ADVFN US – Market Content Editor
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Iron Ore Skyrockets Amid Stimulus Expectations and Robust Demand Forecast
Iron ore futures experienced an uptick on Tuesday, fueled by optimism over potential economic stimulus actions aimed at revitalizing the Chinese economy and the expectation of sustained demand. Closing at 980.5 yuan ($137.22) per metric ton, the most actively traded May iron ore contract on the Dalian Commodity Exchange (DCIOcv1) saw a 1.3% increase, recovering…
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Top Company News of the Day: AstraZeneca, Maersk, Amazon, Ben & Jerry’s
AstraZeneca to Buy Gracell Biotechnologies AstraZeneca has agreed to buy Gracell Biotechnologies for a transaction value of $1.2 billion, as part of the former’s efforts to grow its cell therapies business. Fog at Chicago’s Midway Airport Scuttles Southwest Holiday Flights The airline canceled hundreds of flights Sunday and more than 100 on Monday as it…
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U.S. Stocks Close Narrowly Mixed Ahead Of Christmas Weekend
After an early move to the upside, stocks fluctuated over the course of the trading session on Friday before eventually ending the session narrowly mixed. The Nasdaq and the S&P 500 closed modestly higher, while the narrower Dow edged slightly lower. While the Dow slipped 18.38 points or 0.1 percent to 37,385.97, the Nasdaq rose…
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Supply Constraint Worries Push Metals Prices Up
Metals were higher on concerns over supply constraints and a broadly improved market sentiment. Sucden Financial said seasonal activity is expected to pick up in the new year for copper and support prices above the $8,600 a metric ton level. Meantime, gold made solid gains on a weaker dollar, weighed by the prospect of Fed…
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Stocks To Watch: Nike, Berkshire Hathaway, Rocket Lab, Tesla
Nike reported fiscal second-quarter earnings that beat analysts’ expectations but announced a $2 billion cost-cutting plan over the next three years as it expects sales to soften in the second half of fiscal 2024. Its shares dropped 11%, with shares of Dick’s Sporting Goods and Foot Locker down 4.3% and 6.3%, respectively. Berkshire Hathaway purchased…
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Dow Futures Fall as Nike Sinks
Stock futures drifted lower, with Nike shares down more than 10% premarket after it cut its revenue outlook. One last batch of inflation data will test markets before Christmas. A readout on price pressures, personal spending and incomes is due at 8:30 a.m. ET. Economists expect the report to affirm that inflation retreated last month,…
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Top Company News of the Day: US Steel, Nike, Sumitomo, Temu, Shein
White House Says $14.1 Billion U.S. Steel Sale Deserves ‘Serious Scrutiny’ Under the deal, Japan’s Nippon Steel would acquire one of America’s most storied industrial enterprises. Nike Sends Warning About Slowing Consumer Spending Sneaker giant cuts revenue outlook and outlines cost-cutting plan to save up to $2 billion Sumitomo Life to Buy Singapore Insurer in…
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U.S. Stocks Show Strong Move Back To The Upside Following Yesterday’s Pullback
Following the sharp pullback seen late in Wednesday’s session, stocks showed a strong move back to the upside during trading on Thursday. The major averages all moved notably higher, largely offsetting yesterday’s steep losses. The major averages saw further upside going into the close, reaching new highs for the session. The Dow advanced 322.35 points…
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Crypto: Solana Rises Above XRP, Cardano-Petrobras Partnership Elevates Blockchain Learning, and More
Cardano-Petrobras partnership promotes blockchain education for 40,000 employees The Cardano Foundation (COIN:ADAUSD) has teamed up with Petrobras (NYSE: PBR) to educate over 40,000 employees about blockchain through workshops offered by the Cardano Academy at the Petrobras University. This educational program covers the potential of blockchain in the energy sector, explores use cases, and includes interactive…
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U.S. Economy Grew Less Than Expected In 3rd Quarter
The U.S. economy unexpectedly grew by less than previously estimated in the third quarter of 2023, the Commerce Department revealed in a report released on Thursday. The report said real gross domestic product jumped by 4.9 percent in the third quarter, reflecting a downwardly revision from the previously reported 5.2 percent surge. Economists had expected…