Wine and Spirits. Boeing successfully launched its first crewed Starliner flight to the ISS.
Dow Jones futures rose modestly early Wednesday, with S&P 500 and Nasdaq futures also up. CrowdStrike and Hewlett Packard Enterprise saw significant gains on strong earnings, while Nvidia continued its upward trend. Key economic data, including the ISM services index and ADP Employment Index, are due, amid concerns of slowing economic growth. The stock market had a mixed session Tuesday, with major indexes slightly up but small caps down. Tesla's Elon Musk diverted Nvidia AI chips to his other ventures, raising concerns about his commitment to Tesla. Investors are advised to be cautious in this uncertain market.
Investors should note the Dow's slight decline due to weak manufacturing data, the potential $8 billion Paramount-Skydance merger, Google's layoffs in its cloud unit, meme stock leader Keith Gill's continued GameStop holdings amid scrutiny, and Spotify's second price hike in a year for its premium subscription plans.
Investors should note that May was a strong month for stocks, with the Nasdaq, S&P 500, and Dow Jones all posting gains. Nvidia and AMD have announced new AI chips, while OPEC+ has extended crude production cuts into 2025. GameStop shares surged on speculation about Keith Gill's holdings, and Ford has invested nearly $1 billion in restoring a historic train station for its new tech campus.
Rising Treasury yields negatively impacted major stock indexes, with the Dow Jones falling the most. Salesforce shares dropped over 15% in premarket trading due to weaker-than-expected revenue. ConocoPhillips announced a $17 billion acquisition of Marathon Oil, expanding its shale field assets. Abercrombie & Fitch reported its strongest first quarter ever, with sales and profits significantly exceeding expectations. Nelson Peltz sold all his Disney stock, making about $1 billion after losing a proxy battle last month.
The Nasdaq Composite hit a new high, driven by Nvidia's surge, while the Dow fell due to declines in health stocks. T-Mobile plans to acquire most of U.S. Cellular for $4.4 billion. Former FTX executive Ryan Salame received a 90-month prison sentence. American Airlines lowered its Q2 outlook and announced the departure of its chief commercial officer. GameStop shares soared after raising nearly $1 billion from selling common shares.
The S&P 500, Dow Jones, and Nasdaq all closed lower on Wednesday, with the Dow dropping over 400 points. Despite Nvidia's recent surge, it wasn't enough to lift the overall market. Hedge funds are heavily invested in Big Tech, with Nvidia's performance being a significant factor. Bank of America remains optimistic about Insmed's lung disease treatment, while equity volatility is at low levels. ConocoPhillips announced a $17 billion acquisition of Marathon Oil, furthering industry consolidation. Dick's Sporting Goods and Abercrombie & Fitch reported strong earnings, boosting their stock prices.
Stocks fell Wednesday due to inflation concerns but showed signs of recovery Thursday morning. Nvidia's strong earnings and stock split boosted market sentiment. The Federal Reserve remains cautious on inflation, keeping interest rates unchanged. Amazon plans to enhance Alexa with generative AI and introduce a subscription fee. General Motors launched an all-electric Chevrolet Equinox amid slower-than-expected EV demand.