ADVFN US – Market Content Editor
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Tech Rally Lifts S&P 500 and Nasdaq to Record Closes
The S&P 500 and Nasdaq Composite both closed at fresh record highs on Thursday as a wave of strong earnings reports and a blockbuster deal in cloud computing gave investors reason to buy, even as geopolitical tensions in the Middle East kept a lid on the Dow. Technology and consumer-facing stocks led the charge, while…
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U.S. weekly jobless claims rise slightly above expectations
New figures released Thursday by the Labor Department showed that applications for unemployment benefits in the United States increased slightly more than economists had anticipated during the week ended May 23. According to the report, initial jobless claims rose to 215,000, up 5,000 from the revised total of 210,000 recorded in the previous week. Economists…
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U.S. inflation data comes in slightly below forecasts in April
Fresh data released Thursday by the Commerce Department showed U.S. consumer inflation increased slightly less than expected in April, offering some signs of easing price pressures. According to the report, the personal consumption expenditures (PCE) price index rose 0.4% in April following a 0.7% increase in March. Economists had projected a monthly gain of 0.5%.…
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U.S. durable goods orders jump sharply in April, topping forecasts
New data released Thursday by the Commerce Department showed that orders for U.S.-manufactured durable goods increased far more than economists had anticipated in April, signaling stronger momentum in the manufacturing sector. According to the report, durable goods orders climbed 7.9% in April following an upwardly revised 1.3% increase in March. Economists had expected orders to…
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Wall Street futures edge lower as oil prices rebound on renewed U.S.-Iran tensions: Dow Jones, S&P, Nasdaq
U.S. stock futures pointed to a slightly weaker open on Thursday, with investors appearing cautious after the previous session ended with modest gains following uneven trading throughout the day. A rebound in crude oil prices pressured sentiment as concerns resurfaced over escalating tensions between the United States and Iran. U.S. crude futures climbed more than…
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Drone stocks rally after report of Pentagon-backed funding discussions
Shares of several U.S. drone manufacturers moved sharply higher Monday after a report from The Wall Street Journal said the Trump administration is considering funding agreements with domestic drone companies to strengthen U.S. production capabilities. Unusual Machines (AMEX:UMAC) surged 25%, while Red Cat (NASDAQ:RCAT) gained 13%. AeroVironment (NASDAQ:AVAV) and Kratos Defense & Security (NASDAQ:KTOS) each…
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Eli Lilly shares edge higher after CVS expands coverage for Zepbound obesity drug (LLY)
Eli Lilly and Company (NYSE:LLY) shares gained about 1% in premarket trading Thursday after CVS Caremark announced it would add the company’s obesity treatment Zepbound to its preferred drug formulary. Lilly said the decision means all three of the largest pharmacy benefit managers in the United States will now provide coverage for the company’s full…
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Sidus Space shares plunge 21% after announcing $100 million stock offering (SIDU)
Sidus Space (NASDAQ:SIDU) shares dropped 21% on Thursday after the aerospace and defense technology company announced plans for a $100 million registered direct offering of Class A common stock. The company priced the offering at $5.08 per share, issuing 19,685,039 shares of Class A common stock and pre-funded warrants. Sidus Space said the transaction was…
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Best Buy shares jump on earnings beat and stronger comparable sales growth (BBY)
Best Buy (NYSE:BBY) shares surged nearly 10% in premarket trading after the electronics retailer reported first-quarter results that topped analyst expectations, supported by improved comparable sales and strength across several key product categories. Adjusted earnings per share came in at $1.28, exceeding the consensus estimate of $1.22 by $0.06. Revenue for the quarter reached $8.94…
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Royal Bank of Canada shares rise after quarterly earnings top expectations (RY)
Royal Bank of Canada (NYSE:RY) posted second-quarter results that exceeded analyst expectations, helping lift shares 2.57% in premarket trading as the lender benefited from broad-based strength across its major business divisions. The bank reported adjusted earnings per share of Cdn$3.90, ahead of analyst estimates of Cdn$3.77. Quarterly revenue totaled Cdn$17.45 billion, surpassing the consensus forecast…