ADVFN US – Market Content Editor
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Positive Reaction To Fed Announcement May Lead To Extended Rally
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to extend the rally seen late in the previous session. The markets may continue to benefit from a positive reaction to yesterday’s monetary policy announcement by the Federal Reserve. While the Fed left interest rates unchanged, as widely…
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U.S. Index Futures Rise as Fed’s Dovish Outlook Spurs Positive Investor Sentiment; Oil Prices See Minor Declines
U.S. index futures are showing an uptrend in Thursday’s pre-market, driven by the record close of the three major indexes in the previous session and the more “dovish” stance than anticipated by the Federal Reserve at the end of its latest monetary policy meeting. At 6:48 AM, Dow Jones futures (DOWI:DJI) were up 90 points,…
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Apple Pre-Market Drop Due to Antitrust Threats, Surprising Profit Boosts Micron Shares, and Latest Market Updates
Apple (NASDAQ:AAPL) – Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), Match Group (NASDAQ:MTCH), and X joined Epic Games in protesting against Apple, accusing it of violating an injunction by restricting payment options in the App Store, claiming price inflation and competition hurdles. Furthermore, the U.S. Department of Justice is preparing to sue Apple for alleged antitrust law…
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Reddit sets IPO price at $34 per share
Reddit Inc. has set its initial public offering (IPO) price at the upper limit of its projected range or $34.00 per share, people familiar with the matter told The Wall Street Journal on Wednesday. This would place the company’s valuation at $6.4 billion, the sources told The Wall Street Journal earlier. The social media giant…
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BMW’s Q4 revenue up 8.7% to €43 billion
The BMW Group stated on Thursday that its revenue for the fourth quarter of fiscal 2023 increased by 8% to €42.9 billion, while for the entire year, it logged a total profit of €155 billion, 9% higher than in 2022. In the three months to December 31, 2023, the car maker’s net profit rose 20%…
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Cohere Nears $500 Million Funding at a $5 Billion Valuation Amid AI Startup Boom
Cohere, a burgeoning artificial intelligence startup renowned for developing foundational models rivalling those of ChatGPT’s creator, OpenAI, is reportedly on the brink of securing a substantial $500 million in funding. This new injection of capital is set to elevate the Toronto-based firm’s valuation to an impressive $5 billion, as disclosed by a source privy to…
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Fed Maintains Rate Cut Projections, U.S. Stocks Hit Record Highs Amid Growth Optimism
In a significant development that has buoyed the U.S. stock market to record levels, the Federal Reserve has affirmed its stance on rate cuts for 2024, despite witnessing stronger-than-expected economic growth. This announcement comes as a relief to investors who had been adjusting their expectations for the central bank’s easing measures amidst signs of robust…
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Micron Surges on Unexpected Profit, Five Below and Guess Report Mixed Results
In a notable turn of events, Micron Technology (NASDAQ:MU) delivered a surprising profit report, surpassing analysts’ predictions and setting an optimistic profit outlook for the upcoming period. The renowned memory-chip manufacturer not only projected a significant profit but also anticipated fiscal third-quarter revenues to be between $6.4 billion and $6.8 billion. This forecast notably exceeds…
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U.S. Stocks Rally To Record Highs Following Fed Announcement
Stocks showed a lack of direction throughout much of the trading session on Wednesday before rallying following the Federal Reserve’s monetary policy announcement. The major averages all showed strong moves to the upside, reaching new record closing highs. The major averages reached new highs for the session in the final hour of trading, ending the…
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Federal Reserve Holds Rates Steady, Market Responds Positively Amid Future Cut Projections
In a move widely anticipated by investors, the Federal Open Market Committee (FOMC) maintained interest rates within the 5.25% to 5.50% range this Wednesday. This decision aligns with the consensus view among market participants and follows the FOMC’s “Dot-Plot” report projections, which indicate an expectation for three 25 basis-point cuts throughout the year. Shortly after…