Here are the key news items that investors should note for their trading day:
1. Proximity to All-Time High
The S&P 500 edged closer to its all-time high, recording a 0.4% gain on Tuesday to reach a closing value of 4,774.75. The index is now less than 1% away from its previous record of 4,796.56, set almost two years ago in January 2022.
2. Increased Stock Prices Driven by AI
“Artificial intelligence” has become a buzzword on Wall Street, and this growing hype has positively impacted the stock prices of select companies.
3. Apple Appeals Import Ban on Apple Watches
Following a complaint from Masimo, a medical monitoring technology company, Apple is appealing against an import ban imposed on its Apple Watches. Masimo accused Apple of hiring its employees, stealing pulse oximetry technology, and incorporating it into their devices. The U.S. International Trade Commission enforced the ban based on the complaint, and President Joe Biden’s administration chose not to overrule the decision.
4. Success of Warner Bros. Discovery’s ‘The Color Purple’
‘The Color Purple,’ produced by Warner Bros. Discovery, gained significant success at the Christmas box office, generating revenue of $18.15 million. This marks the best box office debut during the holiday season since “Sherlock Holmes” in 2009 and currently ranks as the second-best ever for the day.
5. Forecasts for 2024
After a year defined by an ambiguous economic landscape, experts suggest that we may not be entirely free from uncertainty in 2024. Despite a decrease in inflation (though still present) and relatively high interest rates (though stable), some economists anticipate a mild recession, possibly even qualified as “the mildest in history,” according to Raymond James.
Source (CNBC)
