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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 higher open on Friday, with stocks likely to show a lack of direction following the substantial downturn seen over the course of the previous session. Traders may take a step back following the recent volatility in the markets, which saw stocks surge on…
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U.S. Index Futures Steady Ahead of Key Economic Data and Earnings Reports; Oil Prices Climb
U.S. index futures are little changed in pre-market trading this Friday, with traders focused on the imminent release of June’s producer price index results and the quarterly earnings reports from financial sector giants. As of 5:52 AM, Dow Jones (DOWI:DJI) futures were up 31 points, or 0.08%. S&P 500 futures gained 0.08%, while Nasdaq-100 futures…
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Ericsson Reports 14% Profit Increase, UBS Downgrades Tesla Shares, Ozempic Linked to Reduced Dementia Risk
Ericsson AB (NASDAQ:ERIC) – Ericsson AB exceeded analysts’ expectations in the second quarter, benefiting from cost-cutting measures amid a challenging market. The Swedish company reported a 14% increase in adjusted earnings before interest and taxes, reaching $307 million (3.23 billion Swedish kronor), excluding amortizations. Despite a 7% decline in net sales, revenues exceeded projections. The…
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Nasdaq, S&P 500 Pull Back Sharply After Reaching New Record Highs On Inflation Data
Stocks showed a substantial downturn over the course of the trading session on Thursday, with the Nasdaq and the S&P 500 pulling back sharply after reaching new record intraday highs in early trading. The tech-heavy Nasdaq posted a particularly steep loss on the day, plunging 364.04 points or 2.0 percent to 18,283.41, while the S&P…
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SEC Closes Paxos Investigation, Trump Joins Bitcoin Conference, Ether ETFs Anticipation Soars
SEC closes investigation on Paxos without enforcement action The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Paxos Trust Company without taking any enforcement action. The investigation, which focused on the stablecoin Binance USD (COIN:BUSDUSD), was closed after a federal judge ruled that BUSD sales did not violate securities laws. Paxos, which…
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Consumer Prices Edge Down Slightly, First-Time Unemployment Benefit Claims Fell More Than Expected
Consumer prices in the U.S. unexpectedly edged slightly lower in the month of June, according to a highly anticipated report released by the Labor Department on Thursday. The Labor Department said its consumer price index slipped by 0.1 percent in June after coming in unchanged in May. Economists had expected consumer prices to inch up…
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Tamer-Than-Expected Inflation Data May Lead To Extended Rally On Wall Street
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to see further upside following the rally seen over the course of the previous session. The futures turned positive following the release of a highly anticipated Labor Department report showing consumer prices in the U.S. unexpectedly edged slightly…
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U.S. Futures Fall Ahead of CPI Report; Oil Prices Rise on Falling Inventories and Stronger Demand
U.S. index futures registered a decline in pre-market trading this Thursday, ahead of the release of an important inflation report, which could reinforce expectations of an interest rate cut as early as September. At 5:39 AM, Dow Jones futures (DOWI:DJI) fell 50 points, or 0.12%. S&P 500 futures retreated 0.11%, and Nasdaq-100 futures lost 0.10%.…
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Costco Hikes Membership Fees; ON Semiconductor Stock Drops 3%; WD-40 Soars 13% on Strong Q3 Earnings
Costco Wholesale (NASDAQ:COST) – Costco has increased its membership fees by $5 for annual members, while the top-tier plan sees a $10 increase. This is the first fee hike since 2017. Shares rose 2.90% in pre-market trading. ON Semiconductor (NASDAQ:ON), Microchip Technology (NASDAQ:MCHP) – Morgan Stanley analysts downgraded ON Semiconductor from “Equal Weight” to “Underweight,”…
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U.S. Stocks Rally Ahead Of Close Watched Inflation Data
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…