Sat. Jun 22nd, 2024
Small losses on Wall Street; Digital World Acquisition surges 30%

The stock market is experiencing subtle fluctuations worldwide, with slight declines on Wall Street and mixed results in Europe and Asia. In the US, the Nasdaq is trading around fundamental levels, while the Dow Jones and S&P 500 are down by 0.4% and 0.2%, respectively. Notable movements in the US market include Digital World Acquisition’s jump of around 30% due to its upcoming merger with Donald Trump’s social network, and Super Micro Computer’s surge of about 10% after a recommendation upgrade by JP Morgan.

In Europe, the markets are experiencing a mixed lock, with the DAX rising by 0.3%, the KAC trading around base levels, and the British FTSE falling by approximately 0.2%. Lucid Group Trading saw a surge in its share price after receiving a significant capital investment from a Saudi government fund, indicating a strategic move to diversify economic dependence on oil.

Investment houses have published optimistic forecasts regarding the S&P 500 index, with Oppenheimer raising its forecast to 5,500 and Goldman Sachs raising it to 6,000, mainly driven by large technology stocks. However, the trade war between the US and China is heating up as the Chinese government issues guidelines to block the use of American processors in computers and government servers, impacting companies like Intel, AMD, Microsoft, and others.

Boeing’s CEO announced his resignation amidst ongoing issues with the company’s planes, leading to a stock price increase of approximately 3% in pre-trade. Meanwhile, the European Union launched a counter-investigation against major tech companies like Alphabet (Google) and Meta Platforms (Facebook) under the Digital Markets Act legislation to ensure a fair and equitable digital market.

In Asia, stock exchanges are trading with mixed trends with indexes like Nikkei down by 1.2%, Hang Seng up by 0.2%, Shanghai Stock Exchange trading at a similar rate

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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