ADVFN US – Market Content Editor
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Honeywell Seeks Division Spinoff; Foxconn Expands Production With Nvidia GB200; Chinese Stocks Plunge
Honeywell (NASDAQ:HON) – Honeywell plans to spin off its advanced materials division, which could be worth over $10 billion as an independent company. CEO Vimal Kapur is focusing on aviation, automation, and energy, according to WSJ. The advanced materials division serves sectors like retail, pharmaceuticals, buildings, and manufacturing, with $3.65 billion in sales last year.…
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Stocks Fall On Geopolitical Tensions; Major Averages Close Notably Lower
U.S. stocks fell on Monday amid easing prospects of aggressive rate cuts by the Federal Reserve following a much higher than expected addition in U.S. non-payroll employment in the month of September. Investors also awaited earnings announcements from major banks, and some crucial economic data, including readings on consumer price and producer price inflation. The…
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Ethereum EIP 7781 Proposal Boosts Throughput; Moodeng Surges 400%; Drainer Halts TON Blockchain Operations
EIP 7781 proposal aims to increase Ethereum network throughput The Ethereum community is evaluating the EIP 7781 Improvement Proposal, which suggests reducing the slot time from 12 to 8 seconds, increasing throughput by about 33%. This change would better distribute rollup latency and data capacity, improving bandwidth usage. Researcher Justin Drake supported the proposal, stating…
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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 Monday, with stocks likely to give back ground following the strong upward move seen last Friday. Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on the strong gains posted in the previous session.…
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U.S. Stock Futures Dip on Global Tensions; Oil Prices Rebound
U.S. index futures edged down slightly in pre-market trading on Monday, with investors focused on international tensions, the Federal Reserve’s meeting minutes, the Consumer Price Index report, and the start of the corporate earnings season this week. At 05:03 AM, Dow Jones futures (DOWI:DJI) fell 176 points or 0.41%. S&P 500 futures lost 0.53%, and…
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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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Bitcoin Surges on Positive Jobs Data; Coinbase to Delist Unlicensed Stablecoins in EU; Bitwise Launches BITC
Bitcoin reacts positively to US employment data Bitcoin (COIN:BTCUSD) rose about 2.3% on October 4, reaching an intraday high of $62,348.87 after US employment data exceeded expectations. 254,000 non-farm jobs were added in September, compared to the forecast of 147,000. The market responded optimistically, with both the S&P 500 and Nasdaq also rising. Inflation data…
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U.S. Employment Up More Than Expected
A closely watched report released by the Labor Department on Friday showed employment in the U.S. increased by much more than expected in the month of September. The Labor Department said non-farm payroll employment jumped by 254,000 jobs in September after climbing by an upwardly revised 159,000 jobs in August. Economists had expected employment to…
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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…