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Nasdaq Rises Amid Mixed Market Performance; FedEx and Cocoa Futures See Gains

While the Nasdaq Composite edges into positive territory, FedEx's shares jump, and cocoa futures reach new highs.

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People walk around the New York Stock Exchange in New York, Tuesday, March 19, 2024. U.S. stocks are rising Tuesday as Wall Street waits to hear what the Federal Reserve will do with interest rates.

Overview

  • US stocks show mixed performance with Nasdaq entering positive territory, while Dow Jones falls and S&P 500 remains flat.
  • FedEx shares surge following a profit beat and improved operating margins, contrasting with Nike's drop due to disappointing sales guidance.
  • Cocoa futures hit record highs amid a supply shortage, marking a significant rally driven by poor harvests in West Africa.
  • Reddit's shares decline after a strong IPO debut, as the company aims to leverage its user conversations for AI tools.
  • Goldman Sachs predicts a 13% increase in stock buybacks for 2024, fueled by accelerating earnings growth despite political uncertainties.