Digital World Acquisition sees 30% increase as Wall Street experiences minor drops

Wall Street experienced slight declines at 20:15, with the Nasdaq trading around fundamental levels and the Dow Jones down 0.4%. The S&P 500 also saw a decline of 0.2%. Notable stock movements included Digital World Acquisition jumping by about 30% due to an upcoming merger with Donald Trump’s social network, and Super Micro Computer’s stock increasing by 10% after JP Morgan upgraded their recommendation on the stock. Oil prices also saw a 1% increase, with a Brent barrel priced at $86.

In Europe at 19:10, the DAX rose 0.3%, the KAC traded around base levels, and the British FTSE fell by about 0.2%. A notable development was electric car manufacturer Lucid Group’s stock surge after a Saudi government fund invested NIS 1 billion in the company as part of Saudi Arabia’s efforts to diversify its economic dependence on oil.

Camtech announced a new order worth approximately $25 million from a tier-1 manufacturer of HBM components for testing and measuring broadband memory components, reflecting high-performance computing applications like HBM are expected to see significant growth in the coming years. Two investment houses published optimistic forecasts for the S&P 500 index, with Oppenheimer raising its forecast to 5,500 and Goldman Sachs increasing its forecast to 6,000 driven by large technology stocks.

However, Boeing’s CEO announced his resignation amidst ongoing issues with the company’s planes. In a global context, China implemented new guidelines to block American processors from Intel, AMD, Microsoft and others as part of efforts to promote Chinese alternatives in the technology sector. Investigations were launched into Google, Apple and Meta Platforms under Digital Markets Act legislation in EU to ensure fair digital market.

Apple collaborated with Chinese internet giant Baidu for AI services in its software in China as part of strategic move to increase iPhone sales regionally while Tesla faced challenges in electric vehicle market and chip companies like Intel and AMD experienced regulatory pressures in China due to same reasons mentioned above

By Aiden Johnson

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