To check the statistical significance of these results, we randomize the timing of the arrival of a news item and repeat the same exercises as in Figures1 and 2. We then use the randomized data to calculate the mean and the standard deviation of the market activity measures.

  • Schumer had said Democrats would be pushing ahead on a pared-down economic package, after Manchin had forced his party to narrow its approach.
  • Markets open mixed on Thursday on worse-than-anticipated jobless claims & manufacturing data.
  • Studies have, for example, examined the impact of the release of government statistics such as the unemployment rate on stock prices.
  • Revenue increased by $8.84 billion, or 46.8%, to $27.74 billion, well above the FactSet consensus of $25.49 billion.
  • The stock has tacked on 2.1% over the past three months through Wednesday, while the S&P 500 undefined has lost 6.2%.

However, it is possible that different agencies use different terminologies even when they report about the same event. If this is the case, our topicality measure wrongly signals that this event is not that important.

Rates & Bonds

This means that it is important for researchers to distinguish between anticipated and unanticipated news and focus only on unanticipated news in detecting the immediate response to news. To do this, we need to measure the extent to which a news article is novel to market participants, which is the first issue we will discuss in this paper. On the other hand, even if a particular piece of news is unanticipated, market responses differ depending on the importance of that piece of news to market participants.

stock market news today

The husband of House Speaker Nancy Pelosi sold more than $4 million worth of shares in software and computer-chip company Nvidia this week, publicly available financial disclosures show. The trade by Paul Pelosi was executed on July 26, when he sold 25,000 shares at an average price of $165.05 per share, for a total loss of $341,365. Last week, it was disclosed that Paul Pelosi had exercised call options for as much as $5 million worth of Nvidia Forex news stock ahead of deliberations in Congress about a bill that would boost the U.S. semiconductor industry. Interestingly, investors took the update to their stride, with the S&P 500, the Dow, and the Nasdaq 100 rising 2.62%, 1.37%, and 4.26%, respectively, at the end of the regular trading session Wednesday. This surge comes as a surprise as investors had been deeply concerned about the aggressive hikes pushing the economy into a recession.

Gdp Flashes Recession Warning Sign: Economy Shrank 0 9% Last Quarter As Experts Warn worse To Come

Stock futures gain ahead of more earnings and inflation data from the fed. Meta CEO Mark Zuckerberg warned of an economic downturn after the Facebook parent’s second-quarter revenue and earnings missed targets. The Fed, trying to quell high inflation, is still in rate-hiking mode, but Fed chair Jerome Powell did say that slowing the pace of rate hikes could soon be appropriate. Forex news After extensive negotiations, key Democratic Sen. Joe Manchin of West Virginia on Wednesday said he has reached a deal with Senate Majority Leader Chuck Schumer, the New York Democrat, on an Inflation Reduction Act of 2022. Schumer had said Democrats would be pushing ahead on a pared-down economic package, after Manchin had forced his party to narrow its approach.

Asymmetry in market activity before and after the arrival of news for AAPL, GM, and YHOO. Note that the three market activity indicators considered here are highly correlated with each other . Markets are mixed on Monday, as all eyes are on big tech earnings & fed meeting this week.

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