5 Things to Know Before the Stock Market Opens

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Amara

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Jul 18, 2024
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1. Dow Jones Hits New Record:
  • The Dow Jones Industrial Average reached an all-time high, gaining 228.30 points (0.55%).
  • The S&P 500 remained near its high, closing at 5,633.09.
  • Nasdaq fell, with Nvidia and Apple facing declines, including a 2.8% drop for Apple.
2. Amazon Changes Work Policy:
  • Amazon CEO Andy Jassy announced that starting January 2, 2025, corporate workers must be in the office five days a week, moving away from the hybrid schedule.
  • Jassy aims to streamline management, and Amazon delivery drivers in New York joined the Teamsters Union.
3. Intel Restructures:
  • Intel plans to spin off its foundry business as a subsidiary, allowing for outside funding.
  • CEO Pat Gelsinger’s turnaround strategy includes a deal with Amazon to produce AI chips.
4. Boeing Freezes Hiring:
  • Boeing is freezing hiring and cutting nonessential spending after 30,000 workers went on strike.
  • The company will reduce supplier costs but will maintain safety and customer support.
5. Charter Communications Revamps Services:
  • Charter Communications is improving its image by rolling out new bundles, raising internet speeds, offering outage credits, and enhancing service reliability amidst slowing broadband growth.
 
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