The most crucial news items for investors to start their trading day are listed below:
1. Mixed Outcomes: The S&P 500 and Nasdaq Composite saw gains on Tuesday, but the Dow Jones Industrial Average faced a decline. The S&P 500 rose by 0.17% to reach 5,078.18, while the Nasdaq climbed by 0.37% to 16,035.30. On the other hand, the Dow dropped by 0.25%, closing at 38,972.41.
2. Talks Halted: Warner Bros. Discovery has ceased discussions with Paramount Global regarding a potential acquisition that would have combined the two media giants. Last year, the companies had initiated talks for a merger, but these discussions have now cooled off as reported by CNBC’s Alex Sherman.
3. Slowdown in Electric Car Plans: Apple is scaling back its efforts in developing an electric car to compete with Tesla, according to a report by Bloomberg. The Special Projects Group within Apple, which had thousands of employees dedicated to this project, differs from the company’s core business of electronics and online services. There has been limited public information about Apple’s plans for this project, which was first rumored in 2014.
4. Lawsuit Dismissal Requested: DeepAI has requested a judge to dismiss parts of a lawsuit filed by the New York Times last year. The lawsuit accused the ChatGPT operator of copyright infringement and misusing the newspaper’s intellectual property.
5. Strong Performance by Norwegian Cruise Line: Norwegian Cruise Line Holdings reported its first profitable year since 2019 in its fourth-quarter earnings announcement. The company’s shares surged by approximately 20% following the news. Additionally, the report revealed slightly better-than-expected revenue of $1.99 billion but a worse-than-expected loss per share of 18 cents for the quarter ending in December.
Source (CNBC)
