For investors to begin their trading day, the following are the most crucial news items:
1. Three documentation
On Wednesday, the three major averages all made historic closing records by rallying. The Nasdaq Composite reached 16,369.41, up 1.25%, and the Dow Jones Industrial Average gained 401.37 points, or little over 1%, to close at 39,512.13. After finishing the day up 0.89% at 5,224.62, the S&P 500 closed above 5,200 for the first time.
2. Holding steady.
As anticipated, the Federal Reserve maintained interest rates on Wednesday at a 23-year high. As it has done since July, the Federal Open Market Committee, which sets interest rates, announced that it will maintain its benchmark overnight borrowing rate in the range of 5.25% to 5.5%.
3. Do you use Reddit for that?
Reddit valued the firm at around $6.5 billion, near the upper end of the predicted range, when it priced its IPO on Wednesday at $34 per share. On Thursday, the social networking platform will make its debut using the ticker “RDDT.” It’s one of the very few venture-backed digital acquisitions in the last two years and the first significant social media brand to go public since Pinterest’s launch in 2019.
4. Micron-sized explosions
The surge in artificial intelligence is helping another business. Micron’s stock surged by almost 16% on Thursday morning following the release of its second-quarter financial reports on Wednesday, which exceeded the expectations of analysts and provided optimistic outlooks.
5. ESPN’s next chapter
ESPN’s business model at Disney seems to be collapsing. Although the biggest all-sports network in the world has depended on cable subscriber fees for almost 40 years, an increasing number of Americans are choosing to cut their cable TV.
Source (CNBC)
