Category: Market Summary
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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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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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Tamer-Than-Expected Inflation Data Leads To New Record Highs On Wall Street
With traders reacting positively to closely watched consumer price inflation data, stocks moved sharply higher during trading on Wednesday. The major averages added to Tuesday’s gains, setting new record closing highs. The major averages saw further upside late in the session, reaching new highs for the day. The tech-heavy Nasdaq (NASDAQI:COMP) surged 231.21 points or…
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Nike Cuts Jobs at Converse, Ilya Sutskever Departs from OpenAI, WBD Increases Buyback Offer, and More News
Nike (NYSE:NKE) – Converse, a Nike subsidiary, will cut jobs as part of its ongoing $2 billion cost reduction plan. Nike, affected by cautious consumer spending, will reduce product supply and management layers, along with facing job cuts in its operations. OpenAI – Ilya Sutskever, co-founder and chief scientist of OpenAI, is leaving the company…
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U.S. Stocks Close Mostly Higher After Choppy Trading Session
Stocks fluctuated over the course of the trading session on Tuesday before eventually ending the day mostly higher. The major averages all moved to the upside, with the Dow bouncing back after snapping an eight-day winning streak on Monday. The tech-heavy Nasdaq (NASDAQI:COMP) led the way higher, advancing 122.94 points or 0.8 percent to a…
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Walmart Corporate Job Cuts and Office Centralization, GameStop and AMC Surge, and More News
Walmart (NYSE:WMT) – Walmart is reducing corporate jobs and urging remote workers to move to offices, according to the Wall Street Journal. Smaller offices in Dallas, Atlanta, and Toronto are being redirected to hubs like the headquarters in Bentonville or Hoboken. The company allows part-time remote work but prioritizes office presence. Walmart is about to…
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Dow Snaps Eight-Day Winning Streak After Lackluster Session
Following the strong upward move seen last week, stocks turned in a relatively lackluster performance during trading on Monday. The major averages moved to the upside early in the session but spent the day bouncing back and forth across the unchanged line. The major averages eventually ended the day narrowly mixed. While the Nasdaq rose…
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Arm Sets 2025 Target for AI Chip Development, Amazon and Microsoft Commit Billions to French Investments, and More
Arm Holdings (NASDAQ:ARM) – SoftBank is collaborating with Arm to develop AI chips, aiming to start mass production in 2025. SoftBank is financially contributing, negotiating with manufacturers like TSMC (NYSE:TSM). Amazon (NASDAQ:AMZN) – France secured new jobs and investments on Sunday before hosting a foreign investment summit. Macron led the ‘Choose France’ event, aiming to…
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Dow Closes Higher For Eighth Consecutive Session
Stocks moved to the upside early in the session on Friday but showed a lack of direction over the remainder of the trading day. The major averages eventually ended the day mixed, although the Dow closed higher for the eighth consecutive session. While the tech-heavy Nasdaq (NASDAQI:COMP) edged down 5.40 points or less than a…
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Novavax Surges 57% Post $1.4 Billion Sanofi Deal; Apple Boosts Data Centers with AI and Internal Chips, and More News
Novavax (NASDAQ:NVAX), Sanofi (NASDAQ:SNY) – Novavax closed a $1.4 billion deal with Sanofi to commercialize its Covid-19 vaccine and develop a new combined vaccine against coronavirus and influenza, boosting NVAX shares by 56.70% in pre-market. The deal led Novavax to suspend its continuity warning, reversing its previous financial decline. Apple (NASDAQ:AAPL) – Apple plans to…