To begin their trading day, investors should be aware of the following key news items:
1. Get back up quickly
After a challenging session on Wednesday, stocks are hoping to recover. With a loss of 0.8%, the Dow Jones Industrial Average had its worst day since December; the S&P 500 had its worst day since September, down 1.6%; and the Nasdaq Composite had its worst day since October, losing 2.2%.
2. Strolling ahead
Disappointed traders expected the Federal Reserve to begin lowering rates in order to avert a possible recession, Fed Chair Jerome Powell stated on Wednesday that the Federal Reserve will probably not implement a rate cut in March.
3. Technician on duty
Tech earnings are having a great day. Following the close of the market, Apple, Amazon, and Meta release their earnings. The three quarterly earnings reports follow the selloffs of Microsoft and Alphabet, the parent company of Google, earlier this week, despite both companies posting solid quarters.
4. Thrown away
Disney sued Florida Governor Ron DeSantis in federal court, but the judge dismissed the case due to lack of legal standing. DeSantis and other defendants were accused in the lawsuit of taking revenge on the corporation for openly criticising the state’s contentious law that restricts discussion of sex and gender in public schools. The law’s opponents branded it “Don’t Say Gay.”
5. Discovering the fairway
Strategic Sports Group, a U.S. consortium, declared that it will contribute a maximum of $3 billion to the PGA Tour, starting with a $1.5 billion investment. Player directors unanimously endorsed the agreement. Following the conclusion of its negotiations with the Saudi Public Investment Fund, the professional golf organisation will receive the funds.
Source (CNBC)
