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Nvidia is set to join the Dow Jones Industrial Average, marking a significant milestone for the chipmaker following its recent stock split. As the 21st most-expensive stock in the index, Nvidia is expected to have a notable influence, with an estimated daily movement of around $4.40, ranking it as the eighth-largest contributor based on share price and volatility. This addition underscores the evolving dynamics of price-weighted indexes in the context of modern trading practices.
American Express has agreed to acquire UBS's 50% stake in Swisscard AECS, becoming the sole owner of the Swiss credit card provider. The transaction, subject to closing conditions, will not impact current cardholders or merchants, as Swisscard continues to issue cards under major brands and manage the American Express network in Switzerland. UBS will transition Credit Suisse branded card portfolios to its own brand starting in the first half of 2025, ensuring a seamless experience for affected cardholders.
Ubs is selling its 50 percent stake in Swisscard, held by Credit Suisse, to American Express, which will then become the sole owner. Credit Suisse customers will transition to Ubs' credit card platform, while Swisscard will continue to issue cards under American Express, Mastercard, and Visa licenses, ensuring no immediate impact on cardholders or partners.
Ubs has sold its 50 percent stake in Swisscard to American Express, making the latter the sole owner of the credit card company. This divestment aligns with Ubs' strategic priorities, as it transitions Credit Suisse customers to its own credit card platform, with new cards expected to be issued in 2025.
The DAX is nearing record highs as the ECB meeting and US earnings season approach. Key events include the ZEW index release, with expectations of an increase, and potential ECB rate cuts. US retail sales and unemployment claims will also be closely monitored, alongside significant data from China and major US bank earnings reports.
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nvidia joins dow jones industrial average impacting market dynamics and volatility
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