The Bank of Canada will eliminate 10% of its staff...
Read MoreMarkets Wrap: Dow Surges 400 Points, Small Caps Lead Gains, Bitcoin Soars
Market Overview:
The Dow Jones Industrial Average advanced on Friday, continuing the positive trend across U.S. stock indexes. The blue-chip Dow rose by 384 points, or 0.9%, while the S&P 500 added 0.3%, and the Nasdaq Composite gained 0.2%. Although the technology sector struggled, with Nvidia and Alphabet seeing notable declines, all three major indexes are on track to end the week up by over 1.5%. This marks a positive shift from last week’s stalled post-election rally. Investors are rotating out of tech stocks and into more economically sensitive sectors like industrials and consumer discretionary, contributing to broader market gains. Small-cap stocks also performed well, with the Russell 2000 climbing 1.9%, set to finish the week up more than 4%. Bitcoin approached the $100,000 mark, continuing its rally amid favorable market conditions.
Corporate News:
- Ally Financial Inc. is reportedly exploring a sale of its credit card arm, following its re-entry into the business through an acquisition three years ago.
- Gap Inc. stock surged after the company raised its full-year outlook, driven by increased demand from wealthier consumers seeking value in the retailer’s offerings.
- Nvidia Corp. is facing a challenge for its charitable foundation, as its rapidly rising share price increases the amount of money the foundation must distribute.
- Walmart Inc. is set to exceed its employee bonus targets for the year, fueled by the company’s strong stock performance and its ability to outperform retail rivals.
*All data in this blog is sourced from reputable media outlets such as CNBC, Yahoo Finance, and Bloomberg. If any content infringes on copyright, please notify us for immediate removal.
Recent Posts
You may also interested in
Ontario Fiscal Update to Focus on Infrastructure and Jobs Amid University Funding Crisis| AiF News Bites
Ontario’s fall fiscal update will emphasize jobs and infrastructure as...
Read MoreHigh Living Costs Push Canadians to Delay Home Purchases and Retirement Savings| AiF News Bites
A new survey shows 58% of Canadians have delayed major...
Read MoreToronto Homeowner Locked Out After Missing One Mortgage Payment as GTA Faces Wave of Power-of-Sale Listings| AiF News Bites
A 63-year-old Toronto homeowner lost her house after one missed...
Read More