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Stock Market Today: Live Updates

2 hours ago

Invesco Solar ETF jumps more than 5% as Fed issues rate cut outlook

The Federal Reserve’s plans for three rate cuts in 2024 helped support the Invesco Solar ETF (TAN) on Wednesday.

The fund jumped almost 5.6%. The prospect of lower rates is good news for solar stocks. The sector is particularly sensitive to high interest rates, which hurt company valuations and increase financing costs.

TAN constituent Enphase Energy gained 7.8%, while SolarEdge Technologies jumped 8.4%. Sunrun soared nearly 20%, marking its best day in more than a year.

Still, stocks have had a rough year. Enphase and SolarEdge are down 59% and 71% in 2023, while Sunrun is down almost 38%.

Darla Mercado, Ethan Kraft

2 hours ago

Three major averages on the way to a seventh consecutive positive week

The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are all heading for their seventh straight week of gains.

Since the start of the week, the Dow Jones and the S&P are up 2.3% and 2.2%, respectively. The Nasdaq is also up 2.3% for the week.

If the Dow manages to close the week in the green, it would mark its longest winning streak since February 22, 2019, when it posted nine straight weeks of gains. The S&P 500 would record its longest winning streak since November 3, 2017 if it records another positive week.

Meanwhile, the Nasdaq would record its longest winning streak since June 16, 2023 if it finishes higher for the week.

-Hakyung Kim

3 hours ago

Stocks Make Biggest Moves After Hours

See which stocks are making the biggest moves post-market.

Adobe — Shares plunged more than 5% after issuing weak earnings and revenue guidance for full-year 2024. The company issued a revenue forecast of between $21.3 billion and $21.5 billion. of dollars in 2024. Analysts had estimated $21.73 billion, according to FactSet.

Vir Biotechnology — The immunology company lost 2.4% after announcing various cost-cutting measures, including a roughly 12% reduction in its workforce.

-Hakyung Kim

3 hours ago

Stock futures open near the flat line

The open of U.S. stock futures barely changed Wednesday evening.

Dow Jones Industrial Average futures added just 2 points, or 0.01%.

Futures contracts tied to the S&P 500 and Nasdaq Composite rose 0.02% and 0.06%, respectively.

-Hakyung Kim

Ray Richard

Head of technical department in some websites, I have been in the field of electronic journalism for 12 years and I am interested in travel, trips and discovering the world of technology.
Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
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