Market Recap – August 23rd
On Wednesday, markets closed with decent gains while investors waited for Nvidia’s earnings to be released. Gravity shares rose by 0.44%, while Sensex was up 256 points and NSE 63 points.Representing 340,000 UPS workers, the Teamsters union cut a 5-year deal, putting an end to the threat of a UPS strike for the first time in 25 years. The negotiations have been ongoing for months, demanding better pay and working conditions for workers. According to Teamsters General President Sean O’Brien, the deal is worth $30 billion.Investors speculate that Xi Jinping’s attendance at the BRICS nations meeting boosted Tuesday’s market sentiment following a dip after the People’s Bank of China made decisions about its loan prime rates.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.