18 minutes ago
European markets opened with a decline
European markets opened lower on Tuesday, as investors await the start of the US Federal Reserve’s two-day monetary policy meeting.
The pan-European Stoxx 600 index opened down 0.2%, with sectors temporarily straddling positive and negative territory. Health care stocks were the biggest losers, falling 0.7%, while travel and leisure stocks rose 0.2%.
-Hannah Ward-Glenton
8 hours ago
Square CEO will leave the company
Square’s CEO is set to leave the company, according to a regulatory filing released Monday.
Alyssa Henry is to leave fintech company Block’s unit on October 2 after more than nine years at the company.
The bloc’s shares fell about 2% in extended trading.
-Samantha Subin
8 hours ago
Cathie Wood stands by her wildly bullish call on Tesla
Ark Invest’s Cathie Wood reiterated her massively bullish call on EV darling Tesla, noting that it reached $2,000 in five years, largely due to the robotaxi boom.
“About a third of our valuation is tied to electric vehicles,” Wood said on CNBC’s “Fast Money” on Monday. “Two-thirds of our assessment is around autonomy [driving] And autonomous taxi platforms.”
Wood’s bear case on Tesla targets $1,400 by 2027 and his bull case targets $2,500. Tesla is the largest holding in its flagship Ark Innovation ETF (ARKK) fund with an 11.5% weighting. Tesla shares have more than doubled this year after falling 65% in 2022.
– Yun Lee
9 hours ago
Instacart sets IPO price at $30 per share
Instacart priced its IPO at $30 a share on Monday evening, valuing the grocery delivery company at about $10 billion.
The company is set to debut on the Nasdaq on Tuesday under the ticker symbol “CART.”
That puts the offering at the top of the expected $28 to $30 per share range.
– Ari Levy, Samantha Subin
9 hours ago
Stock futures opened with little change
Stock futures opened little changed on Monday evening as Wall Street awaited the start of the Federal Reserve’s policy meeting.
Futures tied to the Dow Jones Industrial Average rose 13 points, or 0.03%, while S&P 500 futures and Nasdaq 100 futures rose 0.02% and 0.06%, respectively.
-Samantha Subin
Source: www.cnbc.com
