Here are 5 vital points financiers require to recognize to begin the trading day:
1. Seeing and waiting
The S&P 500 closed little changed on Thursday, ending the day just 0.09% higher, as investors wait for fresh inflation data (more on that below). The Nasdaq Composite, meanwhile, rose 0.30%, while the Dow Jones Industrial Average added only 36.26 points, or 0.09%. Key semiconductor stocks fell for the day, as Micron shares dropped more than 7% and market bellwether Nvidia dipped 1.9%. Follow live market updates.
2. Big inflation reading
A shopper carries an H&M bag in the Georgetown neighborhood of Washington, DC, US, on Thursday, May 30, 2024.Â
Al Drago | Bloomberg | Getty Images
3. Cooling off
A “sale pending” sign is posted in front of a home for sale on November 30, 2023 in Larkspur, California.Â
Justin Sullivan | Getty Images
4. Walgreens wanes
Walgreens logo is seen on a truck semitrailer in Florida Keys, United States on May 7, 2024.Â
Jakub Porzycki | Nurphoto | Getty Images
Shares of Walgreens plunged 22% on Thursday after the company reported earnings that fell short of expectations and slashed its full-year adjusted profit outlook. The retail pharmacy giant said it was facing a “challenging” environment. â³’We assumed … in the second half that the consumer would get somewhat stronger” but “that is not the case,” CEO Tim Wentworth told CNBC. The results come as Walgreens works to simplify its U.S. healthcare portfolio and slash costs by closing underperforming U.S. stores, among other things.
5. Up for debate
Democratic Party presidential candidate U.S. President Joe Biden and Republican presidential candidate former U.S. President Donald Trump speak during a presidential debate in Atlanta, Georgia, U.S., June 27, 2024 in a combination photo.
Brian Snyder | Reuters
President Joe Biden and former President Donald Trump faced off in their first debate of the 2024 presidential campaign on Thursday. The two argued for 90 minutes and touched on topics including the economy, concerns about their ages, abortion and more. The debate came as Trump faces two criminal prosecutions over his efforts to overturn his loss in the 2020 election to Biden. But Biden’s campaign faced hard questions after the event wrapped, and worried Democratic campaign donors and fundraisers started to express concerns about his disappointing performance less than 20 minutes into the debate.
â CNBC’s Hakyung Kim, Jeff Cox, Diana Olick, Annika Kim Constantino, Dan Mangan, Kevin Breuninger, Christina Wilkie, Brian Schwartz, Rebecca Picciotto and Josephine Rozzelle contributed to this report.
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