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

For investors to begin their trading day, the following news items are the most crucial:

1. Not too depressing August

The S&P 500 finished Wednesday’s trading session 0.4% higher, marking the fourth straight day of gains on Wall Street. The tech-heavy Nasdaq Composite increased 0.54% and the Dow Jones Industrial Average gained 0.11% as Salesforce shares increased on the release of positive earnings and guidance.

2. ADP against GDP

In August, the U.S. job growth slowed down more than was anticipated, according to ADP’s report on Wednesday. According to the company, private companies created 177,000 new jobs in July, far fewer than the 200,000 economists surveyed by Dow Jones projected and far less than the revised total of 371,000 jobs created in July. These figures came before the Department of Labor’s Friday jobs report

3. Walmart bet

Walmart is looking for methods to narrow the big gap with rival Amazon. The retail behemoth launched its first Walmart Marketplace Seller Summit on Wednesday by announcing new initiatives to draw and keep suppliers on its third-party marketplace.

4. Big overseas beat

In the first hour of trading on Thursday, shares of Swiss bank UBS rose to their highest level since 2008. The company had just announced a second-quarter profit of $28.88 billion. Reuters polled analysts, who predicted a net profit of $12.8 billion.

5. The birthday of Buffett

The Oracle of Omaha turned 93 on Wednesday, and according to CNBC’s Yun Li, his business fortunes are better than ever. The largest non-tech firm by market capitalization is Warren Buffett’s Berkshire Hathaway conglomerate, and its shares are at an all-time high.

Source (CNBC)

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