Here are the key news items that investors should be aware of at the start of the trading day:
1. S&P 500 Hits Milestone: The S&P 500 briefly surpassed the 5,000 mark for the first time on Thursday but closed at a record 4,997.91. The Dow Jones Industrial Average also reached a new high, ending the day at 38,726.33. Despite these milestones, gains for the major indexes were modest, with the S&P up 0.06%, the Dow up 0.13%, and the Nasdaq Composite up 0.24%.
2. Earnings Reports: Pinterest and PepsiCo released their earnings reports in the last 18 hours. Pinterest’s fourth-quarter earnings fell short of expectations, leading to a decline in its stock price. However, the company announced a new partnership with Google, which helped alleviate some of the losses.
3. Google AI Chatbot Renamed: Google has rebranded its artificial intelligence chatbot from Bard to Gemini. The chatbot is now available as a dedicated app for Android users, with an option for iPhone users to access it via the Google app on iOS. Additionally, Google is offering a subscription service for its most powerful AI model, Gemini Ultra 1.0, priced at $19.99 per month.
4. Cocoa Prices Surge: Cocoa prices have reached record highs due to poor weather conditions affecting West African crop yields. The region, which includes Ghana and Ivory Coast and produces three-quarters of the world’s cocoa, has experienced drier temperatures as a result of the El Nino weather phenomenon.
5. Delta Air Lines’ Premium Lounges: Delta Air Lines is introducing a new “premium” tier of airport lounges, beginning with a 38,000-square-foot location at New York’s JFK International Airport. The lounge will feature a full-service restaurant and wellness areas, catering to elite travelers seeking a more exclusive airport experience amid overcrowding in standard lounges.
Source (CNBC)
