Category: Market Summary
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Starboard Acquires $1 Billion Stake in Pfizer; Rio Tinto Pursues Acquisition of Arcadium Lithium, and More
Pfizer (NYSE:PFE) – Activist investor Starboard Value acquired about $1 billion in Pfizer shares, seeking changes to improve performance. Former CEO Ian Read and former CFO Frank D’Amelio showed interest in supporting Starboard, according to Reuters. Pfizer is facing a significant decline in COVID-19 vaccine and drug sales, leading to a stock drop. Shares rose…
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Stocks Climb Higher On Upbeat Jobs Data; Dow Hits New Record Closing High
U.S. stocks rallied on Friday, lifting the major averages to a firm close, as upbeat non-farm payroll data helped offset concerns about Middle East tensions and prompted investors to indulge in some brisk buying at several counters from across various sectors. The Dow (DOWI:DJI) settled at a fresh record high at 42,352.75, gaining 341.16 points…
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Upbeat Jobs Data May Contribute To Initial Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to move to the upside after showing a lack of direction over the two previous sessions. The futures climbed more firmly into positive territory following the release of a closely watched Labor Department repot showing much stronger than…
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U.S. Stocks Continue To Experience Choppy Trading Before Closing Modestly Lower
Following the lackluster performance seen during trading on Wednesday, stocks continued to experience choppy trading during Thursday’s session. The major averages once again spent the day bouncing back and forth across the unchanged line. The major averages eventually finished the day modestly lower. While the Nasdaq edged down 6.65 points or less than a tenth…
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Looming Jobs Data May Lead To Another Choppy Trading Day
The major U.S. index futures are currently pointing to a modestly lower open on Thursday, with stocks likely to move back to the downside after ending yesterday’s lackluster session slightly higher. Ongoing concerns about rising tensions in the Middle East may weigh on Wall Street, although trading activity is likely to remain subdued ahead of…
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U.S. Stocks Close Slightly Higher Following Lackluster Session
After recovering from an early move to the downside, stocks showed a lack of direction over the course of the trading session on Wednesday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing slightly higher. The Dow edged up 39.55 points or 0.1 percent to 42,196.52, the…
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Escalating Middle East Tensions May Continue To Weigh On Wall Street
The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to see further downside following the steep drop seen on Tuesday. Concerns about escalating tensions in the Middle East may continue to weigh on Wall Street following Iran’s ballistic missile attack against Israel on Tuesday. While Iran has…
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Middle East Concerns Contribute To Weakness On Wall Street
After moving sharply lower early in the session, stocks regained some ground over the course of the trading day on Tuesday but remained firmly negative. The major averages all moved to the downside on the day, with the tech-heavy Nasdaq leading the way lower. The Nasdaq (NASDAQI:COMP) tumbled 278.81 points or 1.5 percent to 17,910.36,…
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Futures Pointing To Roughly Flat Open On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Tuesday, with stocks likely to show a lack of direction after ending Monday’s choppy trading session mostly higher. Uncertainty about the near-term outlook for the markets may keep some traders on the sidelines following a strong September, which is historically a…
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U.S. Stocks Finish Choppy Trading Day Mostly Higher
Stocks showed a lack of direction over the course of the trading session on Monday before eventually ending the day mostly higher. The major averages all finished the day in positive territory following the mixed performance seen last Friday. The Dow (DOWI:DJI) inched up 17.15 points or less than a tenth of a percent to…