Business The stock market continued to see record highs on Friday, with the Dow Jones Industrial Average rising more than 500 points due to tech stocks continuing to climb. Investors were looking for companies that could weather the current economic climate being affected by the coronavirus pandemic. The Nasdaq Composite saw a new high in intraday trading Friday as tech stocks led the market. Grace Montgomery 28/08/2023
Business August 28th marks a holiday in the U.S. called ‘Three King’s Day’. Markets will be closed on this day. Stock traders will need to plan their trading in advance as certain market movements may happen prior to the holiday. Financial advisors suggest that investors focus more on portfolio diversification and not fear any temporary market movements. Grace Montgomery 28/08/2023
Business Danaher Corp., an American healthcare and life sciences company, has agreed to acquire Abcam, a UK-based provider of biological reagents and research tools. The deal is for $ 24 a share in cash, valuing Abcam at $1.9 billion. This acquisition will help strengthen Danaher’s position in the global life sciences market. Grace Montgomery 28/08/2023
Business Hawaiian Electric’s stock soared following a press release detailing the cause of the Lahaina fires in early October. It was discovered that the fires were caused by a malfunctioning underground transformer, and that the company bore no fault. Over 12,000 customers experienced power outages due to the incident, but Hawaiian Electric committed to fully restoring power to all customers. Grace Montgomery 28/08/2023
Business Stocks rose slightly with the expectation of upcoming jobs data, following a hawkish speech from Jerome Powell. This optimistic outlook is bolstered by signs of economic recovery from the pandemic. The Nasdaq Composite set a new record, topping the 12,000 mark for the first time in history. Grace Montgomery 28/08/2023
Business Mortgage interest rates have recently increased, making today’s rates the highest they have been in the last six weeks. This means that people looking to buy a house may need to pay more on their loan over the life of their mortgage. Homeowners may want to consider refinancing to lower their monthly payments. Grace Montgomery 28/08/2023
Business Xpeng Motors, Vinfast, and Roku were some of the biggest stock movers today. Xpeng gained over 5% and finished up over 60% in the last month. Meanwhile, Vinfast surged nearly 17% and Roku rose nearly 3%. Grace Montgomery 28/08/2023
Business Danaher Corporation has agreed to purchase Abcam, a global life science business, for $2.2 billion. Abcam provides research tools to scientists and will benefit from Danaher’s global scale and commercial capabilities. The transaction is expected to close in the fourth quarter of 2020. Grace Montgomery 28/08/2023
Business China announced a reduction in the stamp duty on share trading, lowering it from 0.3% to 0.1%. This move is meant to encourage individual investors in the Chinese stock market, to support its slowing economy. The policy will be effective from September 1 and could potentially lead to increased demand for stocks. Grace Montgomery 28/08/2023
Business On August 28th, air travel across the United Kingdom was disrupted as a result of a technical issue experienced by the local air traffic control provider. Problems were detected within the system, leading to significant delays and flight cancellations at multiple airports. Passengers have been advised to check with their airline for more information. Grace Montgomery 28/08/2023
Grace Montgomery