The Dow Jones Industrial Average closed above 40,000 for the first time ever on Friday, marking a significant milestone in the stock market. This achievement comes after a five-week win streak fueled by optimism surrounding potential rate cuts and mostly positive quarterly earnings reports from major corporations. At the end of the trading day at
Achievement
The Dow Jones Industrial Average has made headlines by breaking above the 40,000 mark, a feat that seemed unimaginable just a year ago. This remarkable achievement has been driven by investor optimism surrounding the potential for artificial intelligence to boost corporate profits and the likelihood of the Federal Reserve cutting rates as inflation eases post-pandemic.
Singapore's Oversea-Chinese Banking Corp (OCBC) has recently reported a 5% increase in first-quarter profit, exceeding market expectations. In a bold move, the bank has also made a S$1.4 billion ($1.04 billion) offer to acquire its insurer arm Great Eastern, showcasing its commitment to strategic investments and portfolio enhancement. The offer, which includes a 37% premium
Meta Platforms, the parent company of Facebook, experienced a significant drop of over 14% following the release of lighter-than-expected second-quarter revenue guidance. While first-quarter earnings and revenue exceeded analysts' estimates, the disappointing second-quarter guidance caused a steep decline in the company's stock value. This indicates that investors are particularly focused on future performance and growth
Despite the lack of wide releases on a global scale in recent months, Warner Bros/Legendary Entertainment's Godzilla x Kong: The New Empire has maintained its position as the top studio movie for the fourth consecutive weekend. With a strong showing in international markets, the film has grossed $485.2M globally, with $313.6M coming from overseas. This
India has kickstarted the world's largest election process as Prime Minister Narendra Modi vies for a third term in office. The election, spanning seven days and involving almost one billion voters, is set against the backdrop of economic growth, welfare initiatives, Modi's personal popularity, and the rise of Hindu nationalism. Modi's Campaign and Promises Prime
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