Wednesday’s stock gains came after investors digested a core inflation reading for August that was much higher than expected. A rise of 50 points, or 0.14%, was seen in the Dow Jones Industrial Average. Both the S&P 500 and the Nasdaq Composite increased by 0.3% and 0.45%, respectively. Stock of Tesla rose by 1.8%. Amazon’s stock, along with several other large-cap tech companies, saw a gain of 2%. Both Microsoft and Meta Platforms saw increases in their stock price of over 1%.
The Federal Reserve is likely to keep its options open to raise interest rates again in November or December following an expected halt this month due to hotter-than-forecast inflation. Wednesday’s statistics from the Bureau of Labour Statistics indicated that the so-called core consumer price index, which excludes food and energy costs, increased by 0.3% from July, the first increase in six months. It rose 4.3% from the previous year, which is still above the Fed’s target despite being the lowest annual growth rate in almost two years.
The worldwide demand for cannabis shows no signs of slowing down. The primary factors driving the growth of the market are the increasing legalization of cannabis and the expanding acceptance of its use for medical purposes. Revenue in the global cannabis market is expected to reach US$51.27 billion by 2023, according to a report by Statista. Sundial (SNDL) is the pick with the highest potential return.
The FDA now has to decide if it will ban sales of medications like Sudafed and NyQuil that include the chemical or allow manufacturers time to find a suitable replacement.
Despite being more expensive, Apple has increased its global market share at the expense of its smartphone competitors, including Samsung and Huawei. Almost nine out of ten American teenagers use iPhones, as found by Piper Sandler, in part because they have convinced themselves that green text bubbles are uncool.
Kevin McCarthy has demanded that President Biden be investigated for impeachment. The Republican Speaker of the House caved to pressure from his party’s conservatives and ordered an impeachment investigation into the president’s alleged involvement in his family’s international business operations.
Carbon-based compounds were detected by NASA’s James Webb Space Telescope on a distant exoplanet, implying the presence of an ocean of water and, by extension, life, on the planet.
DraftKings issued a statement of regret after promoting a 9/11-related wager named “Never Forget.” After receiving tremendous backlash on the 22nd anniversary of the terrorist events, the sports betting company ultimately decided to pull the commercial.
The new Covid shots were given the green light by the FDA on Monday; on Tuesday, the CDC issued recommendations on who should get them. The quick answer is anyone above the age of six months. Vaccines should be readily available at a local drugstore as early as this week.
Bernard Looney, CEO of BP for less than four years, has stepped down. Company officials claimed he had not been “fully transparent in his previous disclosures” regarding his contacts with employees before he took over as CEO.
On Tuesday, the pension funds of New York City and the state of Oregon filed a lawsuit against Fox Corporation, alleging that the parent company of Fox News failed its shareholders by allowing Fox News to recklessly spread lies about the 2020 election, exposing the company to two landmark defamation cases.
S&P Global Ratings has downgraded Advance Auto Parts, another store experiencing difficulty, to the ‘junk’ credit rating level. The issuer credit rating was downgraded to BB+ from BBB- by the rating agency. BB+ is the highest speculative rating. Along with the downgrading to BBB-, the outlook was revised downward from stable to negative.
The first major change for Walgreens after the departure of its CEO. In order to speed up Walgreens’ engagements with community-based primary care providers, the firm is teaming up with Pearl Health to increase its value-based care footprint.
Users in the United States will soon be able to shop within the TikTok app, following the success of the company’s online marketplace in the United Kingdom. Now, both companies and creators can make direct sales to you within their videos, with the possibility of having those sales completed by TikTok.
In a joint press release today, BMW Group, Ford Motor Company, and American Honda Motor Co., Inc. announced the formation of ChargeScape, LLC, a new equally-owned company that will establish a unified, low-cost platform linking electric utilities, automakers, and customers interested in purchasing electric vehicles. The electric utility industry in the United States and Canada, as well as EV users, can both benefit from
Eight businesses were issued warning letters by the FDA on Tuesday for allegedly selling unapproved eye medications that posed a “potentially harmful” risk to consumers.
Authors are ramping up their efforts to stop AI firms like Meta and OpenAI from utilizing their protected works to train AI systems, including suggested class action lawsuits.
As economic growth in the euro region slows at a quicker rate than projected, the European Central Bank is poised to maintain its current interest rate policy on Thursday. Due to high inflation, consumers in the region are cutting back on their spending.
Initial Jobless Claims are due on Thursday. The agreement with the United Auto Workers is about to end. Adobe and Lennar are anticipated to report earnings.
Data on consumer mood will be released on Friday.
Stocks to watch with positive momentum this week and Buy Rating. SNDL, GRPN, MSFT, GOOGL, eBay, AAPL, PYPL, UBS, WMT, AMZN, META, Palo Alto Networks, Nvidia, SBUX
