Fri, Jul 5, 2024 4:45 PM
These 3 S&P 500 Stocks Have All More Than Doubled This Year
A Flip by Riya Sharma
U.S. stocks start the week at new records ahead of earnings season and Federal Reserve testimony. The dollar weakened after Friday's employment report, fueling hopes for two Fed rate cuts this year. In Europe, French stocks gained 1% and government debt yields eased after the surprise election results. The euro retained gains to three-week highs against the dollar.
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📌Nike's latest financial results reported revenue of $12.6 bn, down 2% yoy, and missed consensus analyst estimates. 📌The company downgraded its guidance, expecting sales to decline by mid single digits in fiscal 2025. 📌Despite this, Nike reported a 45% increase in net income to $1.5 billion, thanks to a cost-cutting plan to reduce expenses by $2 billion.
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💰 Top Gainers in the Nifty index were Oil & Natural Gas Corporation (up 3.80%), ITC (up 2.29%), HDFC Life Insurance Company (up 2.23%), Hindustan Unilever (up 1.58%), and Tata Consumer (up 1.18%). 💰 Top Losers in the Nifty index were Divis Laboratories (down 3.57%), Titan Company (down 3.46%), Bharat Petroleum Corporation (down 2.33%), Shriram Finance (down 2.02%).
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