- Stock indices open slightly higher.
- Market sentiment is supported by Nvidia's CEO comments on new products.
- The dollar weakens slightly.
- Bond yields gain moderately.
The session begins with moderate market sentiment. US indices are trading mixed, with bulls attempting to resume gains. At the time of writing, the US500 and US2000 indices are showing slight gains, while the technology-heavy index is experiencing a correction of around 0.25%. Investors' attention today is focused on the first labor market report on new job openings. Tomorrow will bring the more critical ADP data, and on Friday, the NFP report.
US100
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Create account Try a demo Download mobile app Download mobile appThe technology index opened the cash session with a slight loss, potentially due to profit-taking after recent dynamic gains. Despite significant pre-market gains, Nvidia has erased them and is now trading at yesterday's closing price. The key support level for bulls remains the zone above 21,200 points, while on the upside, the 22,000-point barrier continues to act as resistance.
Stock News
Inari Medical (NARI.US) surged 27% after Stryker (SYK.US) announced plans to acquire the company for $4.9 billion, offering a 60% premium at $80 per share in cash. The deal includes a tender offer for outstanding shares, followed by a second-step merger, and is expected to close by the end of Q1 2025, pending regulatory approvals.
Getty Images and Shutterstock (SSTK.US) gain 35% and 17.7%, respectively, following a merger agreement to form Getty Images Holdings with a $3.7 billion enterprise value. Getty stockholders will own 54.7% of the combined company, and Shutterstock stockholders will own 45.3%. The deal offers cash, stock, or mixed options for SSTK shareholders and aims for $150M-$200M in synergies within three years. The combined company expects nearly $2 billion in 2024 revenue.
FuboTV (FUBO.US) gained 19% extending recent surge, as Disney announced merging its Hulu + Live TV with Fubo to serve 6.2 million North American customers. Disney will hold a 70% stake, and Fubo’s CEO will lead the venture. The deal resolves litigation with major broadcasters and includes a $145M term loan and a new sports broadcast service. The combined entity aims for profitability post-closing.
Aurora (AUR.US) jumped 45% after announcing a strategic partnership with Continental and Nvidia to scale driverless truck deployment. The collaboration integrates Nvidia’s DRIVE Thor chip into Aurora’s Level 4 autonomous system. Launches are set for April 2025 in Texas, with mass production planned for 2027, marking a key milestone in self-driving technology.
