• Fri. May 24th, 2024

Global Markets Mixed: Wall Street, Europe and Asia in Brief

BySamantha Jones

Mar 25, 2024
Digital World Acquisition sees 30% increase as Wall Street experiences minor drops

Wall Street saw slight declines at 20:15, with the Nasdaq trading around fundamental levels, the Dow Jones down 0.4%, and the S&P 500 down 0.2%. Notable stock movements included Digital World Acquisition jumping by about 30% due to an upcoming merger with Donald Trump’s social network, and Super Micro Computer’s stock increasing by 10% after JP Morgan upgraded their recommendation on the stock.

In Europe, the DAX rose 0.3%, while the KAC traded around base levels, and the British FTSE fell by about 0.2%. The Saudi government invested NIS 1 billion in electric car manufacturer Lucid Group, which saw its stock surge as part of Saudi Arabia’s efforts to diversify its economic dependence on oil.

Camtech announced a new order worth approximately $25 million from a tier-1 manufacturer of HBM components for testing and measuring broadband memory components. High-performance computing applications, including HBM, are expected to see significant growth in the coming years.

Two investment houses published optimistic forecasts for the S&P 500 index: Oppenheimer raised its forecast to 5,500 and Goldman Sachs increased its forecast to 6,000 driven by large technology stocks. Boeing CEO announced his resignation amidst ongoing issues with the company’s planes.

The Chinese government implemented new guidelines to block American processors from Intel, AMD, Microsoft and others in order to promote Chinese alternatives in technology sector. Investigations were launched into Google, Apple and Meta Platforms under Digital Markets Act legislation in EU to ensure fair digital market practices .

Apple announced collaboration with Chinese internet giant Baidu for AI services in its software in China as a strategic move to increase iPhone sales regionally . The mixed market trends continued in Asia and Europe where oil prices traded slightly higher than usual . Companies like Tesla faced challenges in electric vehicle market while chip companies like Intel and AMD experienced regulatory pressures in China due to trade restrictions imposed by Beijing government on foreign companies operating within country’s borders

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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