Category: Market Summary

Following the lackluster performance seen in the previous session, stocks moved sharply higher over the course of the trading day on Wednesday. With the strong upward move, the S&P 500 closed above 5,600 for the first time ever. The major averages saw further upside going into the close, ending the day near their highs of…

OpenAI, Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL) – Microsoft has given up its observer seat on OpenAI’s board, which has attracted regulatory attention in Europe and the US, following improvements in the AI startup’s governance over the past eight months. Apple, which recently integrated OpenAI’s ChatGPT into its devices, also opted not to take on the observer…

Stocks showed a lack of direction over the course of the trading session on Tuesday, with the major averages bouncing back and forth across the unchanged line before eventually ending the day narrowly mixed. Despite the choppy trading, the Nasdaq and the S&P 500 once again reached new record closing highs. While the Dow (DOWI:DJI)…

BP plc (NYSE:BP) – BP expects weak margins in its refining business to impact its second-quarter profits by up to $700 million. The decline in refining margins, due to excess renewable diesel in the US, is the main cause. Shares fell 3.5% in pre-market trading. Morgan Stanley (NYSE:MS) – Mike Wilson, Chief Investment Officer at…

U.S. stocks ended mixed on Monday, turning a bit sluggish after a fairly good start. Among the major averages, the Nasdaq and the S&P 500 moved on to record highs, while the Dow ended in negative territory. Optimism about the outlook for interest rates aided stocks earlier in the session. However, the mood turned a…

Paramount Global (NASDAQ:PARA) – Skydance Media and Paramount Global announced a merger, with Skydance acquiring National Amusements for $2.4 billion before merging with Paramount. This union will create a company valued at $28 billion, offering $4.5 billion to shareholders and adding $1.5 billion to Paramount’s balance sheet. The deal improves offers to the Redstone family…

Stocks moved mostly higher over the course of the trading day on Friday, with the major averages all moving to the upside after turning in a mixed performance early in the session. The Nasdaq and the S&P 500 closed higher for the fourth straight session, once again reaching new record closing highs. The major averages…

Tesla (NASDAQ:TSLA) – The Tesla Model Y was included for the first time on a list of plug-in electric and hybrid vehicles that a local government in China can acquire as a service car. This information was disclosed by the official Chinese media, The Paper, highlighting that the Jiangsu provincial government published the list on…

After moving mostly higher to start the week, stocks saw further upside over the course of the trading session on Wednesday. With the continued upward move, the Nasdaq and the S&P 500 once again reached new record closing highs in an abbreviated trading session. The Nasdaq (NASDAQI:COMP) advanced 159.54 points or 0.9 percent to 18,188.30…

Apple (NASDAQ:AAPL) – Apple will obtain an observer role on the OpenAI board as part of an AI agreement, with Phil Schiller chosen for the position. This arrangement will allow Schiller to attend board meetings without voting rights, starting later this year. In other related news, a former Apple corporate law director convicted of insider…