A trader wears a t-shirt with Reddit's logo, at the New York Stock Exchange in New York City, U.S., March 21, 2024.Stocks slipped on Friday, but the major averages headed for a winning week and the Dow Jones Industrial Average barreled toward its best week of the year.All three major averages are tracking for healthy gains this week, with the S&P 500 on pace for a 2.4% pop and the Nasdaq rising 2.6%. The Dow is the outperformer of the three, up 2.
Investors have "always been more aggressive on rate hikes and more aggressive on rate cuts than the fed funds futures markets, but the Fed has delivered through the dot plot and we finally lined up," he said. The social media stock slipped 2.7%, giving back a fraction of the gains from the prior day's IPO. Reddit soared more than 48% on Thursday afterfrom neutral. The bank sees an improved outlook for Best Buy, in part due to computing trends kicking in for back to school. JPMorgan also hiked its price target by $12 to $101, suggesting 26% upsidereported the EV maker had trimmed production output in China amid slowing sales growth.
South Korean electronics firms Samsung Electronics and LG Display lost 1.13% and 2.41% respectively. Both firms produce OLED screens for the iPhone.Taiwan's central bank raised its main policy rate from 1.
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