Sunday, April 14, 2024
HomeTrading Room5 Things To Know Ahead Of Wednesday's

5 Things To Know Ahead Of Wednesday’s

The following news items are the most crucial for investors to know as they begin their trading day:

1. Tech stock prices rise

In trading on Tuesday, the Nasdaq Composite increased 1.74% as tech stocks recovered after a decline in August. The Dow Jones Industrial Average increased by 0.85%, while the S&P 500 increased by 1.45%. Nvidia, a chipmaker, saw its shares rise 4.2% to a record high, along with advances from Meta Platforms, Tesla, Apple, and Microsoft. With a year-to-date gain of 234%, Nvidia is by far the top performer in the S&P 500. The improvements coincide with a lower-than-expected reading on the Conference Board’s consumer sentiment index, which suggests that the economy may be stalling.

2. Medicare contracting

The Biden administration has announced the first 10 medications that will be the focus of price talks between manufacturers and Medicare, launching a procedure intended to reduce the cost of prescription pharmaceuticals for senior citizens. The top 50 pharmaceuticals for Medicare Part D, which covers prescription drugs filled by seniors at retail pharmacies, are the ones on the list.

3. Local lenders

The regional banking crisis that erupted this spring and resulted in the demise of many banks is being addressed by U.S. regulators. Plans were revealed by a coalition of organisations on Tuesday that would force local banks to issue debt and strengthen their so-called living wills.

Four. Bitcoin ETF

Could the next big thing in cryptocurrency be just around the corner? The possibility of bitcoin exchange-traded funds has been made possible by a Washington, D.C., appeals court. The Securities and Exchange Commission lost in court when it rejected Grayscale’s request to have the Grayscale BitcTrust converted to an ETF. Other businesses, like BlackRock and Fidelity, that seek to launch bitcoin exchange-traded funds (ETFs), as well as cryptocurrency bulls who believe that a potential ETF could lead to broader acceptance, could gain from the decision. Following the revelation, many major cap crypto currencies, including bitcoin and ether, increased in value. On Tuesday, Coinbase, which is mentioned as the custodial partner in several applications for spot bitcoin ETFs, finished over 15% higher.

5. Idalia the hurricane

As it headed straight for the Florida shore on Wednesday, Hurricane Idalia intensified to a Category 4 hurricane. In the sparsely populated Big Bend region, where the Florida Panhandle swings towards the peninsula, it was anticipated to make landfall on Wednesday morning. The National Weather Service described the storm as “an unusual event” since a significant hurricane has never before in recorded history moved across the bay that borders the region. 22 counties along Florida’s western coast, which might see storm surges and flooding, received evacuation notices, some of which were required.

Source (CNBC)

- Advertisment -

Most Popular

Google IT Support Professional Certificate

Google Cybersecurity Professional Certificate

Learn to Create a Budget Using a Spreadsheet

Free Certified in Cybersecurity Courses

Recent Comments