Global Markets
Canada’s Main Stock Index Drops Despite on Oil & Gold Prices: Canada’s main stock index, the S&P/TSX Composite Index, experienced a decline as oil and gold prices went lower.
Nasdaq Rises on Nvidia and Chip Stocks’ Momentum: The Nasdaq Composite Index saw gains as Nvidia’s stock price increased, helping to lift other semiconductor and technology stocks. Nvidia’s resurgence played a significant role in restoring confidence in the broader technology sector, which had been under pressure in recent sessions.
European Shares Boosted by Technology and Mining Stocks: In Europe, gains in technology and mining stocks supported a rise in major stock indices. Investors showed renewed interest in these sectors, likely driven by favorable economic data or corporate earnings reports.
Japan’s Nikkei Climbs on Technology and Chip Stocks: Japan’s Nikkei 225 Index climbed over 1%, reaching its highest closing level in two and a half months. The rise was fueled by strong investor demand for technology stocks and chip-related heavyweights, reflecting optimism in these industries.
Gold Prices Fall as U.S. Dollar Strengthens: Gold prices declined as the U.S. dollar strengthened. A stronger dollar makes gold more expensive for holders of other currencies, typically leading to lower demand and falling prices for the precious metal.
Corporate Stock News
Apple upgraded by Rosenblatt Securities to a “Buy” and raised the price target from $196 to $260.
Volkswagen Group will invest up to $5 billion in Rivian for a joint venture
Lufthansa will add an environmental charge to fares
Aston Martin debuts its limited edition Valiant sportscar
Pembina Pipeline Corp reaches a final investment decision on the Cedar LNG project,
WestJet receives a second strike notice from its union
FedEx forecasts higher fiscal 2025 profit
Microsoft valuation raised at Bank of America, maintaining its “Buy” rating and raised the price target from $210 to $220.
Blackstone acquires British hotel operator Village Hotels
Goldman Sachs appoints a new head of its Australian and New Zealand Equities division
GM’s robotaxi unit Cruise names a new CEO
Albemarle plans more auctions for lithium
BlackRock retains board seats at six funds
Boeing faces FAA directives for 757-200 airplanes
Doordash’s interest in acquiring Deliveroo ended over valuation disagreements
DuPont, 3M, and Honeywell are sued by Connecticut firefighters
Entegris signs a memorandum with the Biden administration for facility funding
KKR acquires a portfolio of multifamily real estate assets, Nasdaq and EEX cancel their Nordic power trading business deal
Norfolk Southern is criticized by the NTSB for its conduct in an Ohio derailment investigation
Nvidia’s shares surge after a three-session decline, while Citigroup maintained a “Buy” rating on Nvidia, raising the price target from $126 to $150, while Cantor Fitzgerald maintained an “Overweight” rating, increasing the price target from $140 to $175
Rivian’s shares rise after a $5 billion Volkswagen investment
Southwest Airlines lowers its second-quarter revenue forecast
Vista Outdoor and CSG receive regulatory approval for a business sale, and Bosch is considering a bid for Whirlpool
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