Sunday, April 14, 2024
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Thursday’s Stock Market Opening

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

1. Breathing in and out

Following a string of dismal Wall Street days, investors breathed a little sigh of relief. The Dow ended a three-day losing run, and after the publication of fresh jobs data, the S&P 500 and the Nasdaq Composite likewise took a more upbeat turn. According to ADP’s Wednesday data, private payroll growth in September increased by just 89,000, significantly less than the 160,000 economists had anticipated.

2. Getting a hit

A fresh strike has begun. At Kaiser Permanente, the largest nonprofit provider of healthcare in the country, more than 75,000 healthcare workers went on strike on Wednesday. The union, which claims that this is the largest healthcare workers’ strike in American history, is looking for a long-term solution to the staffing shortages that have caused burnout among the workforce. Additionally, it claims that its members desire improved benefits and compensation.

3. Phone battles
In an effort to continue eroding Apple’s smartphone market share, Google launched two new Pixel phones on Wednesday. Among other changes, the camera apps on the Pixel 8 and Pixel 8 Pro now include new AI-powered editing capabilities.

4. Extra forbearance
On Wednesday, President Joe Biden cancelled an additional $9 billion in student loan debt. The relief is a result of changes made by his administration to a variety of programmes, including Public Service Loan Forgiveness and income-driven repayment arrangements. The new batch of forgiveness will assist about 125,000 Americans. This action follows the Supreme Court’s rejection of Vice President Biden’s proposal to forgive up to $20,000 in student loan debt for tens of millions of Americans.

5. Disney offers
Dreams might come true after all. At its domestic theme parks, Disney is giving kids’ admission tickets a discount. The offer, which is valid for a brief period only, is timed to coincide with a decline in park visitation. Disney and other businesses have noticed a slowdown in visitors and hotel room occupancy as consumers deal with inflation.

Source (CNBC)

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