Thu, Jun 27, 2024 8:59 PM
Trade Setup for June 28: Nifty set for best month of 2024
A Flip by Riya Sharma
San Francisco Fed President Mary Daly has dismissed concerns of a "doom loop" in the city, citing its highly educated workforce, good infrastructure, and innovative spirit. Despite a 37% office vacancy rate, Daly notes that AI companies are seeking real estate again, and people are returning to work, causing traffic to worsen. She encourages business leaders to take action to make the city better.
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Chewy's stock surged 34% to $39.10 after Keith Gill, aka "Roaring Kitty," posted a dog picture on social media, triggering a short-lived rally. However, shares fell 10% to $26.25 the next day. PetCo's stock also jumped 13% to $3.78. Chewy's CEO cited cash flow generation as the company beat Q1 earnings expectations with $2.88 billion in revenue and 15 cents in earnings per share.
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Investors expect Japan's stock market rally to slow, leading to a shift in investments to rival markets. The Topix index is forecast to climb 2.9% to 2,890, and the Nikkei 225 Stock Average to rise 4.8% to 41,489 by year-end, a slowdown from the 18% advance in the first half. Concerns over the weak yen, inflation, and potential interest rate hikes weigh on sentiments.
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