{ }
Symbol AVGO
Name Broadcom Inc.
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City San Jose
Zipcode 95131-2313
Website http://www.broadcom.com
The Nasdaq Composite reached a record high, boosted by a surge in mega-cap tech stocks like Tesla, Alphabet, and Broadcom, while the Dow Jones fell for the eighth consecutive day. Investors are anticipating a 25 basis point interest rate cut from the Federal Reserve this week, with key economic data, including November Core PCE, set to influence future policy. Other economic releases this week include retail sales, housing starts, and revised GDP figures.
The Nasdaq Composite reached a record high, climbing 1.2% as major tech stocks like Tesla, Google, Amazon, and Apple hit fresh peaks. Meanwhile, the S&P 500 rose nearly 0.4%, while the Dow Jones fell 0.2%. Investors are focused on the Federal Reserve's upcoming interest rate decision amid rising inflation concerns.
Super Micro Computer's stock fell nearly 5% amid concerns of potential delisting from the Nasdaq, following a series of financial reporting issues and the resignation of its accounting firm, Ernst & Young. The company is seeking to raise capital through equity and debt to stabilize its finances. Despite recent declines, the stock is still up about 23% this year.
The Nasdaq reached a record high of 20,173.74, climbing 1.1% as tech stocks thrived ahead of the Federal Reserve's policy meeting. Broadcom surged over 10% following strong earnings, while Tesla hit a new record, boosting its market cap to approximately $1.45 trillion. In contrast, Ford fell 4% after a downgrade, and Honeywell rose over 3% amid plans to spin off its aerospace division. The Fed is expected to cut rates by 100 bps in 2024, with a focus on future easing amid persistent inflation and a resilient labor market.
U.S. stock futures are up as investors anticipate the Federal Reserve's interest rate decision this week. Bitcoin has pulled back after reaching over $160,000, while Palantir, MicroStrategy, and Axon Enterprise will join the Nasdaq 100. Broadcom's stock rises following its $1 trillion market cap, whereas Super Micro Computer's shares plummet amid its removal from the Nasdaq 100 and efforts to raise capital.
Palo Alto Networks, a leader in AI-driven cybersecurity, recently announced a 2-for-1 forward stock split, effective December 16, following a 2,150% increase in share value since its IPO in 2012. The company has shifted focus to software-as-a-service subscriptions, enhancing cash flow and customer loyalty, positioning it for future growth and potential further splits.
Bitcoin surged to a record high of $106,533, gaining 3.6% to trade at $104,970 early Monday after a period of consolidation. Earlier this month, it briefly surpassed the $100,000 mark before a retracement, a level that has historically been a profit-taking target for traders.
Wall Street saw mixed results as Bitcoin surged past $107,000, fueled by optimism over potential pro-digital currency policies from President-elect Trump. The Federal Reserve is expected to announce a third consecutive interest rate cut, aiming to support a slowing job market while managing inflation, which remains a concern. Broadcom's stock rose 6.8% after a strong earnings report, while Nvidia fell 2.5%, reflecting its significant impact on the S&P 500.
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Asian shares fell on Monday following disappointing economic data from China, with retail sales slowing and factory output growth flat. Meanwhile, bitcoin surged to new highs, surpassing $106,000, driven by optimism over a lighter regulatory approach under U.S. President-elect Donald Trump. In the stock market, Japan's Nikkei 225 dipped 0.1%, while Hong Kong's Hang Seng lost 0.8%. The S&P 500 ended nearly flat, marking its first weekly loss after three consecutive gains, despite a significant rise in Broadcom's shares following strong earnings.

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