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Shares look to increase their successful streak: The S&P 500 closed at 4,838.96 factors on Friday, its highest shut in two years, whereas the Dow Jones hit 37,863.80, additionally a document. The all-time highs comes as semiconductor and know-how shares—like Qualcomm, Marvell Know-how, Microsoft and Apple—soar because of optimism surrounding the way forward for AI. Will markets be capable to prolong their streak as corporations start releasing their newest earnings? Netflix, Verizon, Tesla, and IBM are set to report this week. Inventory futures rose barely Sunday night time. Full story.
Mortgage charges on the decline: The typical 30-year U.S. mortgage charge fell to six.6% final week, reaching its lowest stage since Could, mortgage purchaser Freddie Mac mentioned in a press release Thursday. The decline comes after the 30-year mortgage charge soared to 7.79% in late October, its highest stage since 2000. Full story.
Sports activities Illustrated layoffs: In an electronic mail despatched Friday morning, the journal’s writer introduced plans to put off many or the entire journal’s workers after Genuine Manufacturers Group revoked its license to make use of the Sports activities Illustrated title in digital and print. The information comes after the journal confronted hurdles like tumultuous possession adjustments and a fired CEO in recent times. The journal’s union launched a press release calling for ABG to proceed publishing SI to proceed its almost 70 12 months historical past. Full story.
Macy’s new retail technique: In an announcement launched Thursday, Macy’s revealed plans to shutter 5 shops and lay off round 2,350 workers. The information comes after Macy’s mentioned it is going to open 30 scaled-down stores at strip malls throughout the nation within the subsequent two years, a part of its new technique in response to altering client habits and an uptick in on-line purchasing. Full story.
Japan’s moon touchdown: A Japanese spacecraft landed on the moon on Saturday, making it the fifth nation to finish a lunar touchdown. The profitable mission comes on the heels of a Japanese firm’s failed try in April, and because the U.S. and Russia plan for moon missions in 2026 and 2027 respectively. India and China have additionally made important investments of their area applications in recent times. Full story.
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