Market Recap – September 14th 💰

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Market Recap – September 14th

Stocks shot up on Thursday on the strength of Arm’s IPO. Investors were pleased with the chip designer’s debut, leading to the best day for the Dow since early August. In addition, investors digested a raft of economic reports pointing to tamer core inflation data and a resilient consumer.

Arm, a key player in the semiconductor industry, is making its debut in the stock market with the largest IPO of 2023. Arm’s technology underpins a wide range of devices, from smartphones and PCs to vehicles and data centers, making it a pivotal company in computing and technology worlds.

BP’s CEO, Bernard Looney, abruptly leaving the company raises doubts about oil companies’ ability to lead the transition to greener energy. Looney had advocated for renewable energy investments and emissions reduction at BP but faced backlash when oil prices surged, contributing to investor frustration and a lagging valuation for the company.

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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.

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