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Man who set off makeshift bomb outside Alabama attorney general's office sentenced to nine yearsUS stocks rose on Monday as small caps rallied near new highs and the Dow Jones Industrial Average ( ^DJI ) rose more than 400 points amid a broad sense of optimism over President-elect Donald Trump's choice of Scott Bessent for Treasury secretary . The Dow increased 0.9% to close at a new record. The S&P 500 ( ^GSPC ) rose 0.3%, while the tech-heavy Nasdaq Composite ( ^IXIC ) rose 0.3%, despite Nvidia ( NVDA ) sliding over 4%. The Russell 2000 (^ RUT ), up 1.6%, also closed a whisker off a record high. It did notch an intraday high. Stocks kicked off a holiday-shortened week with more of the upbeat mood that lifted the gauges to weekly wins . Markets will shut on Thursday for the Thanksgiving holiday and close early on Friday. Trump tapped Bessent, viewed as the "investor favorite" pick for Treasury, late Friday evening after a surprisingly drawn-out process that saw candidates' stocks seem to rise and fall by the day . Bessent's nomination has seemed to at least temporarily calm nerves over the president-elect's inflationary agenda, with the benchmark 10-year Treasury yield ( ^TNX ) dipping back under 4.3%. On the inflationary front, the Fed will get its preferred look at the picture heading into Trump's term with Wednesday's release of the Personal Consumption Expenditures (PCE) index. Economists expect a tick up in "core" PCE, which is closely watched by the central bank. Meanwhile, bitcoin ( BTC-USD ) was in search of a milestone $100,000-per-coin level amid a near-50% surge over the past month. It was back down below $95,000 on Monday, however. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Stocks rose on Monday with the Dow Jones Industrial Average ( ^DJI ) closing at a fresh record after gaining more than 400 points, or nearly 1%. The S&P 500 ( ^GSPC ) rose 0.3%, while the tech-heavy Nasdaq Composite ( ^IXIC ) also gained 0.3%, weighed by shares of Nvidia ( NVDA ) sliding over 4%. Meanwhile small cap stocks also rallied with the Russell 2000 (^ RUT ) gaining as much as 2% during the session to hit record intraday highs. The index closed just shy of its all-time high record. The markets rose on Monday following President-elect Donald Trump's choice of Scott Bessent for Treasury secretary . Yahoo Finance's Anjalee Kamlani reports: Allurion ( ALUR ) launched a new program to provide patients access to compounded weight-loss drugs Monday after months of pitching its own weight-loss solution — an ingestible balloon — as an alternative for patients who may not want to use the popular injectable GLP-1 drugs. Allurion CEO Shantanu Gaur told Yahoo Finance that, like others, the company continues to see a spillover effect from the unprecedented interest in GLP-1 drugs like Novo Nordisk's ( NVO ) Wegovy and Eli Lilly's ( LLY ) Zepbound. It's why the company is now offering copycat products at a fraction of the cost. Read more here. Yahoo Finance's Pras Subramanian reports: Tesla stock ( TSLA ) is down Monday following a strong recent run-up as one Wall Street bank says “animal spirits” have pushed the stock beyond any “fundamental change” at the company. Joseph Spak at UBS noted that Tesla stock has surged around 40% since the election, adding over $350 million to its market cap. While some of President-elect Donald Trump's policy proposals could favor Tesla, there are some policy negatives as well that would hurt fundamentals more than where the theoretical upside has taken the stock. “The rise in Tesla stock is mostly driven by animal spirits/momentum (which has happened multiple times in TSLA’s history),” Spak wrote. Read more here. Bitcoin ( BTC-USD ) sank on Monday to $95,000 after recently jumping to record highs just a stone's throw away from $100,000. The cryptocurrency has been on a steady climb since the Donald Trump's presidential victory earlier this month. On Friday the token inched above $99,600. Year-to-date bitcoin is up about 120%. Cruise line stocks have had an impressive run this year, and there’s still more room for growth, according to Bank of America. Norwegian Cruise Line Holdings Ltd. ( NCLH ) and Carnival Corporation ( CCL ) have climbed more than 30% while Royal Caribbean Cruises ( RCL ) is up over 80% year-to-date. Bank of America raised Norwegian's price target to $29 from $26 and kept a Neutral rating. For Carnival, the firm raised the price target to $28 from $24 and kept a Buy rating, while for Royal Caribbean, analysts raised the price target to $240 from $210 and kept a Neutral rating. “The travel industry is back,” Bank of America analyst Andrew Didora told Yahoo Finance. “It just seems like the core demographic here for cruise [lines], which is typically a bit higher income, they continue to be in a good spot from a discretionary spending perspective.” Cruise-line operators have seen a resurgence in demand as interest rebounded from the pandemic-era, when the restrictions kept fleets docked. Data from Bank of America shows that monthly cruise spending increased 8% in October on a yearly basis. Nvidia ( NVDA ) shares dropped to session lows, sinking more than 3% on Monday. The AI chip heavyweight was the worst performer among the 'Magnificent 