Market Overview The stock market registered gains during a holiday-shortened week. Trading hours were reduced, with the market closing at 1:00 p.m. ET on Tuesday and remaining closed on Wednesday for Christmas Day. The “Santa Claus rally” period began on Tuesday, typically characterized by positive market trends, though not guaranteed. The S&P 500 rose by…
Japanese automakers Nissan and Honda have officially begun merger discussions, aiming to create the world’s third-largest car manufacturer. Both companies are striving to compete in the global electric vehicle (EV) market against rivals such as Tesla and BYD. Following reports of the proposed merger, Nissan’s stock surged, and Honda’s U.S. shares rose over 15% after…
Despite the S&P 500’s impressive 23% rise this year, UBS strategists, led by Andrew Garthwaite, argue that U.S. stocks have not yet entered a bubble, primarily due to insufficiently loose monetary policy. Their report identifies six out of seven necessary conditions for a bubble, including the end of a structural bull market, pressured corporate profits,…
Market Overview The major indices closed with losses: S&P 500 decreased by 0.5%, Nasdaq Composite fell by 0.7%, and Dow Jones Industrial Average dropped by 0.5%. The Russell 2000 underperformed, declining by 1.3%. The market showed a downside bias, with decliners outnumbering advancers by a 3-to-1 margin at the NYSE and a 5-to-2 margin at…
Amazon (AMZN, Financial) shares declined by 4.16%, with the current trading price at $202.675. This decline coincided with a broader market dip influenced by recent comments from Federal Reserve Chair Jerome Powell, which dampened expectations for a potential interest rate cut in December 2024. Amazon.com Inc (AMZN, Financial), listed on the NASDAQ, is currently trading…
Recently filed documents with the U.S. Securities and Exchange Commission (SEC) reveal that Amazon founder Jeff Bezos has sold Amazon (AMZN, Financial) shares valued at $1.2 billion. These transactions took place on two separate days, increasing his total stock sales for November to $2.7 billion. Since July, Bezos has sold a total of $4.4 billion…
Market Performance on Election Day The stock market experienced substantial gains on Election Day. The S&P 500 increased by 1.2%, the Nasdaq Composite rose by 1.4%, the Dow Jones Industrial Average climbed 0.4%, and the Russell 2000 advanced 1.9%. This upward movement was driven by a rise in the ISM Services PMI for October, signaling…
Apple CEO Tim Cook recently visited China, where he explored the intersection of technology and agriculture. Cook expressed commitment to empowering communities and was keen on understanding how devices like the iPhone and iPad aid farmers in promoting efficient and sustainable practices. Cook’s visit included a stop at an organic farm in Beijing’s Shunyi district,…
CITIC Capital Holdings announced a significant acquisition involving its private equity firm, Trustar Capital, which signed an agreement with CITIC Limited to acquire shares of McDonald’s operations in mainland China, Hong Kong, and Macau. The transaction ensures that the CITIC Capital consortium, including Trustar Capital, remains the controlling shareholder of McDonald’s China. According to the…
According to data from Cox Automotive and the Kelley Blue Book, Tesla (TSLA, Financial) continues to lead the U.S. electric vehicle (EV) market. In the third quarter of this year, Tesla captured the top three spots on the best-selling EV list, with the Cybertruck ranking third, the Model 3 sedan coming in second, and the…