Category: Latest News
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U.S. Stocks Move Modestly Lower After Seeing Early Strength
Stocks moved to the upside early in the session on Thursday but fluctuated over the course of the trading day before eventually closing modestly lower. The major averages partly offset the strong upward move seen over the two previous sessions. While the Dow (DOWI:DJI) climbed above 40,000 for the first time in morning trading, the…
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Strong Institutional BTC ETF Adoption, CME Group Ventures into Bitcoin Spot Trading, and More Crypto News
Bitcoin reacts to interest rate cut expectations In the last 24 hours, Bitcoin (COIN:BTCUSD) is trading at $65,850, after reaching a high of $66,772 during the day. The cryptocurrency appreciated following new US inflation data that increased the chances of interest rate cuts by the Fed in the coming months. This expectation also affects other…
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US Industrial Production Unchanged in April
Industrial production in the United States in April remained unchanged in April compared to the month prior, the Federal Reserve shared in its report posted on Thursday. The industrial output fell 0.4% year over year. Manufacturing production edged down 0.3% month on month and 0.5% compared to April 2023. Mining lost 0.6% compared to March…
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April US Import Prices, Export Prices Both Rise Faster Than Expected
US import prices rose by 0.9% in April, well above the 0.3% increase expected in a survey compiled by Bloomberg as of 7:40 am ET and following a 0.6% gain in March. U.S. import prices rose by the most in two years in April amid rising costs for energy products and other goods, suggesting that…
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Traders May Take A Breather Following Yesterday’s Rally
The major U.S. index futures are currently pointing to a roughly flat open on Thursday, with stocks likely to show a lack of direction after surging to record highs in the previous session. Traders may pause to assess the outlook for the markets following yesterday’s rally, which came as consumer prices rose by less than…
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US initial jobless claims down by 10,000 to 222,000
The number of seasonally adjusted initial jobless claims in the United States saw a weekly decline of 10,000 to 222,000 in the seven days ending May 11, the Department of Labor revealed in its report published on Thursday. The 4-week moving average grew by 2,500 to hit 217,750. The advance seasonally adjusted insured unemployment rate…
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US housing starts up by 5.7% in April
Privately‐owned housing starts in the United States saw a monthly increase of 5.7% in April to reach 1,360,000, the US Census Bureau unveiled in its report published on Thursday. Compared to April 2023, the figure declined by 0.6%. Single-family housing starts decreased by 0.4% month-on-month to land at 1,031,000. Privately‐owned housing completions rose by 8.6%…
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Daily Analyst Recommendations Update: Ecolab, Cisco, Shopify…
Each morning, we compile a selection of analysts’ recommendations. This list includes companies that have experienced a change in opinion or price target, or have come under new coverage. The list may be updated during the session, providing insights into stock movements or market sentiment towards a company. Devon Energy Corporation (DVN) Ecolab Inc. (ECL)…
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Chubb Stock Soars 9% with Berkshire Acquisition, AST SpaceMobile jumps 37% on AT&T deal, and More News
Berkshire Hathaway (NYSE:BRK.A), Chubb (NYSE:CB) – Chubb’s stock increased by approximately 9.3% after Berkshire Hathaway disclosed its acquisition of nearly 26 million shares of the property and casualty insurer, representing a $6.7 billion investment. As a result, Chubb became Berkshire’s ninth-largest holding by the end of March, as recorded in a new regulatory document. Netflix…
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US Stock Futures Rise Amid Softer Inflation, Oil Prices Dip
U.S. index futures show a slight uptick in pre-market trading on Thursday, buoyed by softer-than-expected inflation. This optimistic scenario has helped the S&P 500 surpass the 5,300 point mark for the first time, signaling potential relief in inflationary pressures and rejuvenating investor spirits. At 6:37 AM, the Dow Jones (DOWI:DJI) futures rose by 16 points,…