ADVFN US – Market Content Editor
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New Home Sales Report, Two-Year Note Auction Results Due
The Commerce Department is scheduled to release its report on new home sales in the month of February at 10 am ET. Economists expect new home sales to surge to an annual rate of 680,000 in February after jumping to a rate of 661,000 in January. At 10:30 am ET, Federal Reserve Board Governor Lisa…
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Tech Sector Weakness May Weigh On Wall Street
The major U.S. index futures are currently pointing to a lower open on Monday, with stocks likely to move to the downside after ending last Friday’s choppy session mixed. Weakness among technology stocks may weigh on the markets, as reflected by the 0.5 percent drop by the Nasdaq 100 futures. Shares of Intel (NASDAQ:INTC) and…
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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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Crypto: AIOZ Network Partners with Alibaba Cloud, Google Integrates ENS Domain Balances, and Key Updates
Correction in the cryptocurrency market and future prospects The cryptocurrency market has experienced a significant correction last week, with bitcoin (COIN:BTCUSD) losing over 11% in the past 7 days, despite a slight recovery in value post-FOMC meeting. JPMorgan (NYSE:JPM) warns that the downtrend optimism among investors, especially concerning the expected price increase due to bitcoin’s…
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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. Index Futures Point to Record Highs Amidst Best Weekly Rally of 2024, Oil Edges Higher
In the pre-market trading on Friday, U.S. index futures are slightly up, signaling new record highs. This momentum is an extension of the recovery that began with the Federal Reserve’s recent decision on Wednesday. With this advance, the three major indexes are on track to record their best weekly performance of the year 2024. At…
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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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Crypto: Bitcoin ETFs Experience 3 Consecutive Days of Outflows, CryptoPunk Fetches $16.42M in Sale, and More
Cryptocurrencies react positively to interest rate cut prospects The Federal Reserve’s maintenance of the federal funds rate at 5.25 – 5.50% and the indication of a balance sheet reduction adjustment influenced various markets. The Fed’s balance sheet has grown by 59% since January 2020, reaching $7.542 trillion. This policy has caused notable fluctuations in Bitcoin…
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First-Time U.S. Unemployment Claims Unexpectedly Down
A report released by the Labor Department on Thursday unexpectedly showed a slight drop by first-time claims for U.S. unemployment benefits in the week ended March 16th. The Labor Department said initial jobless claims edged down to 210,000, a decrease of 2,000 from the previous week’s revised level of 212,000. The dip surprised economists, who…