Hey there, readers! Today, let's dive into the exciting world of stocks and market events. Strap in, because we have a lot to cover!
First up, General Motors made some waves with their bullish profit outlook for 2024. They plan to introduce plug-in hybrid models to North America, aiming to avoid last year's electric-vehicle program issues. You can find more details here.
On the flip side, UPS reported a revenue decline and gave sales guidance below expectations. They also announced job cuts, which sent their shares plummeting. More on this here.
Another big loser on the S&P 500 was oilfield services giant SLB. Their shares slid after Saudi national oil company Aramco decided to maintain oil production capacity instead of growing it. Check out the details here.
Now, let's talk about the Federal Reserve. While no rate changes are expected, tomorrow's announcement will provide valuable insights into the future direction of borrowing costs. Traders have had this date circled on their calendars for a while now. Stay tuned!
Stock indexes had a mixed day, with the Nasdaq Composite down 0.8% and the S&P 500 down 0.1%. However, the Dow Jones Industrial Average rose 0.4%, or 134 points. It's always a rollercoaster in the market!
That's all for today, folks! Stay tuned for more market updates and exciting news. Happy investing!
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