The following news items are the most crucial for investors to know as they begin their trading day:
1. Watching Nvidia
On Wednesday, stock futures increased as investors awaited Nvidia’s report. With a gain of more than 200%, Nvidia is the best-performing S&P 500 stock of 2023, and investors are enthusiastic about its potential for artificial intelligence.
2. A bad day for commerce
Tuesday saw a significant decline in retail stocks as a result of investors’ disappointment with the expectations. The stock’s worst day since its first public offering was Tuesday, when shares of Duck’s Sporting Goods dropped 24%. This erased the stock’s prior 22% year-to-date gain.
3. It’s a fact.
With 86.3% of the vote, UPS workers formally ratified a five-year labour agreement on Monday. According to the International Brotherhood of Teamsters, the agreement includes significant wage increases as well as enhancements to safety measures and schedules.
4. Office commotion
According to CNBC’s Annie Palmer, Amazon is pushing some employees to relocate to central hubs in order to be nearer to their teams as part of its effort to entice workers back to the workplace. That may require employees to relocate out of state in some circumstances.
5. Financial impact
According to a Moody’s RMS assessment, the devastating wildfires in Maui, Hawaii, resulted in between $4 billion and $6 billion in economic losses due to property damage and business delays.
Source (CNBC)
