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S&P 500 And Dow Reach Record Highs With An Emphasis On Technology And Retail.
(VOR News) – Retail took centre stage as the Christmas shopping season began, but the S&P 500 and the Dow Jones Industrial Average also reached record closing highs during a brief Black Friday session. The outstanding performance of tech stocks like Nvidia was a major factor in this.
Manufacturers also contributed to the success of the blue-chip Dow and the benchmark S&P 500. These businesses are in the field of information technology.
Tesla had a 3.7% increase, while NVIDIA saw a 2% increase.
The reaction of consumers to the high Black Friday prices was widely observed by investors. Adobe Analytics predicted a 9.9% increase in consumer spending on online products, reaching a record $10.8 billion, compared to Black Friday the previous year.
The S&P 500 stocks of Macy’s and Target both increased 1.8%.
The S&P 500 index increased by 0.56% to reach 6,032.44 points after hitting an intraday record high of 6,025.42 points on November 26th. The Dow Jones Industrial Average is currently at 44,910.65 points, up 0.42%. The Nasdaq increased by 0.83% to 19,218.17 points.
“A significant amount of imports are handled by retailers. Ross Mayfield, an analyst at Baird, contends that “because inventory levels are very important to their profitability and ability to kind of control margins, they will be one of the industries that will be caught in the crossfire of tariffs.”
“But so far… (things are)… looking pretty solid for the Black Friday, Cyber Monday sale.”
The Philadelphia SE Semiconductor index increased 1.5% as chip makers recovered from Wednesday’s losses.
The performance of the small-cap Russell 2000 index increased by 0.4% as Treasury bond yields continued to fall from multi-month highs.
Wall Street’s major indices closed down on Wednesday, with the Nasdaq leading the decline. This resulted from concerns that the Fed could be hesitant to drop interest rates in response to the United States’ continuously high inflation figures, which had decreased on Thanksgiving Eve.
The most recent spike in the S&P 500 stock market was caused by Donald Trump’s victory in the US presidential election earlier this month. His Republican Party also gained majorities in both chambers of Congress as a result of this triumph.
The stock’s worth was determined by taking into account investors’ expectations that Trump’s pro-business policies would increase company profits and economic development. On the other hand, there was widespread worry that they could impact global economic growth, slow down the rate at which the Fed is reducing interest rates, and lead to inflation.
According to FedWatch, a publication of the CME Group, traders anticipate that the Fed will reduce borrowing costs by 25 basis points at its December meeting but will halt rate cuts in January.
S&P 500 bitcoin stocks jumped 1.9%, boosting MARA Holdings.
Following the US Food and Drug Administration’s decision to deny approval of Applied Therapeutics’ medication for the treatment of a rare genetic metabolic disorder, the company’s stock price fell 76%.
On the New York Stock Exchange, decliners were dominated by forward-moving products by a ratio of 2.46 to 1. There were 386 new highs and 63 new lows on the New York Stock Exchange.
The Nasdaq Composite hit 116 new highs during the same time period, while the S&P 500 saw 31 new 52-week highs overall and no new lows.
The volume of shares traded on American exchanges during a shortened trading week was 8.15 billion, significantly less than the average volume of approximately 15 billion shares moved during full sessions over the previous 20 trading days.
The S&P 500 index increased by 1.06%, the Nasdaq by 1.13%, and the Dow by 1.39% throughout the week. The Russell 2000 Small Cap index increased 1.48 percent after setting a record high earlier in the week.
SOURCE: USN
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Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman’s writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity.
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The Canada Gun Ban Trudeau Adds 325 New Firearms
The Canada gun ban by Trudeau and his Liberals has added three-hundred and twenty-four firearm makes and models and variants to the banned weapons list, on Thursday.
“It is no longer legal to use, sell, or import these firearms in Canada,” Public Safety Minister Dominic LeBlanc informed reporters.
According to RCMP Deputy Commissioner Bryan Larkin, the models evaluated and included on the list are assault-style guns as defined by the government in 2020. In the past, the Liberals prohibited 1,500 models using that criterion.
Current owners will have until October 30 of next year to comply with the ban during an amnesty period. The government’s intended buy-back program will include the new models.
The Canadian Coalition for Firearm Rights (CCFR)’s Tracey Wilson blasted the Trudeau administration, claiming that the Liberals have not learnt anything from their eight-year effort to seize firearms from their rightful owners.
“They know they are out of time and Canadians are out of money, so this is just typical Liberal Party divide-and-conquer politics,” she added. They are aware that in less than ten months, the Conservatives will repeal everything.
They haven’t responded to law enforcement’s pleas, taken action against violent offenders who commit the same crimes repeatedly, or used an Order in Council to address the daily violence that afflicts Canada. Nothing.
Wilson also took issue with the government’s summary implementation of gun control laws through orders-in-council rather than through legislation.
Nicolas Johnson, a policy analyst and editor of thegunblog.ca, stated that he is not aware of any gun owner who expresses any desire or motivation to surrender their lawfully acquired firearms.
He told the Toronto Sun, “The Liberals have no idea how to carry out their confiscation fantasy, no money to pay for it, and no way to enforce it.” “With this most recent measure, the Liberals are coming across as more extreme, desperate, and weak.”
Even Liberal MPs opposed the Trudeau Liberals’ earlier attempts to impose universal gun control laws because they were so unpopular.
The Liberals subtly introduced two amendments to their gun control bill C-21 in 2022, which would have prohibited the lawful guns used by sport shooters and hunters on a daily basis.
