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Renewed Economic Concerns Contribute To Sell-Off On Wall Street
Stocks moved sharply lower over the course of the trading day on Tuesday, with the major averages more than offsetting the strong gains posted last Friday. With the steep drop, the Dow pulled back well off the record closing high set in the previous session. The major averages climbed off their worst levels going into…
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U.S. Steel Shows Weakness, Boeing Under Pressure, Unity Software Should Show Initial Strength
Shares of U.S. Steel (NYSE:X) are seeing significant pre-market weakness after Vice President Kamala Harris express opposition to the sale of the steel producer to Japan’s Nippon Steel. Aerospace giant Boeing (NYSE:BA) may also come under pressure after Wells Fargo downgraded its rating on the company’s stock to Underweight from Equal Weight. On the other…
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Manufacturing Sector Activity Report Due
The Institute for Supply Management is scheduled to release its report on activity in the manufacturing sector in the month of August at 10 am ET. The ISM’s manufacturing index is expected to tick up to 47.5 in August after falling to 46.8 in July, but a reading below 50 would still indicate contraction. Also…
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Futures Pointing To Initial Pullback On Wall Street
The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to give back ground after ending last Friday’s trading sharply higher. Traders may look to cash in on the previous session’s gains amid lingering uncertainty about the outlook for interest rates. The Federal Reserve is almost universally expected…
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U.S. Stocks Fluctuate Before Closing Sharply Higher
Stocks fluctuated over the course of the trading session on Friday before eventually ending day sharply higher. The Dow closed higher for the fifth time in the past six sessions, reaching a new record closing high. The major averages reached new highs for the session going into the close of trading. The Nasdaq surged 197.19…
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U.S. Consumer Prices Increased As Expected
A highly anticipated report released by the Commerce Department on Friday showed U.S. consumer prices increased in line with economist estimates in the month of July, while the annual rate of price growth was unexpectedly flat. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after inching…
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Positive Reaction To Inflation Data May Lead To Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Friday after the Commerce Department released readings on U.S. consumer price inflation that are said to be preferred by the Federal Reserve. The report showed consumer prices increased in line with economist estimates in the month of July, while the annual rate…
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U.S. Stock Futures Rise Ahead of Key Inflation Report; Oil Prices Rise Amid Supply Concerns
U.S. stock futures rose in pre-market trading on Friday as investors focused on the PCE index report for July. This inflation data, closely watched by the Federal Reserve, could influence the Fed’s future monetary policy decisions. As of 4:58 AM, Dow Jones futures (DOWI:DJI) gained 56 points, or 0.14%. S&P 500 futures rose 0.38%, and…
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Dell Stock Rises 6% Premarket on Strong Revenue Beat, Elastic Shares Plunge 27% After Lowering Revenue Forecasts
Dell Technologies (NYSE:DELL) – The computer and technology solutions company beat estimates with total revenue of $25 billion (+9% YOY), above the expected $24.1 billion. Net income was $841 million, or $1.17 per share, compared to $455 million, or $0.63 per share last year. The infrastructure group’s revenue grew 38% to $11.64 billion, beating the…
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Intuitive Machines Soars 18% on NASA Contract, Intel Considers Splitting Operations, Dell Reassesses Selling SecureWorks
Intuitive Machines (NASDAQ:LUNR) – NASA awarded Intuitive Machines a $116.9 million contract to deliver six payloads to the lunar south pole. This marks the company’s fourth contract under NASA’s Commercial Lunar Payload Services initiative, with the second lunar mission in final assembly stages. Shares are up 18.3% pre-market, after closing up 3.2% on Thursday. Intel…