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- Stock futures are rising Thursday morning as the market looks poised to regain ground.
- Cisco announced more than 4,000 layoffs, a 5% hit to its global workforce.
- The proportion of homes owned by black Americans remains disproportionately small relative to population size.
Here are the most important news items investors need to start their trading day:
Stock futures are rising Thursday morning as the market looks poised to regain the ground it lost earlier this week. On Wednesday, the S&P 500 rose 0.96% to regain its base of 5,000, the Nasdaq Composite rose 1.3% and the Dow Jones Industrial Average rose 0.4%. “Going forward, the market will trade more on economic growth and earnings expectations than on interest rates and inflation,” said Dylan Kremer, chief investment officer at Sirtuity. In global markets, the UK and Japan both entered technological recessions in the fourth quarter. Japan has surrendered its position as the third largest economy. Follow us for live market updates.
CISCO brand logo during Mobile World Congress Barcelona 2023.
Ramon Costa | Sopa Images | Light Rocket | Getty Images
Cisco announced more than 4,000 layoffs, a 5% hit to its global workforce. The technology company is the latest in a series of companies to announce layoffs aimed at restructuring and cutting costs. Since the new year, 144 tech companies have laid off about 35,000 employees, according to the website Layoffs.fyi. Cisco reported strong second-quarter results Wednesday afternoon, despite a bleak outlook.
According to the Centers for Disease Control and Prevention, the United States has seen an increase in drug overdose deaths during the COVID-19 pandemic, including deaths from counterfeit pills containing opioids and fentanyl, the first of a public health emergency. has accelerated significantly over the past few months.
Patrick T. Fallon | AFP | Getty Images
The Federal Trade Commission is investigating the impact drug wholesalers and companies that buy drugs for health care providers are having on drug shortages. The announcement comes in the wake of unprecedented strain on the availability of medicines, from generics to cancer drugs. The FTC and the Department of Health and Human Services are seeking public comment on pharmaceutical intermediaries and their practices to determine whether they are lowering drug prices to prevent suppliers from competing in the market.
See homes available for sale in Austin, TX on October 16, 2023.
Brandon Bell | Getty Images
A new study from LendingTree shows that Black Americans continue to own a disproportionately small number of homes relative to their population size. From 2021 to 2022, the number of Black-owned homes remained roughly the same, averaging 10.15% of homes in the nation’s largest metropolitan areas. The biggest obstacles to homeownership are income inequality and taxation.
Data analyst using technology AI as a work tool for data analysis Chatbot Chat with AI.
Kanchit Kirisachalar | iStock | Getty Images
Artificial intelligence is increasingly permeating almost every industry, including the office and the dating world. Nearly one in three U.S. men aged 18 to 34 use ChatGPT for dating advice, according to a survey conducted last month on AI platform Pollfish. . And now chatbots are taking a more active role in relationships, with tools like YourMove.AI that offer everything from drafting messages to rating dating profiles. At the same time, generative AI is getting smarter in darker ways. Research shows that AI financial fraudsters are getting better at other fraud techniques, including phishing emails and fake phone calls. Cybersecurity experts say it will take time for companies to adapt, but that time means financial fraudsters are getting better.
– CNBC’s Jesse Pound, Lisa Kailai Han, Hakyung Kim, Lim Hui Jie, Clement Tan, Elliott Smith, Jordan Novet, Ari Levy, Ana Teresa Solá, Annika Kim Constantino, Hayden Field and Ellen Sheng contributed to this report.
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