U.S. stocks slipped Friday but registered solid weekly gains with all three of the major benchmarks rising following the Federal Reserve’s pause on interest rates and AI developments that drove big tech sending shares of Microsoft and Apple to all-time highs, as Nvidia’s market cap topped $1 trillion.
Weekly Gains
Nasdaq Composite: +3.3%
S&P 500: +2.6%
Dow Jones Industrial Average: +1.3%
UPS, which is the largest employer of Teamster workers, is at odds with the union over the new contract, authorizing a strike. Whether that actually happens remains to be seen.
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Disney's longtime CFO is out amid a shakeup at the media giant as Bob Iger, who returned to the company after Bob Chapek's ouster, continues to push a turnaround.
Anheuser-Busch, parent of embattled Bud Light, is speaking out about the controversy over its transgender promotion with activist Dylan Mulvaney which has hit the stock since late March.
Shares of Richard Branson's Virgin Galactic soared on Friday after revealing it will start commerical space flights upping the competition against rivals including Elon Musk's SpaceX and Jeff Bezos' Blue Origin.
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Larry Ellison, who owns over 40% of Oracle shares, has seen his wealth balloon thanks to the tech-giant's big push into AI.
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