Market Momentum: A Turning Point Ahead?
As the final full trading week of the year kicks off, stocks are showing a slight uptick, driven by a strengthening dollar and a pullback in oil and gold prices. The big question on everyone’s mind is: Was Friday’s double dose of good news a market turning point?
Tech Giants Make Moves
Apple is reportedly exploring smart doorbell and lock devices to bolster its home security offerings and compete with rivals. Meanwhile, Wedbush analysts predict that Apple’s AI-driven upgrade cycle will drive demand for new devices, potentially leading to the highest iPhone unit sales year in Apple’s history.
Healthcare Breakthroughs
Bristol-Myers Squibb announced that the European Commission has approved Opdivo plus Yervoy, two drugs that can be used in combination to treat certain types of cancer.
Labor Unrest
Thousands of workers at a Staten Island warehouse walked off the job, joining tens of thousands of employees in other states on strike to protest unfair labor practices. Meanwhile, Starbucks workers expanded their strike to New York, New Jersey, Philadelphia, and St. Louis.
Social Media Showdown
President-elect Donald Trump indicated that he might be open to solutions to allow TikTok to continue operating in the U.S. The Supreme Court is set to hear oral arguments on January 10 as the social media company tries to halt a federal ban.
Mergers and Acquisitions
Honda and Nissan officially began merger talks, signing a memorandum of understanding to consider a business integration. Xerox will acquire Lexmark, a Chinese-owned printer and printing software maker, in a $1.5 billion deal expected to close in the second half of 2025.
Court Rulings and Price Target Bumps
A U.S. federal court jury sided with Qualcomm in its chips trial against Arm Holdings, finding that Qualcomm did not breach its licensing agreements with Arm. Two Club stocks received price target bumps, with Citi raising BlackRock to $1,200 and Loop Capital raising Microsoft’s PT to $550.
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