Here are the most important news investors need to start their trading day:
1. Let's gather
All three major indexes ended Thursday's trading in positive territory after rising late in the day. the Dow Jones Industrial Average The index rose nearly 350 points, or 0.91%. Standard & Poor's 500 It added 0.58%, which was good for another record. the Nasdaq CompositeAt the same time, it rose by 0.30%. Wells Fargo stock rose 7% after one of the bank's main regulators ended a penalty that was tied to the 2016 fake accounts scandal. In economic news, consumer spending fell sharply in January, with advanced retail sales falling 0.8% versus an estimated 0.3% decline. Economists surveyed by Dow Jones. On Friday morning, investors will await more economic data with the release of the January Producer Price Index. Follow live market updates here.
2. Shock shaking
A low-angle view of the sign for the Shake Shack store in Walnut Creek, California, on December 2, 2022.
Jadu | Photo archive | Getty Images
shares Shake Shack It rose 26% on Thursday, hitting a new 52-week high. The burger chain reported strong fourth-quarter earnings earlier today, generating revenue of $286.2 million versus the $280.3 million expected by analysts surveyed by LSEG. The company also said it saw a 20% year-over-year increase in revenue. It plans to continue growing. Shake Shack said it hopes to open 80 locations in 2024, bringing company-owned and franchised restaurants to nearly 600 locations, or more than doubling the footprint it had five years ago.
3. Ford's future stadium
James Farley, President and CEO of Ford Motor Company, speaks during the launch of the all-electric 2022 Ford F-150 Lightning truck at the Rouge Electric Vehicle Center in Dearborn, Michigan, US, on Tuesday, April 26. 2022.
Emily Elconen | Bloomberg | Getty Images
4. Toast
In this illustration, the Toast Inc. logo is visible. On a smartphone and computer screen.
Buffalo Gonchar | SOPA Photos | Rocket Lite | Getty Images
ToastThe restaurant management software company said it will lay off 550 employees, or about 10% of its workforce, adding to the technology layoffs in 2024. The company said the job cuts will result in charges ranging from $45 million to $55 million, mostly In 2024. Q1, $100 million in annual savings. Toast also reported fourth-quarter earnings after the bell on Thursday, which beat Wall Street expectations. The company's revenue rose nearly 35% year over year during the quarter and its net loss narrowed.
5. To the moon
Intuitive Machines' Nova-C “Odysseus” lander deploys from the upper stage of SpaceX's Falcon 9 rocket to launch the IM-1 mission.
NASA TV
Intuitive machines She made her first attempt to reach the moon. The company went public through a SPAC merger last year, and investors reacted favorably after it announced that the early launch on Thursday was a success. Intuitive Machines stock rose 34.5% in Thursday trading compared to Wednesday's close of $4.98 per share. Intuitive said it hopes the IM-1 cargo mission will achieve 16 goals. As of Thursday afternoon, the company said it had completed three of them (launch, separation from the missile, and autonomous operation).
– CNBC's Lisa Kailai Hahn, Laiya Neelakandan, Michael Wayland, Jordan Novitt and Michael Sheetz contributed to this report.
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