NonePeople gather in front of the New York Stock Exchange in New York’s Financial District on Tuesday, Dec. 10, 2024. (AP Photo/Peter Morgan) NEW YORK — U.S. stock indexes got back to climbing on Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 rose 0.8% to break its first two-day losing streak in nearly a month and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average, meanwhile, lagged the market with a dip of 99 points, or 0.2%. Stocks got a boost as expectations built that Wednesday’s inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week. READ: PSEi slides on disappointing economic data Traders are betting on a nearly 99% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. “The data have given the Fed the ‘all clear’ for next week, and today’s inflation data keep a January cut in active discussion,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times this year, with the latest coming last week. The biggest boosts for the index on Wednesday came from Nvidia and other Big Tech stocks. Their massive growth has made them Wall Street’s biggest stars for years, though other kinds of stocks have recently been catching up somewhat amid hopes for the broader U.S. economy. Tesla jumped 5.9% to finish above $420 at $424.77. It’s a level that Elon Musk made famous in a 2018 tweet when he said he had secured funding to take Tesla private at $420 per share. Stitch Fix soared 44.3% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue. GE Vernova rallied 5% for one of the biggest gains in the S&P 500. The energy company that spun out of General Electric said it would pay a 25 cent dividend every three months, and it approved a plan to send up to another $6 billion to its shareholders by buying back its own stock. On the losing end of Wall Street, Dave & Buster’s Entertainment tumbled 20.1% after reporting a worse loss for the latest quarter than expected. It also said CEO Chris Morris has resigned, and the board has been working with an executive-search firm for the last few months to find its next permanent leader. Albertsons fell 1.5% after filing a lawsuit against Kroger, saying it didn’t do enough for their proposed $24.6 billion merger agreement to win regulatory clearance. Albertsons said it’s seeking billions of dollars in damages from Kroger, whose stock rose 1%. A day earlier, judges in separate cases in Oregon and Washington nixed the supermarket giants’ merger. The grocers contended a combination could have helped them compete with big retailers like Walmart, Costco and Amazon, but critics said it would hurt competition. After terminating the merger agreement with Kroger, Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock. Macy’s slipped 0.8% after cutting some of its financial forecasts for the full year of 2024, including for how much profit it expects to make off each $1 of revenue. All told, the S&P 500 rose 49.28 points to 6,084.19. The Dow dipped 99.27 to 44,148.56, and the Nasdaq composite rallied 347.65 to 20,034.89. In the bond market, the yield on the 10-year Treasury rose to 4.27% from 4.23% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, edged up to 4.15% from 4.14%. In stock markets abroad, indexes rose across much of Europe and Asia. Hong Kong’s Hang Seng was an outlier and slipped 0.8% as Chinese leaders convened an annual planning meeting in Beijing that is expected to set economic policies and growth targets for the coming year. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . South Korea’s Kospi rose 1%, up for a second straight day as it climbs back following last week’s political turmoil where its president briefly declared martial law.Demand driving pickleball expansion
SAN DIEGO , Dec. 10, 2024 /PRNewswire/ -- Robbins LLP reminds investors that a class action was filed on behalf of persons and entities who purchased or otherwise acquired Match Group, Inc. ( NASDAQ : MTCH ) securities between May 2, 2023 and November 6, 2024 . Match Group, through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. For more information, submit a form , email attorney Aaron Dumas, Jr. , or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Match Group, Inc. (MTCH) Misled Investors Regarding its Business Prospects According to the complaint, on November 6, 2024 , Match Group published its Q3 2024 shareholder letter, disclosing that Tinder's monthly active user count was down 9% in Q3, which was the same rate of decline as in Q2, falling short of expectations for continued improvement. Further, Match Group's revenue per payer grew less than expected and some new features tested with Tinder users in the quarter negatively impacted subscription revenue, which the company said will likely also have an impact on fourth quarter revenue. Plaintiff alleges that Match Group materially understated the challenges affecting Tinder and, as a result, understated the risk that Tinder's monthly active user count would not recover by the time the Company reported its financial results for the third quarter of 2024. On this news, the price of Match stock fell by $6.77 per share, or 17.8%, to close at $31.11 per share on November 7, 2024 . What Now : You may be eligible to participate in the class action against Match Group, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 24, 2025 . A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP : Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Match Group, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Contact: Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 [email protected] (800) 350-6003 www.robbinsllp.com SOURCE Robbins LLPI’ve started admiring other men’s bodies at the pool and it makes me wonder if I’m gay
