Hello readers!
Today, we have some exciting news from Wall Street. The Dow Jones Industrial Average rose 391 points, or 1.2%, and the S&P 500 gained 1.6%. Chip stocks, like KLA, Lam Research, and Applied Materials, saw significant gains of 5.5%, 5.4%, and 5.3% respectively. The technology sector was also in a celebratory mood, with Apple, Microsoft, and Meta Platforms rising 2.3%, 2.5%, and 2.6%. The Nasdaq Composite finished the session up 2.1%.
However, not all companies had a reason to celebrate. Diageo, the maker of Guiness beer and Johnnie Walker whisky, saw its shares tank 12% in London trading due to falling sales in Latin America.
In other news, private market fundraising is becoming more challenging, requiring many GPs to recalibrate and rethink resource allocation. On the other hand, foreign stocks are looking like a bargain, and it might be a good time to diversify and explore opportunities in the global market.
Stay tuned for more updates on the consumer price index and earnings reports from major retailers like Target, Walmart, Macy's, and Home Depot next week.
That's all for now. Thank you for reading!
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