Hey there, dear readers!
Today, let's dive into some exciting news from the world of stocks and main events. We have a lot to cover, so let's jump right in!
Nvidia's Quarterly Results Announcement
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The investing event of the year–maybe of the decade–is here: Nvidia's quarterly results announcement. Nvidia, the AI chip maker, has been making waves with its stunning sales and profit growth, propelling it to become the third most valuable company in the U.S. market. However, recent fluctuations in its stock price have raised some concerns. As Heard's Dan Gallagher wrote, Nvidia still has much to prove.
Amazon Joins the Dow Jones Industrial Average
🔍 What has happened since then
Amazon, the company that needs no introduction, has achieved yet another milestone. It is now the newest constituent of the Dow Jones Industrial Average, replacing Walgreens Boots Alliance. This distinction is a testament to Amazon's immense value and influence. Meanwhile, Walgreens Boots Alliance has seen a decline in performance since its inclusion in 2018. The future holds exciting possibilities for both companies.
The Future of Oil Prices
🔍 According to Heard's Jinjoo Lee
Get ready, U.S. motorists! The completion of a major pipeline will likely lead to slightly more expensive oil. This pipeline will allow more Canadian crude oil to be shipped abroad, reducing the deep discounts that U.S. refineries have been enjoying. While this may impact the pump prices, it's important to note that some U.S. refineries owned by the same companies will actually benefit.
Market Snapshot
In the market today, the tech-heavy Nasdaq saw some decline, but the S&P 500, which forms the basis of many Americans' retirement accounts, recovered and rose by a bit more than six points or 0.13%. Additionally, the yield on the benchmark 10-year U.S. Treasury note rose to 4.323%, reaching its highest point since late November. These developments have implications for the tech stock rally and the broader market.
That's all for today, folks! Stay tuned for more updates and exciting news from the world of stocks and main events.
Until next time,
Your enthusiastic writer
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