Category: Market Summary
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Nasdaq, S&P 500 Hit New Record Highs Amid Extended Rebound
Extending the rebound seen during Wednesday’s session, stocks moved sharply higher during trading on Thursday. The major averages further offset the notable pullback seen to start the week, with the Nasdaq and the S&P 500 bouncing back to record intraday highs. The tech-heavy Nasdaq (NASDAQI:COMP) surged 241.83 points or 1.5 percent to 16,273.38, ending the…
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Wall Street in Anticipation: Powell’s Testimony and Upcoming Jobs Data Take Center Stage
Wall Street traders are treading cautiously as they await Federal Reserve Chairman Jerome Powell’s upcoming testimony and the critical jobs data due later this week. Amidst this anticipation, the euro experienced a dip following the European Central Bank’s (ECB) decision to maintain interest rates and lower its inflation outlook. This move has heightened expectations for…
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Tesla Exits Market Top 10, Victoria’s Secret Stock Tumbles 30% on Weak Forecast
Tesla (NASDAQ:TSLA) – Tesla exited the top 10 largest US companies by market cap for the first time in 13 months, surpassed by Visa (NYSE:V). The stock drop reflected concerns about margins and demand. Elsewhere, Tesla announced its departure from Australia’s main automotive lobby, accusing it of misleading consumers about fuel efficiency standards. The company…
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Global Markets Pause Near Record Highs as Yen Surges Amid BOJ Rate Hike Speculation
Global stock markets hovered near all-time highs while the Japanese yen experienced a significant surge as confidence grew that the Bank of Japan (BOJ) would finally begin to raise interest rates in March, making it the last of the major central banks to do so. European stocks remained steady, and Nasdaq 100 futures saw a…
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U.S. Stocks Move Back To The Upside Following Powell Testimony
Following a notable pullback to start the week, stocks moved mostly higher during trading on Wednesday. The major averages all moved to the upside on the day but remain well off their recent record highs. The major averages finished the day off their highs of the session but still in positive territory. The Nasdaq (NASDAQI:COMP)…
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Powell Expects Fed Rate Cuts, Warns Inflation Progress Uncertain
Federal Reserve Chair Jerome Powell said on Wednesday that the ongoing progress of inflation is “not guaranteed,” although the central bank still expects to lower its benchmark interest rate this year. “If the economy evolves as expected, it will likely be appropriate to begin easing monetary policy at some point this year,” Powell stated in…
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U.S. Stock Futures Gain Ahead of Economic Insights; Oil Prices Climb
U.S. index futures signal a higher opening after two days of declines, with the market focusing on the ADP survey and the Fed’s Beige Book, seeking clues about the future economy and monetary policy. At 05:31 AM, Dow Jones futures (DOWI:DJI) rose 92 points, or 0.24%. S&P 500 futures advanced 0.39%, and Nasdaq-100 futures increased…
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Wall Street Strategists Divided Over Potential Market Bubble Amid Stock Surge
The nearly 10% surge in major U.S. stock indices in just over two months this year has left strategists from JPMorgan Chase (JPM) and Goldman Sachs (GS) split over the possibility of a bubble forming in the market. Marko Kolanovic, chief strategist at JPMorgan, sees the dramatic rise in U.S. stocks and the rapid ascent…
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U.S. Stocks Move Sharply Lower Ahead Of Powell Testimony
Following the modest pullback seen during the previous session, stocks showed a more substantial move to the downside during trading on Tuesday. The major averages all moved notably lower, with the tech-heavy Nasdaq (NASDAQI:COMP) showing a particularly steep drop. The major averages climbed off their worst levels going into the close but remained firmly negative.…
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Global Markets Update: A Close Look at Bayer, Target, Gitlab, Tesla, Amazon, and More
Rental and Financial Sectors Ashtead, a rental company, anticipates its rental income growth to be at the lower end of the 11-13% range for the financial year, signaling cautious optimism. Banque Cantonale de Genève reported record profits and dividends, showcasing strength in the banking sector. Pharmaceutical and Security Industries Bayer sets its sights on a…