Wall Street remains stable after strong gains in February, with the Nasdaq hitting a record high. U.S. oil prices rise ahead of OPEC+ decision, while cease-fire negotiations in the Israel-Hamas war face uncertainty. Several stocks experience significant movements, including Dell’s 25% jump and New York Community Bancorp’s 22% drop. Analysts adjust price targets for companies like Broadcom and Eli Lilly, and Elon Musk sues OpenAI and its CEO.
read moreAlessandro DiNello
0 posts last weekGlobal Markets Quietly Mixed After Record Highs, Banking Sector Troubles
Wall Street markets were mixed after a record-breaking month, with attention turning to banking sector troubles. NYCB shares plunged 18% after the CEO’s ouster and a surprise loss, while Dell’s stock jumped 26% on strong Q4 results. In Asia, Japan’s Nikkei hit a record high, but China’s manufacturing activity contracted for the fifth consecutive month. Bond yields eased after an inflation report, calming worries about reacceleration.
read moreStocks Surge to New Highs, Disney Beats Earnings, Regional Banks Under Scrutiny
The S&P 500 reached a new high, just below 5,000, driven by a strong earnings season. Disney beat earnings estimates and made strategic announcements to counter activist investor pressure. Regional banks, particularly New York Community Bank, are under scrutiny, while hedge fund billionaire Bill Ackman plans to launch a new investment vehicle. Arm, a chip designer, exceeded earnings expectations and provided a positive forecast, attributing its success to AI-driven sales growth.
read moreStock Market Update: Ford Beats Earnings, Snap and NYCB Stocks Decline
Ford’s stock surged over 5% after beating earnings estimates and projecting strong 2024 earnings, while also announcing a special dividend. Snap Inc. shares plummeted by 30% due to lower-than-expected fourth-quarter revenue, citing challenges from the conflict in the Middle East. New York Community Bancorp’s stock continued to decline following an unexpected fourth-quarter loss and concerns about its commercial real estate exposure.
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