In the story from May 30, corrections have been made to the closing price (now $51.84 instead of $51.12) in paragraph 2, clarification that the IPO was launched via a merger with a SPAC in paragraph 4, and the highest close corrected to $66.22 (not $79.38) in paragraph 5. By Chibuike Oguh NEW YORK […]

  Bitcoin prices edged up on Friday as traders remained cautious about cryptocurrencies ahead of key U.S. inflation data, which could influence the outlook for interest rates. Despite this caution, Bitcoin has maintained significant gains for May. The overnight decline in the dollar provided little relief to crypto prices, as concerns persisted about prolonged high

  In a note on Friday, analysts at Morgan Stanley expressed that Rivian Automotive (NASDAQ) is “uniquely positioned within autos” to scale a fully integrated software stack, which is crucial for leveraging AI opportunities. The investment bank recently hosted Rivian CEO RJ Scaringe and his team for an investor lunch at their Manhattan headquarters. During

  The dollar declined on Friday following data indicating that U.S. inflation rose as expected in April. This put the currency on track for its first monthly decline in 2024. The personal consumption expenditures (PCE) price index rose by 0.3% last month, according to the Commerce Department’s Bureau of Economic Analysis, matching the unrevised increase

    U.S. inflation remained steady in April, raising concerns for the U.S. central bank that the elevated pace of price increases may persist longer than anticipated, potentially delaying interest rate cuts. The personal consumption expenditures (PCE) price index, a key inflation measure for the Federal Reserve, rose by 0.3% in April, matching the increase

  The Canadian economy grew at an annualized rate of 1.7% in the first quarter, falling short of expectations, with real gross domestic product (GDP) likely rising by 0.3% on a monthly basis in April, according to data released on Friday. This quarterly growth rate lagged behind the 2.2% pace predicted by analysts in a

    Strategas analysts have found that historical data indicates a Republican-controlled Congress results in the strongest earnings growth for the S&P 500. They observed that, on average, a Republican Congress leads to an impressive 15.5% earnings growth for the index during periods of Republican dominance. This insight originates from Strategas’ Washington Policy team, which

    A New York jury has convicted Donald Trump in the high-profile hush money trial amid his bid to reclaim the presidency. After two days of deliberation, the 12-member jury found Trump guilty on all 34 counts, including falsifying documents to cover up a payment to silence a porn star before the 2016 election.

  U.S. stocks rose on Friday, reversing earlier declines after signs of cooling inflation boosted hopes for upcoming interest rate cuts by the Federal Reserve. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average increased by 75 points, or 0.2%, the S&P 500 climbed by 7 points, or 0.1%, and the NASDAQ Composite gained