ADVFN US – Market Content Editor
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Top Company News of the Day: EIG, Occidental Petroleum, OpenAI, ABB, Robinhood
EIG Global Energy Partners Expects New LNG Acquisition Within Months The U.S. investment firm wants to increase exposure to the Atlantic Basin gas market. Occidental Petroleum in Talks to Buy Permian Producer CrownRock The deal could value CrownRock well above $10 billion including debt. OpenAI’s New Board Takes Over and Says Microsoft Will Have Observer…
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U.S. Stocks Close Little Changed Ahead Of Key Inflation Data
After ending the previous session modestly higher, stocks showed a lack of direction over the course of the trading day on Wednesday. Despite the choppy trading on the day, the Dow inched up to its best closing level in over three months. The major averages eventually ended the day narrowly mixed. While the Dow crept…
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Beige Book Reveals Economic Slowdown in the United States
The economic activity in the United States decelerated between October and November, with six out of the 12 districts in the country indicating a slight decline during this period, according to the Beige Book, a document released by the Federal Reserve on Wednesday. According to the report, four districts reported “modest growth” during the period,…
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Crypto this Wednesday: Jack Dorsey’s Investment in Pool Ocean, Billionaire Legal Battle with Cristiano Ronaldo, and More
Bitcoin fluctuates near $38,000; expert analysis and forecasts by Fernando Pereira Bitcoin experienced a slight drop, retreating from its $38,000 mark on November 29 amid market uncertainty. Analysts like Keith Alan highlighted the potential for manipulation by major market operators. Concurrently, the financial community is turning its attention to the upcoming speech by Jerome Powell,…
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US Economy Grew Faster says Commerce Department
Revised data released by the Commerce Department on Wednesday showed the U.S. economy grew faster than previously estimated in the third quarter of 2023. The Commerce Department said the jump by real gross domestic product in the third quarter was upwardly revised to 5.2 percent from the previously reported 4.9 percent. Economists had expected the…
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Persistent Interest Rate Optimism May Lead To Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to add to yesterday’s modest gains. Ongoing optimism about the outlook for interest rates may contribute to early strength on Wall Street despite conflicting remarks by Federal Reserve officials. While Fed Governor Christopher Waller said Tuesday he is…
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Investment Insights: Expert Analyst Opinions on Airbnb, Diageo, NetApp, Ulta Beauty, Walmart…
Airbnb: Jefferies downgrades to hold from buy with a target price reduced from $155 to $140. Avalonbay Communities: JP Morgan upgrades to neutral from underweight with a target price reduced from $201 to $194. Crowdstrike Holdings: Baird maintains its outperform rating and raises the target price from $190 to $225. Duke Energy Corporation: JP Morgan…
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Crude Futures Weakened
Crude futures weakened slightly as the market awaits OPEC+’s crucial decision to extend or deepen supply cuts. “The outlook for the oil market in 2024 will largely depend on OPEC+ policy,” ING said. DNB Markets said OPEC’s core members could be motivated by geopolitical tensions in the Middle East to take on deeper output cutsbut…
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Forex: Dollar Falls
The dollar was falling as the market reverses a trend of “excessive” optimism towards the currency amid growing evidence that the Fed has likely finished raising interest rates, Commerzbank said. “What we are seeing is typical for the greenback at the end of a Fed rate hike cycle: Excessive dollar optimism on the part of…
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Premarket Movers: Berkshire Hathaway, Crowdstrike Holdings, Fluence Energy, Inuit, GameStop
Berkshire Hathaway’s class B shares were up slightly after Charlie Munger, Warren Buffett’s right-hand man and vice chairman of the investment conglomerate, died at 99 years old. CrowdStrike Holdings third-quarter earnings and revenue beat analysts’ expectations and the cybersecurity company boosted its fiscal-year forecast. CrowdStrike said it expects adjusted profit of $2.95 to $2.96 a…