Category: Market Summary
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Donald Trump’s Stock Market Deal For Truth Social Passes, And Could Give Him Billions
Trump Media, the owners of the social media platform Truth Social, is about the become a publicly listed company, as it is due to be acquired by Digital World Acquisition Corp after a shareholder vote on Friday. Trump will have at least a 58% stake in the merged company, worth almost $3 billion. Digital World,…
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U.S. Stocks Close Mixed On The Day But Sharply Higher For The Week
After trending higher over the past several sessions, stocks turned in a relatively lackluster performance during trading on Friday. The major averages fluctuated over the course of the session before eventually ending the day mixed. While the Nasdaq (NASDAQI:COMP) inched up 26.98 points or 0.2 percent to a new record closing high of 16,428.82, the…
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FedEx Soars 13% with Profits Above Forecasts, Nike Hit by China Slowdown, and Latest News
FedEx (NYSE:FDX) – FedEx exceeded profit forecasts for the quarter, posting an adjusted profit of $3.86 per share, higher than the $3.45 per share expected by analysts consulted by LSEG. However, the company’s revenue did not meet estimates. FedEx also announced a $5 billion share buyback program. FedEx shares rose 12.6% in pre-market trading. Nike…
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U.S. Stocks Pull Back Well Off Best Levels But Closely Mostly Higher
Stocks showed a strong move to the upside in early trading on Thursday but gave back ground over the course of the session. While the major averages pulled back well off their best levels of the day, they still ended the session at new record closing highs. The Dow (DOWI:DJI) finished the day firmly in…
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U.S. Index Futures Rise as Fed’s Dovish Outlook Spurs Positive Investor Sentiment; Oil Prices See Minor Declines
U.S. index futures are showing an uptrend in Thursday’s pre-market, driven by the record close of the three major indexes in the previous session and the more “dovish” stance than anticipated by the Federal Reserve at the end of its latest monetary policy meeting. At 6:48 AM, Dow Jones futures (DOWI:DJI) were up 90 points,…
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U.S. Stocks Rally To Record Highs Following Fed Announcement
Stocks showed a lack of direction throughout much of the trading session on Wednesday before rallying following the Federal Reserve’s monetary policy announcement. The major averages all showed strong moves to the upside, reaching new record closing highs. The major averages reached new highs for the session in the final hour of trading, ending the…
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Federal Reserve Holds Rates Steady, Market Responds Positively Amid Future Cut Projections
In a move widely anticipated by investors, the Federal Open Market Committee (FOMC) maintained interest rates within the 5.25% to 5.50% range this Wednesday. This decision aligns with the consensus view among market participants and follows the FOMC’s “Dot-Plot” report projections, which indicate an expectation for three 25 basis-point cuts throughout the year. Shortly after…
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U.S. Index Futures Trade Sideways Amid Anticipation of Fed’s Policy Update; Oil Prices Dip
In Wednesday’s pre-market trading, U.S. index futures were trading sideways, reflecting investors’ caution after a positive session, with focus turning to the upcoming Federal Reserve monetary policy update. As of 6:31 AM, Dow Jones futures (DOWI:DJI) were down 31 points, or -0.08%. S&P 500 futures declined by -0.06%, and Nasdaq-100 futures gained 0.03%. The yield…
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Market Watch: Fed Decision, Samsung-Nvidia Tie-Up, UK Inflation Dip
Fed’s Policy Meeting Draws to a Close Investors and market observers are on high alert as the Federal Reserve wraps up its two-day policy meeting, with widespread anticipation that interest rates will remain on hold. The spotlight is on Chair Jerome Powell’s upcoming press conference and the Fed’s updated economic forecasts, especially after Powell’s earlier…
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Fed March meeting expected to hold rates
United States Federal Reserve’s Federal Open Market Committee (FOMC) is largely expected to keep its key interest rate unchanged during its monetary policy meeting on March 19 and 20. However, rate cuts are expected in 2024 and the market will be looking for clues on the timing. The current federal funds rate target range is between 5.25% and 5.50%.…