The following are the most important news items for investors to start their trading day:
1. There’s no stopping me now.
Lordy, Lordy The Dow has reached 40,000. The Dow Jones Industrial Average momentarily surpassed 40,000 for the first time, but ended the day slightly lower, at 39,869.38. Still, the intraday high marks the end of a bull market that started in October 2022.
2. Food at home.
Walmart’s stock rose nearly 7% on Thursday after the company exceeded Wall Street’s quarterly sales and revenue projections. The company’s CFO ascribed this, in part, to customers moving to Walmart’s grocery aisles for cheaper meals than quick-service eateries.
3. Supreme Court judgement.
The Consumer Financial Protection Bureau’s funding system is legal, according to a Supreme Court ruling issued Thursday. The verdict shields the agency, which is funded by the Federal Reserve system, from a possible death sentence.
4. Make an offer.
Figma, a cloud-based design tool startup, has announced that current investors, including current and former staff, will be able to sell their shares through a tender offer. The offer puts the company at $12.5 billion, up 25% from the amount at which it secured funds in 2021.
5. Fundamental building blocks of retail:
Wayfair, an online home products business, is trying a different approach by constructing a physical location. It joins Warby Parker, Figs, Glossier, and Everlane as digitally native brands that have expanded into physical stores.
Source (CNBC)