CHICAGO (AP) — Mark Scheifele snapped a third-period tie and Kyle Connor had two assists, helping the Winnipeg Jets beat Chicago 4-2 on Saturday in the first game for interim Blackhawks coach Anders Sorensen. Mason Appleton had a goal and an assist as the Jets picked up their second straight win after a four-game losing streak. Nino Niederreiter and Gabriel Vilardi also scored, and Connor Hellebuyck made 12 saves. Sorensen from the team’s top minor league affiliate when was fired on Thursday. Alex Vlasic scored for the second straight game for Chicago, which has dropped five in a row. Alec Martinez added his first goal of the season. The Blackhawks had a 2-1 lead before Niederreiter converted a backhander 13:10 into the second, beating Arvid Soderblom. It was Niederreiter’s 10th of the season. Soderblom entered 11 minutes into the game when Petr Mrazek appeared to aggravate a right groin pull. Appleton had an empty-net goal with 1:41 to play. Takeaways Jets: Winnipeg outplayed Chicago in the final 30 minutes, not only in shots but in puck possession. Blackhawks: Chicago played with more pace but it still struggled to get the puck to the net. They had only 14 shots on goal. Key moment Scheifele beat Jason Dickinson on the face-off that led to Winnipeg’s go-ahead goal. He slid the puck to Connor, then raced to the net for the rebound at 10:18. Key stat Blackhawks coaches, interim or full-time, are 6-7-1 in their first game behind the bench since the beginning of the 1995-96 season. Richardson lost his debut at the beginning of the 2022-23 season. Up next The Jets begin a four-game homestand against Columbus on Sunday. The Blackhawks are in New York on Monday night to play the Rangers. ___ AP NHL:NYT Tech Guild reaches agreement with leadership after years of bargaining
The Houston Astros are appearing more and more likely to lose free agent third baseman Alex Bregman via free agency this winter. A two-time World Series champion with the Astros, Bregman has signaled his willingness to move to second base to facilitate signing a long-term contract away from Houston. Several Major League Baseball teams are reported to be interested in acquiring the nine-year veteran's services going forward. As one anonymous MLB executive told ESPN's Jesse Rogers , "...other teams need his bat and battle-tested vet presence more than Houston does." Houston also has holes to fill at first base and in the outfield, no matter if Bregman stays or goes. According to RosterResource , the Astros' luxury tax number already stands at $234 million. That means the team is going to have to do some fancy dancing this offseason to make it all work. But a bargain option may be staring Space City in the face should Bregman depart. Just Baseball's Carson Weaver muses that former Chicago White Sox third baseman Yoan Moncada could fit the bill. "Signing Moncada to a low-risk deal if they can’t re-sign Bregman fits Brown’s history of betting on upside," Weaver said. "Battling health issues for the past three years, Moncada is a change of scenery candidate who has the potential to sign a prove-it deal." Moncada, a nine-year MLB veteran, has played mostly third base in his big-league career. He is talented, yet injury-prone. Once considered one of the rising stars in MLB, he provided reliable production in the middle of the White Sox lineup in the latter seasons of the last decade. Many believed Moncada was on his way to breaking out as a superstar in 2019 when he logged career bests with a .315 batting average, 25 home runs, and 79 RBI. After a sub-par season in the COVID-shortened 2020 campaign, he turned in a solid yet unspectacular 2021 by hitting .263 with 14 homers and 61 RBI. However, that's where the injuries began for Moncada. In 2022, he missed nearly 60 games due to quad, hamstring, foot, and oblique injuries. The next season, he played in just 92 games due to a recurring back issue. Last season, he played his fewest games (12) since his MLB-debut campaign with the Boston Red Sox in 2016 due to an adductor strain suffered in April. After hitting 25 round-trippers in 2019, Moncada took the ball deep just 23 times since the end of the 2021 season. The White Sox declined their $25 million team option to retain Moncada after the World Series ended, making him a free agent. Spotrac calculates Moncada's market value at $1.5 million on a one-year contract. More MLB: Might the Mariners be angling for a $66 million infield upgrade?Abee's 25 lead UNC Asheville over Saint Andrews 120-64
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