VENTURE CAPITAL POST

Wall Street rebounded strongly on Friday, led by a 1.63% surge in the Dow Jones, after moderate inflation data boosted hopes for an early Federal Reserve interest rate cut.

GoBankingRates provided several immediate impacts that would affect Wall Street and other financial institutions following US President Joe Biden’s decision to stand down from the race to the White House.

US President Joe Biden announced that he was standing down from the country’s presidential election this November, endorsing Vice President Kamala Harris on his stead.

Netflix is expected to report its second-quarter earnings on July 18, with everyone on Wall Street paying close attention to any of the details or information the streaming service would provide about its advertising-supported business model.

Bank of America recently announced that its second-quarter revenue and profit from investment banking and asset management fees exceeded Wall Street expectations.

Morgan Stanley reported that profits performed better than expected across the board in the second quarter of 2024 despite investors shifting to higher-yielding assets.

Defunct hedge fund firm Archegos Capital Management founder Bill Hwang has been found guilty of securities and market manipulation fraud which prosecutors claimed cost global investment banks billions.

Analyst Pierre Ferragu downgraded Nvidia's rating to neutral, citing concerns over future growth and valuation. Nvidia stock has struggled to return to its glory in the past few days.

Alirio and Jose Luis Zambrano, two of the six Citgo executives who were trapped and imprisoned in Venezuela, have accused their former company of abandoning them in a lawsuit filed in Houston.

The White House is leading a campaign stressing the importance of maintaining Federal Reserve independence, notably in light of Trump's proposals that could compromise it.

Nvidia reported a stronger-than-expected first quarter revenue forecast, including an announcement of a stock split after its shares reached the $1,000 mark.

GameStop plummeted 26% on the stock market on May 17 after a week-long attempt to sell up to 45 million shares.

Wall Street hits record highs as US inflation slows to 3.4%, sparking optimism among investors, although concerns linger about potential consumer spending gaps amid weaker-than-expected retail sales growth.

Canadian oil and energy company Enerplus reported an 18.6% revenue loss for its Q1 2024 report compared to figures at the same period last year.

Electronic Arts (EA) revealed that their full-year bookings were forecasted to be between $7.3 billion and $7.7 billion, which is below Wall Street estimates of $7.76 billion.