Die. Thats the mantra so many businesses out here. The tsunami of invention disruption reaches far beyond this intense city and the valley that abuts it. The storm clouds darkening the fortunes of others in the inevitable riptide of creative destruction. The reverberations rattle whole industries with a wake so brutal they often determine the direction of stock prices in whole segments on a day where the dow dropped 55 points, s p lost. 16 and the nasdaq decreased. 24 lets just deal with the news. Take the biggest stock news of the day, the possible combination between shop and Td Ameritrade with the former buying the latter in a 26 billion combination that would create what might be an unbeatable 5 trillion online colossus these two companies have been sworn opponents ever since electronic trading became the way of the future more than 25 years ago. They have been in a battle for assets come on, its been incredible. And assets and commissions, the latter knowing no bounds with pervasi
Cut wall streets Immediate Reaction was pure suspicion. Oh, he doesnt have the heart in the rate cut hes not as worried as he should be hes being dragged kicking and screaming to this rate cut because things are weaker overseas, not here thats why the averages initially got hammered before the market peoplely came to its senses later in the afternoon. Dow only closing up 36 s p advancing 0. 03 and nasdaq declining 0. 11 . The u. S. Economy does have a lot of strength. It does. The rest of the world does have a lot of weakness so we got what pundits were calling a hawkish cut. Theyre so clever, meaning its the last rate cut or maybe the penultimate rate cut apparently that wasnt enough for some money managers. What do they want they were so disappointed they wanted to be surprised and wanted powell to tell us hes enthusiastic about easing and it will find a way to strongarm the others the bulls wanted Bill Belichick fed chief, okay. Lets get this done. Do your job chairman who wont let
Of war between inflationary pressures and the deflationary trends in china. And f and meet a company that made it their business to clean up environmental messes the ceo joins us ahead first, lets get the read on all of this with dom chu its red, but its not severe, not as much as yesterday. But still, seeing that slowing momentum ill get into that in a few seconds, kelly but if you look at the overall picture for the dow industrials, off one half of 1 , 153 points for the dow. The s p is at 4473, down 25 points, half of 1 decline there. At one point today, we were up about three points down roughly 38 at the lows. That is the trading range so far today. Again, watch the 4427 level. That represents the moving average of the s p 500 the nasdaq composite off 141 points to the downside 13,743 is the last trade there kelly mentioned some parts of slowing momentum in the market one place we are seeing it is in a red hot sector, that is computer chips, semiconductors right now, we are seeing
Its global sales. Plus, chips take a hit as amd and skyworks fail to impress investors. Police being called to the campus once again, arresting dozens of propalestinian protesters and clearing occupied academic buildings. It a is wednesday, may 1st, 2024, and youre watching Worldwide Exchange right here on cnbc. Ja good morning and welcome to Worldwide Exchange. Were coming to you live from cnbc london. Thank you for being with us. Lets get you ready for the trading day ahead. The s p is coming off its worst month since september and biggest drop since all the way back in january. Take a look at futures in the red. The dow off of its lows, but it looks look it would open just about 30 points lower. All the major averages are down from their recordhighs. Its worse for the russell 2000, which is now more than 19 from its alltime high. April also responsible for wiping out the majority of gains from the First Quarter of this year. Were talking 87 for the dow, 39 for the s p, and 34 from t
In a recent report, Pablo Zuanic of Zuanic & Associates analyzed trends in Canada's recreational cannabis market through May 2024. The report highlights a deceleration in market growth and notable shifts in sales dynamics among leading licensed producers (LPs).