Run on Karuna Therapeutics
Wall Street is taking it easy before Christmas
December 22, 2023, 11:18 p.m
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Wall Street is heading into the Christmas holidays with an inconsistent trend; there are hardly any changes in the US indices at the close of trading. The papers of a research company trigger desire among investors.
Wall Street closed mixed on the last trading day before Christmas. Before the long weekend, the stock market players didn’t want to be caught on the wrong foot. The Dow Jones Index the standard values fell 0.1 percent lower to 37,385 points from trading. The technology-heavy one Nasdaq On the other hand, it advanced 0.2 percent to 14,992 points. The broad one S&P 500 gained 0.2 percent to 4754 points.
In early business, interest rate hopes had driven Wall Street after the publication of an important inflation indicator. The PCE core index, which is particularly important for the US Federal Reserve when it raises interest rates in the fight against inflation, fell to 3.2 percent in November. This is the smallest increase in the annual inflation rate since April 2021. Economists had expected 3.3 percent after 3.4 percent in October. “The 3.2 percent is a victory for the Fed, which remains focused on restoring price stability without endangering the economy,” said Quincy Krosby, chief strategist at asset manager LPL Financial.
The sporting goods manufacturers were in the spotlight among companies. A forecast reduction Nike pushed the industry giant’s shares down by almost twelve percent. The rivals’ papers Foot Locker and Dick’s Sporting Goods lost almost four and almost three percent in their wake.
What was asked were against it Karuna Therapeutics with a price increase of almost 50 percent. The pharmaceutical company Bristol Myers Squib (BMS) According to the Wall Street Journal, wants to buy the research company that is working on a drug against schizophrenia for $14 billion.
A further increase in shares by the investment company of stock market guru Warren Buffett pushed the shares up Occidental Petroleum at. The US oil company’s shares rose by 0.6 percent. According to a mandatory publication, Berkshire Hathaway bought 2.14 million Occidental shares for a total of $112.1 million at the end of June, increasing its stake to more than 25 percent. Berkshire has been regularly buying Occidental shares since the start of the Ukraine war and the subsequent rise in oil prices. However, the company had announced that it had no intention of taking over the group.
The shares of Ansys were hotly sought after by investors in late trading. The shares of the simulation software manufacturer jumped 18 percent. Reuters had previously learned from people familiar with the matter that Synopsys, a maker of chip design software, had made an offer to acquire Ansys. Ansys has a market value of around $30 billion. Synopsys Papers On the other hand, more than six percent lost ground.