Following strong resistance from hunters, sports shooters, and First Nations, the Liberals retracted those proposals. The opposition Conservatives called this a “humiliating climb-down” for the prime minister.
As of this writing, there is no list of the Canada gun ban for these 325 prohibited firearms.
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Man Leaps onto Polar Bear to Defend His Wife in Northern Canada
Police say a man in Canada’s far north is recovering from injuries sustained when he jumped atop a polar bear to protect his wife from mauling.
The incident occurred at Fort Severn First Nations, a small community of approximately 400 people in far northern Ontario.
The nameless man was seriously injured but is likely to recover, according to a First Nations police officer.
On Tuesday, about 05:00 local time (11:00 GMT), the couple exited their house to find their dogs, when a bear on the driveway sprang at the man’s wife. He instantly jumped onto a polar bear to defend his wife from getting mauled.
“The woman slipped to the ground as her husband leapt onto the animal to prevent its attack,” police said in a statement. “The bear then attacked the man, causing serious but non-life-threatening injuries to his arm and legs.”
A neighbour arrived with a rifle and shot the bear multiple times. It retreated into the neighbouring woods, where it perished from its injuries.
He was later was transferred to a community nursing station and treated for his injuries.
Police stated they “continued to patrol the area to ensure there were no other bears roaming the community.”
According to Alysa McCall, a scientist with Polar Bear International, polar bears rarely attack humans.
When an attack occurs, the bear is frequently hungry, young, and ill, she explained. Normally, bears avoid human towns and prefer to hunt ice seals at sea.
“If you’re attacked by a polar bear, definitely do not play dead — that is a myth, “you fight as long as you can.”
According to Wikipedia, Fort Severn First Nation is a Western Swampy Cree First Nation band government located on the Severn River near Hudson Bay. It is the most northern community in Ontario, Canada. In 2001, the population was 401, consisting of 90 families in an area of 40 square kilometres.
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Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas’ articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.
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Macron of France Will Complete His Tenure And Choose a New Prime Minister Shortly.
(VOR News) – The current French President, Emmanuel Macron, reportedly promised on Thursday to stay in office until the end of his term, which runs until 2027.
Moreover, he said he would appoint a new Prime Minister within a few days after Michel Barnier left, which explained his dismissal from the Prime Ministerial post.
Macron emerged the day following the unheard-of National Assembly vote of no confidence. The vote of no confidence left France without a functioning government. Instead of owning the flaws in his own government, he blamed his opponent on the extreme right for the downfall of Barnier’s rule.
They arrived at a decision. He described using the phrase “not to do but to undo”. “They preferred anarchy.”
According to the US President, the far-right and far-left have teamed to produce what he calls “an anti-Republican front.”
Furthermore, Macron’s carelessness will not be blamed on him.
Although he did not say anything about the name of the next prime minister in his statement, he said that he would choose a new prime minister during the next days.
The Elysee presidential palace’s communiqué said that President Macron “acknowledged” the resignation Barnier had turned in earlier that day. According to the statement, until a new government is chosen, Barnier and other ministers will keep responsibility for current affairs. The sentence included this phrase.
Following just three months in office, Barnier was obliged to resign as prime minister, hence shortening his tenure in modern France. Support for the no-confidence resolution—which the National Assembly finally approved—was shown in 331 votes overall.
In a parliament without a majority, Macron must choose a successor able of running a minority government. This is a difficult project. President of the National Assembly Yael Braun-Pivet, a Macron party member, advised him to act quickly.
Braun-Pivet made a statement on Thursday that France Inter radio carried. “I advise that he promptly pick a new prime minister,” she said. Regarding political issues, uncertainty had no place. Essential is a leader who can successfully interact with all the stakeholders and help to approve a new budget item.
Still, the approach could be difficult. French media claims that a shortlist of moderate candidates with ability to appeal to both political extremes has been produced. Still, Macron’s government has not confirmed any of the recommended public post choices.
Concerns have been voiced regarding possible delays this time resulting from Macron’s extended two-month term to name a replacement to Barnier following the June legislative elections’s loss by his party.
Following the no-confidence vote, Macron has been called on to resign.
Leading far-left France Unbowed party member Manuel Bompard said on BFM TV Wednesday night, “I contend that stability necessitates the resignation of the President of the Republic.” Bompard was addressing the matter involving the Republic’s President. Bompard was considering the matter at that moment.
The head of the National Rally, the party with the most Assembly seats, Marine Le Pen said that “the pressure on the President of the Republic will intensify” but did not demand Macron’s resignation. This happens even though she refrained from advocating Macron’s leaving.
On the other hand, Macron has rejected these demands and declared that under his government there would not be any further legislative elections. The French constitution states that should their administration be ousted by the National Assembly or should the National Assembly decide to dissolve the government, a president is not obliged to retire.
“I will execute that mandate; I was elected to serve until 2027,” he said to reporters earlier this week. “I will totally meet that mandate.” “I will fulfil that mandate.”
The constitution says that fresh legislative elections cannot take place before July. For those assigned policy formulation, this might cause an impasse.
Political unrest has heightened worries about France’s economy, especially with relation to the national debt, which, should significant action not be taken, may equal seven percent of GDP.
The collapse of Barnier’s government could cause a rise in French interest rates, therefore aggravating the debt load of the country. This is grounded in analysts’ evaluations.
SOURCE: VA
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Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman’s writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity.
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