Thursday, 6 June 2024: Several pieces of economic data pointed to a slowing U.S. economy
Jun 6, 2024 ·
5m 26s
Sign up for free
Listen to this episode and many more. Enjoy the best podcasts on Spreaker!
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
US equity markets rallied, with the S&P 500 and Nasdaq hitting fresh record highs after several pieces of economic data pointed to a slowing U.S. economy, raising hopes for interest...
show more
US equity markets rallied, with the S&P 500 and Nasdaq hitting fresh record highs after several pieces of economic data pointed to a slowing U.S. economy, raising hopes for interest rate cuts later this year - Dow added +96-points or +0.25%. Intel Corp rose +2.50% after announcing after the close of the previous session that it would sell a 49% stake in Irish manufacturing venture Fab34 to Apollo Global Management for US$11B. The investment is part of Intel's "Smart Capital" strategy, its plan to revitalize and expand its supply chain without putting too much strain on its own balance sheet by bringing in outside investments. Intel will retain a 51% controlling stake in the Fab 34 facility.
show less
Information
| Author | Morgans Financial Limited |
| Organization | Morgans Financial Limited |
| Website | - |
| Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
