Small losses on Wall Street; Digital World Acquisition surges 30%

Global Stock Markets Experience Slight Declines as Various Factors Take Their Toll

The global trade market is experiencing slight declines on Wall Street, with the Nasdaq trading around fundamental levels, the Dow Jones down by 0.4%, and the S&P 500 down by 0.2%. Notable movements in the stock market include Digital World Acquisition jumping by around 30% due to its upcoming merger with Donald Trump’s social network, and Super Micro Computer’s stock surging by about 10% after a recommendation upgrade by JP Morgan.

Meanwhile, European markets are experiencing mixed trends, with the DAX rising by 0.3%, the KAC trading around base levels, and the British FTSE falling by approximately 0.2%. Lucid Group Trading saw a surge in its share price after receiving a significant capital investment from a Saudi government fund, indicating a strategic move to diversify economic dependence on oil.

Investment houses have published optimistic forecasts regarding the S&P 500 index, with Oppenheimer raising its forecast to 5,500 and Goldman Sachs raising it to 6,000 mainly driven by large technology stocks. The trade war between the US and China is heating up as the Chinese government issues guidelines to block the use of American processors in computers and government servers, impacting companies like Intel, AMD, Microsoft and others.

Boeing’s CEO announced his resignation amidst ongoing issues with the company’s planes leading to an increase of approximately 3% in pre-trade stock prices. The European Union has launched a counter-investigation against major tech companies like Alphabet (Google) and Meta Platforms (Facebook) under Digital Markets Act legislation to ensure a fair and equitable digital market.

In Asia, stock exchanges are trading with mixed trends with indexes like Nikkei down by 1.2%, Hang Seng up by 0.2%, Shanghai Stock Exchange trading at a similar rate while Kospi index is down by 0.2%. Overall, various factors worldwide are influencing stock prices and indices subtly while trade markets witness fluctuations.


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