Today in the U.S. stock market, there were some significant movements among key companies. Apple (AAPL) saw a 5.9% rise following the announcement of its new AI strategy, which includes integrating ‘Apple Intelligence’ technology and ChatGPT across its apps. General Motors (GM) also experienced a 2.25% increase after authorizing a $6 billion stock repurchase plan. On the other hand, Tesla (TSLA) shares dropped by 3% due to concerns over the timeline for its robotaxis. Eli Lilly (LLY) witnessed a 0.7% decline despite positive news about its Alzheimer’s drug.
Meanwhile, Coinbase (COIN) shares fell by 4.6% as the cryptocurrency exchange was impacted by a 4.5% decrease in bitcoin’s price. Other digital currency-related companies like Marathon Digital Holdings (MARA), Riot Platforms (RIOT), and Microstrategy (MSTR) also saw declines. Yext (YEXT) shares dropped by 5% after announcing its acquisition of Hearsay Systems for $125 million and revising its full-year outlook.
These movements occurred amidst a cautious market atmosphere ahead of the release of inflation data and the Federal Reserve meeting. Investors are closely monitoring these developments to gauge the market’s direction in the coming days.
