Investors saw a glimmer of hope at the end of a tumultuous week on Wall Street as the stock market closed on a high note on Friday. The S&P 500 and Nasdaq both posted gains, while the Dow Jones Industrial Average ended the day slightly lower. This mixed distribution reflects the uncertainty and volatility that has plagued the market in recent days.
Consumer sentiment has reached a 2½-year high as inflation continues to ease across sectors, according to recent data released by the Federal Reserve. This increase in sentiment is significantly impacting consumer spending habits and overall economic outlooks.
FedEx Corp.’s stock surged to its highest level in three years, following the announcement of a quarterly profit that beat Wall Street expectations. The company also revealed plans for a $5 billion share buyback program, which has further fueled investor optimism.
Single-family housing starts in the United States reached near two-year highs in the latest report, indicating a positive trend in the housing market. According to data released by the Commerce Department, housing starts increased by 6.5% to a seasonally adjusted annual rate of 1.24 million units in September.
In an unexpected turn of events, Bitcoin has defied market expectations by reaching a record high price in 2024, despite being in the midst of the halving trend.
Investors cheered on Wall Street today as the S&P 500 soared to a new record high. The benchmark index rose 0.5% to close at an all-time high of 4,326.23.
Gold prices soared to record highs on Tuesday as investors sought safe-haven assets amid escalating trade tensions between the United States and China. The precious metal surged to $1,945 per ounce, the highest it has ever been in history.
The Attorney General of New York has filed a lawsuit against a cash-advance operation for issuing fraudulent loans with interest rates as high as 820%.
Disruptions in Supply Chains
One of the factors contributing to China’s slowing growth is the disruptions in global supply chains caused by the COVID-19 pandemic. Companies are reconsidering their reliance on China for manufacturing and looking to diversify their production bases.
China’s stock market saw a significant jump in trading activity as Beijing announced its target of achieving 5% GDP growth for the upcoming year. This news has spurred optimism among investors, leading to a surge in the prices of Chinese stocks.
