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S&P 500 Index Shows Mixed Results, Top Gainers and Losers Revealed
Stock Market News | Jul 01 2024 01:02 PM IST
Today, the stock market is experiencing a mix of results, with the S&P 500 index trading at 5,475.09 and a gain of 0.27%. The advance decline ratio shows a slightly bearish market sentiment. The top gainers in the S&P 500 index include Gamida Cell Ltd., View, Inc., and WeWork, Inc., while the top losers are Northern Star Investment Corp. II, Nuburu, Inc., and Invitae Corp. Tesla, Inc. and Alpha Metallurgical Resources, Inc. are the top gainers in the large and mid cap categories, while Wheels Up Experience, Inc. and Inhibrx, Inc. are the top gainers in the small cap category. Only 1 sector is advancing in the S&P 500, indicating a slightly positive market sentiment. Investors should closely monitor the market and individual stocks for informed decision making. Read Full Story
Peloton staved off the cash crunch that threatened its business. Where does it go now?
Peloton secured a new $1 billion term loan, raised $350 million in convertible senior notes. The refinance reduced Peloton's debt from about $1.75 billion to around $ 1.55 billion. The company still has a long road ahead to fix its business and get back to profitability.
Yahoo FinanceHere's the biggest risk to Nvidia being a $10 trillion juggernaut
"There's very little likelihood that there isn't competition out there [for Nvidia]," Goldman Sachs portfolio manager Brook Dane said. Dane foresees strength in data centers with the capability to run large language models (LLMs), which lifts up ASIC manufacturers who supply chips needed for data infrastructure.
Yahoo FinanceInvestors have found peace in another Trump presidency
Since the debate aired the evening of June 27, the S&P 500, Nasdaq Composite and Dow Jones Industrial Average are only down fractionally. Shares of market leader Apple (AAPL) have gained about 1.6%. Morgan Stanley strategist Mike Wilson says he received client interest to rotate into 2016 "Trump Trades" in the cyclical and small-cap space.
GM reports best U.S. quarterly sales since 2020
Detroit automaker on Tuesday reported sales of 696,086 for the second quarter. That's up 0.6% from a year earlier and its highest quarterly units sold since the fourth quarter of 2020. Forecasters expect second-quarter sales industrywide, which included July 1, to be roughly level.
Trump Media announces $105 million raised from DJT warrants
The proceeds came during a 12-day stretch starting June 20. Trump Media says it has more than $350 million in cash and no debt on its balance sheet. The company has a multibillion-dollar market capitalization despite its paltry revenue. Trump, who owns about 65% of the company's shares, was found guilty of 34 counts of falsifying business records.
How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts
Fintech startups like Yotta promised customers the best of both worlds. But the collapse of a fintech middleman called Synapse has revealed that promise of safety as a mirage. More than 100,000 Americans with $265 million in deposits were locked out of their accounts.
America’s red-hot job market just won’t quit
The number of available jobs in the US unexpectedly grew in May. Job openings jumped higher to 8.14 million in May, from a downwardly revised 7.91 million in April. Despite the uptick in job postings, May’s JOLTS report reflected a significant milestone for the US labor market.
Supreme Court to review FDA’s power to regulate e-cigarettes and hear First Amendment case on age limits for porn sites
The Supreme Court agreed to review the US Food and Drug Administration’s strict regulations for e-cigarettes. The high court also said it would hear a hear a lawsuit over Texas’ age-verification requirements for sexually explicit web sites. The decisions to take or deny cases came a day after the Supreme Court handed down the final opinions of a contentious term.
Powell says Fed has made 'quite a bit of progress' on inflation but needs more confidence before cutting
Federal Reserve Chair Jerome Powell spoke at a central banking forum in Sintra, Portugal. Powell: "We want to be more confident that inflation is moving sustainably down toward 2% before we start the process of reducing or loosening policy" The Fed spent much of the past year worried that cutting rates too soon and allowing inflation to resume its upward trek posed the greater risk.
Watch Fed Chair Powell, ECB's Lagarde speak live at central bank policy forum
Powell will join ECB President Christine Lagarde and Brazil Central Bank Governor Roberto Campos Neto at the ECB Forum on Central Banking in Sintra, Portugal. The forum happens with investors closely watching how central bank policymakers will react to inflation dynamics around the world. In the U.S., the Powell-led Fed has kept its main policy rate steady for the past year.
Insurance crisis that started in Florida, California is spreading. Your state could be next
Insurance companies are scrambling to maintain their financial ratings and, in some cases, just to stay in business. The crisis showed up first in Florida, which has endured three major hurricanes in two years. With multiple carriers either leaving the state or going out of business, the state's insurer of last resort has seen its policy count triple in four years.
Novo, Lilly Slip as Biden Demands Price Cuts on Blockbusters
Novo Nordisk A/S and Eli Lilly & Co. shares fell early Tuesday after US President Joe Biden demanded price cuts. Analysts foresee an exploding market for the injected medicines, particularly in fighting obesity. Companies including Pfizer Inc., AstraZeneca Plc and Amgen Inc., along with a host of small biotechs, are racing to get competing products to consumers.
Yahoo FinanceOver 3 Decades Later, Barry Diller Takes Another Swing at Paramount | Analysis
Legendary media mogul Barry Diller is back in the game, exploring a bid to take control of a far more-troubled Paramount Global, an individual with knowledge told TheWrap on Monday. Diller’s company IAC has signed nondisclosure agreements with National Amusements, the holding company of Paramount's controlling shareholder Shari Redstone. The emergence of Diller, a billionaire who led Paramount Pictures in the heyday of broadcast television in the 1970s and
NFL, RedBird joint venture EverPass lines up 'Sunday Ticket' streaming in bars, restaurants
EverPass Media, the joint venture between the league and private equity firm RedBird Capital Partners, has acquired UPshow. UPshow allows bars, restaurants, casinos and other businesses to stream "Sunday Ticket" games. Until recently, they could only do so through a subscription to satellite TV provider DirecTV.
NFL 'Sunday Ticket' streaming is coming to bars and restaurants this season
EverPass Media, the joint venture between the league and private equity firm RedBird Capital Partners, has acquired UPshow. UPshow allows bars, restaurants, casinos and other businesses to stream "Sunday Ticket" games. Until recently, they could only do so through a subscription to satellite TV provider DirecTV.
Yahoo FinanceTop Investors See Plenty of AI Fuel Left to Drive Equity Rally
Investors and market strategists at major firms expect all things AI to feature among the prominent themes in the second half of the year. The S&P 500 Index has surged over 40% since the end of 2022. Most expect mega-caps such as Nvidia Corp. to remain at the forefront.
Yahoo FinanceBlackRock, BNP See Plenty of AI Fuel Left to Drive Equity Rally
Investors and market strategists at major firms expect all things AI to feature among the prominent themes in the second half of the year. Most expect mega-caps such as Nvidia Corp. to remain at the forefront. Some others see secondary and tertiary benefactors of AI including utilities and infrastructure providers to take the lead.
Yahoo FinanceUS Labor Market Shows Signs of Losing Steam, Putting the Fed on Alert
Companies are posting fewer job openings this year and employees are quitting less. Strength in hiring has so far helped the economy weather aggressive Fed tightening. With inflation still running above the central bank’s 2% target, the fear is that further softening in labor conditions could put economic growth at risk.
Euro zone inflation eases to 2.5% as core print misses estimate
Headline inflation in the euro area dipped to 2.5% in June, the European Union's statistics agency said. The closely-watched core and services prints held steady. In May, inflation had nudged two percentage points higher, to2.6%. Money markets see a high likelihood of another two interest rate trims this year.