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<US>DJIA Ends Up 408Pts as Odds of US Rate Cut Next Wk Hits 90%; Microsoft Slips 2%+
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U.S. private enterprises unexpectedly cut 32,000 jobs in November, whereas the market had originally projected an increment of 42,000 jobs. The likelihood of the Fed's 25-bps rate cut next week elevated to about 89%. Investors eyed on the U.S. economic outlook, and despite being initially dampened by Microsoft (MSFT.US), U.S. bourse rebounded to close higher on Wednesday. The DJIA leaped 408 points or 0.9% to end at 47,882. The Nasdaq added 40 points or 0.2% to finish at 23,454. The S&P 500 rose 20 points or 0.3% to settles at 6,849. Although Microsoft denied lowering sales quotas for AI-related software, its stock still fell off 2.5% at close. Hijacked by Microsoft, AI-related stocks subtracted, including chip manufacturer Nvidia (NVDA.US), which dipped 1%, and Broadcom (AVGO.US), which dropped 0.3%. Micron (MU.US) lost over 2%. Warner Bros. Discovery (WBD.US) reportedly received an almost all-cash acquisition offer from Netflix (NFLX.US), causing the latter's stock to slip nearly 5%. AASTOCKS Financial News Website: www.aastocks.com |
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