Here are five important things investors need to know to start the trading day:
1. Bouncing
I The Dow Jones Industrial Average hit a new record close on Wednesday, recovering from its previous day’s high. The 30-share index gained 337.28 points, or 0.79%, while the S&P 500 rose 0.47% and the Nasdaq Composite added 0.28%. Earnings season is off to a strong start, helping to energize markets, as 79% of the 50 S&P 500 stocks that have posted third-quarter earnings so far have topped expectations. Morgan Stanley shares added 6.5% on Wednesday and United Airlines stock rose 12.4% after the companies reported filings. Follow live market updates.
2. The nuclear option
An Amazon Web Services data center in Stone Ridge, Virginia, US, Sunday, July 28, 2024. Data center developers in Northern Virginia asked Dominion Energy Inc. more power can be produced by a few nuclear reactors, in the latter case. of how artificial intelligence is helping to increase demand for electricity.
Nathan Howard Bloomberg | Getty Images
Amazon it will go nuclear. The company said Tuesday it is investing $500 million to develop small modular nuclear reactors. As part of this initiative, Amazon’s cloud computing subsidiary AWS is partnering with Dominion Energy, a Virginia-based company, to explore the development of an advanced type of small-space nuclear reactor near Dominion’s existing North Anna nuclear power station. Virginia plays a significant role in Internet traffic and nearly half of the data centers in the US are located in the state. Amazon is the latest major tech company to back nuclear power as it aims to reach net-zero carbon emissions.
3. The chip craze
The logo of Taiwan Semiconductor Manufacturing Company is displayed on the lower screen of the New York Stock Exchange on September 26, 2023.
Brendan McDermid | Reuters
The demand for AI chips is always hot. US stocks of Taiwan Semiconductor Manufacturing Company rose more than 8% in aftermarket trading Thursday as the company reported a 54% rise in third-quarter profit, beating analyst expectations. The chipmaker also forecast annual revenue growth for the fourth quarter. TSMC, the world’s largest manufacturer of advanced chips, counts Apple and Nvidia among its customers.
4. Where there is WLFI
Republican presidential nominee and former US President Donald Trump looks on as he participates in a town hall presented by the Spanish-language network Univision, in Doral, Florida, US, October 16, 2024.
Marco Bello Reuters
“WLFI”, a crypto coin that was adopted by former President Donald Trump, started slowly. Just a day after the crypto bank World Liberty Financial started the sale of tokens, it sold less than 4% of the 20 billion tokens made available, a value worth about $ 11.8 million. The fundraising goal was set at $300 million. The new coin has faced problems, as the website that acts as a marketplace has suffered from prolonged downtime, and retail investors have been largely cut off from the process due to the way the token is registered.
5. Change
Sal Frelick of the Milwaukee Brewers hits a double during the fourth inning of Game 2 of the National League wild card baseball game against the New York Mets on Tuesday, Oct. 1, 2024, in Milwaukee.
Morry Gash AP
Diamond Sports has reached a creative rights deal with sports betting company FanDuel to rebrand Bally Sports channels. Pending Diamond’s exit from bankruptcy, FanDuel will also have the right to purchase equity in the reorganized company. The move comes just after the start of the NHL season and with the NBA playoffs less than a week away. It’s the latest shakeup for Diamond, which said earlier this month in bankruptcy proceedings that it plans to drop all of its MLB teams. Meanwhile, MLB playoff viewership on TNT Sports and Fox Sports is up this year.
– CNBC’s Lisa Kailai Han, Diana Olick, Ruxandra Iordache, MacKenzie Sigalos and Jake Piazza contributed to this report.
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