7' stocks. Tesla ( TSLA ) shares fell more than 1% while Alphabet ( GOOG , GOOGL ) and Amazon ( AMZN ) rose more than 1%. Nvidia's slide weighed on the Nasdaq, which briefly turned negative by 12:20 p.m. ET. Netflix ( NFLX ) shares also slid 3%, keeping a lid on the tech-heavy index. The Russell 2000 ( ^RUT ) rose more than 2% on Monday to hit its highest level since November 2021. The small cap index has rallied in recent months as the Fed began its interest rate cutting cycle, fueling expectations of less expensive financing. The Russell 2000 is up more than 20% year-to-date, with much of those gains occurring since early August. Two more Wall Street strategists are projecting the bull market in US stocks will roll on in 2025. On Monday, equity strategy teams at Barclays and RBC Capital Markets both issued a year-end target price of 6,600 for the S&P 500 ( ^GSPC ) in 2025. The targets suggest a roughly 10.5% gain in the benchmark index over the next twelve months, about in line with the long-term historical average annual return over the past century. "The story the data tells us is that another year of solid economic and earnings growth, some political tailwinds, and some additional relief on inflation (which should keep the S&P 500’s P/E elevated) can keep stocks moving higher in the year ahead," RBC Capital Markets head of US equity strategy Lori Calvasina wrote in a note to clients on Monday. Venu Krishna, head of US equity strategy at Barclays, wrote that with "inflation continuing to normalize, resilient macro, and Big Tech maintaining EPS growth leadership," the S&P 500 should continue its march higher. Read more here. MicroStrategy ( MSTR ) said Monday it purchased another 55,000 worth of bitcoin last week for $5.4 billion as the world's largest cryptocurrency was trading at all-time highs. MicroStrategy stock recovered from a loss of more than 7% in early trading. In a filing with the SEC, MicroStrategy said it spent $5.4 billion to acquire these bitcoin between Nov. 18-24, buying the bitcoin at an average price of $97,862. The company said it used proceeds from convertible notes and share sales to fund the purchase. The application software company, which has become a bitcoin proxy, has been buying tokens since 2020. In recent weeks, it has intensified its purchases as bitcoin has rallied to highs above $99,000 following Donald Trump's presidential win earlier this month. As of Sunday, MicroStrategy held a total of approximately 386,700 bitcoins, acquired for an aggregate purchase price of about $21.9 billion and an average purchase price of approximately $56,761 per bitcoin. Oil dropped to session lows on a report that a ceasefire between Israel and Lebanon-based Hezbollah may have been reached. West Texas Intermediate ( CL=F ) sank more than 2% to hover below $70 per barrel, while Brent ( BZ=F ), the international benchmark, traded below $74 per barrel. Axios reported on Monday that Israel and Lebanon have agreed to terms of a ceasefire, citing a senior US official. Earlier, the Israeli ambassador to Washington said in a radio interview on Monday that deal points still need to be finalized but an agreement "can happen within days.” Nvidia ( NVDA ) shares dropped as much as 3% in early trading as the AI chip heavyweight failed to participate in the rest of the market gains. Nvidia shares extended their decline from Friday's session, despite the company beating on quarterly results announced last week. The AI chipmaker has been a leader in the overall markets this year, accounting for roughly 20% of the S&P 500's performance. US stocks rose on Monday as investors await the Fed's preferred measure of inflation this week and after President-elect Donald Trump announced his pick for Treasury secretary, Scott Bessent. The Dow Jones Industrial Average ( ^DJI ) led the advance, up roughly 0.7%. The S&P 500 ( ^GSPC ) rose 0.5%, while those the tech-heavy Nasdaq Composite ( ^IXIC ) moved up almost 0.6%. The Personal Consumption Expenditures (PCE) index will be released this Wednesday, giving investors clues on what the Fed's next move with interest rates may be. The "Magnificent Seven" stocks were mostly higher, with the exception of Nvidia ( NVDA ), down more than 1%, extending its declines Economic data: Dallas Fed manufacturing activity (November) Earnings: Bath & Body Works ( BBWI ), Zoom ( ZM ), Macy's ( M ) (preliminary) Here are some of the biggest stories you may have missed over the weekend and early this morning: Fed-favored PCE inflation seen as stalling: The week ahead Trump's Treasury choice Bessent says tax cuts are a priority Macy's delays Q3 report on accounting issue, stock falls Tesla's $350B surge driven by hype, not fundamentals: UBS YF columnist Rick Newman: The Republican economy takes off Trump trade muddles inflation outlook in Fed's favorite gauge Nvidia CEO says global cooperation in tech will continue under Trump administration Black Friday Can’t Come Soon Enough for RetailersThat was quick. Donald Trump is planting the seeds of his own political demise. The corrupt, incompetent and extremist men and women he’s appointing to many of the most critical posts in his Cabinet are direct threats to the well-being of the country, but they’re also political threats to Trump and to his populist allies.
