ADVFN US – Market Content Editor
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Costco Hikes Membership Fees; ON Semiconductor Stock Drops 3%; WD-40 Soars 13% on Strong Q3 Earnings
Costco Wholesale (NASDAQ:COST) – Costco has increased its membership fees by $5 for annual members, while the top-tier plan sees a $10 increase. This is the first fee hike since 2017. Shares rose 2.90% in pre-market trading. ON Semiconductor (NASDAQ:ON), Microchip Technology (NASDAQ:MCHP) – Morgan Stanley analysts downgraded ON Semiconductor from “Equal Weight” to “Underweight,”…
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U.S. Stocks Rally Ahead Of Close Watched Inflation Data
Following the lackluster performance seen in the previous session, stocks moved sharply higher over the course of the trading day on Wednesday. With the strong upward move, the S&P 500 closed above 5,600 for the first time ever. The major averages saw further upside going into the close, ending the day near their highs of…
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NEAR Achieves New Milestones, TIA Faces Market Volatility, Block Unveils Advanced Mining Chips
Near Protocol achieves significant milestones Recently, the NEAR Protocol (COIN:NEARUSD) celebrated two major milestones: processing 450 million transactions and reaching 12.3 million unique addresses, reflecting its growing popularity. The NEAR token is currently up 2.21%, trading at $4.63, after hitting an intraday high of $4.74. In June, the platform demonstrated exceptional efficiency with a 99.7%…
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Wholesale Inventories, Oil Inventories Reports Due
Federal Reserve Chair Jerome Powell is scheduled to deliver his semi-annual monetary policy testimony before the House Financial Services Committee at 10 am ET. Also at 10 am ET, the Commerce Department is due to release its report on wholesale inventories in the month of May. Wholesale inventories are expected to increase by 0.6 percent.…
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Tech Stocks May Lead Initial Upward Move On Wall Street
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to see initial strength after ending yesterday’s choppy trading session little changed. Technology stocks may lead an early upward move after Taiwan Semiconductor (NYSE:TSM) reported its second quarter sales surged much more than expected. Shares of Taiwan Semiconductor,…
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U.S. Index Futures Climb; Oil Prices Recover
U.S. index futures are up in pre-market trading this Wednesday. At 6:08 AM, Dow Jones (DOWI:DJI) futures rose 6 points, or 0.02%. S&P 500 futures advanced 0.14%, and Nasdaq-100 futures gained 0.25%. The yield on the 10-year Treasury note stood at 4.279%. In the commodities market, oil prices rose, recovering from three consecutive days of…
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Microsoft and Apple Exit OpenAI Board, TSMC Exceeds Forecasts with Record Revenue, and Other Key Updates
OpenAI, Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL) – Microsoft has given up its observer seat on OpenAI’s board, which has attracted regulatory attention in Europe and the US, following improvements in the AI startup’s governance over the past eight months. Apple, which recently integrated OpenAI’s ChatGPT into its devices, also opted not to take on the observer…
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U.S. Stocks Close Little Changed Following Powell Testimony
Stocks showed a lack of direction over the course of the trading session on Tuesday, with the major averages bouncing back and forth across the unchanged line before eventually ending the day narrowly mixed. Despite the choppy trading, the Nasdaq and the S&P 500 once again reached new record closing highs. While the Dow (DOWI:DJI)…
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Bitcoin Revisits $58K, ASX Greenlights Second Bitcoin ETF, Worldcoin Debuts Developer Preview
Recent Bitcoin movements On Tuesday, Bitcoin (COIN:BTCUSD) revisited the $58,000 mark, reaching a daily high of $58,122, driven by significant BTC transfers by the German government. In testimony before the Senate, U.S. Federal Reserve Chairman Jerome Powell indicated an increased likelihood of a rate cut in September, stating that inflation is not the only economic…
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Futures Pointing To Modestly Higher Open On Wall Street
The major U.S. index futures are currently pointing to a higher open on Tuesday, with stocks likely to move to the upside following the mixed performance seen in the previous session. Stocks may benefit from optimism about the outlook for interest rates ahead of several key economic events this week. However, early trading is likely…