after the chipmaker's stock closed 25% higher on its IPO date. Today will be the first full day Arm's listing will be in circulation. Lastly, crude oil prices are rising in stride with tighter production forecasts and China's own economic data print.Video TranscriptHere are three things that you need to know this morning. The United Auto Workers making history as the union goes on strike simultaneously against the big three automakers.
Arm's rally continues after its blockbuster IPO, the SoftBank-backed business was valued at around $60 billion at its NASDAQ open. The chip designer's public listing is the most high-profile IPO the NASDAQ has seen since 2021 boom, which cycled into something of a bust the following year. SoftBank still controls about 90% of the British company.
And the move higher in oil prices continues. A crude trading around 10 month highs boosted this morning by stronger data out of the world's second biggest economy. China's retail sales surprising to the upside, growing 4.6% in August from a year earlier. Industrial production also increasing by 4.5% on an annual basis. The push higher in oil has largely been supported by expectations of tighter supply.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Arm IPO, UAW strike, Senate's AI forum 3 ThingsAuto workers’ contracts with the Big Three automakers — Ford (F), General Motors (GM), Stellantis (STLA) — are set to expire at midnight. The United Auto Workers (UAW) union has threatened executives with the likelihood of a strike if certain benefits and wage demands were not met. Tech’s top names attended a forum on AI organized by Senate Majority Leader Chuck Schumer (D-NY) on Wednesday to discuss the need for proper regulation of artificial intelligence. Lastly, chipmaker Arm Holdings (ARM) is set to go public today on the Nasdaq, priced at $51 per share. Analysts are paying extra close attention to Arm’s IPO and its valuation for its significance to the IPO market and the tech industry’s pivot to generative AI. Yahoo Finance Live hosts Julie Hyman and Brad Smith provide a deeper analysis of this week’s top headlines.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
UAW strike, Arm stock, iPhone 15 preorders: What to watchAuto workers are counting the minutes to tonight's midnight deadline with Big Three automakers Ford (F), General Motors (GM), and Stellantis (STLA). The United Auto Workers union (UAW) is preparing to strike if its employers do not agree to their contract demands. Arm Holdings (ARM) excelled in its IPO debut today as investors eye how the stock will perform in its first full day of trading on Friday. Lastly, Apple (AAPL) will be accepting preorders for its newly unveiled iPhone 15 tomorrow. Yahoo Finance Live's Seana Smith highlights the top stories investors anticipate for Friday, September 15.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Inflation rises, Apple's new devices, UAW strike looms: 3 ThingsThe Consumer Price Index rose in August, with the month-over-month core data coming in hotter than expected. It raises the question about what the Federal Reserve will do about interest rates given its focus on bringing inflation down. Apple (APPL) unveiled the iPhone 15 and Apple Watch series 9, but investors weren't exactly enthused with the new offerings, as China finally says it has not issued any ban on iPhones. The UAW negotiations with the Big Three automakers (F, GM, STLA) are ongoing as a strike deadline looms. Yahoo Finance Live brings you the three stories you need to be watching today.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »