What’s News in Markets: Nvidia’s Big Buyback, Cruise Comeback, Egg Glut
Summary
A weak jobs report boosted stocks as investors bet on less aggressive Fed rate hikes. Carnival led cruise stocks higher after beating earnings expectations despite soaring fuel costs, while Cal-Main Foods fell as egg prices plummeted due to oversupply. Nvidia announced a record $150 billion buyback program, driving its shares up 4% for the week.
Topics discussed
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Bond yields hit 24-year high, pressuring stocks
Weak jobs report boosts stocks, weekly index recap
Cruise stocks rally on Carnival's strong earnings
Cal-Main Foods falls as egg prices tumble
Nvidia announces record $150B stock buyback
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