Nasdaq soars, Dow dips | Tesla hit by Musk pay ruling | Bank of America sees growth ahead

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Good morning! ☀️ It’s Wednesday, December 4, and here’s what’s making waves today: the Nasdaq hits a record high while the Dow takes a small dip, Tesla faces a rough day after a big court ruling, and Bank of America shares an optimistic outlook for 2025. Plus, there’s plenty more to dive into. Let’s get started! 🚀

• 📈 Nasdaq Hits a Record High, but Dow Slips

• 📡 AT&T Brings the Heat with Big Buyback

• 🚗 Tesla Stumbles After Court Ruling

• 👼Johnson & Johnson Seeks FDA Approval for TREMFYA® in Kids

• 🥖 SSP Group Bounces Back Big Time

• 💡 Bank of America’s 2025 Vision

📈 Nasdaq Hits a Record High, but Dow Slips

On Tuesday, December 3, 2024, U.S. stock markets had a mixed day. The Nasdaq Composite hit a new record high, closing at 19,480.91 (+0.4%). Meanwhile, the Dow Jones Industrial Average slipped by 0.2%, ending at 44,705.53. The S&P 500 barely moved, ticking up less than 0.1% to close at 6,049.88, notching its 55th record close this year. 🎯📈

Tech stocks were the stars of the day! 🌟 Big names like Apple (+1.2%) and Nvidia (+0.1%) fueled the Nasdaq’s climb, keeping the momentum strong for the sector. 🖥️📱

However, investors are treading carefully as they wait for Friday’s November jobs report, which could shake up the Federal Reserve’s stance on interest rates. Plus, keep an eye on Fed Chair Jerome Powell and other officials who are set to speak this week—more clues about the economy might be on the way. 🧐📊

In short: The Nasdaq is flying high thanks to tech powerhouses, but the Dow’s slight dip reflects a cautious vibe as the market anticipates some big economic updates. 🚀🤔

📡 AT&T Brings the Heat with Big Buyback

Big news from AT&T! 📣 The company is making a bold move to reward shareholders, planning to return $40 billion over the next three years through dividends and stock buybacks—$20 billion for each. 💰

This marks AT&T’s first buyback since early 2020, with an initial $10 billion kicking off as soon as its debt levels hit the target by 2026, and another $10 billion planned for 2027 (pending approval). 📈

On top of that, AT&T has big goals: steady growth in revenue and earnings, plus a massive fiber broadband expansion to reach 50 million locations by 2029. 🌐

Investors are already cheering—AT&T’s stock jumped nearly 4% after the announcement. 🚀

🚗 Tesla Stumbles After Court Ruling

Tesla’s stock took a hit after a Delaware judge struck down Elon Musk’s massive $56 billion pay package. Chancellor Kathaleen McCormick called the 2018 deal “excessive” and said Musk had too much sway over Tesla’s board when it was approved.

Musk didn’t hold back, calling the ruling "absolute corruption" on his platform, X. He argued that decisions like this undermine the power of shareholders. 🚨

Tesla isn’t taking this lying down—they’re planning to appeal to the Delaware Supreme Court, but that could take over a year. 🕒 Meanwhile, analysts believe Tesla might need to craft a new compensation plan for Musk, which could be tricky (and expensive) given how much Tesla’s stock has skyrocketed since 2018. 📈💸

At last check, Tesla’s stock is sitting at $351.42, down 1.59% from the previous day. 📉

This adds another layer to the ongoing drama around Tesla’s corporate governance and how it handles executive pay.

Johnson & Johnson Seeks FDA Approval for TREMFYA® in Kids 🎉

Big news for families dealing with chronic inflammatory conditions! Johnson & Johnson is asking the FDA to approve TREMFYA® (guselkumab) for kids. They’re aiming to make it available for children 6+ with moderate-to-severe plaque psoriasis and kids 5+ with juvenile psoriatic arthritis.

The applications are backed by promising data from the PROTOSTAR study in children, along with insights from earlier adult studies. TREMFYA®, which works by targeting inflammation at its source (interleukin-23), is already helping adults with similar conditions.

If approved, this could bring real hope and relief to kids and their families struggling with these tough diseases. 💪✨

🥖 SSP Group Bounces Back Big Time

SSP Group, the operator behind Upper Crust and Caffè Ritazza, has bounced back stronger than ever, surpassing pre-pandemic profits! 🚀 For the fiscal year ending September 2024, they reported an adjusted operating profit of £343M, topping 2019’s £326M.

Regional Highlights:

UK & Ireland: Sales up 11% (£893M), profits jumped 26% (£73M). 🇬🇧☕

North America: Sales rose 6% (£814M), profits surged 47% (£81M). 🇺🇸🍔

Asia Pacific: Sales up 17% (£519M), profits grew 20% (£76M). 🌏🍣

Continental Europe faced hurdles like railway strikes and weak motorway sales, with profits dropping 49% (£18M). 🚦 SSP is rolling out a recovery plan to boost margins to 3% by 2025 and 5% long-term.

Overall, revenue soared 14% to £3.43B, with pre-tax profits up 35% to £119M. Despite the rebound, shares are still 73% below pre-COVID peaks. 📉 Will SSP regain its market shine? Stay tuned! ✨

💡 Bank of America’s 2025 Vision

Economic Outlook

Bank of America sees steady U.S. growth ahead, projecting a 2.3% GDP increase in 2025. Inflation might stay a bit high at 2.8%, but they expect three interest rate cuts by mid-2025, bringing rates down to 3.75–4%. Strong business investments and tech growth are driving productivity, but challenges like tariffs and immigration policies could still shake things up.

Big Plans for Growth

BofA is expanding its reach across the U.S., with 40 new branches set to open in 2025, including its first-ever location in Boise, Idaho. By the end of 2026, they plan to add 165 financial centers in 63 markets.

On the international front, they’re doubling down on Mexico, aiming to grow their client base from 400 to 800 as companies move operations closer to the U.S.

Committed to Sustainability & People

BofA is serious about sustainability, pledging $1.5 trillion toward global development goals by 2030. They’re also focusing on their employees—raising the minimum wage to $25 an hour by 2025 and introducing sabbaticals for long-term staff.

Through these moves, BofA is all about building a future that works for their clients, employees, and the planet.

That’s a wrap for today! 🎉

We’ll be back tomorrow with more updates, insights, and tips to keep you informed and ahead of the game. Got any thoughts or suggestions? Just hit reply—we’d love to hear from you! 💬

Until then,
Take care,

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