Nasdaq Rises Amid Mixed Market Performance; FedEx and Cocoa Futures See Gains
While the Nasdaq Composite edges into positive territory, FedEx's shares jump, and cocoa futures reach new highs.
- US stocks show mixed performance with Nasdaq entering positive territory, while Dow Jones falls and S&P 500 remains flat.
- FedEx shares surge following a profit beat and improved operating margins, contrasting with Nike's drop due to disappointing sales guidance.
- Cocoa futures hit record highs amid a supply shortage, marking a significant rally driven by poor harvests in West Africa.
- Reddit's shares decline after a strong IPO debut, as the company aims to leverage its user conversations for AI tools.
- Goldman Sachs predicts a 13% increase in stock buybacks for 2024, fueled by accelerating earnings growth despite political uncertainties.
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