Heading for an eighth week of gains for the S&P 500?

(AOF) – US stock markets started the week on a positive note knowing that the S&P 500 Index posted a gain over the previous 7, which is unheard of since 2017. But several Fed officials tried — unsuccessfully — to quell market expectations of a rate cut. Technology stocks, with the exception of Apple, led the rise. The tension in the Red Sea had no effect. The Dow Jones ended flat at 37,306.02 points and the Nasdaq Composite rose 0.61% to 14,904.81 points.

Japan’s largest steelmaker Nippon Steel Corporation will buy its American competitor United States Steel for $55 per share in cash, for a total consideration of approximately $14.1 billion. In the stock market, shares of the US steel group jumped 26.09% to $49.59. The proposed purchase price represented a 40% premium to US Steel’s closing share price on December 15, 2023. In Europe, ArcelorMittal gained nearly 5% to €26,175 after the announcement.

Today’s economic data

The NAHB (National Association of Home Builders) U.S. housing market index was 37 in December, when it was expected to be 36, after 34 in November.

Values ​​to live by today

Adobe

Adobe and Figma announced today that they have reached a mutual agreement to terminate the merger agreement announced on September 15, 2022. Adobe then revealed the acquisition of Figma, a specialist in collaborative design and production tools. design, for $20 billion, half in cash and half in stock. The operation ran into opposition from competition authorities in several countries, including the United States and the United Kingdom.

Apple

Multiple Chinese agencies and state-backed companies across the country have asked their employees not to bring Apple iPhones and other foreign devices to work, Bloomberg reported on Friday, citing people familiar with the matter. Over the past month or two, many state-owned enterprises and administrations in at least eight provinces have asked their employees to start using local brands, the news agency said.

BIONTech

BioNTech announces the opening of a messenger RNA (mRNA) vaccine manufacturing facility in Kigali, Rwanda. The inauguration takes place on the occasion of the establishment of the first production unit called BioNTainer. The group thus wants to “contribute to building a sustainable and resilient African vaccination ecosystem and promote equitable access to new medicines on a global scale”. The site could become the continent’s first commercial mRNA production plant.

IBM

IBM today announced a definitive agreement with Software AG to purchase StreamSets and webMethods, a Super iPaaS (Integration Platform as a Service) from Software AG, for $2.13 billion in cash. “As organizations continue to accelerate their digital transformations, application and data integration solutions are critical elements for application modernization and the effective deployment of artificial intelligence in the enterprise,” explains the US computing giant.

Illumina

Illumina is expected to surge in presales on Wall Street after it announced its decision to sell Grail in compliance with a European Commission sales order following a U.S. appeals court ruling that largely backed down. case before the Federal Trade Commission, the United States competition watchdog. The American group decided not to appeal after a legal battle that lasted more than three years.

Novavax

Novavax is expected to grow after announcing today that Taiwan’s Food and Drug Administration has granted emergency use approval for the latest version of its messenger RNA-free Covid-19 vaccine. The updated Novavax vaccine is also registered in the United States, the European Union, Canada and the World Health Organization, and is under review in other markets. Doses of the updated Novavax vaccine will be delivered to Taiwan under an existing pre-sale agreement.

Nope

Nio is expected to surge after it announced this Monday that it had signed an agreement with CYVN Holdings, an investment company based in Abu Dhabi (United Arab Emirates), to invest $2.2 billion in its capital for 294 million new shares. The fund already invested $738.5 million in the Chinese electric vehicle manufacturer in July 2023: it will eventually hold 20.1% of the capital. “We are deeply inspired by CYVN’s vision to accelerate the world’s transition to a more sustainable future,” says Nio.

US Steel

Japan’s largest steelmaker Nippon Steel Corporation will buy rival United States Steel for $55 a share in cash, valuing its equity at about $14.1 billion. The proposed purchase price represented a 40% premium over US Steel’s closing stock price on December 15, 2023. The transaction was unanimously approved by the boards of directors of the 2 companies. The transaction is expected to be completed during the second or third quarter of 2024.

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