NoneNokia Corporation Stock Exchange Release 25 November 2024 at 22:30 EET Nokia Corporation: Repurchase of own shares on 25.11.2024 Espoo, Finland - On 25 November 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia's Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million. Total cost of transactions executed on 25 November 2024 was 3,523,779. After the disclosed transactions, Nokia Corporation holds 360,574,603 treasury shares. Details of transactions are included as an appendix to this announcement. On behalf of Nokia Corporation BofA Securities Europe SA About Nokia At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs. With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today - and work with us to create the digital services and applications of the future. Inquiries: Nokia Communications Phone: +358 10 448 4900 Email: [email protected] Maria Vaismaa, Global Head of External Communications Nokia Investor Relations Phone: +358 40 803 4080 Email: [email protected] Attachment Daily Report 2024-11-25
WEST PALM BEACH, Fla. — Canadian Prime Minister Justin Trudeau said Saturday he had an “excellent conversation” with Donald Trump at his Mar-a-Lago club after the president-elect’s threat to impose significant tariffs on two of America’s leading trade partners raised alarms in Ottawa and Mexico City . It was unclear, as Trudeau headed back to Canada from Florida, whether the conversation had alleviated Trump’s concerns. A person familiar with the details of the leaders’ hastily arranged meeting Friday night said it was a “positive wide-ranging dinner that lasted three hours.” The official, who was not authorized to discuss the matter publicly and spoke to the Associated Press on condition of anonymity, said topics included trade, border security, fentanyl, defense, Ukraine , NATO, China, the Mideast and pipelines, as well as the Group of 7 meeting in Canada next year. The Republican president-elect has threatened to impose tariffs on products from Canada and Mexico if the countries don’t stop what he called the flow of drugs and migrants across their borders. He said he would impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders when he takes office in January. As he was leaving his West Palm Beach hotel, Trudeau stopped briefly to answer a reporter’s question about the dinner meeting, saying it was “an excellent conversation.” Trump’s transition team did not respond to questions about what the leaders had discussed. Trump, during his first term as president, once called Trudeau “weak” and “dishonest,” but it was the prime minister who was the first G-7 leader to visit Trump since the Nov. 5 election. “Tariffs are a crucial issue for Canada and a bold move was in order. Perhaps it was a risk, but a risk worth taking,” Daniel Béland, a political science professor at McGill University in Montreal. Among those at the dinner were Howard Lutnick, Trump’s nominee for Commerce secretary; North Dakota Gov. Doug Burgum, tabbed to lead the Interior Department ; and Mike Waltz, Trump’s choice to be his national security advisor. Accompanying Trudeau were Canada’s public safety minister, Dominic LeBlanc, whose responsibilities include border security, and Katie Telford, Trudeau’s chief of staff. Trudeau had said earlier Friday that he would resolve the tariffs issue by talking to Trump. Mexican President Claudia Sheinbaum said a day earlier after speaking with Trump that she is confident a tariff war with the United States will be averted . Trudeau said Trump got elected because he promised to bring down the cost of groceries but now he’s talking about adding 25% to the cost of all kinds of products including potatoes from Prince Edward Island in Atlantic Canada. “It is important to understand that Donald Trump, when he makes statements like that, he plans on carrying them out. There’s no question about it,” Trudeau said before his leaving for Florida. “Our responsibility is to point out that he would not just be harming Canadians, who work so well with the United States, but he would actually be raising prices for Americans citizens as well and hurting American industry and business,” he added. To Nelson Wiseman, professor emeritus at the University of Toronto, Trump “doesn’t need convincing that new tariffs on Canadian products would not be in U.S. interests. He knows that, but cannot say it because it would detract from what he has said publicly. His goal is to project the image that he gets action when he talks.” Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his first term. Trudeau noted they were able to successfully renegotiate the deal, which he calls a “win win” for both countries. Trump made the tariff threat Monday while citing an influx of migrants entering the country illegally, even though the numbers at the Canadian border pale in comparison to those at the U.S.-Mexico border. Trump also spoke about fentanyl from Mexico and Canada, even though seizures from the Canadian border are few in comparison to the Mexican border. Canadian officials say lumping Canada in with Mexico is unfair but say they are ready to make new investments in border security. When Trump imposed higher tariffs during his first term in office, other countries responded with retaliatory tariffs of their own. Canada, for instance, announced billions of new duties in 2018 against the U.S. in a response to new taxes on Canadian steel and aluminum. Canada was examining possible retaliatory tariffs on certain items from the U.S. should Trump follow through on his threats, a senior Canadian official told the Associated Press in the days before Trudeau’s visit. The person spoke on condition of anonymity, as they were not authorized to speak publicly. Canada is the top export destination for 36 U.S. states. Nearly $2.7 billion worth of goods and services cross the border each day. About 60% of U.S. crude oil imports are from Canada, as are 85% of U.S. electricity imports. Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is investing in for national security. Canada is one of the most trade-dependent countries in the world, and 77% of its exports go to the U.S. Associated Press writer Gillies reported from Toronto, Hussein from West Palm Beach, Fla.Swiggy vs ZomatoSwans to make announcement amid speculation on Longmire exit