Sunday, April 14, 2024
HomeTrading RoomThursday's Stock Market Opening

Thursday’s Stock Market Opening

Here are the top news stories that investors need to know before they begin their trading day:

1. Market motion

Stocks dropped on Wednesday after the Federal Reserve hinted at a potential future rate increase. Investors were less certain about upcoming rate hikes because markets had already factored in the anticipated Fed decision on Wednesday. The Dow Jones Industrial Average fell by a less dramatic 0.22% while the S&P 500 fell by 0.94%. With Microsoft down more than 2% and Nvidia and Alphabet, the parent company of Google, down almost 3%, the Nasdaq Composite fell by 1.53%. The closing session lows for all three main indices.

2. Fed forecasts

According to the Federal Reserve, there may be one more rate increase in 2023. After its two-day meeting that ended on Wednesday, it retained rates at their present level between 5.25% to 5.5%, the highest in around 22 years. Jerome Powell, the chair of the Fed, stated that the institution still needs to “see further progress” on inflation. According to predictions made in the Fed’s dot-plot, which shows what its participants anticipate for the future, the central bank may raise interest rates to 5.6% by the end of 2023. The Federal Open Market Committee, which sets interest rates, also predicted two rate cuts in 2024, which is one less than what it predicted in June.

3. Purchasing apps

In 2020, when people began flocking to trading applications like Robinhood, Apple wanted to cash in on the buzz. According to Kate Rooney and Hugh Son of CNBC, it was collaborating with Goldman Sachs on an investment tool that would allow users to purchase and sell stocks, and it expected to release it in 2022. When the markets began to decline and borrowing rates started to rise, they gave up on the project. According to those with knowledge of the conversations, Apple shelved the idea out of concern that it would draw criticism if users of its products lost money in the stock market.

4. IP-doze.

IPOs have returned. Within a week’s time, Arm, Instacart, and Klaviyo all disappeared, with Klaviyo making its NYSE debut on Wednesday. It increased 9% at its initial public offering. However, it’s difficult to predict how long the buzz will remain. Following a slump that started right after the stock’s launch on Tuesday and left it just above its IPO price, Instacart shares dropped roughly 11% on their second day of trading on Wednesday. Additionally, Arm is again close to its stock IPO price. The company’s stock is almost back to the $51 per share it started at after rising by almost 25% on its first day of trading last week.

5. Is the end near?

Could the writers’ strike be about to end? The authors Guild of America strike will soon come to an end thanks to a face-to-face meeting between authors and producers, according to people with knowledge of the situation. The WGA and the Alliance of Motion Picture and Television Producers are reportedly hoping to reach a settlement on Thursday, according to sources.

Source (CNBC)

- Advertisment -

Most Popular

Google IT Support Professional Certificate

Google Cybersecurity Professional Certificate

Learn to Create a Budget Using a Spreadsheet

Free Certified in Cybersecurity Courses

Recent Comments